According to the new market research report by IndustryARC titled “Machine Vision Camera Market: By Types (Vision Sensors, Smart Cameras, PC Systems); By Product (Area & Line Scan, IR & 3D Cameras); By Application (Location Analysis, Pattern Recognition, Others); By End-Use (Semiconductor, Automotive, Healthcare, Others); By Geography - Forecast(2018-2023)”, the market is driven by the rising need for detailed data captured across various industries.

The global market for Machine Vision Systems and Components market was estimated to be $1.628 billion in 2017 and is projected to witness a CAGR of 13.4% during the forecast period to reach $2.5 billion by 2023. Among all the types, Smart camera is the major revenue generators contributing to nearly 50% of the overall market share and is estimated to dominate the market throughout the forecast period. It was estimated to register $852.2 million in 2017 and projected to reach $1.346 billion by 2023 at the highest CAGR of 9.38%.

Americas continues to lead the market share during 2018-2023.
Americas was the largest market for Machine Vision Cameras in 2017, closely followed by Europe, with both regions being technologically advanced in terms of innovation, manufacturing and inspection. However, increasing investments in Asia-Pacific (APAC) drives the adoption of automation and related devices, including Machine Vision Cameras. The APAC market is set to grow at a CAGR of 10.6% in the coming years. The market revenue for Machine Vision Cameras in the Americas is forecast to grow at a CAGR of 8.7% during 2018-2023, and revenue totaling up to $864.82 million by 2023 from $551.3 million in 2017. Upcoming trends such as nanotechnology, automation in the automotive industry will further escalate the growth of Machine Vision Camera market in Americas.

Among all the end-user segments, automotive is dominating with revenue of $ 325 million in 2017 and expected to reach $490.5 million by 2023. The significant automation of the manufacturing process in this industry, combined with a large amount of quality control measures has resulted in a vast market. This segment is driven by the growing automation of the healthcare industry, particularly in European and Japanese markets.

Selected / Sample Analysis done in the full Report:
Machine Vision Cameras are crucial components in the Machine Vision Systems, intended for capturing the imaging solely. But the recent developments in the field of miniature electronics has assisted in the creation of standalone cameras that are able to capture the image and process it with the integration of additional signal processing circuits. The value chain for machine vision camera is a subset of a much wider ecosystem available in the form of machine vision systems.

In the machine vision system value chain, various stakeholders are involved such as raw material or hardware suppliers or software solutions, component manufacturers, original equipment manufacturers (OEM), system integrators (SI), distributors and end-user Industries.

Using industrial vision systems, companies research extensively on industrial applications and on the level of machine vision systems to be deployed. Machine vision systems vary with different structures of applications in industries; for example, a machine vision system used in food processing applications may differ from the semiconductors industry. With this variation in applications, the components used in the machine vision systems also vary. Once the type of machine vision to be used is defined, the requirements for raw materials, components and software are rolled out.

Raw materials are required to construct the basic architecture of the machine vision system to withhold electrical and mechanical components. These raw materials may include metals, plastic and so on. Furthermore, these raw materials are used to build the components. Components such as lights, cables and fixtures, camera holders and others are supplied by component suppliers. Original equipment manufacturers (OEMs) are those who supply devices such as monitors, motherboards, cameras, lenses, HMI panels and others.

Integrator plays an important role in understanding the needs of the end users, where the machine vision systems are to be deployed, and the same requirements are passed on to component suppliers and OEMs. They act as an interface between industries and machine vision systems ecosystem. The successive step includes the distribution of complete machine vision systems either through a third-party distributor or the distribution network owned by the machine vision system integrators. The final step consists of the utilization of machine vision systems in the end-user industry.

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Excerpts on Market Growth Factors Mentioned in the Full Report:
The increasing importance of industrial and factory automation due to rising labor costs has set up a progressive demand for machine vision cameras.
The enormous improvements in the field of image processing will drive the vision technology market in the coming years by creating new opportunities for applications across different industrial and also non-industrial verticals.
The flexibility and in-built intelligent processing incorporated in smart cameras offer a wide scope of application across industries. These cameras are increasingly being adopted along process lines, hence contributing to the growth of this market.
Adoption of machine vision inspection systems for inspection purposes in several end-user verticals has led to propel the market growth.

Key Players of the Machine Vision Camera Market:
The key players of the machine vision camera market are Sony Corp., Omron Corp., Sick AG, National Instruments, Hitachi Corp., Cognex Corp., FLIR Systems. Sony Corp. is the dominant player in this market and the major factor for this is the dominance of Sony in the image sensors market, economies of scale and extensive product portfolio of machine vision cameras pertaining to specific requirements of different industry verticals. Big players are launching new products and acquiring the smaller companies to augment their product portfolio and also, to develop innovative products by leveraging the core competencies, thereby enhancing their competitive edge in the market. Companies are also looking at product developments in this market to expand their capabilities and position themselves robustly in this growing market.

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