The global machine vision systems (MVS) market was estimated to be worth USD 8.48 billion in 2016, and it is expected to record a CAGR of 9.31% during the forecast period, to reach USD 13.32 billion by the end of 2022.
Ever since their inception, MV systems have evolved tremendously from stand-alone proprietary box modules to modular vision components and 3D displacement sensors. They are widely used for performing non-contact optical sensing, to analyze and interpret parts of real-world models. They play a critical role in high-speed production lines, hazardous environments, robot guidance and for performing non-contact measurement in highly complex environments. Some of the major benefits offered by MV systems include increased productivity, higher flexibility in the production process, reduced machine downtime and tighter process control.

The major factors driving the growth of the market include growing demand for high-quality products, increased adoption of vision-guided robotics systems and the increased need for regulatory compliance in food, life sciences & automotive industries. Incremental advancements in technology, coupled with a sustained increase in the development of manufacturing facilities, is expected to drive the growth of this market. Conversely, the dynamic nature of end-user requirements, the dearth of flexible & scalable MV systems and the perceived lack of user awareness of the changes in MV technology could act as restraints for the growth of this market, during the forecast period.

The market share of smart camera-based MV systems segment is expected to record a CAGR of 10.93%, the highest growth among all other segments. The value of the PC-based systems segment is estimated to be nearly 44% of the global market value of MV systems. The market is expected to see the growth of smart camera-based systems and developments are also anticipated to trigger the highest CAGR in the segment. The semiconductor segment is estimated to have the largest market share of 25.72%, followed by others with 21.55%. The automotive end-user segment is estimated to have the highest growth rate, followed by consumer electronics.

The Global Machine Vision Systems Market has been segmented
• By Component – Hardware and Software
• By Type – PC-Based Machine Vision System, Embedded Systems, Smart Camera Based Machine Vision System
• by Geography – North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa

Among all the regions, North America held the major share of the market with a share of more than 35%, followed by Europe and Asia-Pacific, with shares of about 28% and 22%, respectively. Asia-Pacific is expected to be the fastest growing region, at a rate of 11.67% during the forecast period.
The report also considers key trends that will impact the industry, along with profiles of leading suppliers in the global market. Some of the top companies mentioned in the report are Cognex Corporation, Isra Vision Ag, Basler Ag, Keyence Corporation, Ids Imaging Development Systems GmbH [De], National Instruments, Omron Corporation, Mvtec Software GmbH, Microscan Systems Inc. and Sony Corporation.

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