We all know the elephant in the room: artificial intelligence (AI) including deep learning (DL). Before discussing this trend or, really, this disruptive event, let’s lay some groundwork by discussing the market drivers for machine vision that ultimately power the trends.
The year 2022 was a great year for machine vision with exceptional growth. In contrast, 2023 is seeing the market contract both due economic uncertainty and rising interest rates making capital more expensive. Still, the machine vision market will continue its long-term trend of higher single digit compound growth exceeding the growth of the GDP.