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Machine Vision (MV) Market to Grow by USD 8.94 Billion from 2024-2028, Driven by Cost Savings in Operations, AI Impact on Market Trends Highlighted – Technavio

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NEW YORK, Oct. 8, 2024 /PRNewswire/ — Report on how AI is redefining market landscape- The global machine vision (mv) market  size is estimated to grow by USD 8.94 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 10.87%  during the forecast period.  Significant cost savings in operation due to process control is driving market growth, with a trend towards increasing incorporation of thermal inspection in machine vision systems. However, intense competition among machine vision vendors  poses a challenge. Key market players include Adimec Advanced Image Systems bv, ADLINK Technology Inc., Advantech Co. Ltd., AFRY AB, Basler AG, Baumer Holding AG, Cognex Corp., Datalogic SpA, DATASENSOR India PVT. LTD., Industrial Vision Systems Ltd., Intel Corp., iX Cameras Ltd, JAI AS, Keyence Corp., OMRON Corp., Optronis GmbH, Sony Group Corp., Teledyne Technologies Inc., TKH Group NV, and Toshiba Corp..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

End-user (Industrial and Non-industrial), Type (Vision system, Cameras, and Others), and Geography (APAC, North America, Europe, Middle East and Africa, and South America)

Region Covered

APAC, North America, Europe, Middle East and Africa, and South America

Key companies profiled

Adimec Advanced Image Systems bv, ADLINK Technology Inc., Advantech Co. Ltd., AFRY AB, Basler AG, Baumer Holding AG, Cognex Corp., Datalogic SpA, DATASENSOR India PVT. LTD., Industrial Vision Systems Ltd., Intel Corp., iX Cameras Ltd, JAI AS, Keyence Corp., OMRON Corp., Optronis GmbH, Sony Group Corp., Teledyne Technologies Inc., TKH Group NV, and Toshiba Corp.

Key Market Trends Fueling Growth

Machine vision market has witnessed significant advancements in 2D and 3D imaging technologies. Thermal inspection, a type of infrared imaging, has experienced notable improvements. Thermal inspection provides valuable data through infrared imaging science. With expanding product portfolios, machine vision vendors introduce thermal imaging, despite its high cost and weight. Thermal inspections offer Ethernet and camera links, aligning with machine vision conventions. This integration of thermal inspection into machine vision systems is projected to positively impact the global market, as it enhances capabilities and broadens applications. 

The Machine Vision (MV) market is thriving with trends like object detection, pattern recognition, and precision taking center stage. Businesses are leveraging MV for product inspection and quality control, ensuring product consistency, integrity, and safety. Operational efficiency is a key focus, with MV solutions streamlining production processes and enhancing productivity. Real-time decision-making is made possible through MV systems, enabling operational practices to adapt quickly. MV is not just for manufacturing but also finds applications in agriculture and vehicle assembly. Advanced technologies like AI, robotics, and compact solutions are driving innovation. The market caters to various industries, offering cost-effective, automated inspection systems and software components. Tablets and smart camera-based systems make MV accessible to all. Despite complexities, MV solutions deliver on safety, asset utilization, and process control, making them an essential part of modern production lines. MV’s role extends beyond inspection, with applications in robot guidance and autonomous vehicles. It’s about ensuring assembly accuracy, maintaining safety standards, and enhancing product quality. The market offers various software and hardware solutions, catering to diverse industries and application sites. Skilled professionals are in demand to install, maintain, and optimize these systems. From cracks in welds to missing parts, MV solutions provide the accuracy and reliability businesses need. 

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Market Challenges

The machine vision market experiences intense competition due to an influx of vendors offering similar equipment and systems. Price wars have ensued, narrowing profit margins. End-users’ expectations are escalating, fueled by rapid technological advancements from standard cameras to smart cameras. Additionally, the availability of affordable equipment increases competition, potentially challenging the market’s growth during the forecast period. Vendors must differentiate themselves through innovation and value-added services to maintain a competitive edge.The Machine Vision (MV) market is experiencing significant growth due to increasing automation and data-driven decision-making in various industries. Key application sites include Manufacturing factories, Food & Packaging industry, and Healthcare. Challenges such as defect detection and identification in Agriculture and Autonomous vehicles are being addressed through advanced AI and analysis techniques. MV systems enable automated inspection systems, improving assembly accuracy, asset utilization, and customer satisfaction. Cost-effective, compact solutions are essential for general deployment. Complexities like cracks in welds and labeling precision are tackled with cutting-edge technologies like deep learning capabilities. Components such as cameras, frame grabbers, and lighting play a crucial role. Industry regulations and support are essential for widespread adoption. The MV ecosystem includes hardware, integration of components, and IoT, aiming for efficiency and labor efficiency. The market continues to grow, driven by the need for higher quality, less downtime, and improved efficiency.

