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.
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.
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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.”
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.