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Machine Vision Software Market Size - By Technology (PC-based, Smart Camera-based, Embedded), By Application (Quality Control & Inspection, Robotics & Automation, Packaging & Labeling, Surface Inspection, Security & Surveillance), End-Use & Forecast 2023 – 2032

  • Report ID: GMI6343
  • Published Date: Jul 2023
  • Report Format: PDF

Machine Vision Software Industry Analysis

Machine Vision Software Market size was valued at USD 1.2 billion in 2022 and is anticipated to register 19% CAGR between 2023 and 2032. Continuous advancements in machine vision software, including real-time processing, edge computing, and cloud-based solutions, have helped expand its capabilities and potential applications.
 

Machine Vision Software Market

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Likewise, Microsoft Azure Computer Vision service offers a variety of machine vision capabilities, including object detection, facial recognition, and barcode scanning. It can be used to build applications for several industries, such as retail, manufacturing, and healthcare. Consistent efforts by companies operating in this space toward integrating cutting-edge technologies into their products will boost the machine vision software industry growth.
 

The need for precise and consistent quality inspection, defect detection, and process automation in various industries is propelling the adoption of machine vision software. Major tech giants have been leveraging machine vision software for quality inspection and automating their operations, helping the industry gain momentum. On the other hand, factors such as lack of skilled workforce, perception of high maintenance and support costs, and challenges with complex environments and varied lighting conditions may drive down market growth.
 

COVID-19 Impact

The COVID-19 pandemic has had a significant impact on the machine vision software market. With the rise of social distancing measures and remote work, the demand for machine vision software has increased as businesses look for ways to automate their processes and reduce human interaction. At the same time, supply chain disruptions and economic uncertainty led to cautious investments in technology, which led to sluggish market growth. As the world continues to navigate the pandemic, the market is likely to witness both challenges and opportunities in the coming months.
 

Machine Vision Software Business Trends

As technology evolves, machine vision software becomes more cost-effective and accessible to businesses of different sizes, encouraging wider adoption. Besides, increasing application scope across the retail and consumer electronics industries will carve a healthy growth trajectory for the machine vision software market. Retail applications benefit from machine vision software for inventory management, customer behavior analysis, and checkout processes, while consumer electronics use it for facial recognition and gesture control.
 

Machine Vision Software Technology Segmentation

Machine Vision Software Market Revenue, By Technology, 2021 – 2032, (USD Billion)

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The PC-based machine vision segment is expected to grow at a CAGR of around 17.5% through 2032. Modern PCs offer high processing power and computational capabilities, making them suitable for complex image analysis and machine vision tasks. PC-based machine vision software can leverage this processing power to perform real-time image processing and analysis, enabling industries to achieve high-speed and accurate results. PC-based machine vision software allows for greater flexibility and customization compared to dedicated hardware solutions. Users can choose from a wide range of software tools and libraries that best suit their specific application requirements, ensuring a tailored solution that meets their unique needs.
 

Machine Vision Software End-Use Segmentation

Machine Vision Software Market Share, By End-Use, 2022

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The healthcare segment of machine vision software market crossed USD 175 million in 2022. The healthcare industry has seen an increasing demand for machine vision software due to its ability to detect and analyze medical images accurately. This technology allows for faster and more precise diagnoses, improving patient outcomes and reducing the risk of human error. Moreover, machine vision software can assist with surgical procedures by providing real-time imaging and guidance, enhancing the safety and effectiveness of surgeries. These benefits are influencing the adoption of machine vision software in healthcare, revolutionizing the way medical professionals approach diagnosis and treatment.
 

Machine Vision Software Regional Analysis

North America Machine Vision Software Market Revenue, 2021 -2032, (USD Million)

North America held approximately 35% share of the machine vision software market in 2022. Machine vision software is gaining traction in North America due to its ability to enhance manufacturing efficiency, product quality, and automation in various industries. For instance, the automotive sector employs machine vision software for quality control and assembly line inspection. In the healthcare industry, it aids in medical imaging and diagnostics. Additionally, e-commerce and retail companies utilize it for inventory management and customer analytics, impacting the demand for machine vision solutions in the region.
 

Machine Vision Software Industry Leaders

Major companies operating in the machine vision software market are Allied Vision Technologies GmbH, Basler AG, Baumer Group, Cognex Corporation, FLIR Systems, Inc., Hikvision Digital Technology Co., Ltd., Omron Corporation, Keyence Corporation, National Instruments Corporation, Sony Corporation. These industry leaders have extensive experience, advanced technologies, and a strong market presence, enabling them to contribute to the market growth.
 

Machine Vision Software Industry News

  • In February 2022, Cognex announced the launch of its Cognex VisionPro 2022 software. This new software includes a number of new features and enhancements, such as improved object recognition, better defect detection, and faster processing speeds.
     

This market research report on machine vision software includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments:

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By Technology

  • PC-based machine vision
  • Smart camera-based machine vision
  • Embedded machine vision

By Application

  • Quality control & inspection
  • Robotics & automation
  • Packaging & labeling
  • Surface inspection
  • Security & surveillance
  • Others

By End Use

  • Manufacturing
  • Automotive
  • Electronics & semiconductor
  • Healthcare
  • Transportation & logistics
  • Retail & consumer electronics
  • Banking & finance
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Singapore
    • Australia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • GCC
    • South Africa

 

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size for machine vision software was reached USD 1.2 billion in 2022 and is projected to grow at a CAGR of over 19% between 2023 and 2032.

The healthcare segment was valued at USD 175 million in 2022. The healthcare industry has seen an increasing demand for machine vision software due to its ability to detect and analyze medical images accurately.

North America held a dominant market share of over 35% in 2022. Machine vision software is gaining traction in North America due to its ability to enhance manufacturing efficiency, product quality, and automation in various industries.

Allied Vision Technologies GmbH, Basler AG, Baumer Group, Cognex Corporation, FLIR Systems, Inc., Hikvision Digital Technology Co., Ltd., Omron Corporation, Keyence Corporation, National Instruments Corporation, and Sony Corporation.

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  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 269
  • Countries covered: 18
  • Pages: 256
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