According to the research report titled ‘Global Machine Vision Camera Market Size study with COVID-19 Impact, by Component (Hardware, Software), by Application (Quality Assurance & Inspection, Positioning & Guidance, Measurement, Identification, Predictive Maintenance), by Industry (Automotive, Consumer Electronics, Electronics & Semiconductor, Food & Packaging, Others) and Regional Forecasts 2020-2026‘, available with Market Study Report, global machine vision camera market was valued at USD 9.58 billion in 2018 and is expected to grow with a CAGR of 7.3% during 2020-2026.
 

Technological advancements, high demand for precise & accurate outcomes & practical images, and emergence of artificial intelligence are the major factors expected to drive global machine vision camera market during the forecast period. Moreover, surging digitization and developments in robotics which require thorough research and analysis of various parts will boost the demand for machine vision cameras.
 

For those uninitiated, machine vision camera is used for thorough investigation and analysis across sectors like healthcare, defense, robotics, and others. It has major application in border securities to find the target during night or in low light conditions, and defense surveillance. While speaking of healthcare applications, machine vision camera is utilized in diagnosis of skin cancer and other medical conditions, which is propelling the market growth.
 

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Rising prevalence of COVID-19 has caused lockdowns, compelling people to stay at home, hence surging the use of self-automated cars, delivery, and such technology. The manufacturing of these machines and robots is fostering the demand for machine vision camera. Moreover, the product usage in research of various new viruses and bacteria to avert another health crisis is contributing to global machine vision camera industry outlook.
 

However, economic instability caused by pandemic has plummeted the product sales, which along with strict regional laws and standards will hamper global machine vision camera market expansion.
 

Based on industry vertical, worldwide machine vision camera market is segmented into automotive, food & packaging, consumer electronics, electronics & semiconductor, and others. With regards to application spectrum, the industry is bifurcated into predictive maintenance, positioning & guidance, quality assurance & inspection, identification, and measurement. Speaking of component type, the industry is bifurcated into hardware and software.
 

As per regional analysis, Asia Pacific machine vision camera market is anticipated to witness substantial growth over 2020-2026, mainly due to availability of raw materials & resources and adoption of technologies along with presence of leading companies in the region. Further, preference for more practical results and urge for 3D pictures is also likely to contribute to the industry growth in APAC.
 

Major players operating in global machine vision camera market sphere include Keyence Corporation, IDS Imaging Development Systems GmbH, FLIR Systems Inc., Sick AG, Cognex Corporation, Omron Corporation, Teledyne Technologies Inc., Adimec Advanced Image Systems bv, Baumer Group, and Basler AG.