New report forecasts slower growth for machine vision
The world market for machine vision was worth nearly $2.9 billion in 2011. According to the just published world machine vision report, revenues grew more than 10% in 2011.
John Morse, Senior Analyst, IMS Research (IHS Inc.)
IMS Research (recently acquired by IHS Inc.) estimates the world market for machine vision was worth nearly $2.9 billion in 2011. According to the just published world machine vision report, revenues grew more than 10% in 2011.
The report 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 that have adopted the Euro,” commented John Morse, author of the new 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 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.
“It is not all bad news,” added Morse. “Despite manufacturing estimated to account for more than 80% of machine vision revenues, there is a trend towards machine vision products being used outside the manufacturing environment. For example: high quality security and surveillance, traffic monitoring, control and medical.”
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.
- Related News:
Machine Vision Resource Guide from Control Engineering - 10.05.2013 15:19- Daily Insight for July 11, 2012 - 11.07.2012 10:46
- Machine vision: high-speed, long-distance communications - 04.06.2012 16:12
Case Study Database
Get more exposure for your case study by uploading it to the Plant Engineering case study database, where end-users can identify relevant solutions and explore what the experts are doing to effectively implement a variety of technology and productivity related projects.
These case studies provide examples of how knowledgeable solution providers have used technology, processes and people to create effective and successful implementations in real-world situations. Case studies can be completed by filling out a simple online form where you can outline the project title, abstract, and full story in 1500 words or less; upload photos, videos and a logo.
Click here to visit the Case Study Database and upload your case study.
2012 Salary Survey
In a year when manufacturing continued to lead the economic rebound, it makes sense that plant manager bonuses rebounded. Plant Engineering’s annual Salary Survey shows both wages and bonuses rose in 2012 after a retreat the year before.
Average salary across all job titles for plant floor management rose 3.5% to $95,446, and bonus compensation jumped to $15,162, a 4.2% increase from the 2010 level and double the 2011 total, which showed a sharp drop in bonus.