machine vision technology: demand rising in north america | an aranca infographic
DESCRIPTION
By 2015, the market value of machine vision is forecast to reach about $2.8 billion in North America. Machine vision sales are expected to grow largely on account of the growing need for automation technology and modernization in the manufacturing sector.TRANSCRIPT
Machine Vision TechnologyDemand Rising in North America
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Compiled by: Namita Shetty
The resurgence of the manufacturing sector in North America will fuel expansion of the machine
vision industry. Subsequently, machine vision sales are expected to grow largely on account of
the growing need for automation technology and modernization in the manufacturing sector.
Moreover, positive economic indicators for the region, especially the index of industrial
production, also strengthen the machine vision industry’s prospects.
Aranca’s Views
A technology that helps in capturing and analyzing visual information, machine vision has become a significant tool for manufacturing automation. By 2015, the market value of machine vision is forecast to reach about $2.8 billion in North America.
According to Automated Imaging Association (AIA), the largest machine vision trade association, the North American market witnessed strong growth driven by recovery in the US manufacturing sector after 2012
Increased adoption of machine vision technology across sectors such as appliances and components, food and beverage and fabricated metal products has been vital to the industry’s growth.
Market size of machine vision in North America – US$ Billion (2011–15F)
Growth in North American machine vision market helps global companies
Top performing component and system categories – Q2 2014 (% growth) in North America
1.91.8
2.02.5
2.8
2011 2012 2013 2014E 2015F
CAGR (2011 - 15F): 9.9%
The rising sales of camera and smart camera categories are expected to support the industry in crossing the $2-billion mark in market value in 2014
Cognex’s revenues expanded 26%
year-on-year (YOY) to $102 million in Q2 2014
Allied Vision Technologies sold 10,000 cameras per
month during H1 2014 (second best performance in the company’s history)
Basler‘s machine vision products order grew 23%
(YoY) to $52.7 million in H1 2014
The rising demand for machine vision technology in North America has benefitted global players operating in this space. US-based Cognex and Germany-based Allied and Basler have reported strong performance in the first half of 2014.
Source: AIA – North American Association for Machine Vision Products and Aranca Analysis
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Software
Lighting
Smart Camera
Camera