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Segment Overview 

This machine vision (mv) market report extensively covers market segmentation by

End-user 1.1 Industrial1.2 Non-industrialType 2.1 Vision system2.2 Cameras2.3 OthersGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Industrial-  The Machine Vision (MV) market refers to the use of computers to analyze and interpret visual information from the physical world. This technology is essential in various industries, including manufacturing, healthcare, and automotive, for tasks like quality control, defect detection, and assembly. Companies invest in MV systems to increase efficiency, reduce errors, and improve product quality. The market is expected to grow due to advancements in AI and machine learning, which enhance the capabilities of MV systems.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The Machine Vision (Mv) market is a dynamic and growing industry that leverages AI, analysis techniques, and automated inspection systems to enhance efficiency and accuracy in various application sites, including Agriculture and the Food & Packaging industry. Mv systems utilize cameras, frame grabbers, and deep learning capabilities to identify and analyze defects, ensuring asset utilization and reducing downtime. Compact solutions are increasingly popular for their cost-effective and autonomous capabilities, addressing complexities in automation and labor efficiency. IoT integration further enhances the potential of Mv systems, enabling real-time data analysis and improving overall performance.

Market Research Overview

The Machine Vision (Mv) market encompasses cutting-edge technologies and applications in various industries, including Agriculture, Food & Packaging, Manufacturing, Healthcare, and Autonomous Vehicles. Mv systems utilize AI, analysis techniques, and image processing for defect detection, identification, and analysis. These systems offer increased efficiency, asset utilization, and operational practices through automated inspection systems, robot guidance, and real-time decision-making. Mv components include cameras, frame grabbers, optics, lighting, and software, which must be integrated for optimal performance. Complexities such as industry regulations, safety standards, and data-driven decision-making require skilled professionals and cost-effective, compact solutions. Mv applications include object detection, pattern recognition, and labeling accuracy, contributing to product consistency, product quality, and customer satisfaction. Mv systems are essential for industries with high production lines and processes, such as manufacturing factories, where downtime and missing parts can significantly impact operational efficiency and product integrity. The Mv market continues to evolve with the integration of IoT, deep learning capabilities, and industry support, offering a machine vision ecosystem for various application sites.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userIndustrialNon-industrialTypeVision SystemCamerasOthersGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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In HelloNation, Jewelry Expert Mike Littlejohn Explains What to Expect From Jewelry Repair and Ring Resizing

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The article outlines how repair services and resizing work and what factors affect timing, cost, and results.

AUBURN, Ind., Oct. 30, 2026 /PRNewswire/ — Can damaged or ill-fitting jewelry be restored instead of replaced? That question is answered in a HelloNation article, featuring insights from Jewelry Expert Mike Littlejohn of Carbaugh Jewelers.

The HelloNation article explains that jewelry repair and ring resizing are practical ways to restore both the function and appearance of worn pieces. It notes that everyday issues such as broken chains, worn prongs, and loose clasps are common and can often be fixed successfully when addressed early.

According to the article, jewelry repair services cover a wide range of problems caused by regular wear. Fixing these issues promptly can help prevent more serious damage and extend the life of the piece. The article emphasizes that early attention often leads to better outcomes.

Ring resizing is another key service discussed. The ring resizing process involves adjusting the band so that the ring fits securely and comfortably again. Changes in finger size over time or due to temperature can make resizing necessary. The article explains that the goal is to maintain the original look while improving wearability.

Not all rings can be resized in the same way. The article describes how simple bands are easier to adjust, while more detailed designs may require careful handling. Rings with stones set along the band can limit how much resizing is possible. The article notes that understanding these factors helps set clear expectations before starting any work.

Metal type also plays an important role in both jewelry repair and resizing. The article explains that gold is commonly used and responds well to standard techniques. Platinum is denser and more durable, which can make it harder to adjust but also longer lasting. These differences can affect the time and complexity of the repair.

Stone settings require special attention during any jewelry repair services. The article notes that loose stones can often be secured, and missing stones may be replaced if a close match is available. Careful handling helps maintain both the safety and appearance of the piece.

Timing varies depending on the type of repair. The article explains that simple fixes may be completed quickly, while more detailed work takes additional time. The ring resizing process may also take longer if a significant size change is needed. Understanding the timeline helps manage expectations.

