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Venkat Reddy
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Machine Vision Market Experiencing Expansion Due to the Demand for Quality Assurance and Inspection
The demand for Machine vision Market will rise at a CAGR of 9.20% during the forecast period 2019-2025., 9/13/2019 - The manufacturing industry is going through a revolutionary change as Industry 4.0 is leading to technological disruptions. In the era of Internet of Things (IoT), new-age PC systems, big data, and cloud computing, machine vision is a technology that has gained a permanent indispensability as it provides visual assistance to processes in a manufacturing unit through advanced optics, which reduces the need for supervision or monitoring, thereby aiding to an automated quality assurance and inspection. Industrial robots are gradually gaining grounds for robotic guidance manufacturing industry process control. So, the machine vision market companies are consistently innovating in order to gain maximum traction from the manufacturing industry. For instance, Cognex, one of the leader in the Machine Vision Market , recently introduced an innovative new 3D technology that alleviates the challenges of high-speed assembly verification and in-line measurement applications. The latest development will bring advanced 3D inspection to factories and manufacturers.

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Machine vision is going through a transition phase as deep learning, edge computing, object recognition with point cloud, merged reality (virtual & augmented), and semantic instance segmentation are evolving at a rapid pace. Furthermore, with the growing demand for drones to instill better security and surveillance, the machine vision market is making strides worldwide. While the machine vision market will gain significant traction from the manufacturing sector, the global transformation of the automotive industry with the advent of semi-autonomous and autonomous vehicles will create a thrust in the market and provide gainful opportunities to the players that will innovate in the outdoor computer vision technology.

The machine vision market size was valued to be $8.59 billion as of 2018. As the technology will witness latest developments and more industries will adopt machine vision for various processes, the demand for it will rise at a CAGR of 9.20% during the forecast period 2019-2025.

Machine Vision Market – Competitive Landscape:

The major players innovating in the machine vision market in order to gain maximum traction from the end-use industries are Cognex Corporation, Omron Corporation, Sony Corporation, Panasonic Corporation, Microscan Systems, Inc. (Spectris plc), Baumer Holding AG, Keyence Corporation, Basler AG, National Instruments Corporation, and Texas Instruments Incorporated.

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About IndustryARC: IndustryARC is a research and consulting firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.

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