In a recent published report, Kenneth Research has updated the market report for Industrial Vision Systems Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Industrial Vision Systems Market products.
The Industrial Vision Systems Market is majorly affected by the recently hit global pandemic, COVID-19, which has devastated several businesses worldwide. Although, the ICT industry has observed a significant rise in the utilization of cloud applications, yet several manufacturing organizations in the ICT industry are facing significant issues, especially in places where the ICT infrastructure is not that satisfactory.
Global Industrial Vision Systems Market Analysis
According to Verified Market Research, the global Industrial Vision Systems Market was valued at USD 7.98 Billion in 2017 and is projected to reach USD 14.11 Billion by 2025, growing at a CAGR of 7.4% from 2018 to 2025.
What is Industrial Vision Systems?
Industrial vision systems are also known as machine vision system, describe the methods as well as technology that is used to extract information from an image in a way that is automated. Industrial vision system offers automatic image capturing, evaluation and processing capabilities. It mainly comprises of digital cameras, back-end image processing hardware and software. Applications of industrial vision system includes Positioning, Identification, Verification, Flaw Detection and Measurement.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Global Industrial Vision Systems Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Growing need for quality inspection and automation, rising demand for vision-guided robotic systems and growing adoption of 3D machine vision systems have been driving the global industrial vision systems market. On the other hand, changing end-user requirements and lacking flexible machine vision solutions might hamper the overall market at a global level.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Industrial Vision Systems Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market. This can be of a great use in gaining knowledge about the cutting-edge technologies in the market.
Global Industrial Vision Systems Market Competitive Landscape
The “Global Industrial Vision Systems Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Cognex Corporation, Teledyne Technologies, Inc., Keyence Corporation, National Instruments Corporation, Texas Instruments, Inc., Basler AG, Baumer Optronic GmbH, Sick AG, Omron Corporation, and Allied Vision Technologies GmbH. Other players in the value chain include Intel Corporation, Jai A/S, Canon Inc., Datalogic S.p.A., Sony Corporation, Adept Technology, IDS Imaging Development Systems GmbH, Machine Vision Technology, and Microscan Systems, Inc. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above mentioned players globally.
Global Industrial Vision Systems Market Segmentation, by Component
o Frame Grabber
o LED Lighting
o Deep Learning
o Application Specific
Global Industrial Vision Systems Market Segmentation, by Product
• PC-Based Vision System
• Smart Camera-Based Vision System
Global Industrial Vision Systems Market Segmentation, by Application
• Quality Assurance and Inspection
• Positioning and Guidance
Global Industrial Vision Systems Market Segmentation, by Vertical
• Consumer Electronics
• Electronics & Semiconductor
• Wood & Paper
• Food & Packaging
Global Industrial Vision Systems Market Geographic Scope
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific
• Latin America
• Rest of the World
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
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