Cost is another factor addressed in the article. Jewelry repair cost depends on the level of work required, the condition of the item, and the materials involved. Basic repairs are usually more affordable, while complex work can increase the overall cost. Clear estimates help avoid surprises.

Preventive care is also important. The article encourages regular checks for loose parts or signs of wear so that issues can be handled early. This reduces the need for more extensive repairs and helps maintain the condition of the jewelry over time.

In some cases, repair may not be the best option. The article explains that severe damage or delicate designs can limit what can be safely restored. Alternative solutions, such as redesigning the piece, may be considered when repair is not practical. The article highlights the importance of understanding these limits.

In the end, the article emphasizes that jewelry repair and ring resizing remain valuable options for maintaining meaningful items. By understanding jewelry repair services, the ring resizing process, jewelry repair cost, and how metal type affects the work, individuals can make informed decisions and extend the life of their jewelry.

Can Jewelry Be Repaired or Resized, and What Should You Expect? Features insights from Mike Littlejohn, Jewelry Expert of Auburn, Indiana, in HelloNation.

About HelloNation

HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused digital publications and innovative “edvertising” approach, HelloNation delivers expert-driven, good-news content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities.

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INSEAD establishes Thrive Lab with US$3 million funding from Google.org and Google DeepMind

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Launched at INSEAD AI Forum Asia, the new Lab is set to advance global academic research on the impact of AI on human connectivity, meaning and wellbeing in work and life

FONTAINEBLEAU, France and SINGAPORE and SAN FRANCISCO, Oct. 30, 2026 /PRNewswire/ — INSEAD, The Business School for the World, today announced it has received US$3 million in funding from Google.org and Google DeepMind. The funding will support the Research Lab for Human and Organisational Thriving (INSEAD Thrive Lab), aimed at accelerating global research on how people and organisations can flourish in an era of continuous technological transformation.

Artificial intelligence is emerging as the most consequential technology that profoundly shapes how people learn, work, live and interact with one another. While it presents near limitless possibilities, we need to give careful attention to the potential risks. How can we strengthen our human, social and psychological capital amid relentless technological change? And how must our ecosystems of learning – spanning educational, community, and professional spheres – evolve to build this capital? These are the central questions that the INSEAD Thrive Lab will focus on.

“We want to understand how people can expand their capabilities, build economically viable and psychologically meaningful working lives, and cultivate strong relationships with others in the age of artificial intelligence. Through rigorous, multidisciplinary research, INSEAD Thrive Lab aims to have real-world impact and generate actionable insights into what enables people and organisations not just to adapt to a rapidly changing world, but to thrive in it,” said Winnie Jiang, Academic Director of INSEAD Thrive Lab and Associate Professor of Organisational Behaviour at INSEAD.

Housed under INSEAD’s Human and Machine Intelligence Institute (HUMII) – a cross-disciplinary research institute that counts the 2025 Nobel Laureate in Economics Philippe Aghion and 2025 Oskar Morgenstern Medallist Phanish Puranam as part of its core academic team – INSEAD Thrive Lab will focus on three interconnected domains: Learning, Working and Relating.

“The success of artificial intelligence won’t be measured solely by efficiency or productivity gains, but by whether it empowers people to live more fulfilling lives. Navigating this rapid transformation requires thoughtful research and an unwavering commitment to human well-being. We are proud to support the launch of INSEAD Thrive Lab, which will explore some of the most pressing questions shaping the future of work and help people adapt, stay resilient, and thrive alongside AI,” said Sepi Hejazi Moghadam, Head of Foundations of Science, Google.org.

“We are incredibly grateful for the generous fund from Google.org and Google DeepMind. At HUMII, our goal is to conduct research on all branches of artificial intelligence for the ultimate purpose of expanding human capacities and human agency. The Lab’s work will be core to HUMII and to our society,” says Lily Fang, Academic Director of HUMII and Dean of Research and Innovation at INSEAD.

Click here to view video about the INSEAD Thrive Lab

INSEAD Thrive Lab will build on the school’s mission to develop responsible leaders who transform organisations and society, serving as a global hub for research, dialogue and innovation around the human dimension of progress. To this end, it will train emerging scholars working on the theme of human meaning and human flourishing through its PhD research award and postdoctoral fellowship and bring the wider research community together at its annual global conference. Research-to-practice partnerships with organisations, schools and governments, as well as a series of workshops, talks and dialogues are designed to translate insights into practice, and ultimately, help people flourish.

