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Industrial Vision Market Overview
The Industrial Vision Market is projected to grow from USD 10.00 billion in 2024 to USD 17.71 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.40% during the forecast period (2024 - 2032). Additionally, the market size for industrial vision was valued at USD 9.22 billion in 2023.
Increasing demand for automation in various industries, including automotive, pharmaceuticals, and electronics and growing demand for quality control is the key market drivers enhancing market growth.
Figure 1: Industrial Vision Market Size, 2023-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Industrial Vision Market Trends
Growing demand for automation in various industries driving the market growth
Automation has become an essential part of many industries, as it helps improve productivity, reduce costs, and enhance product quality. Industrial vision systems are key components of automation, as they enable machines and robots to perform tasks that require visual perception, such as inspection, quality control, and assembly. It use cameras, sensors, and software to capture and analyze visual data, which allows machines to make decisions and take actions based on that data. These systems are becoming increasingly sophisticated, with advancements in machine learning and artificial intelligence enabling them to perform complex tasks with a high degree of accuracy.
Industries such as automotive, electronics, and pharmaceuticals are among the largest users of industrial vision systems. These industries require high levels of precision and accuracy, and industrial vision systems are able to provide this level of performance consistently, without fatigue or error. As the demand for automation continues to grow across various industries, the demand for industrial vision systems is likely to increase as well. This trend is expected to continue in the coming years, with industrial vision systems becoming more advanced and capable of performing even more complex tasks. Thus, driving the Industrial Vision market revenue.
Quality control is a critical aspect of many industries, including food and beverage, pharmaceuticals, electronics, and automotive. Ensuring that products meet quality standards is essential for maintaining customer satisfaction, complying with regulations, and avoiding costly recalls. Industrial vision systems are widely used in quality control applications, as they are able to detect defects and deviations from quality standards with a high degree of accuracy and reliability. These systems use advanced algorithms and machine learning techniques to analyze visual data and identify defects, such as scratches, dents, or discolorations.
The demand for industrial vision systems in quality control is expected to continue growing in the coming years, as the importance of quality control increases and manufacturers look for ways to automate and streamline their production processes. In addition, advancements in technology, such as the development of hyperspectral imaging and other advanced imaging techniques, are making industrial vision systems even more capable and effective at detecting defects and ensuring product quality. Thus, the increasing demand for quality control is likely to drive the growth of the industrial vision market, as more and more manufacturers turn to these systems to improve the quality and consistency of their products.
Industrial Vision Market Segment Insights
Industrial Vision Product Insights
The Industrial Vision market segmentation, based on product, includes Installed and PC-based. The installed segment dominated the market. This is due to installed systems are often used in high-volume production environments where high levels of precision and reliability are required. However, PC-based systems have been gaining in popularity in recent years, due in part to their flexibility and versatility. However, both installed and PC-based industrial vision systems play important roles in the industrial vision market, and their respective market shares may vary depending on the specific application and industry..
Industrial Vision Technology Insights
The Industrial Vision market segmentation, based on technology, includes imaging, laser, and expanded. The imaging segment dominated the market. This is because it uses cameras, sensors, and software to capture and analyze visual data. 3D vision is another popular technology, which uses lasers or structured light to create a 3D representation of an object or scene. Hyperspectral imaging is a more specialized technology that captures detailed information about the spectral properties of an object.
Figure 2: Industrial Vision Market, by Technology, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Industrial Vision Components Insights
Based on components, the Industrial Vision market segmentation includes programming and equipment. The programming segment dominated the market. This is due to the increasing demand for automation, quality control, and productivity across a range of industries, and is expected to continue growing as manufacturers seek to improve their production processes and ensure the quality and consistency of their products.
Industrial Vision Vertical Insights
Based on vertical, the Industrial Vision market segmentation includes Shopper, gadgets, Auto, Metals, Drug, Food and bundling, and Medical services. The auto segment dominated the market. Automotive manufacturers use industrial vision systems for a wide range of applications, including inspection, assembly, and quality control. These systems are able to detect defects and inconsistencies in the production process with a high degree of accuracy, helping to improve the overall quality of the vehicles.
Industrial Vision Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Industrial Vision market will dominate this market, owing to the demand for automation, quality control, and productivity across a wide range of industries, including automotive, electronics, pharmaceuticals, food and beverage, and others. The United States is the largest market for industrial vision systems in North America, with a high concentration of manufacturers and a strong demand for these systems across various industries. The country has a well-established industrial base and a high level of technological expertise, which has helped to drive innovation and development in the industrial vision market..
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: INDUSTRIAL VISION MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Industrial Vision market accounts for the second-largest market share due to the demand for automation, quality control, and productivity across a wide range of industries, including automotive, electronics, pharmaceuticals, food and beverage, and others. Further, the German Industrial Vision market held the largest market share, and the UK Industrial Vision market was the fastest-growing market in the European region
The Asia-Pacific Industrial Vision Market is anticipated to develop at the fastest CAGR from 2023 to 2032. The market is driven by increasing demand for automation and quality control across a range of industries, as well as ongoing advancements in industrial vision technology. Additionally, the implementation of new regulations and standards related to product safety and quality is expected to further drive the demand for industrial vision systems in the region. Moreover, China’s Industrial Vision market held the largest market share, and the Indian Industrial Vision market was the fastest-growing market in the Asia-Pacific region.
