Chicago, May 17, 2023 (GLOBE NEWSWIRE) -- According to a research report Japan Machine Vision Market by Component (Hardware, Software), Deployment (General, Robotic Cells), Product (PC-based Machine Vision System, Smart Camera-based Machine Vision System), End-user Industry, Region - Global Forecast to 2027" , published by MarketsandMarkets, Japan Machine Vision Industry to Grow at a CAGR 7.8% from 2022 to 2027.
Japan Is Likely to Dominate the Machine Vision Market in Asia Pacific
Machine vision is a solution that involves using computers and algorithms to interpret, analyses, and comprehend visual information from our surrounding. A machine vision system consists of multiple cameras that capture, interpret, and send signals individually to a control system. Deep learning software, liquid lenses, vision processing units, 360-degree cameras, 3d machine vision, hyperspectral imaging, and hybrid image sensors are some recent technological advancements that have expanded the potential for using machine vision systems in industrial applications.
The machine vision system is mainly used for quality assurance & inspection, positioning & guidance, measurement, identification, and predictive maintenance. The machine vision market was valued at 11.1 billion in 2021 and is projected to reach USD 17.2 billion by 2027. The market is expected to grow at a CAGR of 7.4% between 2022-2027. Japan is the second largest country in the Asia Pacific region in the machine vision market, which is expected to account for USD 2,065 million in 2027 and will grow with a CAGR of 8.3% during the forecast period 2022–2027.
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The history of machine vision began in the mid-1960s with the efforts of Japanese industry researchers. During the 1970s and 2000s, real-time image processing techniques enabled the development of a number of notable vision-based systems used for factories, offices, and even social automation. Japan is a technological powerhouse where manufacturing industries, particularly automobile and electronics, dominate technological advancement and production. The major players in the machine vision industry in Japan include Keyence, Omron Corporation, Sony Corporation, and BUSHNELL.
Japan is actively working on digital manufacturing using technologies such as the Internet of Things (IoT), artificial intelligence (AI), Big data, and Robotics. Further, Japan is on the way to Society 5.0, which looks at digitization from a societal viewpoint aiming at the super smart society.
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Furthermore, Japan is a global leader in the tech and startup sector. Key factors contributing to the growth of the machine vision market are the increase in the manufacturing of hybrid and electric cars and the rise in demand for vision-guided robotic systems and application-specific machine vision systems. The machine vision market is further driven by the rising adoption of 3D machine vision systems by the manufacturing industries such as automotive and consumer electronics.
Moreover, Japan is one of the leaders in industrial machine vision technology. The use of cameras and image processing software to inspect and analyze items and processes in industrial settings is called industrial machine vision. It entitles capturing and analyzing photographs or videos of an object or process, extracting useful information from the images using algorithms and machine learning approaches, and making evolutions, based on results. Japan Industrial Imaging Association (JIIA) is a Japan-based organization that helps foster technological innovations in industrial imaging, thus contributing to the development of industrial imaging worldwide.
Top Key Market Players in Machine Vision Market companies
- Cognex Corporation (US),
- Keyence (Japan),
- Teledyne Technologies (US),
- TKH GROUP (Germany),
- Basler (Germany),
- OMRON Corporation(Japan),
- NATIONAL INSTRUMENTS CORP (US),
- Intel Corporation(US).
