Machine Vision Camera Market to Elevate Beyond $2 Billion by 2021
Rapid technological advancement in image processing to accelerate the growth of machine vision camera market; estimated to reach $2,220.7 Million by 2021
/EIN News/ -- Hyderabad, Oct. 19, 2016 (GLOBE NEWSWIRE) -- According to the new report “Global Machine Vision Camera Market Analysis and Forecast (2016-2021): By Types (Vision Sensors, and Others); By Product Type (Area Scan and Others); By Applications (Inspection, and Others); By Industry Verticals (Healthcare and Others) & By Geography”, published by IndustryARC, estimates the machine vision camera market to reach $2,220.7 Million by 2021 at a high CAGR.
Browse 30 Market Tables, 79 Figures spread through 208 Pages and an in-depth TOC on “Global Machine Vision Camera Market (2016 - 2021)”
Vision technology refers to manipulation and analyzing of images or sequence of images. Machine vision cameras are based on industrial application of vision technology. With the help of image sensors connected to a set of hardware and software, the captured images are processed to derive real-time information. These cameras are demanded for visual inspection and control under industrial applications including positioning, identification, verification, measurement and flaw detection. These are also required for controlling of high speed, high-magnification and 24-hour observation in manufacturing processes. Healthcare and Pharmaceutical sectors are projected to be the emerging industry verticals with rapid penetration of Machine Vision Cameras.
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Total revenue of $2,220.7 Million has been estimated for Machine Vision Camera Market by 2021.
Machine Vision Systems was introduced in the early 80s, but since they were high in cost and complicated systems, industries did not find it feasible to integrate them. In the mid-90s, the machine vision systems were reintroduced with reduced cost, but still the complexity in using and integrating is expected efforts and infrastructural changes in the industry.
Machine Vision Cameras market is currently in growth stage and is estimated to reach maturity stage by the early 2022. Advancements in industrial automation technology and components is expected to pave the path for new applications in diversified end-user industries such as pharmaceuticals, medicine, security and surveillance, packaging and so on. Rising infrastructure and sophisticated manufacturing in the regions such as South America and Asia-Pacific (APAC) will also influence the demand for machine vision cameras.
The Key Players in Machine Vision Camera Market Include;
- Sony Corporation
- Omron Corporation
- Sick AG
- National Instruments Corporation
- Hitachi Corp.
All these companies accounted for more than 50% of the global market share in 2015. The global position of Sony Corporation is due to dominance of the company in image sensors market along with enormous product portfolio of machine vision camera depending upon the requirements of several industry verticals.
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The market is analyzed on basis of four regions;
The machine vision camera market is segmented based on its geographic regions that include Americas, Europe, APAC and RoW (comprising of African and Middle Eastern nations). APAC market will accelerate with the highest CAGR of 10.6%. This upsurge is mainly due to the large economic developments in China and other developing countries. Americas market holds the largest share for Machine Vision Cameras Market in 2015. Large scale use of automation and nanotechnology in every industry is propelling the demand for the market.
Scope of the Study: The report covers quantitative analysis including values ($M) and volumes (KT) as well as qualitative analysis of the following:
- Market potential of several materials and end users at global, regional and country level
- Various insulation materials in different applications and end-users
- Competitive landscape and growth strategies
- Trends, drivers and opportunities impacting the growth
Why buy this report?
- Get a detailed picture of the machine vision camera market landscape and growth markets, opportunities.
- Pinpoint growth sectors and identify factors driving change.
- Understand the competitive environment, the market's major players and leading brands.
- A five-year forecast method is used in order to assess how the market is predicted to develop.
- More than 100 data tables and figures to assist in strategic decision making plans.
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