World news: July 2012
Machine vision finds new uses as sales slow down
The global market for machine vision systems grew by about 10% last year to a reach a value of almost $2.9bn. But a new report from IMS Research predicts that growth over the coming five years will be slower than previously forecast.
According to the report’s author, John Morse, the main reason for this is the instability in many economies around the world, particularly those in the Euro-zone.
Although the machine vision industry recovered well after the last recession, revenue growth showed signs of slowing in the second half of 2011 and many manufacturers are cautious about growth prospects for 2012 and beyond. The graph above shows IMS` predictions for growth rates for the period to 2016.
“It is not all bad news,” Morse adds. “Although manufacturing is estimated to account for more than 80% of machine vision revenues, there is a trend towards machine vision products being used outside the manufacturing environment – for example, in high-quality security and surveillance, traffic monitoring, and control and medical.”
Machine vision manufacturers are continuing to innovate, with recent developments including new types of camera and communications technologies that allow more information to be captured and transmitted at faster speeds. IMS suggests that this commitment to continuous development is likely to ensure long-term prosperity for the machine vision industry.