The North America industrial machine vision market is accounted to reach USD 9,650.4 million by 2024 from USD 5,022.4 million in 2016, at a CAGR of 8.6% in the forecast period 2017 to 2024.
The major factors driving the growth of this market are rising demand for quality inspection and increasing need for specific machine vision systems migration towards 3D-based machine vision systems rising number of applications in various industrial sectors On the other hand, absence of flexible machine vision solutions and unpredictable end-user needs hinders the market growth.
The key market players for North America industrial machine vision market are listed below;
Cognex Corporation
Basler AG
Sony
The market is further segmented into;
component type,
product,
application
vertical
The North America industrial machine vision market is segmented on the basis of component type, product, application and vertical. On the basis of component type, the North America industrial machine vision market is segmented into cameras, frame grabbers, optics, led lighting, software tools and processor In 2017, cameras segment is expected to dominate the North America industrial machine vision market with 69.0% market share and is expected to reach USD 6,757.3 million by 2024, growing with the highest CAGR of 8.8% in the forecast period 2017 to 2024.
On the basis of product the North America industrial machine vision market is segmented into PC-based machine vision systems and smart camera-based vision systems In 2017, PC-based machine vision systems is expected to dominate the North America industrial machine vision market with 76.9% market share and is expected to reach USD 7,259.3 million by 2024, growing with a CAGR of 8.2% in the forecast period 2017 to 2024.
On the basis of application the North America industrial machine vision market is segmented into inspection, measurement, positioning and guidance, symbol reading, character recognition, part recognition and others In 2017, inspection is expected to dominate the North America industrial machine vision market with 51.3% market share and is expected to reach USD 4,912.7 million by 2024, growing with a CAGR of 8.4% in the forecast period 2017 to 2024.
On the basis of vertical the North America industrial machine vision market is segmented into automotive, electrical/electronics, food and beverage, rubber and plastic, metal, semiconductors, pharmaceuticals and cosmetics, medical devices, printing, glass, wood, others In 2017, automotive is expected to dominate the North America industrial machine vision market with 30.7% market share and is expected to reach USD 2,990.9 million by 2024, growing with a CAGR of 8.7% in the forecast period 2017 to 2024.
Based on geography, the North America industrial machine vision market is segmented into geographical regions, such as,
U.S.,
Canada
Mexico
Covered in this report
The report covers the present scenario and the growth prospects of the North America industrial machine vision market for 2018-2025. To calculate the market size, the report considers the revenue generated from the sales of the web conferencing and unified communication and collaboration (UC&C) and video conferencing, secondary resources and doing in-depth company share analysis of major 10 players in the market.
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