Global Machine Vision Industry Set to Witness Lucrative Growth at a Steady CAGR of 7.5% by 2030, On Mounting Electronics Manufacturing

One of the renowned consulting, data analytics, and market research firms, Markntel Advisors published an analytical report titled, Global Machine Vision Market Research Report: Forecast (2025-30). The report consists of several factors that influence the growth of the Global Machine Vision industry. The prominent reason behind the rising demand is the growing adoption of consumer electronics such as mobile phones, laptops, washing machines, refrigerators, etc., across the globe. Additionally, the rising consumer inclination towards smart home devices, 5G devices, routers, etc., has been further increasing the overall electronic manufacturing sector.

According to the report, the Global Machine Vision Market size is valued at USD 13.1 billion in 2024 & is estimated to grow at a CAGR of around 7.5% during the forecast period, i.e., 2024-30. The industry growth is further driven by the rising growth of machine vision components in the automotive sector owing to increasing demand and adoption.

Leading Segmentation Analysis Based On End User and Component

The Global Machine Vision market is segmented into seven segments, component, end user, application, product type, technology, deployment, and region

• Based on Component, the market is segmented into Hardware, [Cameras, Optics, Frame Grabbers, LED Lighting, Others (Processors, Sensors, etc.)], Software, [Deep Learning Software, Image Acquisition Software, Image Processing Software, Others (Application Software, Open Source Software, etc.)], Services
• Based on End User of Machine Vision, the market is segmented into Automotive, Electronics, Food and Beverages, Healthcare, Textile, and Others (Retail, Printing, etc.)
• Based on Application, the market is segmented into Quality Assurance & Inspection, Guidance & Navigation, Identification & Verification, and Others (Process Control, Management, etc.)
• Based on the Product Type, the market is segmented into PC-Based Machine Vision, and Smart Camera-Based Machine Vision
• Based on Technology, the market is segmented into 1-D, 2-D, and 3-D
• Based on Deployment, the market is segmented into General, and Robotic Cell
• Based on Region, the market is segmented into North America, South America, Asia-Pacific, the Middle East & Africa, and Europe

Key Takeaways

• Customization: 7.5%
• Study Period: Global Machine Vision market report historical data – 2019-22, Base year –2023, and Forecast Period- 2024-30. 
• Market Growth: The Global Machine Vision market is estimated to grow at a CAGR of around 7.5% during the forecast period, i.e., 2024-2030.
• Growth Driver: The Global Machine Vision market is expected to expand owing to the proliferation in electronics manufacturing
• Growth Challenge:The Global Machine Vision market is expected to be hampered owing to the lack of skilled professional to operate machine vision solutions
• By Component: The hardware segment led the market segment, owing to increasing incorporation of various cameras, processors, sensors, lenses, etc., in the manufacturing units
• By End User: The healthcare segment dominates the market owing to increasing pharmaceutical manufacturing across the world

Frequently Asked Questions (FAQs)-

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What leading factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & Global Machine Vision adoption?
5. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?