Machine Vision-2D and 3D MV Systems: Technologies and Markets

The global market for machine vision system should grow from $19.6 billion in 2019 to $31.1 billion by 2024 at a compound annual growth rate (CAGR) of 9.7% from 2019 to 2024.

The global market for machine vision technologies should grow from $16.0 billion in 2018 to $24.8 billion by 2023, with a compound annual growth rate (CAGR) of 9.2% from 2018 to 2023.

The global market for machine vision (MV) system components will grow from $19.0 billion in 2016 to $30.8 billion by 2021 with a compound annual growth rate (CAGR) of 10.2% for the period of 2016-2021.

BCC Research estimates the global market for machine vision (MV) system components totalled $14.4 billion in 2013 and $15.7 billion in 2014. The market should reach $17.1 billion in 2015 and about $26.9 billion in 2020, registering a compound annual growth (CAGR) of 9.4% over the next five years.

The global market for machine vision (MV) system components was nearly $13.5 billion in 2012. This is expected to grow to $15.2 billion in 2014 and further increase to nearly $23.5 billion in 2019. The compound annual growth rate (CAGR) for the five-year period from 2014 to 2019 is expected to be 9%.

• The global market for machine vision system components was $10.3 billion in 2009, slightly more than the market figure for 2008, which was nearly $9.9 billion.  This is expected to grow to $11.2 billion in 2010 and further increase to nearly $18 billion in 2015, a compound annual growth rate (CAGR) of 9.9% for the period of 2010 to 2015.
• Miscellaneous components represent the fastest growing market segment. This sector was worth $2.2 billion in 2009 and $2.4 billion in 2010. By 2015, miscellaneous components will be worth an estimated $4 billion, an 11.2% compound annual growth rate (CAGR).
• Optics/lighting/frame grabbers represent the largest market share, valued at nearly $3 billion in 2009. This market is expected to reach $3.3 billion by the end of 2010 and $5.3 billion by 2015, a compound annual growth rate (CAGR) of 10.3%.

• The global market for machine vision systems by application was worth $8.1 billion in 2006 and will reach upwards of almost $9 billion by 2007. At a compound annual growth rate (CAGR) of 10.9%, this market will grow to more than $15 billion by 2012.
• Total industrial applications held the highest share of the market through the forecast period. In 2007 they were worth $6.4 billion. By the end of 2012 this sector will grow to $9.3 billion, more than 62% of the total global market.
• The combined non-industrial sector had the highest growth rate through the forecast period. By 2012 it will be worth more than $5.7 billion, a CAGR of 17.0%.

• Machine vision, the combination of cameras, lighting and software to capture and analyze moving images, is distinguished from other electronic imaging technologies because it is specifically associated with industrial manufacturing. In the 1980s, machine vision emerged as a means to improve the manufacturing process, and its use has been growing steadily ever since.
• The trend towards total quality and recent advances in machine vision technology are working in tandem to open the doors for machine vision in a wider variety of markets and applications. Machine vision systems have been critical in helping meet the growing demand by consumers for high quality, defect-free products.
• Manufacturers of all kinds are realizing the benefits of using machine vision in conjunction with automated, high-speed processes to increase productivity, improve product quality, and reduce waste. As the technology continues to develop, the applications for which machine vision can be used will certainly expand as well.