Impact Analysis of COVID-19 on the Global Industrial Vision Market COVID-19 to affect the Global Industrial Vision Market
Market Synopsis
The data experts at Market Research Future Reports (MRFR) have conducted a thorough analysis of the global industrial vision market. As per the analysis, the market is projected to hold a value of USD 11 billion, expanding at a CAGR of 14% during the forecast period from 2017 to 2023.
The ability to be able to perform various preprocessing and segmentation algorithms is anticipated to be a pivotal factor driving the global industrial vision market 2020. The burgeoning technical advancement and their implementation in various sectors are likely to augment the market. Also, the growing manufacturing automotive industry is a pivotal element actuating the market. Furthermore, the increasing demand from various end-user industries for vision machine technology is likely to influence the market. Also, the continuous mergers and acquisition is an essential factor provoking the expansion. However, the spread of COVID-19 has led to a pause in the daily operational activities of the global industrial vision market. The data experts at MRFR have thoroughly analyzed the market and concluded the factors which are responsible for affecting the market positively and negatively. We will provide an impact analysis report on COVID-19.
Market Segmentation
The industrial vision market can be distinguished on the grounds of component, product, vertical, technology, and region.
- On the basis of component, the worldwide industrial vision market can be distinguished into hardware and software.
- On the grounds of product, the worldwide industrial vision market can be distinguished into PC based and embedded.
- On the grounds of vertical, the worldwide industrial vision market can be distinguished into automotive, consumer electronics, pharmaceutical, healthcare, metals, food & packaging, and others.
- On the grounds of technology, the worldwide industrial vision market can be distinguished into laser, imaging, and augmented.
- On the grounds of the region, the worldwide industrial vision market can be distinguished into Asia Pacific, North America, Europe and Rest of the World (RoW).
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Geographical Analysis
The worldwide market is estimated to expand significantly during the review period. Regions such as North America, Asia Pacific, Europe and Rest of the World (RoW) have been evaluated. As per the evaluation, North America is anticipated to reign the worldwide market. The presence of well-established organizations in the region is likely to augment the market further. Besides, the increasing demand from various end-user sectors for vision machine technology is a pivotal factor of market growth. The APAC region is predicted to grow exponentially during the review period. The existence of progressing countries like India, Japan, and China are anticipated to make crucial participation during the review period. Besides, the region is an important supplier of sensors, hardware, and cameras. It has been estimated that the demand for machine vision is estimated to play an important role to augment the market in the forthcoming period in various sectors. Sectors such as security, food and beverages, surveillance, and semiconductor are estimated to play a crucial role in actuating the market size. Europe is estimated to be a lucrative market owing to the existence of several manufacturers in the region. The market is Europe is blooming because of the increasing demand for quality inspection and the prevailing trend of product miniaturization in the region. However, the market dynamics are estimated to change due to the spread of COVID-19.
Key Players
The renowned vendors of the worldwide industrial vision market are
- Omron Corporation (Japan)
- Teledyne Dalsa (U.S)
- Cognex Corporation (U.S)
- Basler AG (Germany)
- Pixelink (U.S), JAI (U.S)
- Sick IVP (Germany)
- Adept Technologies Inc. (U.S)
- LMI Technologies (U.S)
- MVTech Software GmBH (Germany)
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