According to a recent report by IMS Research (Wellingborough, UK) the world market for machine vision was worth nearly $2.9 billion in 2011, a year which saw revenues grow by more than 10 per cent.
But the report -- World Market for Machine Vision 2012 -- goes on to explain that this level of growth is unlikely to be sustained during the forecast to 2016.
According to the report’s author John Morse, the main reason for the restricted growth of the industry is considered to be the instability in many economies around the world, particularly those countries that have adopted the Euro.
"The machine vision industry recovered well after the last recession. However, revenue growth showed signs of slowing in the second half of 2011. Many manufacturers expressed caution about growth in 2012 and beyond," says Morse.
But it's not all gloom and doom for vendors of machine vision products. "Despite the fact that manufacturing was estimated to account for more than 80 per cent of machine vision revenues, there is a trend towards machine vision products being used outside the manufacturing environment in security and surveillance, traffic monitoring, and control and medical applications," Morse adds.
Other recent industry reports you may be interested in reading:
1. Machine vision market grows five percent
Sales of machine vision components and systems in North America climbed five percent in 2011 to nearly $1.9 billion, according to figures released by the AIA (Automated Imaging Association; Ann Arbor, MI, USA), the industry’s global trade group.
2. Report assesses image sensor market
According to a new market report published by Transparency Market Research (Albany NY, USA) the US image sensors market was worth $2.0 billion in 2011 and is forecasted to reach $3.7 billion in 2017 at a compound annual growth rate of 11.1 per cent from 2011 to 2017.
3. Report focuses in on the infrared market
A new report from Yole Développement (Lyon-Villeurbanne, France) takes a look at trends and technologies in the uncooled infrared imaging (IR) market.
-- Dave Wilson, Vision Systems Design