Machine Vision Systems & Components Market worth $ 5 Billion - 2018
According to a new market research report of "
Machine Vision Systems & Components Market- By Technology(PC & Smart Camera), Application (Industrial (Automotive, Electronics, Packaging, Medical), Non Industrial(Security, Traffic And Road Safety, Healthcare))-Global Analysis & Forecast (2013-2018)"
,published byMarketsandMarkets (www.marketsandmarkets.com) is expected to grow at a CAGR of 8% from 2013 to 2018 andreach $5 billion in 2018.
Browse 108 market data tables with 12 figures spread through 340 pages and in-depth TOC on MachineVision Systems & Components Market- By Technology (PC & Smart Camera), Application (Industrial (Automotive, Electronics, Packaging, Medical), Non Industrial (Security, Traffic And Road Safety,Healthcare))-Global Analysis & Forecast (2013-2018).
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The machine vision system and component market is matching up with the growing demand for traditional and non-traditional applications areas. Innovation in processing capabilities has made the machine vision systems morepowerful; coupled with the development of embedded machine vision and new interfaces. These advancements havealso increased processing power, reduced cost and operational complexities, thereby increasing the scope of machine vision technology for a wider application. The global machine vision system and components market isestimated to reach $ 3,125.78 million in 2012; growing at an estimated CAGR of 8.2% from 2013 to 2018. Amongst all the product market segments, PC based machine vision segment held a majority of the product marketin 2012, while smart camera based machine vision market segment is fastest growing among three product markets.Third being embedded machine vision market segment. By the end of 2018, smart camera based machine visionsystem market segment is expected to hold more 35% of product market. The compact and application specificfeatures of this setup are expected to drive the market in coming five years. Embedded machine vision is alsoexpected to establish itself in various industrial and non industrial verticals. Among all the component market segments, the camera component of the set up commanded the largest share interms of revenues in 2012, while Optics, frame grabber and lightning segment, which are clubbed together for thecalculation purposes; and software & hardware component share similar share in overall cost of the system. It is alsoexpected to be the fastest growing market, growing at a CAGR of 10.1% from 2013 to 2018. The higher demand for centralized processing and lower cost of the system clubbed with ease to install and use are some of the drivers for this segment.Machine vision applications market has been segmented in four types namely location, measurement, inspection,and identification. As of 2012, identification application market segment dominates the application market of machinevision. Inspection market segment is second largest segment which held a market share of around 32% in 2012.Locating application is expected to grow with a relatively high CAGR of 15% during the projection period. Machinevision components and systems complements and to some extend replaces the manual inspections andmeasurements with power full digital cameras and image processing. This has increased the scope of itsapplications. As of 2012, industrial vertical accounted for the major part i.e.75% of the turnover of machine vision systems andcomponents globally. This segment generated revenue of $2,394.35 million in 2012 and is expected to grow with aCAGR of 7.2% from 2013 to 2018. Non industrial vertical is emerging market and had generated revenues of $731.43million in 2012 and is expected to grow a CAGR of 11.2% from 2013 to 2018 At present, Asia Pacific region dominates the global machine vision system & component market, which is also thefastest growing region, at a double digit CAGR of 11.1% from 2013 to 2018 and this trend is expected to continue inthe forecasted period as well; followed by European region, the second largest market for machine vision, whichoccupied market share of 30% of the overall market in 2012. However, Americas region is expected to grow with leastCAGR among geographies i.e around 7% during 2013 and 2018In addition to market sizes and forecasts, the report also provides a detailed analysis of the market trends and factorsinfluencing market growth, offering in-depth geographic analysis of the machine vision systems and componentmarkets in the U.S., Europe, Asia Pacific, and Rest of the World (ROW). The report draws the competitive landscapeof the global machine vision market, providing an in-depth comparative analysis of the technological and marketingstrategies adopted by key players in order to gain an edge over their competitors.
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