From a regional perspective, Asia-Pacific (APAC) will remain the largest and fastest-growing market for machine vision systems over the forecast period. Industrialization—especially in automotive, pharmaceuticals, and electronics and semiconductors—is the primary reason to leverage the market in the region. Similarly, North America and Europe will register moderate growth. Demand for automation in manufacturing—food processing, pharmaceutical, automotive, and medical devices—will accelerate the machine vision systems industry in the regions.
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"The demand for machine vision systems will witness a surge as the manufacturing industry worldwide makes a transformational shift toward Industry 5.0, which will be fully autonomous with human-to-machine interfaces and zero waste," said Sujan Sami, Industrial Program Manager at Frost & Sullivan. "Further, the change in consumer eating habits and lifestyles due to pandemic has resulted in the growth of food and beverage manufacturing, processing, and packaging companies. As food safety regulations grow stricter globally, food processing and manufacturing industries increasingly depend on machine vision systems for quality control."
Sami added: "As end-users increasingly seek compact, high-quality, and easy-to-integrate vision solutions for their business processes, market leaders are developing strategic partnerships with automation and robotics companies to bring cost-effective business and service models in the machine vision space. Further, market participants' efforts to provide automation solutions at low costs encourage them to create innovative business models like the subscription-based as-a-service model, which meets customers' needs for high-quality services at low prices."
To tap into machine vision growth opportunities, vendors should focus on:
Global Machine Vision Growth Opportunities is the latest addition to Frost & Sullivan's Industrial research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations, identify a continuous flow of growth opportunities to succeed in an unpredictable future.
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Global Machine Vision Growth Opportunities
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SOURCE Frost & Sullivan
