Vision Inspection Systems Market (By Offering: Hardware, Software, Services; By Product: PC Based, Smart Camera Based; By Application: Quality Assurance & Inspection, Positioning & Guidance, Measurement, Identification; By End-use: Automotive, Pharmaceuticals & Chemicals, Electronics & Semiconductor, Pulp & Paper, Printing & Labeling, Food & Beverage (Packaging and Bottling), Glass & Metal, Postal & Logistics, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast 2020 - 2027

Category : Semiconductor and Electronics | Delivery Format : PDF | Status: Published | Pages : 190

The global vision inspection systems market is expected to grow at a CAGR of around 13.5% from 2020 to 2027 and expected to reach the market value of around US$ 25.5 Bn by 2027.

Vision inspection systems (also known as machine vision systems) automate image-based inspection for a wide range of industrial and manufacturing applications. Though not a new technology, 2D and 3D machine vision systems are now widely used for automated inspection, robot guidance, quality control and sorting, and a variety of other applications. These intelligent inspection systems are outfitted with a camera or cameras, as well as video and lighting. Vision systems can measure parts, verify that they are in the correct position, and recognize the shape of parts.  Furthermore, vision systems are capable of measuring and sorting parts at high speeds. To capture data, computer software processes images captured during the process that is being evaluated. The vision system can be intelligent enough to make decisions that affect the function being evaluated, often in a pass/fail capacity to prompt an operator to act.  These systems can be integrated into your lines to provide a continuous stream of data.

Market Trends

Automated visual inspection systems gives cut throat competition to the traditional human inspection in-line assembly at manufacturing plants

Electronics manufacturing processes are now largely automated, according to a report released by the Association for Advancing Automation. However, there has been a lack of an effective automated solution for final inspection of board-based connected assemblies that ensures both consistency and accuracy. Human inspectors remain the primary inspection method at the final stages of production where internal components are verified before electronics are enclosed or after functional testing. If an automated solution is used in these contexts, the technology must provide the same level of visual acuity and judgment to ensure failures do not escape or result after goods are shipped. Radiant's new INSPECT assembly system, for example, is a turnkey inspection station that employs "ProMetric® Y" imaging systems with camera resolution (up to 29 megapixels) and dynamic range (above 70 dB) far exceeding the specifications of typical machine vision systems. For the most difficult assemblies, the assembly system rivals human visual acuity and judgment in detecting defects while quantifying visual data for automated operations, bridging the gap between human and machine vision inspection.

Top impacting factors for the global visual inspection systems market

The rise in demand for industrial applications, as well as the rise in demand for vision guided robotics systems, is the major factors driving the growth of the global vision inspection system market. Furthermore, the rise in AI demand and the adoption of Industry 4.0 are expected to provide a lucrative vision inspection system market opportunity globally. Because of the increasing need for efficient and reliable inspection and measurements, the technology is seeing widespread adoption in industrial operations and is significantly replacing manual inspection and measurements. Smart cameras and image processing are used in vision inspection systems to perform measurements and inspections.

COVID-19 analysis on visual inspection system market

The COVID-19 pandemic, which began in late 2019 and continued into 2020, introduced a new factor affecting the global economy. Due to travel restrictions, local regulations, or social distancing rules, COVID-19 has made product qualification quite difficult. Some labs have established remote testing program in order to continue development and testing activities while ensuring personal safety. Another point is related to product inspection and final quality assurance via users. Due to the downtime required for test setup and equipment movement, such activity usually necessitates the presence of the end user on-site. Due to the manufacturer's site access restrictions, remote solutions for factory acceptance tests were also implemented here. According to CIGRE statistics, economic slowdown has a significant impact on the industry. An example from the Brazilian economy illustrates the financial impact on a global scale. Electricity consumption is expected to fall from 4.7% in an "optimistic" scenario to 12.3% in a "pessimistic" scenario. The projections assume a 3.6% decline in Brazilian GDP (Gross Domestic Product) in the optimistic scenario and a 9.5% percent decline in the pessimistic scenario. The majority of Europe has adopted some form of lock-down, and several countries have already begun to relax rules as of June 2020. GDP growth is expected to be positive in 2021, but lower than in 2020.

