Machine vision plays an integral role in just about any type of industrial or life science automation. Everything from 3D vision for a robotic arm to simple line scan inspection on a production line, machine vision capabilities are rapidly growing, and so is demand.
But what’s driving the demand for machine vision products? By how much, exactly, is the machine vision market growing?
Expected Growth of the Machine Vision Market
The machine vision market is expected to be worth $14.43 billion by 2022, according to a recent study by Markets and Markets. The industry is expected to see a compound annual growth rate (CAGR) of 8.15% between 2016 and 2022.
Demand for smart-cameras with the ability to decode algorithms and perform traceability functions in an economical manner will see the fastest growth during this time period. By 2022, quality assurance and inspection applications are expected to hold the largest market share in machine vision.
The machine vision market is growing fast. What’s driving this growth?
The Driving Forces Behind the Growth in Machine Vision
There are many reasons why machine vision is growing in popularity in a number of automation applications. They can be broken down into four main areas:
1. Quality
A machine vision system is more accurate than a human, especially in terms of quality assurance and inspection processes. This leads to fewer errors and a consistently higher product.
2. Productivity
Machine vision systems complete highly repeatable tasks much more quickly and for a longer time than a human, as they can work continuously. After an initial investment, they are much cheaper in the long run.
3. Flexibility and Costs
Machine vision enables robots to complete more than one task, as opposed to “blind robots”, increasing their flexibility. When you need fewer robots, fewer laborers and production speed is increased, lower costs are an inevitable result.
4. Communication
Most machine vision applications employ smart-cameras or pc-based systems. These machine vision systems can transmit data about application efficiency to improve processes on the go.
The machine vision market, as well as machine vision capabilities, is set to experience rapid growth. Much of this is due to the many benefits machine vision systems have when automating processes.
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