The global machine vision market is anticipated to expand at a healthy CAGR of close to 9% between 2017 and 2021, states a new report published by MarketResearchReports.biz. The report is titled “Global Machine Vision Market 2017-2021,” and studies the various factors driving and restraining the market. The report identifies the growing demand from the automotive industry as the key factor boosting the global machine vision market. The automotive industry is expected to drive the growth prospects of this industry for the rest of the forecast period as it makes use of machine vision to guide and inspect robots, thereby increasing the production rate and quality of product. By using machine vision in robots, cost effectiveness and greater accuracy can be achieved for bin picking, positioning the auto parts, thus boosting their demand. Machine vision systems are also being used extensively for dimensional control, error proofing, and process control, and thus manufacturers in the automotive industry are increasingly using these devices, driving the market.
Another factor fueling the demand for machine vision is the increasing need to have flexible automation in process industries and discrete industries. This is anticipated to drive the market during the period from 2017 to 2021. The report studies the machine vision market in key regions such as Asia Pacific, Europe, North America, and the Rest of the World. As per the lead author, Asia Pacific is currently leading in the machine vision market. This regional market is expected to expand at a rapid pace in the next four years on account of the use of low cost and innovative cameras, which directly impacts the adoption rate of machine visions. Japan, Indonesia, and China are the countries in Asia Pacific, which will contribute the most to the machine vision market by encouraging the development of these systems as well as their adoption.
The report studies the competitive landscape of the machine vision market and concludes that the market is highly fragmented with many regional and local manufacturers, offering low cost automation control systems. These vendors are also offering customized automation control systems at competitive rates. The degree of competition is analyzed in the report and it is estimated that the environment in the machine vision market will remain intensely competitive. This is because the players are striving to develop innovative products by investing in research and development. The market is expected to grow and competition will rise at the same time as the future is expected to see more of product extensions, new product innovations, and mergers and acquisitions. These are anticipated to be key strategies adopted by key players in the global machine vision market. Some of the leading players operating in the market include: KEYENCE, OMRON, Teledyne DALSA, Edmund Optics, Datalogic, Cognex, Basler, and Allied Vision Technologies.
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