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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.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

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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SOURCE Technavio

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ADX welcomes Morgan Stanley as the first international investment bank Remote Trading Member, expanding global access to Abu Dhabi’s capital markets

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ABU DHABI, UAE, May 5, 2026 /PRNewswire/ — The Abu Dhabi Securities Exchange (ADX) Group today announced that Morgan Stanley, a leading investment bank and financial services company, has joined the ADX as its first international investment bank Remote Trading Member — enabling Morgan Stanley’s clients to access the ADX directly.

This milestone strengthens ADX’s global connectivity and supports growing international institutional demand for exposure to UAE markets. It also reinforces its position as one of the world’s fastest-growing exchanges by market capitalization, while highlighting the market’s continued progress in depth, liquidity, and inclusion in major global indices.

Remote membership enables Morgan Stanley to provide its clients with direct market access to the ADX, with trading conducted via the firm’s global trading platform. The ADX continues to play a pivotal role in advancing Abu Dhabi’s long-term economic ambitions, as a mechanism for a diversified, innovation-led, knowledge-based economy.

Morgan Stanley’s direct trading access to ADX reflects the strength of Abu Dhabi’s investment proposition and the continued institutionalization of UAE capital markets. Morgan Stanley’s membership will enhance execution quality, optimize order routing, and provide greater control across the end-to-end trade lifecycle, delivering an advanced trading experience for global investors.

The structure follows a proven international access model used by Morgan Stanley and is designed to meet growing client demand for efficient, transparent, and seamless access to ADX-listed opportunities.

Abdulla Salem Alnuaimi, Group Chief Executive Officer of Abu Dhabi Securities Exchange (ADX) Group, said: “This marks a significant step in advancing our ambition to be a leading financial marketplace that drives opportunity and sustainable economic growth. This momentum is reflected in the strong foreign investor participation, with trading value exceeding 85 billion dirhams in the first quarter of 2026 up by 22% year on year. This performance underscores the growing depth and global relevance of our market, while reinforcing our commitment to expanding international access, strengthening cross-border connectivity, and building a world-class market infrastructure that attracts global capital, supports a diverse range of issuers and contributes to Abu Dhabi’s long-term economic prosperity.”

Patrick Delivanis, Regional Co-Head of MENA at Morgan Stanley, said: “Becoming a Remote Trading Member of ADX reflects our focus on providing clients with efficient, seamless access to Abu Dhabi’s capital markets through our market–leading trading platform. We see continued momentum in the institutionalization and international participation of UAE markets, and we’re pleased to support that evolution by enabling international investors to access opportunities in MENA with direct connectivity to local markets, alongside greater transparency and control across the trading lifecycle.”

Morgan Stanley’s participation aligns with ADX’s strategy to strengthen international connectivity, with remote memberships selectively offered to global firms to attract high-quality cross-border liquidity. The announcement builds on the ADX’s expansion momentum: in 2025, foreign investment rose by nearly 14% and institutional trading increased by 10% year on year. Subject to final operational readiness, Morgan Stanley expects to begin trading as a remote member in the coming weeks.

About Abu Dhabi Securities Exchange (ADX)

The Abu Dhabi Securities Exchange (ADX) was established on 15 November 2000 pursuant to Local Law No. (3) of 2000, which granted the exchange legal rights with independent financial and administrative status, as well as the necessary supervisory and executive powers necessary to carry out its functions. On 17 March 2020, the ADX was converted from a public entity into a Public Joint Stock Company (PJSC) in accordance with Law No. (8) of 2020.

The ADX Group, a market infrastructure group comprising the exchange (ADX) and its post-trade ecosystem, including its wholly owned subsidiaries AD Depository and AD Clear, was established. Through its integrated and globally aligned business structure, the ADX Group supports efficient, transparent, and resilient capital markets across trading, clearing, settlement, and custody.

The Group provides an efficient and regulated marketplace for the trading of securities, including equities issued by public joint-stock companies, bonds issued by governments and corporations, exchange-traded funds (ETFs), and other financial instruments approved by the UAE Capital Market Authority.

The ADX is the second-largest exchange in the Arab region by market capitalization. Its strategy of delivering stable financial performance through diversified revenue streams is aligned with the UAE’s national development agenda, “Towards the Next 50”, which aims to build a sustainable, diversified, and high-value-added economy.

