The machine vision industry is primed for continued growth in the coming decade. Built on the rapid advancement of smarter, smaller, faster and cheaper sensors and processors, the industry was estimated at about $7.9 billion in 2017. By 2023, it could grow to about $12.29 billion, according to according to a study by Research and Markets, growing at an annual rate of almost 8%.
“In order to maintain this growth, new innovative products will enter the market and the camera offerings have to become more diverse,” says Hammad Naeem, application engineer at Basler Inc.