Machine vision is a combination of mechanical, optical, electronic, and software systems used to examine objects, surfaces, materials, and manufacturing processes to detect defects; it also helps to improve quality and operational efficiency in manufacturing industries such as automotive, electronics and semiconductor, consumer electronics, glass, metals, wood and paper, and pharmaceutical as well as nonmanufacturing industries such as healthcare, security and surveillance, postal and logistics, military and defense, intelligent transportation system, agriculture, consumer electronics devices, and connected cars. The technology is used in a variety of industries to automate the production process, increase production speed, and improve product quality. Machine vision technology mainly replaces manual inspections and measurements with the help of digital cameras and advanced image processing techniques. ---------------------------- 1. Micromarkets are defined as the further segments and subsegments of the machine vision market included in the report. 2. Core competencies of companies are defined in terms of their key developments, SWOT analysis, and key strategies adopted by them to sustain their position in the market.
Visionary leaders are the leading market players in terms of new developments such as product launches, innovative technologies, and the adoption of growth strategies. These players have a broad product offering that caters to most of the regions globally. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and their well-established brand equity.
Dynamic Differentiators are established players with very strong business strategies. However, they have a weaker product portfolio compared to the visionary leaders. They generally focus only on a specific type of technology related to the product.
Innovators in the competitive leadership mapping are vendors that have demonstrated substantial product innovations as compared to their competitors. The companies have focused on product portfolios. However, they do not have very strong growth strategies for their overall business, when compared with the visionary leaders.
Emerging companies have niche product and service offerings. Their business strategies are not as strong as that of the established vendors. The emerging vendors include the new entrants in the market, emerging in terms of product portfolio and geographic reach, and require time to gain significant traction in the market.