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.
- 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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