Machine Vision Systems and Components Market - Forecast(2021 - 2026)
The global machine vision system and components market generated a revenue of $7882.5 million and expected to rise with a CAGR of 8.64% during 2018-2023. The hardware component of the machine vision market which generated a revenue of $5043.2 million in 2017 is estimated to grow at a higher CAGR of 9.20% when compared to software component. The global machine vision camera market has increased due to increase in automation in several industries. The development of advanced sensors and software algorithms for machine vision systems is one of the factors driving the market. What are Machine Vision systems and components? Machine vision system consist of a combination of hardware and software to provide operational guidance to devices to capture and process the images. These systems rely on sensors with specialized optics to process analyze and measure various characteristics for decision making. A machine vision system helps to inspect object details too small to be seen by the human ey