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Global Machine Vision Market to 2025 with Focus on the Chinese Industry
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Dublin, May 10, 2019 (GLOBE NEWSWIRE) -- The "Global and China Machine Vision Industry Report, 2019-2025" report has been added to's offering.

In the wake of Industry 4.0, machine vision, a branch of the steadily growing AI industry is prospering. The global machine vision market was worth roughly USD8.9 billion in 2018, representing a year-on-year growth rate of 18.7%, and is projected to outstrip USD14 billion in 2025. The European and American regions have commanded over 70% of the market.

The Chinese machine vision market, which sprung up over the last decade, was valued at virtually RMB6.5 billion (approximately USD980 million at a ratio of 1:6.6174) in 2018, a spurt of 47.7% on an annualized basis, or 11.0% of the global total, before reaching estimated RMB7.9 billion in 2019. It is expected that the figure will exceed RMB17 billion in 2025.

Machine vision was first applied to semiconductor and electronics manufacturing, automotive manufacturing and pharmaceutical production among other fields, where it sustained annual growth rates of over 20% on average during the period 2015-2018. The prevalence of intelligent manufacturing will be a boon for the penetration of machine vision in these sectors.

Besides traditional manufacturing, machine vision has also found broad application in security, intelligent transportation and new retailing in recent years. In particular, favorable policies concerning the safe city and smart city programs have resulted in the rapid adoption of the technology in security and intelligent transportation, in which it grew at an AAGR of over 50% in recent two years.

The global machine vision industry is not highly concentrated now. The world's key suppliers consist mainly of American, Japanese and Chinese players, such as Keyence, Cognex, Panasonic, Omron, and Daheng New Epoch Technology. In 2018, the global market recorded lower than 40% in CR5 but boasted a relatively stable competitive pattern: Keyence was still the champion with a market share of 10%, followed by Cognex, while Daheng New Epoch Technology as the largest provider of machine vision systems in China was less competitive with a mere 1.6%.

The expansion of the machine vision market comes with a growing number of entrants, which may lead to a lower industry concentration. Currently, conventional suppliers work hard to gain a firm foothold, and some outsiders also try to enter the market by way of investment and acquisition as they did in 2019, when Facebook and Alibaba made their deployments through buying machine vision firms.

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