Market Segmentation

The global visual inspection systems market is segmented as offering, product, application, and end-use. Offering is segregated as hardware, software, and services. By product, the market is classified into PC based and smart camera based. Further, application is segmented as quality assurance & inspection, positioning & guidance, measurement, and identification. End-use is further segmented as automotive, pharmaceuticals & chemicals, electronics & semiconductor, pulp & paper, printing & labeling, food & beverage (packaging and bottling), glass & metal, postal & logistics, and others (agriculture, security & surveillance, rubber, plastics, solar paneling, machinery, and others)

Based on offering, the hardware segment has dominated the global visual inspection system market in the past and is expected to do so in the future. Based on product, the PC-based segment will account for the dominating share of the global visual inspection system market. Furthermore, the quality assurance and inspection segment will account for the largest share of the global visual inspection system market. Furthermore, based on end-user, the automotive industry will account for a significant portion of the global visual inspection system market.

Regional Landscape

Asia Pacific records dominating share for the visual inspection system market

The visual inspection system market is expected to be dominated by Asia Pacific. This is due to lucrative opportunities in the Asia Pacific region for automotive, packaging, pharmaceutical, and other industrial applications. APAC countries such as China, Japan, India, and South Korea have some of the largest manufacturing facilities where automation of manufacturing processes is a top priority. Furthermore, strong competition among consumer electronics companies in APAC is expected to boost the region's adoption of visual inspection systems.

On the other hand, increasing investments in R&D activities are being made to improve machine vision technology and related developments, as a result of which prominent players are undertaking strategic initiatives such as distribution alliances, partnerships, mergers, and acquisitions. As a result, all of these factors are expected to drive market growth in the Asia Pacific region.

Competitive Landscape

The prominent players of the global visual inspection system market involve Allied Vision Technologies GmbH, Basler AG, Cognex Corporation, Keyence Corporation, LMI TECHNOLOGIES INC., Omron Microscan Systems, Inc., NI, (National Instruments Corporation), and among others

Market Segmentation

Market By Offering

Hardware
Software
Services

Market By Product

PC Based
Smart Camera Based

Market By Application

Quality Assurance & Inspection
Positioning & Guidance
Measurement
Identification

Market By End-use

Automotive
Pharmaceuticals & Chemicals
Electronics & Semiconductor
Pulp & Paper
Printing & Labeling
Food & Beverage (Packaging and Bottling)
Glass & Metal
Postal & Logistics
Others (Agriculture, Security & Surveillance, Rubber, Plastics, Solar Paneling, Machinery, and Others)

Market By Geography

North America
•    U.S.
•    Canada

Europe
•    U.K.
•    Germany
•    France
•    Spain
•    Rest of Europe

Asia-Pacific
•    China
•    Japan
•    India
•    Australia
•    South Korea
•    Rest of Asia-Pacific

Latin America
•    Brazil 
•    Mexico
•    Rest of Latin America

Middle East & Africa
•    GCC
•    South Africa
•    Rest of Middle East & Africa


Frequently Asked Questions

Vision inspection systems market is expected to reach a market value of around US$ 25.5 Bn by 2027.

The vision inspection systems market is expected to grow at a CAGR of around 13.5% from 2020 to 2027.

Based on offering, hardware segment is the leading segment in the overall market.

Rise in demand for industrial applications and growth in demand for vision guided robotics systems is one of the prominent factors that drive the demand for vision inspection systems market.

Allied Vision Technologies GmbH, Basler AG, Cognex Corporation, Keyence Corporation, LMI TECHNOLOGIES INC., Omron Microscan Systems, Inc., NI, (National Instruments Corporation), and among others.

Asia Pacific is anticipated to grab the highest market share in the regional market

North America is expected to be the fastest growing market in the forthcoming years

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