For more information, please contact:
Abdulrahman Saleh ALKhateeb
Manager of Corporate Communication
Abu Dhabi Securities Exchange (ADX)
Mobile: +971 (50) 668 9733
Email: ALKhateebA@adx.ae

 

 

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SOURCE Abu Dhabi Securities Exchange (ADX)

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Geotab integrates Polestar vehicles into its OEM telematics network

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Fleet operators across North America, Europe, and APAC can now access Polestar vehicle data directly in MyGeotab — no aftermarket hardware required.

LONDON, UK, May 5, 2026 /PRNewswire/ — Geotab, a global leader in connected vehicle and asset management solutions, today announced the integration of Polestar vehicles into its OEM telematics network, giving commercial fleet operators seamless access to Polestar data within MyGeotab from day one — with no aftermarket hardware installation required. The integration is available globally across North America, Europe, and Asia Pacific, supporting all Polestar models.

Developed in collaboration with Geotab, among other telematics service providers, Polestar Fleet Telematics integrates directly into MyGeotab. The Geotab integration enables fleet managers to manage Polestar vehicles alongside all other makes and models on a single unified platform — without fitting additional devices.

Connected vehicle data where it matters most

Through Polestar Fleet Telematics, fleet operators gain near-real-time access to a comprehensive dataset — covering EV battery and charging status, location, tyre information, vehicle security, maintenance alerts, and climate data — flowing directly from Polestar’s connected vehicle architecture into MyGeotab, with no physical installation required.

This breadth of data enables fleet managers to move from reactive to proactive operations — scheduling maintenance before failures occur, optimising charge planning across depots, and maintaining duty-of-care oversight across the entire fleet.

Supporting Europe’s Mixed-Fleet Reality

OEM-embedded telematics removes the need for aftermarket device installation across mixed-manufacturer fleets, reducing logistical overhead and supporting compliance with works council and GDPR requirements — a critical consideration for European fleet operators.

“Polestar Fleet Telematics combines sustainability with intelligence, integrating seamlessly with Geotab to deliver these capabilities directly into the platforms fleet operators trust. Continuous data visibility enables more efficient and informed fleet operations, from day-to-day management to long-term planning. By leveraging Polestar vehicles’ embedded connectivity, fleet managers can make smarter, data-driven decisions — without adding hardware or complexity to their operations.” said Emma Knapp, Manager of Global Key Accounts at Polestar.

Polestar joins an OEM telematics network that already spans over 80% of leading global vehicle manufacturers by fleet market share, including BMW Group, Ford, Stellantis, Volkswagen Group, and Volvo Cars. For fleet operators already using MyGeotab, Polestar vehicles can be connected and deliver data without any additional hardware or installation.

“OEM-embedded telematics represents a change in how fleet data reaches the platform — and Polestar’s connected vehicle architecture makes this integration particularly well-suited for markets that are seriously considering transitioning to electric vehicles.” said Christoph Ludewig, Vice President OEM Global at Geotab. “Fleet operators managing mixed EV and internal combustion engine fleets no longer need separate tools or hardware for each vehicle type. Polestar data flows directly into MyGeotab alongside every other vehicle in the fleet — giving operators the consolidated visibility they need to drive efficiency, support duty of care, and manage their EV transition with confidence.”

Global Availability

The integration is available now across North America, Europe, and Asia Pacific, supporting all Polestar models. Fleet managers can activate the service via the Geotab Marketplace or by contacting their Geotab representative.

About Polestar

Polestar (Nasdaq: PSNY) is the Swedish electric performance car brand with a focus on uncompromised design and innovation, and the ambition to accelerate the change towards a sustainable future. Headquartered in Gothenburg, Sweden, its cars are available in 28 markets globally across North America, Europe and Asia Pacific.

Polestar has four models in its line-up: Polestar 2, Polestar 3, Polestar 4, and Polestar 5. Planned models include the Polestar 7 compact SUV (to be introduced in 2028) and the Polestar 6 roadster. With its vehicles currently manufactured on two continents, North America and Asia, Polestar plans to diversify its manufacturing footprint further, with production of Polestar 7 planned in Europe.

Polestar has an unwavering commitment to sustainability and has set an ambitious roadmap to reach its climate targets: halve greenhouse gas emissions by 2030 per-vehicle-sold and become climate-neutral across its value chain by 2040. Polestar’s comprehensive sustainability strategy covers the four areas of Climate, Transparency, Circularity, and Inclusion.

