Machine Vision Market Growth Benefits From Increasing Urbanization

The Business Research Company’s Machine Vision Market 2022 – Opportunities And Strategies – Global Forecast To 2031

LONDON, GREATER LONDON, UK, July 21, 2022 /EINPresswire.com/ — Increasing urbanization will support the machine vision market growth. The positive implications of urbanization include the creation of employment opportunities, technological and infrastructural advancements, improved transportation and communication, quality educational and medical facilities, and improved standards of living. Increasing urbanization will result in a growing number of households, thereby driving the demand for machine vision devices. For instance, in 2018, according to a United Nations report, 55% of the world’s population lives in urban areas, a proportion that is expected to increase to 68% by 2050. Projections show that urbanization, the gradual shift in residence of the human population from rural to urban areas, combined with the overall growth of the world’s population, could add another 2.5 billion people to urban areas by 2050. According to the machine vision industry analysis, the increasing urbanization is going to support the growth of the machine vision market.

Read more on the Global Machine Vision Market Report
https://www.thebusinessresearchcompany.com/report/machine-vision-market

The global machine vision market size is expected to grow from $15.13 billion in 2021 to $23.47 billion in 2026 at a rate of 9.2%. The global machine vision market share is then expected to grow at a CAGR of 9.5% from 2026 and reach $36.97 billion in 2031.

Vision-guided robotic systems are a key trend gaining popularity in the machine vision market. A vision-guided robotic system combines robotic applications with the assistance of a machine vision system. A robotic arm receives accurate coordinates via a specialized camera that takes a picture of an object and analyses it. After that, the robotic arm goes to the appropriate location. In robotics, a machine vision camera, proper illumination, and image processing software make up a machine vision system. Industrial vision systems may be utilized in a variety of applications that need precision and accuracy, depending on the technology employed. Vision guided systems have a very low downtime which makes it reliable as it can detect any movement in the operating environment. They also improve product quality and reduce the production costs which makes it better in terms of return on investment. Machine vision can be used in the automobile sector to detect movement or obstacles in the way of the vehicle using vision-guided robotic systems.

Major players covered in the global machine vision market are Cognex Corporation, Keyence Corp., Omron Corporation, Sony Corporation, Teledyne Technologies.

TBRC’s machine vision market report is segmented by product into pc-based, smart camera-based, by offering into hardware, software, service, by deployment type into general machine vision systems, robotic cell, by application into quality assurance and inspection, positioning and guidance, measurement, identification, predictive maintenance, by end-user into automotive, pharmaceuticals and chemicals, electronics and semiconductors, pulp and paper, printing and labeling, food and beverage, postal and logistics, other end-users.

Machine Vision Market 2022 – By Product (PC-Based, Smart Camera-Based), By Offering (Hardware, Software, Service), By Deployment Type (General Machine Vision Systems, Robotic Cell), By Application (Quality Assurance And Inspection, Positioning And Guidance, Measurement, Identification, Predictive Maintenance), By End-User (Automotive, Pharmaceuticals And Chemicals, Electronics And Semiconductors, Pulp And Paper, Printing And Labeling, Food And Beverage, Postal And Logistics, Other End-Users), And By Region, Opportunities And Strategies – Global Forecast To 2031 is one of a series of new reports from The Business Research Company that provides a machine vision market overview, forecast machine vision market size and growth for the whole market, machine vision market segments, geographies, machine vision market trends, machine vision market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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