According to the new report “Global Machine Vision Camera Market Analysis and Forecast (2016-2021): By Types (Vision Sensors, and Others); By Product Type (Area Scan and Others); By Applications (Inspection, and Others); By Industry Verticals (Healthcare and Others) & By Geography”, published by IndustryARC, estimates the machine vision camera market to reach $2,220.7 Million by 2021 at a high CAGR.
Vision technology refers to manipulation and analyzing of images or sequence of images. Machine vision cameras are based on industrial application of vision technology. With the help of image sensors connected to a set of hardware and software, the captured images are processed to derive real-time information. These cameras are demanded for visual inspection and control under industrial applications including positioning, identification, verification, measurement and flaw detection. These are also required for controlling of high speed, high-magnification and 24-hour observation in manufacturing processes. Healthcare and Pharmaceutical sectors are projected to be the emerging industry verticals with rapid penetration of Machine Vision Cameras.
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Total revenue of $2,220.7 Million has been estimated for Machine Vision Camera arket by 2021.
Machine Vision Systems was introduced in the early 80s, but since they were high in cost and complicated systems, industries did not find it feasible to integrate them. In the mid-90s, the machine vision systems were reintroduced with reduced cost, but still the complexity in using and integrating is expected efforts and infrastructural changes in the industry.
Machine Vision Cameras market is currently in growth stage and is estimated to reach maturity stage by the early 2022. Advancements in industrial automation technology and components is expected to pave the path for new applications in diversified end-user industries such as pharmaceuticals, medicine, security and surveillance, packaging and so on. Rising infrastructure and sophisticated manufacturing in the regions such as South America and Asia-Pacific (APAC) will also influence the demand for machine vision cameras.
The Key Players in Machine Vision Camera Market Include;
Sony Corporation
Omron Corporation
Sick AG
National Instruments Corporation
Hitachi Corp.
All these companies accounted for more than 50% of the global market share in 2015. The global position of Sony Corporation is due to dominance of the company in image sensors market along with enormous product portfolio of machine vision camera depending upon the requirements of several industry verticals.
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The market is analyzed on basis of four regions;
Americas
Europe
APAC
RoW
