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Machine Vision Market worth $18.4 billion by 2028 – Exclusive Report by MarketsandMarkets™

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CHICAGO, Nov. 3, 2023 /PRNewswire/ — The global Machine vision market is expected to grow from USD 12.9 billion in 2023 to USD 18.4 billion by 2028, registering a CAGR of 7.3% according to a new report by MarketsandMarkets™. The growth of the machine vision market is propelled by rising demand for water and wastewater treatment, increasing use of machine visions in drug safety, and fiscal policy measures by regional financial institutions to boost the machine vision market.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=234246734
Browse in-depth TOC on “Machine Vision Market” 172 – Tables69 – Figures271 – Pages
Machine Vision Market Report Scope:
Report Coverage
Details
Market Revenue in 2023
$ 12.9 billion
Estimated Value by 2028
$ 18.4 billion
Growth Rate
Poised to grow at a CAGR of 7.3%
Market Size Available for
2019–2028
Forecast Period
2023–2028
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Component, Deployment, Product, Application, End-user Industry and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Complexities associated with integration of different components of machine vision systems and production lines at application sites
Key Market Opportunities
Integration of Industry 4.0 technologies into manufacturing processes
Key Market Drivers
Rising need for safety and enhancing product quality in industrial sector
General segment to hold the largest market share in the year 2022.
The machine vision industry is experiencing a surge in widespread deployment. This expansion is propelled by the convergence of cutting-edge technologies, a growing demand for automation, and the imperative for precision, quality assurance, and operational efficiency. Machine vision applications span across industries, driving remarkable growth and innovation in this dynamic sector.
Camera segment to record the highest CAGR during the forecast period.
The machine vision market has witnessed substantial growth in camera technology. High-resolution cameras with advanced features, such as higher frame rates, lower latency, and enhanced image processing capabilities, have become essential for applications like automation, robotics, and quality inspection. The demand for specialized cameras tailored to specific industry needs has also surged, contributing to the market’s expansion.
Smart Camera-based segment to record the highest CAGR during the forecast period.
The smart camera-based machine vision system is experiencing substantial growth. Its compact form factor, embedded processing capabilities, and seamless integration make it a preferred choice across industries. As automation and quality control requirements surge, smart camera systems are integral to improving efficiency and precision, fueling their rapid expansion.
Food & Packaging segment to record the highest CAGR during the forecast period.
The utilization of machine vision technology has witnessed substantial growth within the food and packaging sector. This advancement has revolutionized quality control and operational efficiency. Automated inspection systems have become indispensable, detecting imperfections, guaranteeing precise labeling, and ensuring product integrity. Consequently, manufacturing processes have become more streamlined, errors have significantly reduced, and compliance with rigorous industry regulations has improved, ultimately elevating product safety and customer contentment.
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Asia Pacific is expected to grow at the highest CAGR in the Machine vision market from 2023 to 2028.
The Machine Vision System industry in the Asia Pacific region has experienced a remarkable ascent, marked by a compelling synergy of technological innovation and cultural diversity. This burgeoning market boasts diverse applications across multiple sectors, ranging from electronics to agriculture. The rapid technological evolution in China, precision engineering prowess in Japan, and creative ingenuity in South Korea collectively shape a dynamic landscape propelling the exceptional growth of the Machine Vision System sector in this region.
Key players operating in the Machine vision companies include Cognex Corporation (US), Basler AG (Germany), Omron Corporation (Japan), National Instrument Corporation (US), Keyence Corporation (Japan), Teledyne Technologies (US), Sick AG (Germany), TKH Group (Netherland), Sony Corporation (Japan), Texas Instruments Incorporated (US), Intel Corporation (US), Atlas Copco (Sweden), Microsoft (US) and Others in the Machine vision market.
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
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About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact: Mr. Aashish MehraMarketsandMarkets™ INC. 630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/industrial-machine-vision-market.aspContent Source: https://www.marketsandmarkets.com/PressReleases/industrial-machine-vision.asp
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Cato Networks Named a Leader in the 2024 Gartner Magic Quadrant for Single-Vendor SASE

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Cato SASE Cloud Platform continues to shape the enterprise security market
TEL AVIV, Israel, July 8, 2024 /PRNewswire/ — Cato Networks, the SASE leader, today announced that Gartner, Inc. has recognized the company as a Leader in the 2024 Gartner® Magic Quadrant™ for Single-Vendor SASE.

