The global industrial machine vision lenses market is envisioned to garner $19.93 Billion by 2031, growing from $7.11 Billion in 2021 at a CAGR of 11.4% from 2022 to 2031.
The growing need for smart cameras is predicted to drive the growth of the industrial machine vision lenses market. Smart cameras frequently assist a machine vision camera by digitizing and transmitting frames for computer analysis. A smart camera has a single image sensor Incorporated in it. They are typically designed for specialized applications where space constraints necessitate a small footprint. Smart cameras are used for a variety of automated functions, whether they are used to supplement a multipart machine vision camera or as standalone image-processing devices. Smart cameras are regarded as a useful solution for speeding automation methods or integrating vision systems into manufacturing operations due to their low cost and ease of usage. Smart cameras are in high demand in industrial production because manufacturers frequently utilize them for inspection and quality assurance. As a result, rising demand for smart cameras will propel the industrial machine vision lenses market across a variety of industrial applications.
However, the lack of qualified specialists in manufacturing units is projected to limit the market share of machine vision systems to some extent. Implementing and operating machine vision systems requires specialized knowledge and abilities. Developing of machine vision ideas, familiarity with image processing methods, programming and system configuration competencies, and the ability to understand and analyses acquired data are all required components in the machines for vision lenses. However, there is a scarcity of experienced professionals with machine vision technology skills, making it difficult for businesses to adopt and use these systems effectively.
Artificial intelligence (AI) demand is expanding, as is Industry 4.0 acceptance, presenting a profitable opportunity for the machine vision lens market globally. Machine vision technology uses cameras and image processing software to examine, assess, and direct automated activities in a range of industries. Machine vision lenses are required for clear picture capture and giving precise visual data to machine vision systems. Automation and intelligent systems are becoming Increasingly important in industries such as manufacturing, automotive, pharmaceuticals, electronics, and logistics as AI and Industry 4.0 concepts gain traction. Machine vision systems are utilized in a variety of industries to improve quality assurance, Increase output, ensure safety, and expedite procedures.
The COVID-19 pandemic has had a significant impact on the global industrial machine vision lenses market. The pandemic has disrupted the global supply chain and led to the closure of manufacturing plants and factories, which has affected the demand for machine vision lenses. The pandemic has led to a decrease in demand for industrial machine vision lenses as companies have cut back on capital expenditures due to economic uncertainty. Many companies have postponed or canceled projects that would have required machine vision lenses.
The key players profiled in this report Include Kowa Lenses, Myutron Inc, Computar (CBC Group), Nikon, Ricoh, Fujifilm, Schneider, Moritex, Kenko Tokina Co, and VST.
The growing need for smart cameras is predicted to drive the growth of the industrial machine vision lenses market. Smart cameras frequently assist a machine vision camera by digitizing and transmitting frames for computer analysis. A smart camera has a single image sensor Incorporated in it. They are typically designed for specialized applications where space constraints necessitate a small footprint. Smart cameras are used for a variety of automated functions, whether they are used to supplement a multipart machine vision camera or as standalone image-processing devices. Smart cameras are regarded as a useful solution for speeding automation methods or integrating vision systems into manufacturing operations due to their low cost and ease of usage. Smart cameras are in high demand in industrial production because manufacturers frequently utilize them for inspection and quality assurance. As a result, rising demand for smart cameras will propel the industrial machine vision lenses market across a variety of industrial applications.
However, the lack of qualified specialists in manufacturing units is projected to limit the market share of machine vision systems to some extent. Implementing and operating machine vision systems requires specialized knowledge and abilities. Developing of machine vision ideas, familiarity with image processing methods, programming and system configuration competencies, and the ability to understand and analyses acquired data are all required components in the machines for vision lenses. However, there is a scarcity of experienced professionals with machine vision technology skills, making it difficult for businesses to adopt and use these systems effectively.
Artificial intelligence (AI) demand is expanding, as is Industry 4.0 acceptance, presenting a profitable opportunity for the machine vision lens market globally. Machine vision technology uses cameras and image processing software to examine, assess, and direct automated activities in a range of industries. Machine vision lenses are required for clear picture capture and giving precise visual data to machine vision systems. Automation and intelligent systems are becoming Increasingly important in industries such as manufacturing, automotive, pharmaceuticals, electronics, and logistics as AI and Industry 4.0 concepts gain traction. Machine vision systems are utilized in a variety of industries to improve quality assurance, Increase output, ensure safety, and expedite procedures.
The COVID-19 pandemic has had a significant impact on the global industrial machine vision lenses market. The pandemic has disrupted the global supply chain and led to the closure of manufacturing plants and factories, which has affected the demand for machine vision lenses. The pandemic has led to a decrease in demand for industrial machine vision lenses as companies have cut back on capital expenditures due to economic uncertainty. Many companies have postponed or canceled projects that would have required machine vision lenses.
The key players profiled in this report Include Kowa Lenses, Myutron Inc, Computar (CBC Group), Nikon, Ricoh, Fujifilm, Schneider, Moritex, Kenko Tokina Co, and VST.
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 from 2022 to 2032 to identify the prevailing industrial machine vision lenses market opportunities.
- 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 industrial machine vision lenses 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.
