Global machine vision market set to grow to $18.4 billion by 2028 with 7.3% CAGR.

From GlobeNewswire: 2024-06-17 20:30:00

The global machine vision market is set to grow from USD 12.9 billion in 2023 to USD 18.4 billion by 2028, with a CAGR of 7.3%. Advancements in AI and automation drive this growth, improving precision and efficiency in various industries like manufacturing, healthcare, and automotive.

Industrial machine vision systems are crucial for quality inspection and process control across industries, using advanced image processing and analysis to enhance product quality, production optimization, and safety standards.

Software components in the machine vision market are seeing significant growth, offering advanced capabilities like image processing and deep learning. This progress enables machine vision systems to handle complex tasks in industries like manufacturing, healthcare, and autonomous vehicles.

Smart camera-based machine vision systems are experiencing rapid growth, with their compact solutions and integrated processing power meeting high demand. These systems play a crucial role in enhancing efficiency and accuracy in automation and quality control needs across industries.

The adoption of machine vision in the food and packaging industry is rapidly increasing, revolutionizing quality control and operational efficiency. Automated inspection systems now identify defects, maintain precise labeling, and ensure product integrity, leading to streamlined processes, reduced errors, and improved adherence to industry regulations.

The Machine Vision Market in Asia Pacific is expected to have the highest CAGR during the forecast period, showcasing a blend of technological innovation and cultural diversity across sectors like electronics and agriculture in countries like China, Japan, and South Korea.



Read more at GlobeNewswire: Global Machine Vision Market Growth: Trends and Forecasts