The global machine vision laser market size is expected to grow from US$ 4.52 billion in 2023 to US$ 8.49 billion by 2031; it is anticipated to expand at a CAGR of 8.2% from 2024 to 2031. The increasing advancements in machine vision technology are likely to remain a key machine vision laser market trends.
The rising need for enhanced quality inspection and automation across various industry vertical is expected to fuel market growth.
Machine vision (MV) laser systems use video cameras, digital signal processing, and analog-to-digital conversion to let computers to view, examine, and assess job performance. These systems collect data, which is subsequently sent to a computer for processing and producing the required output. Resolution and sensitivity are two critical parameters in MV systems. Resolution determines the system's capacity to distinguish between things. At the same time, sensitivity refers to the machine's capacity to identify objects or weak signals in low-light settings or at wavelengths that are invisible to the human eye. These systems are critical in managing work environments, including functions such as process control, robotic guiding, and automated inspection in industrial applications.
Automation has grown in popularity across a variety of sectors, driven by the desire for increased efficiency and quality control. This tendency is especially prevalent in manufacturing and logistics. The deployment of automation processes has resulted in an increased need for machine vision systems, particularly laser-based technologies, to improve these automated operations. The use of automation in production and logistics provides several benefits. One key advantage is better control and uniformity of product quality. Automated systems often conduct production procedures with lower variability than human workers, allowing for more control over product quality.
Advancements in artificial intelligence (AI) and camera technology have considerably aided the machine vision market's growth and development. These improvements have improved the capabilities of machine vision systems, making them more precise and efficient in a variety of applications. One of the most significant advancements in machine vision is the rising use of Al and deep learning approaches. Algorithms and deep learning approaches enable computers to learn from data and improve their performance independently, without the need for human intervention. This has resulted in the creation of increasingly complex machine vision systems that can detect and analyze pictures or film with higher accuracy and speed.
Key segments that contributed to the derivation of the machine vision laser market analysis type, application, and end user.
The geographic scope of the machine vision laser market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. North America dominated the machine vision laser market in 2023. The increasing demand for automation and the integration of advanced imaging technologies in a wide range of industries are driving the machine vision laser market in North America. Furthermore, the focus on technological advancements by key players in the market is expected to drive the growth of the machine vision laser market. These advancements include the development of platform-independent software, smart cameras, 3D sensors, and vision controllers.
The regional trends and factors influencing the Machine Vision Laser Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Machine Vision Laser Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 4.52 Billion |
| Market Size by 2031 | US$ 8.49 Billion |
| Global CAGR (2023 - 2031) | 8.2% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Machine Vision Laser Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Machine Vision Laser Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The machine vision laser market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
(Source: Keyence Corporation, Press Release, 2023)
The "Machine Vision Laser Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
The machine vision laser market size is expected to grow from US$ 4.52 billion in 2023 to US$ 8.49 billion by 2031; it is anticipated to expand at a CAGR of 8.2% from 2024 to 2031.
The global machine vision laser market is expected to reach US$ 8.49 billion by 2031.
The increasing advancements in machine vision technology are likely to remain a key machine vision laser market trend.
The key players holding the majority of shares in the global machine vision laser are Keyence Corporation, ProPhotonix, RAYLASE GMBH, RPMC Lasers, and STEMMER IMAGING AG.
The rising need for enhanced quality inspection and automation across various industries is expected to fuel market growth.