Key Market 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
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of LAMEA
Key Market Players
- Kowa Lenses
- Myutron Inc
- Computar (CBC Group)
- Nikon
- Ricoh
- Fujifilm
- Schneider
- Moritex
- Kenko Tokina Co
- VST
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: INDUSTRIAL MACHINE VISION LENSES MARKET, BY TYPE
CHAPTER 5: INDUSTRIAL MACHINE VISION LENSES MARKET, BY CAMERA
CHAPTER 6: INDUSTRIAL MACHINE VISION LENSES MARKET, BY APPLICATION
CHAPTER 7: INDUSTRIAL MACHINE VISION LENSES MARKET, BY END USER
CHAPTER 8: INDUSTRIAL MACHINE VISION LENSES MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Industrial Machine Vision Lenses Market,' The industrial machine vision lenses market was valued at $7.1 billion in 2022, and is estimated to reach $19.9 billion by 2032, growing at a CAGR of 11.4% from 2023 to 2032.Industrial machine vision lenses are optical components built specifically for industrial machine vision systems. These lenses are essential for obtaining high-quality photographs or video footage of items or settings for examination, measurement, and control.
The increasing use of machine vision for quality control and inspection in industrial processes has been a major driver of market expansion. The increased deployment of industrial robots is one of the most important factors influencing the worldwide industrial machine vision lensed market. Industrial robots can execute repetitive and dangerous operations with great accuracy and speed, which contributes to overall efficiency and productivity gains in industrial processes. Industrial robots can 'see' and precisely identify items by employing machine vision cameras, which is necessary for operations such as pick-and-place, sorting, and assembly. Furthermore, the market has grown in recent years as a result of reasons such as expanding artificial intelligence use, increasing implementation of Industry 4.0, use of 3D machine vision, increasing adoption of industrial machine vision lenses in various industries, and many others. Manufacturers are increasingly implementing machine vision systems to ensure precise and consistent inspection processes in response to increased customer expectations and the requirement to maintain high product quality. Machine vision helps identify defects and deviations in real-time, allowing for immediate corrective actions.
There are certain challenges that the industrial machine vision lenses market faces. While machine vision lenses are quite useful in many industrial applications, they may not be appropriate in all situations. Some applications may necessitate specialized lenses or alternate inspection methods due to exceptionally difficult lighting conditions, highly reflective surfaces, or complex geometries. It is critical to examine the application's individual requirements and select the proper lens accordingly.
The proliferation of smart devices and the Internet of Things (IoT) is a significant driver of growth in the industrial machine vision lenses market. As the number of smart devices and IoT-connected devices continues to increase, the demand for machine vision technology, including machine vision lenses, also grows... Machine vision systems equipped with high-quality lenses play a crucial role in automated inspection, ensuring that products meet the required standards and specifications. Industrial machine vision lenses enable precise and accurate detection of defects, measurements, and quality assessment, thereby contributing to enhanced quality control in smart device manufacturing. These factors are anticipated to boost market growth in the upcoming years.
The global industrial machine vision lenses market share is segmented based on type, camera, application, end-user, and region. By type, it is classified into C-Mount, Cs-Mount, F-Mount, S-Mount and others. By camera, it is classified into line scan camera and area scan camera. By application it is classified into measurement and identification. By end-user, it is classified into automotive, electronics & semiconductor, pharmaceutical & chemical, logistics, agriculture, food industries and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the industrial machine vision lenses market report include Kowa Lenses, Myutron Inc, Computar (CBC Group), Nikon, Ricoh, Fujifilm, Schneider, Moritex, Kenko Tokina Co, and VST.
The report offers a comprehensive analysis of the global industrial machine vision lenses market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.
Impact of Covid-19 on the Global Industry Machine Vision Lenses Industry
The COVID-19 pandemic has had a significant impact on various industries worldwide, including the global industrial machine vision lenses industry. Machine vision lenses are crucial components used in automated inspection systems, robotics, and other industrial applications.Many industries faced a halt or temporary shutdown of operations because of COVID-19 restrictions. Demand for machine vision systems fell in industries such as automotive, aerospace, and electronics. This decrease in industrial activity had a direct influence on the demand for industrial machine vision lenses.
Manufacturers concentrated on partnerships and businesses to make up for the losses from the COVID-19 pandemic. Companies in the industry need to develop fresh approaches to accelerate the growth of the machine vision market. In June 2020, OMRON Corporation announced the launch of new product namely FH Series Vision System. This machine vision system is designed with the industry's first defect detection AI technology that identifies defects without learning samples. This has helped the business to enhance their sales in the Covid period.
Key Findings of the Study
- Based on type, the C-mount sub-segment emerged as the global leader in 2022, and CS-mount sub-segment is anticipated to be the fastest growing sub-segment during the forecast period.
- Based on camera, the area scan camera sub-segment emerged as the global leader in 2022 and line scan camera sub-segment is predicted to show the fastest growth in the upcoming years.
- Based on application, the area scan camera sub-segment emerged as the global leader in 2022 and line scan camera sub-segment is predicted to show the fastest growth in the coming years.
- Based on end user, the electronics & semiconductor sub-segment emerged as the global leader in 2022 and is predicted to show the fastest growth in the upcoming years.
- Based on region, the Asia-Pacific market registered the highest market share in 2022 and is projected to maintain the position during the forecast period.
Companies Mentioned
- Kowa Lenses
- Myutron Inc
- Computar (CBC Group)
- Nikon
- Ricoh
- Fujifilm
- Schneider
- Moritex
- Kenko Tokina Co
- VST
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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