Machine Vision System is the new emerging technology which is used to perform industrial operations such detection, identification, measurement, inspection etc. This system plays a major role in robotics, mainly to guide autonomous robots known as self-navigating robots.
The Global Machine Vision Systems Market was worth 12.2 Billion USD in 2018 and is estimated to reach 20.29 Billion USD by 2025 at a CAGR of 7.54% during the forecast period.
Growth by Region
Asia Pacific region is expected to have the largest market share in Global Machine Vision Systems Market because this region has high potential of investing in this technology followed by Europe and North America.
Drivers vs. Constraints
The constant evolution of CMOS image sensors, increasing demand of automation in industrial applications and errors in human inspection are the reasons which drives the Global Machine Vision Systems Market.
Industry Structure and Updates
In April 2017, Cognex acquired ViDi Systems SA, which makes software using deep learning for machine vision systems in industries.