According to Cognitive Market Research, the global Machine Vision Technology market size will be USD 13251.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 13.00% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 5300.60 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 3975.45 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 3047.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 662.58 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 265.03 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.7% from 2024 to 2031.
The Pharmaceuticals & Chemicals category is the fastest growing segment of the Machine Vision Technology industry
