Read the story here. Advertise at Before It's News here.
Profile image
Story Views
Last hour:
Last 24 hours:

How big is Machine Vision Market opportunity for their growth in the developing economies in the next five years?

% of readers think this story is Fact. Add your two cents.

[284 Pages Report] The global machine vision market is expected to grow from USD 9.6 billion in 2020 to USD 13.0 billion by 2025, at a CAGR of 6.1% during the forecast period. Post-COVID-19, manufacturers are gradually realizing the importance of automation in manufacturing more than ever. But due to the lockdown across countries, companies are facing severe cash flow issues and are deferring new projects related to the implementation of machine vision in their factories. The ongoing COVID-19 pandemic has caused disruptions in economies and supply chains, thereby causing companies operating in different industries to adopt a global supply chain model. A number of manufacturing companies have halted their production, which has collaterally damaged the supply chain and negatively impacted the machine vision market.

Varying end-user requirements

The importance of machine vision is likely to increase in the manufacturing sector, as the industry undergoes a gradual transition from product standardization to product customization. It is difficult to develop a standard machine vision system, as there are several manufacturing industries to cover, and specifications differ based on individual customer requirements.

Robotic cell machine vision market expected to grow at a faster rate in the machine vision market

Based on deployment, the machine vision market has been segmented into a general machine vision system and robotic cell. Robot cells are cost-effective and can handle increasing number of product variants as component types can be changed without stopping the production process, simply by changing the inspection software and robot program. Also, robot cells are more accurate and reliable as the field of view of the camera, and perspective can be tailored. Therefore, robotic cells are growing at a faster rate than general machine vision market.

Smart Camera-based machine vision market to grow at a faster rate during the forecast period

The smart camera-based machine vision system is expected to grow at a faster rate during the forecast period as smart camera-based machine vision systems are cost-effective, compact, and flexible since it is easier to implement changes in these systems based on revised regulations and standards. In addition, with the advancements in smart camera technology and IoT, which can be easily be integrated with smart cameras, and the penetration of the smart camera-based machine vision systems is likely to increase in the next few years.

Predictive maintenance to hold grow at the fastest rate in the machine vision market during the forecast period

Predictive maintenance helps in reducing the cost as compared to other techniques like time-based preventive maintenance. Thus, it is carried out when a particular item is in the degradation state. The ultimate aim is to provide cost-saving over schedule-based preventive maintenance or unplanned reactive maintenance, which could result in machinery being unavailable during critical periods. Thus, predictive maintenance is growing at the fastest rate in the machine vision market during the forecast period.

Automotive industry to hold the largest market in the machine vision market during the forecast period

In the automotive sector, the machine vision system provides improved accuracy in critical activities, including bin picking and positioning of parts, such as doors and panels, for assembly. Due to the shortage of skilled laborers and the reducing manufacturing prices of automobiles, automobile companies are focusing more on automation in their production processes. Therefore, the automotive sector will hold the largest machine vision market in the future.

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Load more ...




Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.