18 Jul 2012
Global revenues grew more than 10% in 2011 to reach $2.9 billion, but this is unlikely to be sustained, says IMS Research.IMS Research (which was recently acquired by IHS Inc., NYSE:IHS).
But in the report, entitled World Market for Machine Vision – 2012 Edition IMS Research goes on to explain the reasons why this level of growth is unlikely to be sustained during the forecast to 2016.
“The main reason for the restricted growth of this industry is considered to be instability in many economies around the world, particularly those countries in the eurozone,” commented John Morse, author of the report.
Morse continued: “The machine vision industry recovered well after the last recession as shown by the results of IMS Research’s free quarterly market tracker. However, revenue growth showed signs of slowing in the second half of 2011. Many manufacturers have expressed caution about growth in 2012 and beyond.”
The views of manufacturers echoed the findings of other recent IMS Research reports that present lower revenue forecasts than in previous editions. Generally, growth over the next five years will be less than previously forecast.
“However, it is not all bad news,” added Morse. “Despite manufacturing estimated to account for more than 80 percent of machine vision revenues, there is a trend towards machine vision products being used outside the manufacturing environment. For example: high quality security & surveillance, traffic monitoring & control and medical.”Resourceful manufacturers
Machine vision manufacturers have always proven themselves to be very resourceful and this continues with new developments frequently being announced. These include new types of camera and communication technology which are necessary to meet customers’ requirements for more information to be captured and transmitted at faster speeds. This commitment to continuous development is likely to ensure long-term prosperity for the machine vision market and keep it ahead of the game, particularly during times of economic uncertainty.
About IMS Research
IMS Research is a leading supplier of market research and consultancy to the global electronics industry. The company offers syndicated market studies, bespoke client research and consultancy services. From wireless communications to consumer and security, its reports can help industry better understand markets and shape their strategies.
Clients include most of the household names in the electronics industry and in many of the markets we serve, we are acknowledged as the leading provider of market intelligence. Clients benefit from unparalleled access to our analysts, and a range of additional resources. From discussions of research results, analyst presentations and marketing collaboration, we combine the attention typically afforded by small firms, with the research power and global outreach of a larger company.
About the Author
Matthew Peach is a contributing editor to optics.org