Digital Lifescapes

More organizations are exploring machine vision use cases. Machine vision combines hardware and software to provide operational guidance to devices in the execution of their functions based on the capture and processing of images. Machine vision is rapidly becoming an enabling technology for emerging automation requirements in automotive, healthcare, manufacturing, retail, smart buildings, smart cities, transportation, and logistics applications. The total revenue of machine vision technology in the seven major global markets is expected to reach $36 billion by 2027 -- that's up from $21.4 billion in 2022. This growth translates to a CAGR of 11 percent, according to the latest market study by ABI Research. Machine Vision Market Development Traditionally, machine vision was primarily focused on surveillance and security, asset monitoring, and defect inspection. These mature applications continue to drive the main bulk of total camera shipments within the enterprise market. However, ...

Some technology sector M&A activity is relatively immune to market disruptions. The robotics industry received significant investment in 2019, reaching $46 billion. A total of $17.8 billion went to acquisitions and a further $29 billion went into investments, according to the latest worldwide market study by ABI Research. Most of the funding was focused on autonomous passenger vehicles (APV’s), surgical robotics, and warehouse automation, with significant new growth for field robotics and drone services. Robotics Technology Market Development "Despite not having commercialized their technology, autonomous passenger vehicle developers like Waymo, Cruise, Zoox and company have continued to amass enormous funding from the corporate and VC world," said Rian Whitton, senior analyst at ABI Research . Surgical robots also received significant new funding, and have already been commercialized to a considerable extent, with Intuitive Surgical selling over 5,000 Da Vinci ro...

The collaborative robot (cobot) industry is advancing globally as more companies seek to lower manufacturing costs and increase the speed of production. While the established industrial robot vendors have made some progress, the pure cobot developers are creating ergonomic systems. Guided by early innovators and adopters, the collaborative robotics market will become mainstream over the next 10 years. According to the latest worldwide market study by ABI Research, the yearly revenue for cobot arms will reach $11.8 billion by 2030 -- that's an increase from $711 million in 2019. Collaborative Robot Market Development Furthermore, the total value of the collaborative market is much greater, when accounting for software-related revenues and end-of-arm tooling (EOAT) accessories. Under this broader definition of the market, the cobot ecosystem is worth just over $1 billion in 2019 and will be worth $24 billion by 2030, with a CAGR of 28.6 percent. "The prospects for the co...

Factory automation is evolving, once again. Machine vision technology remains popular in the manufacturing environment, due to its proven track record of results. However, the introduction of artificial intelligence (AI) technology and machine learning applications will transform many conventional factories. The emergence of deep learning apps creates expanded capabilities and flexibility, leading to more cost efficiency and higher production yield. Deep learning-based machine vision techniques within smart manufacturing will experience a CAGR of 20 percent between 2017 and 2023, with revenue that will reach $34 billion by 2023, according to the latest market study by ABI Research. Machine Vision Market Development  Manufacturers need to improve their production yields and workflow efficiency. Legacy machine vision is easy to implement but is somewhat limited. Current solutions that are widely deployed in quality control, safety inspection, predictive maintenance, and industr...

In the past, machine vision was limited to highlight-controlled environments, costly sensor technology, and restrictive feature detection. Today, artificial intelligence (AI) is set to change the market, creating new classes of applications and significant new opportunities. Machine vision is in the process of transition and dramatic expansion. Deep learning (DL) techniques are taking machine vision systems to next level, driving the mass adoption in several industries -- including the automotive, retail, consumer, industrial, and surveillance sectors. Machine Vision Tech Market Development DL-based machine vision marks a departure from other approaches used in the sector, which were more limited regarding their application. ABI Research now forecasts that machine vision technology will see a CAGR of 53 percent between 2018 and 2023 -- with $193.8 billion of annual revenue generated from services and hardware by the end of the forecast period. Machine Vision vendors previously ...