“Cato’s true SASE platform is the antidote to IT complexity that persists in the face of ongoing so-called ‘platformization’ efforts,” said Shlomo Kramer, co-founder and CEO at Cato Networks. “Cato pioneered the SASE market and is shaping its future with best-in-class customer experience and a train of innovations that deliver on SASE’s promise.”
Built from its inception to be a platform, the Cato SASE Cloud combines operational excellence and an elegant customer experience. Cato’s autonomous cloud service offloads IT from the grunt work of extending, upgrading, patching, and scaling security infrastructure while sustaining resiliency and availability. “Platformization” is a portfolio approach to SASE and attempts to integrate multiple acquired products with differing code bases, form factors, policy engines, and data lakes into a single platform – an impossible task that is apparent to anyone familiar with the two approaches.
“We believe this Gartner recognition reflects what our customers experience with Cato every day,” continued Kramer.
As of July 3, 2024, on Gartner Peer Insights™, the Cato SASE Cloud Platform had an overall rating of 4.7 out of 5 for single-vendor SASE and 183 verified reviews – more than 10x of any Leader in the single-vendor SASE Magic Quadrant.
Cato Expands the Scope of Single-Vendor SASE
Gartner defines single-vendor secure access service edge (SASE) offerings as those that deliver multiple converged-network and security-as-a-service capabilities, such as software-defined WAN, secure web gateway, cloud access security broker, network firewalling and zero trust network access. These offerings use a cloud-centric architecture and are delivered by one vendor.1
The Cato SASE Cloud Platform extends beyond the original definition of SASE to deliver world-class performance and empower IT teams to eliminate threats and troubleshoot network incidents faster. Cato owns and manages the global cloud network, delivering an exceptional SASE experience to any enterprise worldwide. Functionally, Cato extends beyond threat prevention of the original SASE scope with SASE-managed endpoint protection (EPP/EDR) and SASE-based extended detection and response (XDR), the first AI-driven networking and security incident detection and response platform.
To experience Cato yourself, visit us at https://www.catonetworks.com.
1Gartner, Magic Quadrant for Single-Vendor SASE, Andrew Lerner, Jonathan Forest, Neil McDonald, Charlie Winckless, 3 July 2024
GARTNER is a registered trademark and service mark of Gartner and Magic Quadrant and PEER INSIGHTS are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.
Gartner Peer Insights content consists of the opinions of individual end users based on their own experiences with the vendors listed on the platform, should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product or service depicted in this content nor makes any warranties, expressed or implied, with respect to this content, about its accuracy or completeness, including any warranties of merchantability or fitness for a particular purpose.
Resources
Read the Cato blog, “With Great Leadership Comes Great Responsibility”Picture of Shlomo KramerCato Networks’ LogoAbout Cato NetworksCato Networks is the SASE leader, delivering enterprise security and networking in a single cloud platform. With Cato, organizations replace costly and rigid legacy infrastructure with an open and modular SASE architecture based on SD-WAN, a purpose-built global cloud network, and an embedded cloud-native security stack.
Want to learn why thousands of organizations secure their future with Cato? Visit us at www.catonetworks.com.

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Sinch Launches Omnichannel Connector on Salesforce AppExchange

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Expanding Messaging Capabilities for Businesses
SAN FRANCISCO and STOCKHOLM, July 8, 2024 /PRNewswire/ — Sinch (Sinch AB (publ) – XSTO: SINCH), which is pioneering the way the world communicates through its Customer Communications Cloud, today introduced the Sinch Omnichannel Connector on Salesforce AppExchange.  This innovative solution enhances conversational marketing opportunities and customer experiences by offering Salesforce Marketing Cloud customers advanced one-way and two-way messaging capabilities.  The solution is now available on Salesforce AppExchange.

