Global Machine Vision Growth Opportunities
High Automation Demand and Post-COVID-19 Changes in End-user Habits Drive the Market
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.
RESEARCH HIGHLIGHTS:
- Market growth duration and rate
- Regions and product segments that will register rapid growth
- Industry verticals with high demand and high growth opportunities
- Emerging market trends
- Leading vendors and the competitive landscape
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