Machine Vision Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Machine Vision Systems Market Report is Segmented by Component (hardware (vision Systems, Cameras, Optics and Illumination Systems, Frame Grabbers, and Other Types of Hardware) and Software), Product (PC-Based and Smart Samera-Based), End-User Industry (food and Beverage, Healthcare and Pharmaceutical, Logistics and Retail, Automotive, Electronics and Semiconductors, and Other End-User Industries), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The Market Size and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

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Machine Vision Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Machine Vision Systems Industry Overview

The machine vision systems market is highly fragmented, with the presence of major players like Cognex Corporation, Keyence Corporation, Omron Corporation, Isra Vision AG (Atlas Copco Group), and IDS Imaging Development Systems GmbH (Paul Hartmann AG). The players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.

  • October 2023: Emerson announced the acquisition of NI. NI increases Emerson’s end market exposure in discrete markets, which will be Emerson’s second largest industry segment. With approximately 20% of its sales in software, NI also increases Emerson’s exposure to high-growth industrial software markets. The acquisition of NI advances Emerson’s position as a global automation leader and expands its opportunities to capitalize on critical secular trends like nearshoring, digital transformation, sustainability, and decarbonization.
  • August 2023: Cognex Corporation acquired Moritex Corporation (Moritex) from Trustar Capital, a private equity affiliate of CITIC Capital Holdings Limited, for USD 275 million. Moritex is a leading global provider of optics components with a strong presence in Japan. Moritex is expected to contribute around 6-8% of Cognex’s revenue, and the acquisition is expected to be accretive to GAAP EPS in 2025.

Machine Vision Systems Market Leaders

  1. Cognex Corporation

  2. Keyence Corporation

  3. Omron Corporation

  4. Isra Vision AG (Atlas Copco Group)

  5. IDS Imaging Development Systems GmbH ( Paul Hartmann Ag)

  6. *Disclaimer: Major Players sorted in no particular order
Machine Vision Systems Market Concentration