Market Size of APAC Machine Vision Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 9.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
APAC Machine Vision Systems Market Analysis
The Asia Pacific Machine Vision Systems Market is expected to register a CAGR of 9.5% during the forecast period. COVID-19 created significant opportunities in the market. For instance, In 2020, India-based Nagarro launched AI-powered solutions based on machine vision technology to help organizations start work amid the COVID-19 crisis. In June 2020, India-based RayVision, a computer vision-based solution as part of RayReach Technologies, ventured into addressing COVID-19 monitoring, such as detecting face masks violation, crowding violation, social distancing violation, PPE violation, and hand sanitizer usage.
- The growing investment in automation and Industry 4.0 technologies, increasing need for safety and inspection vision systems, and high rate of product innovation are significant factors driving the growth of the Asia Pacific machine vision systems market. Machine vision applications like presence detection to real-time inspection and grading tasks in harsh environments are becoming standard across many industries. The recent COVID-19 has further expanded the scope of these applications.
- Over the year, the 2D machine vision system has gained significant application across the region. However, due to many limitations, many end-user industries are embracing 3D systems. Market vendors like OMRON are increasingly investing in the development of 3D machine vision systems.
- Further, Industry 4.0 fueled the development of technologies like robots playing a crucial role in industrial automation, with many core operations in industries being managed by robots. Also, 3D machine vision supports new applications, such as vision-guided robotics and automated butchering. These vision-guided robots are a combination of 2D and 3D cameras.
- Also, AI-powered machine vision is reshaping entire industries ranging from robotics and retail to healthcare and manufacturing. Companies are shifting from an AI vision solution, integrated image sensor module, cables, and GPU modules, to a ready-to-develop edge AI smart camera vision system, which reduces the effort of software and hardware integration, allowing AI vision developers to focus on application development.
