MARCH 23--Significant investments in research and development (R&D) greatly influence the machine-vision and x-ray inspection markets. To stay afloat in this competitive environment, manufacturers need to keep pace with changes in the market, while providing technology that adequately satisfies customer demand. A new analysis report by Frost & Sullivan (Palo Alto, CA, USA; www.testandmeasurement.frost.com), World Machine Vision and X-Ray Inspection Systems Market, reveals that the vision-inspection-equipment market earned revenues of $2.32 billion in 2006 and estimates this to reach $3.70 billion in 2013. Additionally, the analysis reveals that the x-ray inspection equipment market earned revenues of $1.56 billion in 2006 and estimates this to reach $2.66 billion in 2013. A virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the report, is available by sending e-mail to Sara Villarruel, corporate communications, at [email protected], with your full name, company name, title, telephone number, fax number, and e-mail address.
Recent technological advancements, coupled with the price pressures faced by market competitors that aim to achieve significant profits, will likely result in the rapid development of cost-effective and sophisticated equipment. While many machine-vision and x-ray equipment manufacturers have leveraged their R&D expertise to successfully adapt to the shift toward digital systems, some vendors have yet to embrace this movement. The slow adoption of emerging digital technology may ultimately hinder the overall revenues for both the machine-vision and x-ray inspection markets.
"The inadequate revenues generated by the more reluctant market participants may reduce the overall market revenues and hinder market growth," says Frost & Sullivan research analyst Juan Rosales. "For these vendors to contribute to the success of the marketplace and to ensure that they maintain a stable customer base, they must determine the types of unique advantages that can be offered to clients, whether such advantages are financial or service-based."
Vendors can take advantage of recent significant machine-vision trends, namely the use of high-speed smart cameras and the shift from analog to digital interfaces, to improve the consumption rates among users that desire accurate inspection equipment. The numerous advancements in emerging technologies combined with overall decreasing costs, will continue to promote the growth of both the machine vision and x-ray inspection markets. The market will likely continue to experience a considerable increase in revenues as it has in recent times.
"To achieve profits in this promising, yet challenging market, emerging companies will have to strive harder to stand out," notes Rosales. "They need to immediately contribute a groundbreaking solution to the machine-vision market to gain visibility in a crowded marketplace."
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership service, and corporate management training to identify and develop opportunities. For more information, visit www.frost.com.
