On the surface, the machine vision industry can seem intimidating. Though it is complex and perhaps more obscure than other industrial sectors, machine vision is an integral component of product analysis, inspection, and sorting. Equipped with cameras, machines can photograph and analyse images to measure and identify key characteristics. Working faster and more objectively than the human eye, machine vision has revolutionised quality assurance, making the process more efficient and reliable.
The importance of investing in and expanding this industry is clear; that’s why Business Beyond Borders (BBB) will dedicate its final Business to Business (B2B), Cluster to Cluster (C2C) and Business to Cluster (B2C) matchmaking event at VISION (Stuttgart, Germany) to the machine vision sector.
Ahead of the event, we’ve compiled a list of facts you should know about the machine vision sector:
- The market was valued at $7.91 Billion in 2017. 
With an increasing demand for the integration of artificial intelligence into machinery, machine vision has taken on a key role in companies’ quality assurance process. The sector is expected to continue its growth and hit a predicted value of $12.29 Billion by 2023 – a sector worth investing in!
- Germany and the USA have the largest machine vision markets.
In 2016, the countries each held more than 30% of shares in the global machine vision sector. All the more reason to come to Stuttgart and explore the endless possibilities provided by the BBB matchmaking meetings at VISION!
- Almost 60% of the demand for machine vision technology comes from the semiconductor & electronic manufacturing and automobile sectors.
Just one production line in the automobile industry requires several machine vision systems, making the demand in this sector especially high.
- Over half of the global machine vision market’s revenue comes from quality assurance and inspection systems.
Machine vision is especially useful for assessing product qualities and characteristics, as the cameras work faster, more objectively, and more reliably than the human eye. This means machine vision is applicable to almost any industrial sector, increasing market value and growth.
- The market is expected to grow at a Compound Annual Growth Rate (CAGR) of almost 9%.
Increasing demand for and investment in these systems means that the industry has a long life ahead of it.
- Machine vision is expected to play an increasingly important role in the Internet of Things.
Machine vision systems’ ability to identify, assess, and respond to visual information makes it a key player in the development of autonomous machinery. This means that the systems can be used to develop and improve things like intelligent traffic systems, autonomous vehicles, and even Unmanned Aerial Vehicles.
Do not miss the chance to participate in the final Business Beyond Borders matchmaking event, taking place in November 6-8 at VISION 2018 in Stuttgart, Germany. Register here – https://vision2018.b2match.io