Global machine vision systems market analysis and insights

The global machine vision systems market estimated at US$11.29 billion in the year 2024 is now projected to grow at a CAGR of 6.38% and reach US$18.52 billion by 2030, driven by various factors that leverage advancements in technology and increasing demand across multiple industries.

One of the primary drivers is the escalating need for automation and quality control in manufacturing processes. Machine vision systems play a crucial role in enhancing efficiency, accuracy, and productivity by automating inspection, measurement, and identification tasks. Industries such as automotive, electronics, pharmaceuticals, and food and beverage are increasingly adopting these systems to ensure high-quality production, reduce errors, and streamline operations.

Another key growth driver is the integration of artificial intelligence (AI) and deep learning technologies into machine vision systems. This enables machines to learn and adapt, improving their ability to recognize and interpret complex patterns and objects. As AI capabilities continue to evolve, machine vision systems are becoming more sophisticated, opening up new opportunities for applications in areas like robotics, autonomous vehicles, and smart cities.

Additionally, the growing trend of Industry 5.0 (which robot and smart machines working alongside people with added resilience and sustainability goals included) is expected to further fuel the demand for machine vision systems as companies seek to optimize their manufacturing processes and stay competitive in the global market. The future growth potential of the machine vision systems market lies in continued technological advancements, expanding applications, and the ongoing digital transformation of industries worldwide.

Machine vision systems market regional insights

North American machine vision systems market is expected to grow significantly over the forecast period 2024-2030. This growth can be attributed to the  need for improved product inspection and quality control in the manufacturing sector, as well as the growing demand for smarter collaborative robots in manufacturing and warehousing. United States contributed around 79% of the total North American machine vision systems market, with a market size of US$3.09 billion in 2024. Among the other noteworthy geographic markets are Canada and Mexico, each forecast to grow at 5.41% and 3.86% respectively over the forecast period.

Asia-Pacific machine vision systems market is anticipated to witness an upsurge owing to the rapid industrialization and urbanization in developing countries like China and India. Moreover, the market is being driven by high R&D expenditure by major players, combined with efforts to commercialize machine vision systems at affordable prices. China is expected to dominate the Asia-Pacific market and reach a market size of US$3.64 billion by 2030.

Within Europe, Germany, France, Italy and the U.K. are the key countries responsible for the significant growth of the regional market. Germany is expected to grow at a fastest CAGR of 5.62% over the forecast period.

Meanwhile, the Middle East & Africa is expected to show limited growth due to the strong presence of under-developed countries in Africa who are still struggling to meet technology standards. However, any growth that the region experiences is expected to come from developing Middle Eastern nations such as Qatar, U.A.E, and Oman due to a similar growth pattern as the Asia Pacific.

Key players

Key players profiled in the report include Allied Vision Technologies GmbH; BASLER AG; Baumer Group; Canon Inc.; Cognex Corporation; IDS Imaging Development Systems GmbH; Intel Corporation; ISRA VISION AG; KEYENCE Corporation of America; MVTec Software GmbH; National Instruments Corporation; Omron Corporation; SICK AG; Sony Corporation, Teledyne FLIR LLC and Toshiba Corporation, among others.

Competitive landscape

January 11, 2024 – ABB announced that it has acquired Swiss start-up Sevensense, a leading provider of AI-enabled 3D vision navigation technology for autonomous mobile robots (AMRs). The acquisition follows ABB’s minority investment in Sevensense after it joined the company’s innovation ecosystem in 2021, the same year ABB acquired ASTI Mobile Robotics. Following pilot customer projects in the automotive and logistics industries, ABB will integrate Sevensense’s technology into the company’s AMR portfolio, offering an unprecedented combination of speed, accuracy, and payload.

September 12, 2023 – Cognex Corporation, the leader in industrial machine vision, announced the launch of the In-Sight SnAPP vision sensor, redefining standards for ease of use, accuracy, and functionality in an industrial sensor. This product expands the Company’s capabilities into the vision sensing space and adds an additional $1 billion to its served markets.

Global machine vision systems market scope

• By component
  • Hardware
  • Software
  • Services

• By product category
  • PC-based
  • Smart camera based
  • Embedded systems

• By industry vertical
  • Manufacturing and industrial
  • Automotive
  • Electronics and semiconductors
  • Healthcare and medical devices
  • Food and beverage
  • Packaging
  • Pharmaceuticals
  • Printing and publishing
  • Others

• By region
  • North America
  • South America
  • Europe
  • Asia Pacific
  • Middle East and Africa

The research report  provides a comprehensive review of market trends, market growth drivers, PEST Analysis, Market growth inhibitors, and strategic industry activities and SWOT Analysis of key players in the market.

The report provides market estimates and forecast for geographic markets such as the North America (US, Canada, Mexico and Rest of North America), South America (Brazil, Argentina and Rest of South America), Europe (Germany, France, U.K., Russia, Italy, Spain, Sweden, Netherlands, Poland, Austria, Norway, Switzerland, Denmark and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Taiwan, India, Australia and Rest of Asia-Pacific), Middle East (Iran, Turkey, Kuwait, UAE, Israel and Rest of Middle East) & Africa.