About Geotab

Geotab is a global leader in connected vehicle and asset management solutions, with headquarters in Oakville, Ontario and Atlanta, Georgia. Our mission is to make the world safer, more efficient, and sustainable. We leverage advanced data analytics and AI to transform fleet performance and operations, reducing cost and driving efficiency. Backed by top data scientists and engineers, we serve approximately 100,000 global customers, processing 100 billion data points daily from more than 5 million vehicle subscriptions. Geotab is trusted by Fortune 500 organisations, mid-sized fleets, and the largest public sector fleets in the world, including the US Federal government. Committed to data security and privacy, we hold FIPS 140-3 and FedRAMP authorisations. Our open platform, ecosystem of outstanding partners, and Geotab Marketplace deliver hundreds of fleet-ready third-party solutions. This year, we’re celebrating 25 years of innovation. Learn more at www.geotab.com/uk and follow us on LinkedIn or visit our blog.

GEOTAB and GEOTAB MARKETPLACE are registered trademarks of Geotab Inc. in Canada, the United States and/or other countries.

Media Contact: Geotab Contact, Romina Dashghachian, Strategic Communications Lead, EMEA, pr@geotab.com

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IDX Opens Geneva Office and Strengthens Global Data & Insights Capability

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New Swiss presence and specialist team integration support growing global demand for evidence-based, defensible communications strategies

LONDON, May 5, 2026 /PRNewswire/ — IDX today announced the opening of its new Geneva office and the integration of a specialist Data & Insights team, strengthening the company’s international footprint and expanding its ability to help clients worldwide build communications strategies grounded in evidence, market intelligence and audience insight.

The expansion gives IDX an on-the-ground presence in Switzerland while adding further depth to its Data & Insights capability. The Geneva-based team will work closely with IDX specialists across performance marketing and corporate communications, helping clients develop a clearer view of the markets they operate in and the forces shaping their growth.

The move aligns with Destination 250 – Customers First, IDX’s global strategy to grow its team by 250, focused on deepening client value, strengthening delivery and investing in the capabilities that matter most to clients.

The investment strengthens the Data pillar of IDX’s Connected Content™ model, which combines Creative, Data, Technology and Media to create what IDX calls The Multiplier Effect, helping clients multiply what matters through more connected, measurable and effective work.

“IDX is experiencing phenomenal growth, and our new Geneva office gives us boots on the ground to better serve clients across Europe and globally across performance marketing, investor relations and corporate communications,” said Crispin Beale, Worldwide CEO, IDX. “Data has been at the heart of this business for decades, and this centre of excellence reflects our continued investment in that capability. It’s an incredibly exciting time for IDX, and I look forward to the next phase of our growth as we continue to expand globally.”

“This is an exciting step in IDX’s growth story and a clear response to what clients are asking for: more evidence-based thinking, stronger market context and clearer rationale behind their communications strategies,” said Chris Corrigan, Chief Customer Growth Officer, IDX. “Our new presence in Geneva, combined with deeper Data & Insights expertise, strengthens the way we support clients globally, giving them earlier access to the insight and market context they need to make better-informed decisions and turn evidence into action.”

The Geneva office will strengthen relationships with existing clients in the region, support re-engagement with former partners and create new opportunities for IDX with organisations operating across European and global markets. It reflects IDX’s continued investment in the capabilities that matter most to clients as communications, marketing and corporate reputation work become increasingly data-led and commercially accountable.

“IDX’s integrated offer across insights, performance marketing and corporate communications, powered by the combination of human intelligence, advanced technology and AI, represents exactly where the industry is heading,” said Lonneke de Roo, Head of Data & Insights, IDX. “I am delighted to join the business and help clients navigate increasingly complex markets with clearer evidence, sharper insight and more connected strategies.”

ABOUT IDX  

IDX is a global strategic communications and marketing agency, headquartered in London with offices around the world, including New York, London, Phoenix, Helsinki, Gothenburg, Geneva, and Vadodara. Working with more than 1,600 clients across sectors, IDX combines deep industry knowledge with a data-first mindset to help ambitious brands thrive in complex, fast-moving markets. The firm specialises in performance marketing, investor relations, and stakeholder engagement, delivering integrated campaigns that drive meaningful business outcomes. Visit www.idx.inc to learn more.

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