Multi Camera Vision Inspection Systems Market Expected to Reach $9.95 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Multi Camera Vision Inspection Systems Market," The multi camera vision inspection systems market was valued at $3.2 billion in 2021, and is estimated to reach $10 billion by 2031, growing at CAGR of 12% from 2022 to 2031.

Multi-camera vision inspection solution is an enhanced inspection solution equipped with various computer software and multiple sensors to inspect the shape and correct position of equipment. Further, multi-camera solutions in vision inspection systems detect objects, capture pertinent images, and transmit the entire data set into a computerized application. After analyzing the data, the computer makes appropriate decisions to host machinery, such as robots, which execute them. These multi-camera machine vision systems are extremely powerful, cost-effective, and provide excellent performance.

Growth of the global multi camera vision inspection systems market size is majorly driven by a rise in demand for vision-guided robotics systems in highly regulated sectors paired with a rise in demand for industrial applications. Further, the rise in advancements in industry 4.0 is expanding opportunities across the manufacturing sector and is anticipated to drive the growth of multi camera vision inspection systems market. However, the high cost of maintenance and lack of skilled professionals acts as prime restraint of the global market. On the contrary, the rise in the need for quality inspection and automation is anticipated to provide lucrative opportunities for the multi camera vision inspection systems industry during the forecast period.

According to the multi camera vision inspection systems market analysis, the semi-automatic segment was the highest contributor to the market in 2021. The manufacturing and automotive segments collectively accounted for around 54.8% multi camera vision inspection systems market share in 2021. The surge in the adoption of industry 4.0 initiatives has led to the growth of the manufacturing and automotive segments; thereby, enhancing the multi camera vision inspection systems market growth.

The outbreak of COVID-19 has significantly impacted the growth of the multi camera vision inspection systems market, owing to a significant impact on prime market players. Conversely, a rise in demand for Industry 4.0 solutions in the manufacturing, automotive, and healthcare sectors is anticipated to drive the market post-pandemic. However, the lack of availability of a professional workforce due to partial and complete lockdowns implemented by governments restrained the growth of the multi camera vision inspection systems market. On the contrary, emerging economies significantly witness the need for smart infrastructure solutions in industrial sectors that is expected to boost the multi camera vision inspection systems market.

Region-wise, Asia-Pacific holds a significant share in the global multi camera vision inspection systems market, owing to the presence of prime players in this region. The adoption of next-generation vision inspection system solutions across the industrial and manufacturing sectors is expected to propel the growth of the multi camera vision inspection system industry in this region. Moreover, the surge in demand for advanced manufacturing solutions in Asia-Pacific countries such as India, South Korea, and Japan is anticipated to drive the multi camera vision inspection systems market trends in this region.

The key players profiled in the report include Teledyne Imaging, Cognex Corporation, Omron Corporation, Basler AG, Nextsense GmbH, Keyence Corporation, NOVASIS, Industrial Vision Systems, Optex FA, and Estes Engineering. Market players have adopted various strategies, such as product launch, collaboration& partnership, joint venture, and acquisition, to expand their foothold in the multi camera vision inspection systems market.