According to a new report, published by KBV research, The Global Machine Vision Systems Market size is expected to reach $133.5 billion by 2031, rising at a market growth of 13.7% CAGR during the forecast period.
The Smart Camera segment captured the maximum revenue in the Global Machine Vision Systems Market by Component in 2023, thereby, achieving a market value of $34.1 billion by 2031. This can be attributed to the increasing demand for intelligent, stand-alone devices capable of performing image capture, processing, and analysis without requiring additional computing hardware. Smart cameras are particularly favored in manufacturing, automotive, and robotics sectors, where real-time inspection, quality control, and automation are critical.
The Flaw Detection segment is experiencing a CAGR of 12.6 % during the forecast period. Flaw detection is a critical application in industries such as manufacturing, automotive, and electronics, where ensuring the quality and integrity of products is essential. Machine vision systems used for flaw detection are employed to identify defects, irregularities, or imperfections on surfaces during production.
The Industrial segment led the maximum revenue in the Global Machine Vision Systems Market by Vertical in 2023, thereby, achieving a market value of $43.2 billion by 2031. Machine vision systems in the industrial sector are widely used for quality control, automation, and process monitoring across various manufacturing processes. These systems are essential for inspecting products, detecting defects, and ensuring precision in the food and beverage, textiles, and packaging industries.
The 2D segment is growing at a CAGR of 13.1 % during the forecast period. The 2D machine vision systems are widely used in industrial applications for inspection, measurement, and alignment tasks. These systems capture two-dimensional images of objects and are effective for tasks that do not require depth perception. They are highly favored in electronics, automotive, and packaging industries, where high-speed inspections of flat surfaces and straightforward geometries are common.
Full Report: https://www.kbvresearch.com/machine-vision-systems-market/
The Asia Pacific region dominated the Global Machine Vision Systems Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $53.5 billion by 2031. The North America region is anticipated to grow at a CAGR of 12.9% during (2024 - 2031). Additionally, The Europe region would witness a CAGR of 13.1% during (2024 - 2031).
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