Industrial Vision Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the Industrial Vision market, grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The Industrial Vision industry must offer innovative products to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Industrial Vision industry to benefit clients and increase the market sector. In recent years, the Industrial Vision industry has offered some of the most significant advantages to the market. Major players in the Industrial Vision market, including Teledyne Dalsa (U.S), Cognex Corporation (U.S), Basler AG (Germany), Pixelink (U.S), Sick IVP (Germany), JAI (U.S), LMI Technologies (U.S), Adept Technologies Inc. (U.S), MVTech Software GmBH (Germany), Omron Corporation (Japan) and others, are attempting to increase market demand by investing in research and development operations.
Teledyne DALSA is a Canadian company that designs, develops, and manufactures digital imaging products and solutions for use in industrial, medical, and scientific applications. The company's product line includes image sensors, cameras, frame grabbers, vision software, and image processing solutions. Teledyne DALSA has a strong presence in the industrial vision market, with a focus on delivering innovative and high-quality solutions that help customers improve productivity, efficiency, and quality control. For instance, in September 2020, Teledyne DALSA announced the launch of its new Genie Nano 5GigE M/C8100 camera, which is designed to deliver high-speed, high-resolution imaging performance for industrial applications. The camera features a 45MP resolution and supports the latest 5GigE interface technology, enabling fast and reliable data transfer..
Cognex Corporation is a leader in the development of industrial machine vision systems and software, specializing in the design and manufacturing of vision sensors, cameras, and barcode readers. The company's products are used in a variety of industries, including automotive, electronics, pharmaceuticals, and logistics, to improve manufacturing processes and enhance quality control. Cognex is known for its innovative products and solutions that enable customers to achieve higher levels of accuracy, efficiency, and productivity. For instance, in October 2019, Cognex announced the acquisition of SUALAB, a Korean-based provider of deep learning-based vision software. The acquisition will enable Cognex to enhance its machine learning capabilities and accelerate the development of new products and solutions for the industrial vision market.
Key Companies in the Industrial Vision market include
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Teledyne Dalsa (U.S)
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Cognex Corporation (U.S)
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Basler AG (Germany)
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Pixelink (U.S)
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Sick IVP (Germany)
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JAI (U.S)
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LMI Technologies (U.S)
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Adept Technologies Inc. (U.S)
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MVTech Software GmBH (Germany)
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Omron Corporation (Japan)
Industrial Vision Industry Developments
April 2024: Leading global developer of semiconductor solutions, including advanced digital imaging, analog, and touch & display technology, OMNIVISION unveiled the OG09A10 CMOS global shutter (GS) sensor today. This is the first large-format GS solution for intelligent transportation systems (ITS) and factory automation by the company. The high quantum efficiency (QE) in its category and large-pixel, 3.45 µm backside-illuminated (BSI) stacked global shutter sensor contribute to its exceptional image quality.
This characteristic renders it well-suited for machine vision tasks that necessitate the capability of capturing distinct images of swiftly moving objects. A 9-megapixel (MP) GS sensor with a 1-inch optical format constitutes the OG09A10. For best-in-class image sensor performance, the sensor's 3.45 µm pixel is based on OMNIVISION's patented PureCel®Plus-S stacked-die architecture. In low-light conditions, the OG09A's Nyxel® near-infrared (NIR) technology produces images that are crystal clear and precise. Dual Conversion Gain High Dynamic Range (DCG™ HDR) technology enhances the dynamic range capabilities of the GS image sensor, enabling the reproduction of low-noise, artifact-free images even under difficult illumination conditions.
Allied Vision Technologies Gmbh exhibited a wide range of technologies and products at ‘Automatica’ in Munich in June 2023. These include the Alvium G1 and Alvium G5 small GigE Vision and 5GigE Vision cameras; the “AI-Blox” platform, which was launched along with the upcoming GMSL-2 Alvium GM2 camera designed by the company; Nerian’s new 3D depth camera “Ruby”; and Goldeye XSWIR camera from this company.
In June 2023, Omron Automation Americas launched its F440 Smart Camera to provide flexibility for machine vision operations. Some of its features are high-resolution sensors, customizable lighting and optics, as well as simplified vision system configuration via AutoVISION software. It is applied in a variety of areas such as cap inspection, box count, fill level inspection, measurement and label barcode & OCR.
SICK Ag introduced its multiScan100 family by releasing its “multiScan136,” which uses time of flight (TOF) measurement for creating 3D perception within its surroundings. The multiScan136 delivers three-dimensional measurement data for precise self-localization of vehicles that are at the same time mapping environments. Proposed application areas include mobile robotics for logistics and manufacturing purposes, as well as indoor & outdoor measurements.
Cognex Corporation launched Advantage 182 vision system for the automation of complex position detection tasks, including location identification, classification or inspection, especially in the life sciences industry, back in May 2023. The system comprises advanced machine vision technology combined with barcode reading functionality alongside edge learning capabilities to support presence/absence detection functionalities or even track-and-trace applications on top of high-precision alignment; including complex color inspections.
In March 2021, Cognex released DataMan 8700 Series—next-generation handheld barcode scanners built on an entirely new platform. It has unparalleled performance yet is very easy to use because it needs no preliminary adjustment or operator training.
Industrial Vision Market Segmentation
Industrial Vision Product Outlook
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Installed
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PC-based
Industrial Vision Technology Outlook
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Imaging
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Laser
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Expanded
Industrial Vision component Outlook
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Programming
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Equipment
Industrial Vision Vertical Outlook
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Shopper gadgets
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Auto
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Metals
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DrugFood and bundling
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Medical services
Industrial Vision Regional Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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