Northbrook, IL -- (SBWIRE) -- 12/29/2017 -- The countries in APAC such as China, Japan, India, and South Korea have some of the largest manufacturing facilities in the world, wherein automation of manufacturing processes has already been taken place. This factor is driving the growth of the market in APAC. In addition, intense competition in the market for consumer electronics is likely to boost the adoption of machine vision systems in APAC.

The major companies involved in the development of machine vision systems include Cognex Corporation (U.S.), Basler AG (Germany), Omron Corporation (Japan), National Instruments Corporation (U.S.), Keyence Corporation (Japan), Sony Corporation (Japan), Teledyne Technologies, Inc. (U.S.), Texas Instruments, Inc. (U.S.), Allied Vision Technologies GmbH (Germany), Intel Corporation (U.S.), Baumer Optronic GmbH (Germany), and JAI A/S (Denmark),

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This report covers the machine vision market based on component, product, application, vertical, and geography. The hardware component held the largest size of the studied market in 2015. Rapid changes in terms of manufacturing technology, innovation, and technical advancements in automotive and pharmaceutical industries are expected to drive the machine vision market. Under the hardware component, the camera segment held the largest size of the machine vision market and the market for the same is expected to grow at the highest rate during the forecast period. In future, the camera segment is likely to undergo more advancement with the introduction of 3D machine vision concept and is expected to bring new growth avenues for the studied market.

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With regard to the application segment, the market for the identification application is expected to grow at the highest rate during the forecast period. Machine vision systems are widely used for identifying the labels, barcodes, and texts to help in the entire automatic operation of packaging. It is mostly used in healthcare and consumer packaged goods sectors to resist the counterfeit products. This system makes the process fast and eliminates duplicate packets. It is also used for security purpose such as camera surveillance, traffic monitoring, number plate recognition, lane identification, and other intelligent transportation system.

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