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Machine Vision Market Worth $9.50 Billion By 2020

The total value of the machine vision market is expected to reach $9.50 Billion by 2020, at an estimated CAGR of 12.51% from 2014 to 2020. it holds great potential across the automation industry. Machine Vision systems are used in many applications to provide more accuracy in manufacturing procedures and for proper inspection in detecting flaws.

The Americas dominates the market with regards to the market size in terms of value; however, APAC is expected to grow at the highest CAGR in the machine vision market. The competitive landscape of the market presents a very interesting picture. The market is witnessing new product launches and large scale collaborations, and agreements and partnerships across the value chain, with a number of tier-one players around the globe.

The major players in the machine vision industry are Cognex Corporation (U.S), Teledyne Dalsa (U.S), Basler AG (Germany), Soliton Technologies (India), Vitronic GmbH (Germany), Sick IVP (Germany), JAI (U.S), LMI Technologies (U.S), Adept Technologies Inc. (U.S), MVTech Software GmBH (Germany), Omron Corporation (Japan), Absolute Vision (U.K), Stemmer Imaging (U.K), ISRA Vision (Germany), and Edmund Optics (U.S), Pixelink (U.S) among others.

For the full version of this report, please visit the Markets & Markets website.