Machine Vision Market to Record CAGR of 8.7% Over 2024-2032; Growing Need for 3D Imaging and AI Robotic Vision in Manufacturing Sector to Fuel Market Growth

The global machine vision market size was valued at USD 10.75 billion in 2023 and is predicted to reach USD 11.61 billion in 2024. The market is anticipated to touch USD 22.59 billion by 2032, recording a CAGR of 8.7% over 2024-2032.

Fortune Business Insights™ presents this information in its latest report titled “Machine Vision Market Size, Share & Industry Analysis, By Type (1-D Vision System, 2-D Vision System, and 3-D Vision System), By System (PC Based, Smart Camera, and Others), By Scan Systems (Area Scan and Line Scan), By Industry (Semiconductor, Healthcare, Automotive, Manufacturing, and Others), and Regional Forecast, 2024 – 2032”.

Machine Vision (MV) systems enable automated systems to identify components, products, patterns, and other objects. The widespread adoption of these systems across various industries, including semiconductors, healthcare, automotive, manufacturing, and others, is expected to drive market growth.

The COVID-19 pandemic had a significant impact on the machine vision market. Lockdowns led to the closure of operations for many months, which resulted in a decline for manufacturers and consumers. However, steady growth was experienced in the demand for incorporation in the healthcare sector, which assisted the hospital administration in tracking patients.

Growing Need for 3D Imaging and AI Robotic Vision in Manufacturing Sector to Fuel Market Growth

The consistent advancement of 3D imaging systems is stimulating the growth of vision-based AI robotics solutions across a diverse range of industrial sectors. One of the most significant advancements is the emergence of standard solutions that combine 3D imaging technology, advanced AI software, a robot, and various other associated components. Such developments necessitate the incorporation of vision systems for various tasks such as part handling, robotic guidance, and random object pick and place tasks, making industrial and logistics operations easier for collaborative robots. The enhanced productivity and improved product quality are significant advantages supporting these trends.

However, the machine vision market growth is hindered by factors such as increasing maintenance costs by varied parts integration.

Cognex Corporation Extended Capabilities of its In-Sight SnAPP™ Vision Sensor With Launch of AI-Enabled Counting Tool

Cognex Corporation, a prominent leader in machine vision technology, extended the capabilities of its In-Sight SnAPP™ vision sensor with the launch of an AI-enabled counting tool. This innovative tool transforms the way manufacturers handle counting tasks by enabling them to automate assembly verification and quantity checks easily. It also offers ease of usage, which allows more manufacturers to precisely count challenging part types, such as objects of similar size, reflective and distorted parts, and objects with varying contrasts and shapes.

Major Players to Make Investments in Technological Advancements and Product Innovation to Strengthen Their Market Presence

The major players operating in this market are emphasizing significant investments in technological advancements and product innovation to strengthen their market presence. The major players account for 58-66% of the market's share. These high shares can be attributed to their specialization in MV systems, which are used for autonomous vehicles.

Notable Industry Development:

• June 2024: Kayence, a key manufacturer of vision systems and components, introduced a radar-level sensor with a measurement range of 15m and an accuracy of 1mm. It is a completely non-contact sensor that can monitor liquids and powders and is unaffected by build-up, ripples, foam, and others.

List of the Companies Profiled in the Report:

• Cognex Corporation (U.S.)


• Basler AG (Germany)


• Omron Corporation (Japan)


• Keyence Corporation (Japan)


• National Instruments (U.S.)


• Sony Corporation (Japan)


• Teledyne Technologies (U.S.)


• Texas Instruments (U.S.)


• Intel Corporation (U.S.)


• ViDi Systems SA (Switzerland)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/machine-vision-market-105188

Further Report Findings

• The Asia Pacific region is expected to experience the highest CAGR and the largest machine vision market share, primarily due to its increasing demand for autonomous vehicle vision systems. The adoption of these systems in autonomous vehicles enables users to control vehicles with advanced intelligent systems, such as the Advance Driver Assistance System (ADAS).


• North America is projected to witness steady growth in the coming years. This growth is due to the early adoption of automation in manufacturing and the presence of a significant number of vendors with regional roots.


• Based on scan system, area scan systems leads the market for machine vision. These systems are used for three-dimensional mapping of objects using 3D vision systems, contributing to the segment’s market growth.

Table of Segmentation