Quality drives European vision-market growth
Increased sales, emergence of new competitors, and sustained marketing and promotional activities by vendors are all clear indications that the European industrial vision-systems market is growing. Based on a recent market study by Frost & Sullivan, we estimate that the market witnessed moderate growth in revenues over 2001-2004, reaching $500 million in 2004. The compound annual growth rate (CAGR) was 6.8% during this period.
Stringent quality and quality-control requirements, increasing throughput on the production lines, and the need to offer defect-free products are the chief drivers fueling the demand for vision systems. Technology advancements have been making vision systems that meet these requirements more capable, viable, and easy to use (see Fig. 1). These developments are expected to increase the demand for vision systems over the next five or six years. The industrial vision-systems market in Europe is expected to reach $948.4 million by 2011, with a CAGR of 9.6%.
BY PRODUCT LINE
Dimensional metrology systems, guidance systems, and web-inspection systems have cornered the largest market share by value in Europe in 2004. One-, two-, and three-dimensional metrology systems together represented 40% of the 2004 market. Guidance systems and web-inspection systems represented 16% and 18%, respectively, in 2004.
Three-dimensional metrology systems are expected to increasingly replace 2-D metrology systems as they become more user-friendly. Demand for nonweb flaw-detection systems for surface inspection of discreet parts in the automobile, glass work, woodwork, and ceramic industries is expected to sustain revenue growth over the next five or six years.