Machine Vision Market Size, Historical Analysis, Global Trends, Opportunity Assessment, Future Scope and Potential of Industry from 2017-2022

Market Research Future
Market Research Future published a research report on “Global Machine Vision Market Research Report- Forecast 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.

Machine Vision Global Market   – Overview

Machines are everywhere and the rising adoption of automation is letting the companies to adopt the latest trends in machine vision technology for smart cities, security solutions and people management. Machine vision is an image based recognition technology providing the inspection and analysis in various applications across different industrial verticals. This technology provides a computer system with an ability to see, identify and analyse like humans. The machine vision technology market captures various end users and various different vendors contributing to the formation of a machine vision enabled systems. A major trend that tend to drive the market growth is miniaturization of manufacturing equipment, optical products, electronic devices and products. The machine vision uses cameras for visual inspection and judgement capabilities. However, there are certain factors that tend to slow down the growth of Machine Vision Market. These cameras can be tricked or fooled easily in order to get a illegal access to other property. Apple’s Face ID locking and unlocking system is one of the application of machine vision, but a numerous attempts had been made to trick the system and it was successful. While the technology is in the beta stage, it will soon have a high level of advancement because of the abilities of machine to converse with each other.

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Industry News

December, 2017, Google AutoML claims Machine Vision Advance. Google is taking many steps in adoption and enablement of machines to build their own AI models. Google’s AutoML initiative is part of a push for automated machine learning that allows data scientists to use AI tools to accelerate the process of developing and refining machine learning models. “These tools automatically sort through a huge range of alternatives relevant to some machine learning task”. Google claims that the image features identified could be reused in other computer vision applications. Hence, it has released the architecture to the open source community for inference training on image classification and object detections using Tensor Flow repositories aimed at neural network applications. While Google develops the new machine learning technology, many countries and enterprises across the world are in a race to adopt the machine vision technology, especially in Japan and United States.

December, 2017, Samsung and ABB contributed $20 Million in A Chinese machine vision firm, Vion technology. Vion Technology provides artificial intelligence products and solutions to sectors such as smart cities and business intelligence. The company’s products include a smart camera used to capture images of traffic violations, an intelligent video analysis terminal capable of face and age recognition for monitoring and counting people, and what it claims is the world’s smallest smart people counting camera. Technological giant like Samsung and ABB are intended to take advantage of the Vion’s machine vision solutions and its smart city systems, which are being used in cities and residencies across the China. This collaboration is about to increase the growth of the market of smart cities along with machine vision technology.

November, 2017, Bit Flow Identifies Five Machine Vision Trends for 2018. BitFlow is a manufacturer of frame grabbers for machine vision cameras. The company provided major trends in the machine vision market. These include, cross industry collaboration. The diverse use of machine vision is thriving different industries to collaborate with each other adopting the technology. Another trend that follows in the technology is rise in smart city adoption for security and people count. The other trends following the machine vision technology include, Vision-guided retail, and hyper spectral adoption. All of these trends are tend to drive the growth of the market for machine vision.

Key Players

The prominent players in the market of Machine Vision Market are – Cognex Corporation (U.S.), Vitronic GmbH (Germany), Perceptron, Inc. (U.S.), Microscan Systems (U.S.), Basler AG (Germany.), National Instruments (U.S.), Optotune AG (Switzerland), USS Vision (U.S.), ViDi Systems SA (Switzerland), Keyence (Japan), Omron Corporation (Japan) among others.

Machine Vision Global Market   – Segmentation

  • Segmentation by Type: 1D machine vision, 2D machine vision, 3D machine vision.
  • Segmentation by Application: Inspection, gauging, guidance, identification.
  • Segmentation by Component: hardware (ASMV, Cameras, Sensors, illuminations, processors), software.
  • Segmentation by End User: Automotive, electronics & semiconductor, healthcare, food & packaging.

Machine Vision Global Market   – Regional Analysis

The market of the machine vision is dominated by the Asia Pacific region. This region comprises of countries like China, Japan, which are far advanced in machine vision technologies as there is a large presence of electronic manufacturing companies which are investing a huge amount in research & development. Also, the Asia Pacific possesses to be a hub of robotics and machine learning technology. Europe is the second largest market after Asia pacific. The region comprise of many of the key players in this market like Vitronic, Basler AG, ViDi Systems SA, and Optotune AG. Another factor that drive the growth of the market in Europe is the collaboration of ABB group with Vion and Samsung to uses Vion’s technology in machine vision for people counting and development of smart cities. However, North America is the third largest dominating region and is expected to grow at a fast rate during the period of forecast.

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Intended Audience

  • Data Centers
  • Manufacturing Companies
  • Software Developers
  • Energy Generation Companies
  • Technology Providers
  • Distributors
  • Research firms
  • Consultancy firms
  • Semiconductor Manufacturers
  • Stakeholders
  • End-user sectors
  • Technology Investors

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