Industrial Machine Vision Lenses Market Expected to Reach $19.9 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Industrial Machine Vision Lenses Market," The industrial machine vision lenses market size 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 camera lens 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 lenses market growth. 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 zoom lens 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 analysis 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.