Market Research Future (MRFR), in its latest ”Global Industrial Vision Market” reveals that the exponential growth of the computer vision industry can prompt the expansion of the industrial vision market 2020. MRFR findings state that the world industrial vision market can expand at 14% CAGR from 2017 to 2023 (forecast period). The industrial vision market is poised to reach about USD 11 Bn by 2023.
Advantages, such as high performance and robust pre-processing can prompt the rise of the industrial vision market. The industrial vision technology has redefined the healthcare industry with the introduction of robotic surgery. In this surgery, it allow surgeons to perform with less vibrations and fine detail. Vision systems are known as the integral part of different industries as they offer fast, accurate, and reproducible inspection capabilities at decent cost.
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The distinctness of systems that perform multiple pre-processing and segmentation algorithms at real-time rates based on their designs and application-specific integrated circuits in smart cameras, embedded vision computers or processors, or host-based processing systems can prompt the expansion of the market. Plus, the rise in utility of simple digital cameras and the need for the delivery of image data directly to a host can spur the expansion of the market. On the downside, lack of flexibility of machine vision solutions can dampen the industrial vision market growth in the near future.
The segmental study of the industrial vision market is based on component, product, technology, and vertical.
The product based segments of the industrial vision market are embedded and PC-based. Amongst all these, the high performance threshold embedded system to constantly perform basic tasks can prompt the market growth. Plus, the rarely requirement for hardware changes, such as addition of extra storage space is not required.
The technology-based segments of Industrial Vision Market are laser, imaging, and augmented.
The component based segments of the market are software and hardware.
The vertical based segments of the industrial vision market are automotive, consumer electronics, food & packaging, metals, pharmaceutical, healthcare, and others. The rise in application of industrial vision market in the food and packaging sector is expected to cause the market to rise at a decent pace.
North America industrial vision market is expected to generate substantial revenue in the years to come. The industrial vision market in North America is considered to secure the highest share of the global industrial vision market. It is due to advancement in technology and its implementation in the industries. In Asia Pacific, the region is expected to showcases a decent growth rate of the industrial vision market. In addition, the presence of numerous reputed providers of industrial vision manufacturers in countries, such as South Korea, India, Japan, and China can support the expansion of the market. On the other hand, in Europe, the rise in concentration of industrial vision solution providers are expected to impel the expansion of the market. The existence of major automotive dealers can shore up the industrial vision market in Europe. The high robustness, need for high stability, reliability, and better accuracy in aerospace, government, and military applications can bolster the rise of industrial vision market in Europe through the assessment period.
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MRFR discerned some reputed players of the industrial vision global market. They are; Basler AG (Germany), Teledyne Dalsa (U.S), MVTech Software GmBH (Germany), Sick IVP (Germany), Omron Corporation (Japan), Pixelink (U.S), JAI (U.S), Cognex Corporation (U.S), Adept Technologies Inc. (U.S), and LMI Technologies (U.S).
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