The global machine vision market is expected to return to growth in 2024, expanding by around 1.4% this year. This is partially due to the continued growth of the 3D camera market, but is also a result of a return to growth in key machine vision consuming sectors (such as semis and electronics), which are expected to perform better in 2024 than the wider manufacturing industry. However, growth for some is also stimulated by acquisition, as companies seek opportunities to broaden their machine vision portfolio in order to offer customers a more complete solution. This trend, which is common across all facets of industrial automation, seems to be especially prevalent in the machine vision market right now.
The research anticipates that by 2028 the Americas and EMEA will have the largest growth, at 12.6% and 12.3% respectively. We see this growth potential as a result of the continued partnering and acquisition culture among large machine vision vendors. Companies are looking at ways to expand their portfolio to develop a full offering and a solution-based service to customers. While there are many new vendors entering the machine vision market, global corporations investing in acquiring technology and expertise in each of the machine vision component sectors.