Press release
Automation and Machine Vision Market is Estimated to Reach USD 412.29 billion by 2028: Cognitive Market Research
Automation and Machine Vision Market is Estimated to Reach USD 412.29 billion by 2028: Cognitive Market Research
- Automation is the development and implementation of technology to create and deliver goods and services with minimum human interaction. Automation is becoming more common in the manufacturing, robotics, and automotive industries, as well as in the realm of technology, particularly in IT systems and business decision tools. Machine vision technology, on the other hand, allows industrial equipment to see what it is doing and make quick judgments based on what it sees. The technology is frequently used with artificial intelligence (AI), machine learning, and deep learning to speed up processing.
Summary:
- The Automation and Machine Vision Market is expected to grow from USD 412.29 billion by 2028, at a CAGR of 8.59%. Currently, the world is walking towards digitization. The industries are inclining towards automation and machine vision as a result. This demand is high in Asia Pacific region.
To know more about Automation and Machine Vision Market statistics click here: https://www.cognitivemarketresearch.com/automation-and-machine-vision-market-report
Market Dynamics
- Economic development supports several industries to increase the growth ratio. Among them, one factor is geographical region which is playing an important role in any market growth. Several countries are paving the way for industrial revolutions. In numerous countries, the government is taking initiatives to develop various power systems which are pushing industrialization. This drives the growth of the market.
- However, the risk of data security can hamper the growth of the market. During the third quarter of 2022, approximately 15 million data records were exposed worldwide through data breaches.
- Nonetheless, the world is currently moving toward industrial automation. The worldwide industrial automation market is predicted to increase to 297 billion USD by 2026, from 169 billion USD in 2019. Approximately 60% of all jobs could automate at least 30% of their duties. More robot adaptability leads to increased employment across the economy. This will drive the growth of the automation and machine vision market in near the future.
Market Segmentation:
- Type
• PC Based
• Smart Camera
• Embedded
- Application
• Quality Assurance and Inspection
• Positioning and Guidance
• Measurement
• Identification
Based on the Application, quality assurance, and inspection segment dominates the automation and machine vision market owing to the rising usage of technology for scanning and identifying labels, barcodes, and texts.
- End User
• Automotive
• Pharmaceuticals & Chemicals
• Electronics & Semiconductor
• Pulp & Paper
• Printing & Labeling
• Food & Beverage (Packaging and Bottling)
• Glass & Metal
• Postal & Logistics
• Others
Based on End Users, the automotive segment dominates the market due to the growing automotive industry and increasing usage of robotics in the automobile production process.
- Top Companies that hold a market share in Ferrous Metal Casting Machinery: Siemens, ABB Ltd, Emerson Process Management, Rockwell Automation Inc, Schneider Electric, Honeywell International Inc.
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Regional Analysis:
- Geographically, the global Automation and machine vision market is divided into regions like North America, Europe, Asia Pacific, Latin America, and Middle-east Countries. Asia Pacific dominates the automation and machine vision market owing to the rising industrial applications. Similarly, in many countries such as China, India, and Japan manufacturing industries are inclining towards automation for accuracy and speed. In addition, the rising support by the key players and government the drives regional growth.
News:
- In September 2022, Atos and BT have collaborated to launch a computer vision system that would assist change industries such as manufacturing and logistics. Digital Vision will integrate BT's industry-leading digital connection with Atos' Computer Vision Platform, a scalable end-to-end solution that will include pre-trained and customized AI models built by more than 300 computer vision specialists in labs across the world. The collaborative BT-Atos solution will increase customer security and monitoring by allowing the effective, real-time usage of video and picture data.
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
• 1.1 Global Automation and Machine Vision Industry Introduction
• 1.2 Objectives of the Study
• 1.3 USP of the Report
• 1.4 Who is this report for?
• 1.5 Designing of Market Scope
1.5.1 Segmentation
1.5.1 Regional Fragmentation
1.5.1 Market Players
• 1.6 Report Duration
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Global Automation and Machine Vision Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
Chapter 6 Qualitative Analysis
Chapter 7 Company Profiling (Subject to Availability)
Chapter 8 Global Automation and Machine Vision Market by Type Segmentation Analysis (2018-2030)
• 8.1 Detailed Qualitative Analysis
• 8.2 Global Automation and Machine Vision Revenue and Share (%) by Type (2018-2030)
8.2.1 PC Based
8.2.1.1 Global PC Based Market Share and Revenue (USD Million) for 2018-2030
8.2.2 Smart Camera
8.2.2.1 Global Smart Camera Market Share and Revenue (USD Million) for 2018-2030
8.2.3 Embedded
8.2.3.1 Global Embedded Market Share and Revenue (USD Million) for 2018-2030
Chapter 9 Global Automation and Machine Vision Market by Application Segmentation Analysis (2018-2030)
Chapter 10 Global Automation and Machine Vision Market Regional Analysis
Chapter 11 North America Automation and Machine Vision Market Outlook (2018 - 2030)
Chapter 12 Europe Automation and Machine Vision Market Outlook (2018 - 2030)
Chapter 13 Asia Pacific Automation and Machine Vision Market Outlook (2018 - 2030)
Chapter 14 Latin America Automation and Machine Vision Market Outlook (2018 - 2030)
Chapter 15 Middle East and Africa Automation and Machine Vision Market Outlook (2018 - 2030)
Chapter 16 Research Findings
Link for TOC: https://www.cognitivemarketresearch.com/automation-and-machine-vision-market-report#table_of_contents
Related Report:
• Factory Automation And Machine Vision Market- https://www.cognitivemarketresearch.com/factory-automation-and-machine-vision-market-report
• Machine Vision Systems Market-https://www.cognitivemarketresearch.com/machine-vision-systems-market-report
• Machine Vision Market- https://www.cognitivemarketresearch.com/machine-vision-market-report
• Machine Vision Cables Market- https://www.cognitivemarketresearch.com/machine-vision-cables-market-report
• 3D Machine Vision Systems Market- https://www.cognitivemarketresearch.com/3d-machine-vision-systems-market-report
𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
20 N State Street,Chicago,
Illinois, 60602
United States
USA: +1 312-376-8303
Europe and UK: (+44) 20-8144-9523
Asia Pacific: (+852) 81930785
Email: sales@cognitivemarketresearch.com
Website: https://www.cognitivemarketresearch.com/about-us
About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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