Mexico Machine Vision System Market Report and Forecast 2024-2032

Mexico Machine Vision System Market Outlook

The Mexico machine vision system market size is expected to grow at a CAGR of 13.50% between 2024 and 2032, driven by the growing incorporation of automation in industrial and commercial applications and increasing demand for smart cameras.

Key Trends in the Market

Machine vision systems use components such as digital signal processing, video cameras, and analogue-to-digital conversion to enable a computer to monitor, examine, and critique a task being done. They feature digital sensors that are located within industrial cameras that support automatic acquisition and processing of images to gather information needed for assessing a particular activity, supporting further decision-making.

• The use of machine vision systems is being accelerated by the expanding use of automation and robotics across a variety of industries, the rapid development of industrial technology, and the need for increased productivity. These systems have a wide range of uses in numerous industry verticals to meet their inspection needs.

• The increasing availability of various types of machine vision systems, like PC based and smart camera based are accelerating the Mexico machine vision system market growth. With various types available across different price points, more end users can find suitable models that suit their budget and needs, further providing impetus to the market.

• Government requirements regarding production standards, quality, and safety are increasing the importance of careful monitoring throughout the production process. Machine vision systems aid in adhering to the established requirements, providing greater visibility and control over production systems, reducing the risk of poor quality unmet standards, while maintaining cost efficiency.

• The increasing demand for AI along with the rising adoption of industry 4.0 are creating lucrative market opportunities for Mexico machine vision system market. As more end users turn to AI and advanced technologies for enhancing both productivity and quality in the production process, there will likely be a greater need to monitor the technologies integrated.

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Market Analysis

Based on offering, the market is segmented into hardware, software, and services. Hardware is sub-divided by type into vision systems, cameras, optics and illumination systems, and frame grabber, among others. The Mexico machine vision system market on the basis of type is divided into 1-D vision system, 2-D vision system, and 3-D vision system. On the basis of system, the market is bifurcated into PC based and smart camera based.

By application, the market is categorised into quality assurance and inspection, positioning and guidance, measurement, and identification. Based on end use, the market is divided into food and beverage, healthcare and pharmaceutical, logistic and retail, automotive, and electronics and semiconductors, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model, along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Mexico machine vision system market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• Cognex Corporation

• Teledyne DALSA

• Opto Engineering S.p.A.

• KEYENCE CORPORATION

• EPIX, Inc.

• National Instruments Corp.

• SICK AG

• Omron Corporation

• Basler AG

• Others

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Market Share by System

As per Mexico machine vision system market research, the smart camera based machine vision systems are expected to account for a sizable share of the market in the coming years, due to the increasing use of cameras for 3D imaging. These cameras can be positioned over assembly lines to view and evaluate the products and collect data, depending on the needs. Also, without the intervention of a human, cameras are capable of reading labels and guiding objects, aiding in accurate and efficient inspection of labels and tags with less human interaction. Furthermore, smart cameras are more compact and lower in cost than PC based systems. These features of smart cameras are influencing how the technology is being adopted across numerous industrial sectors, supporting the Mexico machine vision system market expansion.

Market Share by End Use

The automotive end uses account for a significant share of the machine vision systems market in Mexico due to the highly developed automotive parts production industry of the country, with substantial exports to numerous nations. The use of machine vision for inspection applications, including as presence-absence testing, error proofing, assembly verification, and final inspection, is widespread in the automotive industry, thereby increasing the Mexico machine vision system market value. The development of the machine vision system market in Mexico is being accompanied by investments made by the major automakers to boost the manufacturing of automobiles and automotive parts with improved speed, lower costs, and faster delivery timelines.

Over the forecast period, the food and beverage industry is anticipated to increase at a rapid rate in the Mexico machine vision system market as operations involving production and packaging in the food and beverage sector make extensive use of machine vision systems. This can be attributed to the increasing safety precautions in place regarding food and beverage production and packaging.

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Competitive Landscape

Cognex Corporation, headquartered in Massachusetts in the United States, creates, develops, produces, and sells a variety of image-based devices which employ artificial intelligence (AI) methods to give them the capacity to make judgements based on what they observe. Founded in 1981, Cognex is a manufacturer of machine vision systems, barcode readers, and machine vision sensors that are used in factories and distribution centres all over the world to reduce production and shipping errors.

Teledyne DALSA, established in 1980 and headquartered in Ontario, Canada, is a world leader in sensing, imaging, and specialised semiconductor fabrication. In addition, the company offers cutting-edge 3D survey and geospatial information solutions through its subsidiaries Teledyne Optech and Teledyne Caris. The company is divided into three main business segments: Life Sciences Imaging/Medical Devices, Digital Imaging, and Semiconductors.

Opto Engineering S.p.A., founded in 2002 creates, produces, and sells image components. With its headquarters in Mantova in Italy, Opto Engineering is a leading provider of cutting-edge LED illuminators, imaging software, cameras, and accessories. It is also the inventor of numerous other optical solutions that assist customers in solving machine vision applications.

Other market players include KEYENCE CORPORATION, EPIX, Inc., National Instruments Corp., SICK AG, Omron Corporation, and Basler AG, among others.

Key Highlights of the Report