The Business Research Company’s Industrial Machine Vision Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 25, 2024 /EINPresswire.com/ -- The industrial machine vision market, encompassing the application of computer vision technology in industrial settings for automation and process enhancement, has witnessed robust growth. Starting from $11.01 billion in 2023, it is expected to reach $11.92 billion in 2024, growing at a CAGR of 8.2%. It will grow to $16.18 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. This growth is attributed to increasing demands in quality control, advancements in computing capabilities, cost efficiency, and integration with Industry 4.0 initiatives.

Automation Driving Market Growth
The demand for automation across industries is a key driver propelling the industrial machine vision market forward. Automation enhances efficiency, reduces costs, ensures quality control, and facilitates advancements in manufacturing processes. For example, the installation of industrial robots in the Americas surged by 31% in 2021, indicating a strong uptake in automation technologies.

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Major Players and Innovations
Leading companies such as Siemens AG, Sony Corporation, and Panasonic Corporation are focusing on developing innovative solutions in industrial machine vision. Nikon Corporation's launch of the 'LuFact' ultra-compact machine vision camera exemplifies advancements in imaging technology tailored for industrial automation needs.

Market Segments
The industrial machine vision market is segmented based on:
•Component: Hardware, Software
•Product: PC-Based, Smart Camera-Based
•Technology: Laser, Imaging, Augmented
•Application: Measurement, Identification, Positioning and Guidance, Quality Assurance and Inspection, Other Applications
•End-User: Automotive, Pharmaceutical and Healthcare, Food and Beverage, Electronics and Semiconductor, Packaging, Process Control, Printing and

Labeling, Other End-Users
Regional Insights: North America Leading the Way
North America dominated the industrial machine vision market in 2023 and is expected to maintain its leadership position through the forecast period. The region benefits from early adoption of advanced technologies and a strong presence of key market players.

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Industrial Machine Vision Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Industrial Machine Vision Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on industrial machine vision market size, industrial machine vision market drivers and trends, industrial machine vision market major players, competitors' revenues, market positioning, and market growth across geographies. The industrial machine vision market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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