The Sinch Omnichannel Connector seamlessly integrates with the Salesforce ecosystem, empowering businesses to elevate their marketing strategies by reaching and engaging customers across their preferred channels. This new offering expands the reach of Salesforce Marketing Cloud platform features, providing a comprehensive suite of omnichannel messaging capabilities. Businesses can now connect with customers through one-way and two-way messaging across 13 diverse channels, including platforms like RCS, Kakao Talk, Viper, and Instagram.  This expands Salesforce’s native channels of SMS, MMS, Email, WhatsApp, and LINE, providing a comprehensive communication solution. 
“With the Sinch Omnichannel Connector, businesses can enhance their customer communications, personalize engagements, and maximize the return on their marketing investments,” said Jonathan Campbell, Senior Director, Messaging Products at Sinch.  “Salesforce Marketing Cloud users can now leverage a broader spectrum of messaging channels through Sinch, beyond those directly supported by Salesforce, to optimize their marketing strategies and elevate customer engagement.”
 To get started, Salesforce Marketing Cloud users simply need to have an existing account and onboard the Conversation API through the Sinch Dashboard. From there, they can easily activate the channels of their choice, tailoring their messaging strategy to suit their unique business needs.
Sinch has partnered with Salesforce since 2014 when Salesforce expanded its SMS offering into international markets. Sinch is a strategic supplier for Salesforce’s global SMS delivery and provides enterprise-grade messaging solutions that support Salesforce and its global customer base.
For more information visit Sinch Omnichannel Connector
Salesforce, AppExchange, Marketing Cloud and others are among the trademarks of Salesforce, Inc.
CONTACT:
For further information, please contact:
Janet LennonDirector of Global Communications [email protected]
This information was brought to you by Cision http://news.cision.com
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DAMAC Group Announces Increased Investment in Artificial Intelligence Sector with Notable Investments in Anthropic, xAI and Mistral

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Through strategic investments, DAMAC is dedicated to fostering innovation and driving the next wave of technological advancements
DUBAI, UAE, July 8, 2024 /PRNewswire/ — DAMAC Group, a leading conglomerate known for its diverse investment portfolio, has announced a significant increase in its investment in the rapidly evolving Artificial Intelligence (AI) sector.

DAMAC Group announced notable investments in leading AI companies including a $50 million in the AI startup, Anthropic – as one of the top investors who have bought into the company from the cryptocurrency exchange, FTX. The Group has also made investments in xAI – an American AI startup founded by Elon Musk and in Mistral – a France-based AI company which is one of the best European large-language model open source. This strategic move aligns with the Group’s vision to support and develop cutting-edge AI technologies and infrastructure.
The DAMAC Group’s diversified family office has already invested in over 70 funds across various strategies, demonstrating its commitment to fostering innovation and growth across multiple industries. With this new focus on AI, the Group aims to further enhance its role in advancing foundational AI models and infrastructure.
“As a forward-thinking organisation, we recognise the transformative potential of AI in shaping the future,” said Hussain Sajwani, Founder of DAMAC Group. “Our increased investment in AI reflects our commitment to supporting the development of groundbreaking technologies that can drive significant progress and create new opportunities across various sectors.”
“We are excited to be part of the AI revolution and to contribute to the growth of this dynamic industry,” added Sajwani. “Our investments in companies like Mistral, Anthropic, and xAI underscore our dedication to fostering innovation and driving the next wave of technological advancements.”
A study by PwC underscores the immense potential of AI to transform the productivity and GDP potential of the global economy. AI could contribute up to $15.7 trillion to the global economy by 2030. Initial GDP gains will be driven by improvements in labour productivity as firms augment their workforce with AI technologies and automate certain tasks and roles. By 2030, 45% of total economic gains will come from product enhancements, stimulating consumer demand through greater product variety, increased personalisation, and enhanced affordability.
The greatest economic gains from AI will be seen in China, with a 26% boost to GDP, and in North America, with a 14.5% boost. Together, these regions will account for almost 70% of the global economic impact, equivalent to a total of $10.7 trillion.
DAMAC Group’s increased focus on AI and technological infrastructure is expected to bolster its existing portfolio and pave the way for new strategic partnerships and collaborations. The Group aims to leverage advanced technologies to create value and drive sustainable growth.
ABOUT DAMAC GROUP
The DAMAC Group is the multi-billion-dollar business conglomerate of UAE based Hussain Sajwani. The Group’s investments are divided into seven core areas; real estate, capital markets, hotels & resorts, manufacturing, catering, high-end fashion and data centres.
Some of the Group’s most notable activities include DAMAC Properties, one of the region’s largest property developers, the acquisition of the Italian fashion house, Roberto Cavalli and luxury Swiss jewellery brand de GRISOGONO, the 50-storey development DAMAC Towers Nine Elms in London and a luxury resort in the Maldives.
In a bid to disrupt the global data centre landscape, the Group recently announced plans to build data centres through its digital infrastructure company, EDGNEX Data Centres by DAMAC, across different global locations.
Today, the Group’s global footprint extends across North America, Europe, Asia, Middle East and Africa. With its vision firmly set on growth and expansion, the Group continues in its quest for diversification and business excellence.
For more information, please contact:
Visit us at www.damacgroup.com Email: [email protected] 
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