PUBLISHER: Inkwood Research | PRODUCT CODE: 1329845
PUBLISHER: Inkwood Research | PRODUCT CODE: 1329845
The Europe machine vision market is evaluated to grow with a CAGR of 4.74% over the forecasted period of 2023-2032. Key factors augmenting the region's market growth include the implementation of environmental regulations as well as safety standards in order to maintain ecosystem balance, as well as the surge in government incentives in the manufacturing industry, leading to the steady adoption of smart factory solutions like machine vision.
The Europe machine vision market growth study evaluates the United Kingdom, Germany, Italy, France, Spain, and Rest of Europe. France houses leading manufacturing sectors, including aircraft, automobiles, trains, ships, electrical machinery, mechanical equipment, as well as machine tools. These industries are renowned for their technological innovation, particularly in aerospace, defense, and specialized fields.
Additionally, contributing significantly to France's GDP, the automotive industry plays a vital role in the economy. Companies like Bugatti, Renault, and PSA Peugeot Citroen rely extensively on industrial automation solutions in their production plants to cater to the global demand for luxury and premium segment passenger vehicles. The country's market is poised for growth with the materialization of the stimulus package provided by the French Government and the European Commission under the Horizon 2020 scheme. This initiative is expected to drive further advancements in the sector and enhance its overall performance. Thus, such factors are set to promote the Europe machine vision market growth over the forecast period.
Some of the main players operating in the market are: Basler AG, Allied Vision Technologies GmbH, etc.