Machine Vision Market Sees CAGR of 6.4% Between 2022 and 2028

“The top three machine vision vendors, Keyence, Cognex, and Teledyne, accounted for nearly one-third of global revenues in 2023,” says Jonathan Sparkes, research analyst at Interact Analysis. “Due to the stronger performance of end customers in APAC, vendors in that region were expected to have had a better year than those with less exposure in 2023. In general, APAC suppliers—particularly those in China—took share from those who conduct more of their business in other global regions.”

The report provides an understanding of market and economic trends driving and restricting growth of machine vision products by industry, application, and country. The report is built through extensive primary research and supplier reporting, and utilizes data from Interact Analysis’ “Manufacturing Industry Output Tracker (MIO)”—well respected for its credible industry forecasts by country, which inform the forecast for machine vision.

With more than 200 years of combined experience, Interact Analysis is the market intelligence authority for global supply chain automation. Its research covers the entire automation value chain—from the technology used to automate factory production, through inventory storage and distribution channels, to the transportation of the finished goods. To learn more, visit www.InteractAnalysis.com.

Looking at the market for machine vision by application, inspection is dominant, with this segment representing over 40% of use cases in 2022. By 2028, inspection will be worth around $3.9 billion. Resulting from the strong outlook for mobile robots, autonomous driving is forecast the largest CAGR between 2022 and 2028 (20.8%), followed by bin-picking (19.2%), which will benefit from deployment with industrial robots across a wide range of manufacturing industries.

However, someone has to pay for this content. And that’s where advertising comes in. Most people consider ads a nuisance, but they do serve a useful function besides allowing media companies to stay afloat. They keep you aware of new products and services relevant to your industry. All ads in Quality Digest apply directly to products and services that most of our readers need. You won’t see automobile or health supplement ads.

Quality Digest does not charge readers for its content. We believe that industry news is important for you to do your job, and Quality Digest supports businesses of all types.

Published: Monday, February 12, 2024 – 12:01

Our PROMISE: Quality Digest only displays static ads that never overlay or cover up content. They never get in your way. They are there for you to read, or not.

Metrology

Machine vision market will return to single-digit growth in 2024 following declines in 2023

Sparkes says, “Despite a plethora of mergers and acquisitions in recent years, the machine vision market is still considered fragmented. New vendors continue to enter the market, with over 200 active worldwide. We are seeing increasing activity from new vendors in China in particular, as well as in those territories where machine vision products are increasingly being used for autonomous driving and bin-picking.”

Thanks,
Quality Digest

منبع: https://www.qualitydigest.com/inside/metrology-news/machine-vision-market-sees-cagr-64-between-2022-and-2028-021224.html

(Interact Analysis: London) — After a slow year for the global machine vision market in 2023, a return to growth is expected in 2024, according to market intelligence specialist Interact Analysis. Despite global automation markets growth, 2023 was a challenging year for machine vision vendors, and total revenues declined from $6.5 billion in 2022 to $6.3 billion last year. In the wake of this, the market is forecast to record single-digit growth of around 1.4% in 2024.