Increase in the adoption of machine vision lenses in various industries across the globe and the growing research and developments in industrial machine vision systems are anticipated to drive the growth of the global industrial machine vision lenses market during the forecast period. The Asia-Pacific region is projected to hold the majority of market share by 2032.
PORTLAND, Ore., June 15, 2023 /PRNewswire/ -- Allied Market Research has recently published a report, titled, "Global Industrial Machine Vision Lenses Market by Type (C-Mount, CS-Mount, F-Mount, S-Mount, and Others), Camera (Line Scan Camera and Area Scan Camera), Application (Measurement and Identification), End User (Automotive, Electronics & Semiconductor, Pharmaceutical & Chemical, Logistics, Agriculture, Food Industries, and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global industrial machine vision lenses market generated $7.1 billion in 2022, and is anticipated to generate $19.9 billion by 2032, witnessing a CAGR of 11.4% from 2023 to 2032.
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Prime Determinants of Growth
An increase in the demand for quality control and inspection in the manufacturing industry is the factor expected to drive the growth of the global industrial machine vision lenses market in the forecast period from 2023 to 2032. However, the absence of skilled professionals to handle machine vision systems may hamper the industrial machine vision lens market growth in the coming future. On the contrary, the growing applications and rising investments by industry players in the research and development of advanced machine vision systems are expected to offer remunerative opportunities for the expansion of the industrial machine vision lenses market during the forecast period.
Report Coverage & Details:
Report Coverage | Details |
Forecast Period | 2023-2032 |
Base Year | 2022 |
Market Size in 2022 | $7.1 billion |
Market Size in 2032 | $19.9 billion |
CAGR | 11.4 % |
No. of Pages in Report | 320 |
Segments covered | Type, Camera, Application, End User, and Region |
Drivers | Rise in need for enhanced production, reduced errors, and better product quality in various manufacturing processes Increase in adoption of quality control and inspection in manufacturing industries |
Opportunities | Rise in application areas Growing investments in research and development |
Restraints | Lack of skilled professionals to operate machine vision systems |
COVID-19 Scenario
- The outbreak of the COVID-19 pandemic has had a positive impact on the growth of the global industrial machine vision lenses market. The global outbreak boosted the adoption of remote work and collaborated workforces in manufacturing industries due to lockdowns imposed in various countries across the globe.
- The industrial machine vision lenses market growth was fueled due to rising demand for machine vision lenses to enable remote operations during the pandemic period.
- Moreover, the demand for machine vision lenses in the healthcare sector for various medical equipment and devices increased significantly, thus boosting the market growth.
Type: C-mount Sub-segment to Hold Highest Share by 2032
The C-mount sub-segment of the global industrial machine vision lenses market accounted for the majority of the share in 2022. The prominent growth of the sub-segment is mainly because C-mount-type industrial machine vision lenses are greatly used owing to their compatibility and versatility with numerous camera systems. Besides, they help produce high-quality photographs at a faster rate.
Camera: Area Scan Camera Sub-segment to Hold Majority of Market Share by 2032
The area scan camera sub-segment was valued for the highest market share in 2022. The significant growth of the area scan camera sub-segment is mainly because it is extensively used in machine vision systems to capture static images of a whole scene or a particular area. Besides, area scan cameras are extremely important in industrial inspection and quality control procedures.
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Application: Identification Sub-segment to be the Most Dominant During the Forecast Period
The identification sub-segment accounted for the highest market share in 2022 and is expected to grow at a highest CAGR of 11.6% during the forecast period. The high demand for machine vision technology for conducting identification processes in various industries such as pharmaceuticals, logistics, manufacturing, automotive, and more is the major factor predicted to boost the sub-segment's growth by 2032. Besides, the growing use of industrial machine vision lenses in quality control and inspection processes is boosting the growth of the sub-segment.
End User: Electronics & Semiconductor Sub-segment to Hold Majority of Market Share by 2032
The electronics & semiconductor sub-segment of the industrial machine vision lenses market accounted for the highest share in 2022 and is expected to grow at the highest CAGR of 12.9% during the forecast period. The increasing demand for industrial machine vision lenses for use in the electrical and semiconductor industries in various processes such as inspection, quality assurance, and process automation are the factors projected to fuel the growth of the sub-segment over the forecast period.
Region: Asia-Pacific Market to Grab Highest Share by 2032
The industrial machine vision lenses market in the Asia-Pacific region is predicted to hold the highest market share over the forecast period. This growth is mainly owing to the rising adoption of robots and ML, AI, and big data in various industries in countries such as Japan, China, and South Korea, which is driving the demand for industrial machine vision lenses. In addition, growing development and application of machine vision systems in countries such as Japan, China, and Indonesia in the region are other factors expected to boost the demand for industrial machine vision lenses during the forecast period.
Leading Players in the Industrial Machine Vision Lenses Market:
- Schneider
- Fujifilm
- Computar (CBC Group)
- Nikon
- Myutron Inc
- Kenko Tokina Co
- Moritex
- Kowa Lenses
- Ricoh
- VST
The report provides a detailed analysis of the key players of the global industrial machine vision lenses market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Key Benefits For Stakeholders:
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the industrial machine vision lenses market analysis and industrial machine vision lenses market outlook from 2021 to 2031 to identify the prevailing market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global industrial machine vision lenses market trends, key players, market segments, application areas, and market growth strategies.
Industrial Machine Vision Lenses Market Key Segments:
By Type
- C-Mount
- CS-Mount
- F-Mount
- S-Mount
- Others
By Camera
- Line Scan Camera
- Area Scan Camera
By Application
- Measurement
- Identification
By End User
- Automotive
- Electronics and Semiconductor
- Pharmaceutical and Chemical
- Logistices
- Agriculture
- Food industries
- Others
By Region
- North America (U.S., Canada, Mexico)
- Europe (UK, Germany, France, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
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