Machine Vision Software Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Deep Learning, Traditional), By Application (Quality Assurance And Inspection, Positioning And Guidance, Measurement, Identification), By End-User (Automotive, Pharmaceuticals, Electronics & Semiconductor, Postal & Logistics, Packaging & Bottling, Others), And By Geography - Forecasts From 2022 To 2027

The machine vision software market is projected to grow at a CAGR of 11.52% during the forecast period to reach US$3.973 billion in 2027 from US$1.853 billion in 2020.

Accurate information, fast response, few redundancies, and even a tailored approach are a few advantages of machine vision systems all of which are considered to be essential and effective in achieving higher efficiency in an organization. Machine vision is regarded to be an automated tool that is effectively used in industries for the performance of tasks such as positioning and guidance, quality assurance and inspection, predictive maintenance, measurement, and even identification,

The increased demand for industrial automation across multiple ranges of industries such as consumer electronics, electronics and semiconductors and even food and packaging are driving the growth of this market. Additionally, the need for machine vision-guided robotic systems across the pharmaceutical and chemical industries, food and beverage, and packaging segment is further expected to increase the demand for application-orientated machine vision systems.

These systems are effective in assisting and supervising work environments by offering features such as automatic inspection, process control, and even robotic guidance in industrial applications.  Moreover, technology is further witnessing a higher adoption which is significantly replacing manual inspection and measurements owing to the increasing necessity for efficiency.

Increasing demand for artificial intelligence and vision-guided robotics system

Artificial intelligence which is based on machine vision systems is capable of comparing defects with high variability. Various manufacturing facilities are adopting artificial intelligence-based solutions in order to improve their productivity by maximizing utilization, making improvements in their machine efficiency, minimizing downtime, and also enhancing productivity through quality control. 

These artificial intelligence-based systems are also efficiently capable of learning and observing from the past, acting in the present, and also anticipating the future.  Therefore, artificial intelligence in the machine vision market is expected to create high growth opportunities for the market.

Moreover, the consumer electronics segment is imperative for quality assurance which can further be automated by using vision guided robotic system.  The machine vision market is also accounting for a rapid increase in the use of industrial robots for automation which is resulting in the increasing need for the integration of machine vision systems.

Asia Pacific is estimated to grow significantly during the forecast period

Asia Pacific accounts for an increasing number of manufacturing plants in the world.  It is accounted to grow significantly during this forecast period owing to the increasing adoption of robots and extensive use of artificial intelligence ML and big data by various manufacturing organizations in countries such as China, Japan, and South Korea.

As the region is establishing itself in order to become a technology manufacturing hub, it is expected to gain significant traction over the forecast period. Countries such as China and Japan are expected to show potential in order to offer extensive opportunities for mature technologies such as machine vision.

Furthermore, increasing research and developmental activities are being carried out in this region which could result in the improvement of machine vision technology as prominent companies are undertaking strategic initiatives such as partnerships, mergers and acquisitions, and even distributional alliances. these few factors are expected to result in the growth of this market in the Asia Pacific region.

 Market Key Developments

• In March 2021, Basler AG launched an Embedded vision processing kit that imperatively includes various interfaces for image processing and allows the connection of different camera types. The kit includes a reliable pylon Camera Software Suite, which provides certified drivers for all types of camera interfaces.
• In September 2021, a high-resolution camera was launched by KEYANC. Furthermore, a series of CV-X/XG-X of ultra-high resolution cameras were also launched in order to improve the accuracy of conventional inspection. The built-in angle sensor makes the camera installation significantly easier and quick to detect camera misalignment during the operation.

Machine Vision Software Market Scope:

Segmentation:

• By Type
  • Deep Learning
  • Traditional
• By Application
  • Quality Assurance and Inspection
  • Positioning and  Guidance
  • Measurement
  • Identification
• By End User
  • Automotive
  • Pharmaceuticals 
  • Electronics & Semiconductor 
  • Postal & Logistics
  • Packaging & Bottling
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Others
  • South America
    • Brazil
    • Others
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Thailand
    • Indonesia
    • Others