Market Research Report
Global Machine Vision Logistics Market - 2021-2028
|Global Machine Vision Logistics Market - 2021-2028|
Published: January 7, 2022
Content info: 180 Pages
Delivery time: 2 business days
The global machine vision logistics market size was worth US$ XX million in 2020 and is estimated to reach US$ XX million by 2028, growing at a CAGR of XX% during the forecast period (2021-2028).
Machine vision (MV) systems use one or more video cameras, digital signal processing and analog to digital conversion to allow a computer to observe, inspect and scrutinize task performance. The data is subsequently sent to a computer, which analyses it and generates the desired output. Any machine vision system must have both high resolution and sensitivity. Resolution is responsible for distinguishing between things, whereas sensitivity refers to the machine's ability to detect objects or weak signals in dim light or at wavelengths invisible to the naked eye.
The market for machine vision is projected to be driven by the growing demand for quality inspection and automation in various industrial verticals. The increasing demand for vision-guided robotic systems in the food and beverage, automotive, pharmaceutical, chemical and packaging industries is also likely to drive market expansion.
The growing importance and need for quality inspection and automation are expected to drive the machine. However, the increasing risk of cyber-attacks on industrial machine robots and devices is expected to restraint the market.
Machine vision can help uncover faults in automated production processes in a short amount of time. As a result, prices are reduced and reaction times are improved. It also aids in detecting defective items, lowering the risk of product returns and increasing consumer satisfaction.
With the technology, all items on the manufacturing lines are checked equally and with the same concentration, which has raised the demand for machine vision in quality assurance. Also, the products are reworked if any defects are discovered. According to Forbes, machine learning to automate quality testing can raise problem detection rates by 90%.
The machine vision market has recently undergone substantial changes due to vision-guided robotics systems. In the automotive and consumer electronics industries, the usage of industrial robots for automation has increased. As a result, there is a growing demand for machine vision systems to be integrated with vision-guided robot controllers. Machine vision systems improve their efficiency by allowing robots to view and adapt to their surroundings.
Scanners can simply survey Internet of Things (IoT) devices, allowing for easy vulnerability hacking. Usernames and passwords that are not changed from the factory defaults can act as software flaws found through reverse engineering. Cyberattacks are becoming more vulnerable as people become more reliant on the internet and IoT devices like AI-embedded gadgets.
Logistics can benefit from AI machine vision and automation, but they must also keep an eye on the fundamentals of cyber security. Downloading and installing the most recent software and updates and educating employees on the latest cybersecurity safeguards are all part of cyber defense.
Following COVID-19, manufacturing companies globally vow to spend more on automation. In addition, as enterprises have grasped the necessity of automated quality assurance in production processes, their demand has grown. The COVID-19 outbreak has reduced human interaction in many processes and has exacerbated the demand. As a result, machine vision is now widely accepted as an essential component of long-term automation development processes.
Based on end-user, the global machine vision logistics market is segmented into automotive, electronics & semiconductor, health care, food & beverages and others.
Automobile manufacturers are focusing increasingly on automation in their production processes due to a scarcity of competent personnel. Machine vision is used to measure the dimensions of precision-machined components, including fasteners, transmissions and other sub-assemblies like IVS-ASAi.
Dimensional gauging is used in machine vision systems to measure lines, angles, diameters and tolerances. All the measurement guidelines and orders may be programmed into machine vision systems. Machine vision ensures that only parts with precise tolerance levels are put in the car assembly process. The increased production of hybrid and electric vehicles is likely to generate potential prospects for the automotive machine vision market.
The global machine vision logistics market is segmented into North America, Europe, South America, Asia-Pacific, and Middle East & Africa based on geography.
Asia-Pacific is one of the most prosperous regions in the machine vision market. Countries in the region, such as China and South Korea, have some of the most extensive manufacturing facilities, where automation is increasingly used. The region is rapidly adopting robots, which is projected to impact the region's machine vision industry. Favorable government actions are also projected to boost automation in the region. For example, the government of China's Made in China 2025 initiative encourages the utilization of R&D in factory automation and technologies and investments.
Furthermore, China's labor costs are rising year after year. As a result, businesses emphasize using automation technology to save production costs. Therefore, these factors are also propelling the region's machine vision industry forward. According to the China Machine Vision Union, machine vision market sales in China reached US$ 8,390 million in 2018, up 21.6% from 2017.
The global machine vision logistics market is highly competitive with several end-use industries such as automotive and electrical & electronics companies, resulting in high investment by multinational and local companies, contributing to the major share in the market growth. In addition, major players contributing to the market's growth are Inspekto, Atlas Copco, Cognex Corporation, Keyence, National Instruments Corporation, Teledyne DALSA, TKH Group, Sony Corporation, Omron Corporation, Basler and others. Further, the companies are adopting growth strategies such as expansions, acquisitions, product launches and collaborations, contributing to the market growth globally.
In November 2018, Inspekto launched an autonomous machine vision system, S70. The S70 system can be installed quicker than a conventional machine vision solution and reduced cost.
The global machine vision logistics market report would provide access to an approx. 77 market data tables, 74 figures and 180 pages.