Good News Gets Better
The future looks even better for the global machine vision market than originally expected, according to Interact Analysis (Northampton, UK).
The market research firm, which provides market data to A3 Association for the Advancement of Automation, says it expects the global machine vision market to achieve 3.3% growth by the end of 2025, up from its initial forecast of 1.5% it released in May 2025, according to Interact Analysis Market Analyst Jonathan Sparkes
While the initial forecast for 1.5% growth seemed low, it was still positive news after several years of market decline. Revenue fell 2.8% from $6 billion in 2022 to $5.8 billion in 2023 and 3.9% from $5.8 billion in 2024 to $5.6 billion in 2024, according to the market research company.
In addition to a stronger market this year, the forecast predicts stronger growth over the next 3-4 years, with projected growth of 8.3% in 2027, 8.5% in 2028, and 9.8% in 2029. And, by 2029, Interact Analysis predicted that the machine vision market should be worth around $7.7 billion, which would surpass the $6 billion the industry achieved in 2022. These numbers are unlikely to change significantly, Sparkes says.
Tariff Uncertainty Prompted Lower Forecast Numbers
The initial prediction of low growth for 2025, was largely based on widespread uncertainty in the market due to tariffs, Sparkes says, “however, this year has actually panned out a lot better than expected. So, we're actually forecasting around 3.3% growth globally this year, and, within having a slightly stronger 2025, that has made us temper back our forecasts ever so slightly going out to 2029, mainly based just on the fact that the market size will be slightly bigger this year, but the total market size by 2029 will be similar.”
The impact of growth in the machine vision market during the remainder of the decade will drive up the average cost per unit from $310 in 2023 to $325 in 2029, Sparkes says, noting that the cost per unit includes a broad range of products, everything from a $10,000 camera to a $20 cable.
Interact Analysis forecasts that logistics and warehousing is the strongest end-user industry currently, but other sectors are looking very promising as well, Sparkes says. For example, aerospace and defense are especially doing well this year, Sparkes says.
“Not only the manufacturer defense products and equipment but also the navigation used within that,” Sparkes says. “So, you know, (we’re) looking at not just how any of these products are built and using vision within the assembly line but also being deployed as part of the finished product for navigation or sensing.”
Related: Jonathan Sparkes Talks Machine Vision Market Trends
Related: When Will Growth Return to the Machine Vision Market?