Machine vision market on 12% CAGR

February 20, 2018 // By Peter Clarke
Machine vision is driving an industrial revolution around automation and the machine vision camera market will grow from $2 billion in 2017 to roughly $4 billion in 2023, with a 12 percent compound annual growth rate (CAGR), according to Yole Developpement (Lyon, France).

Machine vision for industry and automation is not limited to robotics, but is involved in almost all machines and multiple aspects of the manufacturing cycle.

Machine vision camera growth by application. Source: Yole Developpement.

"The need for quality has boosted machine vision in the automotive, electronic, semiconductor, food, and packaging industries," said Alexis Debray, a technology and market analyst at Yole, in a statement. It is in farms for food sorting, on highways for number plate recognition and more recently in autonomous cars where the use of cameras is expected to grow with a CAGR of 140 percent over the period 2017 to 2023.

Machine vision camera market shares in 2017. Source: Yole Developpement.

Both Swatch for watches and Canon for cameras have announced completely automated, human-less, manufacturing lines and Foxconn has deployed a million robots for consumer electronics manufacturing.The move from CCD to CMOS image sensing for even high-end, low volume cameras has driven the emergence of CMOS image sensor foundries such as Tower's TPSCo, Dongbu Hitek and SMIC, who recently acquired LFoundry’s assets in Italy.

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www.yole.fr

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