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Machine Vision Systems & Components Market worth $ 5 Billion – 2018 at a CAGR of 8% - New Report by MarketsandMarkets.
Date:7/7/2013

setup are expected to drive the market in coming five years. Embedded machine vision is also expected to establish itself in various industrial and non industrial verticals.

Among all the component market segments, the camera component of the set up commanded the largest share in terms of revenues in 2012, while Optics, frame grabber and lightning segment, which are clubbed together for the calculation purposes; and software & hardware component share similar share in overall cost of the system. It is also expected to be the fastest growing market, growing at a CAGR of 10.1% from 2013 to 2018. The higher demand for centralized processing and lower cost of the system clubbed with ease to install and use are some of the drivers for this segment.

Machine vision applications market has been segmented in four types namely location, measurement, inspection, and identification. As of 2012, identification application market segment dominates the application market of machine vision. Inspection market segment is second largest segment which held a market share of around 32% in 2012. Locating application is expected to grow with a relatively high CAGR of 15% during the projection period. Machine vision components and systems complements and to some extend replaces the manual inspections and measurements with power full digital cameras and image processing. This has increased the scope of its applications.

As of 2012, industrial vertical accounted for the major part i.e.75% of the turnover of machine vision systems and components globally. This segment generated revenue of $2,394.35 million in 2012 and is expected to grow with a CAGR of 7.2% from 2013 to 2018. Non industrial vertical is emerging market and had generated revenues of $731.43 million in 2012 and is expected to grow a CAGR of 11.2% from 2013 to 2018

At present, Asia Pacific region dominates the global machine vision system & component market, which is also the fastest growin
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Source: PRWeb
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