The global machine vision market is predicted to register a CAGR of 8.15% during the forecast period, 2021-2028 – Yahoo Finance

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KEY FINDINGS The global machine vision market is predicted to register a CAGR of 8. 15% during the forecast period, 2021-2028. The increasing automation in factories, growing need for quality inspection, surging demand from various end-users, and product miniaturization propel market growth.
New York, Nov. 11, 2021 (GLOBE NEWSWIRE) — announces the release of the report "GLOBAL MACHINE VISION MARKET FORECAST 2021-2028" –

A machine vision system (MVS) is a technology that enables a computing device to inspect and identify still or moving images. It entails integrating several critical components like back-end image processing hardware, software, and digital cameras.
There is an ongoing trend of product miniaturization.It entails manufacturing smaller electronic and optical devices or products.

It refers to increased aptitude and reduced size.Also, there is a rising inclination towards small-sized machines and small gadgets.

However, miniaturized products have complex structures.And hence, they require inspection.

At the same time, the human visual sense is incapable of inspection of such structures. As a result, there is an increasing need for advanced systems to inspect and measure miniaturized products.
The machine vision system substitutes the human visual inspection and judgment capabilities.It uses cameras with different functionalities, image processing, and sensors for measurements and inspections.

Thus, machine vision systems effectively inspect and measure miniaturized machines, devices, and products.Such factors drive the global machine vision market growth.

However, the market growth is hindered by the absence of standardization, lack of skilled personnel and awareness, price sensitivity in Asia-Pacific, and difficulties in implementing machine vision systems.

The global machine vision market growth assessment includes the geographical analysis of North America, Europe, Asia-Pacific, and Rest of World. Asia-Pacific is projected to be the fastest-growing and dominating region in the global market, attributed to favorable government initiatives and policies.

The market is highly competitive with the presence of several local, regional, and international players that range from small to large vendors. Cognex Corporation, Flir System, Baumer Optronic GmbH, Basler AG, Datalogic Spa, etc., are among the eminent firms in the market.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments

Companies mentioned
7. JAI A/S
Read the full report:

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