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Industrial Machine Vision Market Growth will be Propelled by increase in government initiatives to encourage the growth of smart factories

Author : Ronak Bora | Published Date : 2019-03-13 

Asia Pacific Industrial Machine Vision Market is predicted to witness a significant growth over the forecast timespan. The growth can be accredited to the increasing number of industries in emerging economies including China, India, Japan, and South Korea. An increase in the demand for consumer products in China is providing growth opportunities to the industrial machine vision market.

Rising government initiatives to encourage the growth of smart factories are propelling the industrial machine vision market growth. Governments across various emerging economies are investing in the development of smart manufacturing techniques to support the industrial sector. For instance, the government of China’s Made in China 2025 policy for the integration of digital technologies and industrialization is providing an impetus to the industrial machine vision market.

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By end-use, the industrial machine vision market can be categorized into solar panel manufacturing, machinery, glass, pharmaceuticals, rubber & plastics, food & packaging, wood & paper, metals, printing, electronics & semiconductor, consumer electronics, and automotive. Food & packaging involves a range of processes that include portioning, sorting, grading, processing, quality checking, and packaging. These processes require machine vision technology for the smooth operation of the manufacturing process. Stringent government regulations pertaining to the quality of food products are further fueling the adoption of the technology in the food & packaging sector.

The industrial machine vision market is segmented into the component, product, application, end-use, and region. Based on the component, the market can be segmented into hardware and software. The hardware segment encompasses LEDs, optics, processors, and cameras while the software segment includes application-specific software and deep learning. Growing significance of AI-infused machine vision software is anticipated to fuel the industrial machine vision market. Capabilities of deep learning to provide real-time solutions facilitate the detection of faults during the manufacturing process and aid the technology to gain popularity.

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Based on application, the industrial machine vision market can be classified into identification, measurement, positioning & guidance, and quality assurance & inspection. The quality assurance & inspection segment will witness growth owing to the increasing demand for high-quality products in less amount of time. Utilization of machine vision enhances the automation process by identifying problems in a short span of time. In addition, the rising requirement of industries to reduce operational costs and improve the response time is contributing to the industry demand.

Based on application, the industrial machine vision market can be classified into identification, measurement, positioning & guidance, and quality assurance & inspection. The quality assurance & inspection segment will witness growth owing to the increasing demand for high-quality products in less amount of time. Utilization of machine vision enhances the automation process by identifying problems in a short span of time. In addition, the rising requirement of industries to reduce operational costs and improve the response time is contributing to the industry demand.

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Key players operating in the industrial machine vision market include Omron Corporation, Teledyne Technologies, Keyence Corporation, MVTec Software GmbH, National Instruments, Texas Instruments, Baumer Optronic, Qualitas Technologies, Sick AG, and ISRA Vision AG. Companies operating in the industry are trying to strengthen their market presence in emerging economies with the launch of advanced solutions and by involving in merger & acquisition activities.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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