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The global machine vision market revenue in 2020 is $10.28 billion and is forecast to record a 6.4% CAGR between 2020 and 2025. The market took a major hit in 2020 due to the COVID-19 pandemic, with sales declining 4.6% from 2019. However, Frost & Sullivan expects that market to register 3.8% growth in 2021. Positive trends in pharmaceuticals, food and beverage processing and packaging, electronics and semiconductors, and automotive will drive the market in 2021 and during the forecast period.

There is a rising demand for industrial automation worldwide to enhance operations and productivity. Manufacturers are also adopting automation post-pandemic to automate their manufacturing units fully. This is to minimize human intervention should another pandemic arise in the future. Post-pandemic changes in eating habits and lifestyle enable the food and beverage manufacturing, processing, and packaging companies to grow. As food safety regulations get stricter worldwide, the food processing and manufacturing industry increasingly depends on machine vision systems for quality control.

Asia-Pacific (APAC) is the biggest region for machine vision, contributing 40.6% of the global revenue in 2020 and expected to record the highest CAGR (10.3%) between 2020 and 2025. North America and Europe are the other two prominent regions with revenue shares of 28.5% and 24.5%, respectively.