LONDON--(BUSINESS WIRE)--The machine vision market will witness an incremental growth of USD 4.42 billion during 2020-2024, according to the latest pandemic recovery-based research report by Technavio. Factors such as imposition of worldwide lockdowns have partially halted operations and affected supply chains and logistics. This has further impacted economies around the globe, resulting in an overall slowdown during 2020. However, businesses are gradually carving out unique pathways to recover from the COVID-19 crisis. With the exemption of lockdowns, growing incorporation of active social distancing and remote working, and surging entries of players in digital marketplaces, various industry and market conditions are likely to improve by early 2021.
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COVID-19 Highlights
- Industrials sector will have Negative impact due to the pandemic
- Machine vision market is expected to witness Neutral growth during 2020-2024
- Industrials Industry will witness Indirect impact during the forecast period
- Machine vision market growth is likely to Increase in 2020 compared to 2019 due to Positive YOY
Markets across the globe have faced the economic wrath of the pandemic and are dealing with uncertainties by banking on the online marketspace to reach out to a wider target audience. This machine vision market research report encompasses all possible factors expected to drive the market growth and create opportunities for all the stakeholders in the supply chain. View detailed machine vision market insights here: https://www.technavio.com/report/machine vision market-industry-analysis
Key Machine Vision Market Research Findings
- A CAGR of almost 8% is expected to be recorded in machine vision market during 2020-2024
- APAC will account for the highest incremental growth. The provision of innovative and low-cost cameras in the region by the vendors will significantly drive machine vision market growth in this region over the forecast period.
- Demand of machine vision systems from APAC will boost the machine vision market growth
- Incorporation of thermal inspection in machine vision systems will have a positive impact on the machine vision market
- Intense competition is likely to create hindrance for the machine vision market
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Machine Vision Market Vendor Participation Scenario
- Market is Fragmented
- Several leading companies in the market are focusing on restoring their economic activity
- Vendors are concentrating on growth prospects from fast-growing segments while retaining their positions in slow-growing segments.
- Prominent machine vision market players are Basler AG, Cognex Corp., Datalogic Spa, FLIR Systems Inc., JAI AS, Keyence Corp., OMRON Corp., Sony Corp., Teledyne DALSA Inc., and Toshiba Teli Corp.
With more companies navigating the pandemic gradually, this research analysis can be personalized to create a recovery path for the market participants. Try out our $1000 Worth Free Report Customization by Speaking to our Analyst or Industry Expert
Key Considerations for Market Forecast
- Products and services used to manage or contain the spread of COVID-19 virus
- Products and services used for the treatment of COVID-19 virus
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, base case, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- and post-COVID 19 market estimates
- Quarterly impact analysis as the spread reaches global level and updates on market estimates
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Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Market characteristics
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Industrial - Market size and forecast 2019-2024
- Non-industrial - Market size and forecast 2019-2024
- Market opportunity by End-user
Market Segmentation by Type
- Market segments
- Comparison by Type
- Vision system - Market size and forecast 2019-2024
- Cameras - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Type
Customer landscape
- Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Basler AG
- Cognex Corp.
- Datalogic Spa
- FLIR Systems Inc.
- JAI AS
- Keyence Corp.
- OMRON Corp.
- Sony Corp.
- Teledyne DALSA Inc.
- Toshiba Teli Corp.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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