The announcement was made during the INSEAD AI Forum Asia, held at the INSEAD Asia Campus in Singapore. The event serves as a platform for dialogue between researchers, business leaders, policymakers and the public with the goal of advancing the beneficial and responsible use of artificial intelligence to benefit business and society. Part of the global INSEAD AI Forum series, the Asia edition comes after Europe and America, with the next edition taking place in UAE from 27 to 28 January 2027.

To learn more about INSEAD Thrive Lab, participate in the programme, or support the

school’s ongoing mission, visit INSEAD Thrive Lab or follow #INSEADAI.

Media contact: news@insead.edu

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About INSEAD, The Business School for the World 

As one of the world’s leading and largest graduate business schools, INSEAD brings together people, cultures and ideas to develop responsible leaders who transform business and society. Our research, teaching and partnerships reflect this global perspective and cultural diversity. Our global perspective and unparalleled cultural diversity are reflected in our research, teaching, partnerships; as well as in our alumni network of over 73,000 members representing 176 nationalities across 183 countries.

With locations in Europe (France), Asia (Singapore), the Middle East (Abu Dhabi), and North America (San Francisco), INSEAD’s business education and research spans four regions. Our 162 renowned Faculty members from 40 countries inspire more than 1,700 degree participants annually in our Master in Management, MBA, Global Executive MBA, Specialised Master’s degrees (Executive Master in Finance and Executive Master in Change) and PhD programmes. In addition, more than 21,000 executives participate in INSEAD Executive Education programmes each year.

INSEAD continues to conduct cutting-edge research and innovate across all our programmes. We provide business leaders with the knowledge and awareness to operate anywhere. Our core values drive academic excellence and serve the global community as The Business School for the World.

For more information, visit www.insead.edu. 

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nbkc bank Announces Agreement to Assume Consumer BaaS Programs of LSBX, a Division of Lincoln Savings Bank

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Transaction to Boost nbkc’s Banking as a Service Business and Deposit Base

KANSAS CITY, Mo., Oct. 30, 2026 /PRNewswire/ — nbkc bank today announced that it filed an application with the FDIC to assume the consumer-focused Banking as a Service (BaaS) portfolio maintained by LSBX, Lincoln Savings Bank’s BaaS division, which would increase the scale of its BaaS business and overall deposit base.

The transaction is anticipated to close in early 2027 subject to regulatory approval. Terms were not disclosed. It follows a September announcement that Lincoln Savings Bank parent Lincoln Bancorp, Reinbeck, Iowa, will merge with and into Equity Bancshares, Inc., headquartered in Wichita, Kan.

“This transaction is a natural fit for nbkc and is a great opportunity to continue growing our BaaS business,” said Michael Bartkoski, president and CEO of nbkc bank. “It allows us to further strengthen our deposit base and build upon an established program with significant momentum.” Bartkoski said he expects the LSBX offering to be merged into nbkc’s BaaS business and to go to market under the nbkc brand.

“We believe nbkc is an excellent successor and home for our LSBX customers,” said Sean Willett, CEO of Lincoln Savings Bank. “nbkc has built an exceptional Banking as a Service capability, and they are well known for effectively combining technology and a human touch. We believe in that approach and are confident it will serve our customers very well.”

Through BaaS offerings, banks provide nonbank fintech companies, which do not have banking charters, the opportunity to provide banking products such as deposits, checking, debit cards and personal loans to their customers. Fintech companies’ clients interact with the fintech company’s app on the front end, and their accounts are opened with the partner bank, typically on a private label basis. Fintech companies gain the ability to offer banking products, and banks offering BaaS gain access to those companies’ retail customers.

nbkc bank has developed meaningful scale in its BaaS business, with approximately 13 BaaS relationships with fintech companies, approximately 3.6 million BaaS customers and 30 dedicated BaaS employees.

“Our investment in our BaaS offering enables us to take on a transaction of this scale with confidence in our ability to provide a seamless, excellent customer experience,” Bartkoski said.

About nbkc bank

Having celebrated 25 years in 2024, nbkc bank is a Kansas City-based community bank with a nationwide online presence. Known for pairing intuitive technology with personal support, nbkc delivers digital solutions for mortgage, consumer, and business banking, plus Banking as a Service (BaaS) for companies nationwide. The bank also founded Fountain City Fintech®, an accelerator for growing fintech startups. nbkc remains committed to leading the industry toward simpler, more transparent banking. Member FDIC. Equal Housing Lender.

Media Contact
Melissa.Beltrame@nbkc.com

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