Industrial Machine Vision Lenses Market Size Projected to Generate a Revenue of $19,939.40 Million by 2032Download Sample Reports Overview
The Global Industrial Machine Vision Lenses Market Size is predicted to be valued at $19,939.40 million by 2032, surging from $7,111.60 million in 2022, at a noteworthy CAGR of 11.4%.
Impact Analysis of COVID-19 on the Industrial Machine Vision Lenses Market
The pandemic has had an impact on the growth of the machine vision market, with a gradual decrease in demand due to the lockdown and COVID-19 norms. This is because many manufacturing sectors were closed due to lockdown and governmental standards, causing a halt in machine vision projects in their respective companies and factories, reducing the demand for machine vision machines. However, the lockdown limits have been loosened, resulting in the use of automation technologies such as machine vision by enterprises in order to reduce their manufacturing costs.
Various initiatives taken by companies to support industry projects helped the market to recover from the pandemic. For instance, in April 2020, The Insight D900 embedded vision system was unveiled by Cognex. Due to the inclusion of ViDi deep learning software from Cognex within an in-sight industrial-grade smart camera, the system is a first-of-its-kind solution. Optical character recognition (OCR), assembly verification, and defect identification are just a few of the complex in-line inspection applications that the self-contained system is designed to handle.
Global Industrial Machine Vision Lenses Market Analysis
The rise in demand for industrial applications as well as for vision guided robotics systems is the primary reason driving the growth of the global industrial machine vision lenses market. Machine vision lenses are becoming increasingly important in a variety of industrial applications. They provide advantages such as higher efficiency, better quality control, and increased output. Machine vision systems are used in industries such as automotive, electronics, pharmaceuticals, food and drinks, and packaging for activities such as inspection, measurement, identification, and sorting. The requirement for accurate and automated processes to assure product quality, decrease errors, and optimize production operations drives the demand for these industrial machine vision lenses. All these factor are anticipated to drive the industrial machine vision lenses market growth.
On the other hand, the lack of qualified specialists in manufacturing units is projected to limit the market share of machine vision systems to some extent. Implementing and operating machine vision systems necessitates specialized knowledge and abilities. Understanding the concepts of machine vision, experience with image processing methods, competency in programming and system configuration, and the ability to interpret and analyses collected data are all required. However, there is a scarcity of skilled experts with machine vision technology skills, which can make it difficult for enterprises to adopt and efficiently use these systems.
Due to various recent trends such as growth in edge computing, embedded machine vision, high resolution industrial machine vision cameras, availability of various industrial machine vision cameras lenses and customization, and so on, the market is expected to grow rapidly during the forecast period. Embedded machine vision is gaining popularity in the industrial machine vision camera market because it provides a compact and cost-effective solution for a wide range of industrial applications. Embedded machine vision cameras are intended to be integrated into other devices or systems, such as drones, mobile robots, and wearable gadgets, to increase their versatility and flexibility. Additionally, edge computing is gaining traction in the industrial machine vision lenses market since it provides various advantages over traditional cloud-based systems.
Global Industrial Machine Vision Lenses Market, Segmentation
The market is segmented on the basis of type, camera, application, end user, and region.
The type segment is classified into C-mount, CS-mount, F-mount, S-mount, and others. Among these, the CS-mount sub-segment is anticipated to be the fastest growing during the forecast period. The CS-mount is a tool that enables the camera to be installed on any piece of the machine vision system that isn't moving. By enabling unrestricted movement of the camera, lens, and sensor, it offers stability and accuracy. The most common machine vision cameras, such as thermal cameras, digital still cameras, video security cameras, and optical sensors, can all be used with the CS-Mount.
The camera segment is further classified into line scan camera and area scan camera. Among these, the line scan camera sub-segment is projected to witness the highest CAGR. Compared to area scan systems, line scan systems have some distinct advantages. When the camera needs to peer between conveyor rollers to examine the bottom of an item, line scan systems can more easily fit into small locations. In general, line scan systems can offer substantially greater resolution than conventional cameras. Line scan systems are frequently a good fit for products in continuous motion since they need moving parts to create the image.
The application segment is further classified into measurement and identification. Among these, the identification sub-segment is predicted to have the fastest growth during the forecast period. Machine vision systems are used in identification applications to precisely identify and categorize objects, goods, or parts in a variety of sectors. For the objectives of quality assurance, sorting, tracking, and authentication, these apps are essential. Machine vision lenses are essential for obtaining the precise and high-resolution pictures required for identification. For instance, barcodes and QR codes on products and packaging can be efficiently scanned by machine vision systems using the right lenses. This makes it possible for tracking, inventory management, and authentication procedures to be automated in sectors including manufacturing, shipping, and retail.
The end user segment is further classified into automotive, electronics & semiconductor, pharmaceutical & chemical, logistics, agriculture, food industries, and others. Among these, the electronics & semiconductor sub-segment is predicted to have the fastest growth during the forecast period. Machine vision lenses are widely used in many applications in the semiconductor and electronics sectors. To ensure the quality and dependability of electronic components, printed circuit boards (PCBs) must be thoroughly inspected for flaws using machine vision lenses. These lenses take precise pictures of PCBs, allowing automated inspection systems to find problems including misalignments, missing parts, and soldering flaws.
The industrial machine vision lenses market analysis in the North America region is projected to show the fastest growth during the forecast period. The manufacturing sector in North America is strong and includes sectors like consumer products, electronics, automobiles, and medicines. Machine vision systems are widely used in these sectors for process improvement, quality control, and inspection. The expansion of the manufacturing industry is closely related to the demand for machine vision lenses. In order to increase production, efficiency, and competitiveness, North American enterprises are progressively implementing automation and Industry 4.0 practices. Automated processes rely heavily on machine vision systems, and the lenses are crucial parts for accurately acquiring visual data. The region's need for machine vision lenses is driven by the expansion of automation and the adoption of Industry 4.0.
Key Players in the Global Industrial Machine Vision Lenses Market
Some of the leading industrial machine vision lenses market players are
- Kowa Lenses
- Myutron Inc
- Computar (CBC Group)
- Kenko Tokina Co