Market and Technology Trends
Imaging for Industrial - Machine Vision 2024
By Yole Intelligence —
Machine Vision generated $6.9B in revenue in 2023 and is now dealing with a downturn, while competition is rising from China
YINTR24399
Report’s objectives
Scope of the report
Methodologies & definition
Identity card
About the authors
Companies cited
What we got right, what we got wrong
Three-page summary
Executive summary
Introduction
Market forecast
- Industrial machine vision
- Government and commercial security cameras
- Non-visible industrial imaging
- Synthesis
Market trends
- Manufacturing industry
- Semiconductor, Electronics & Automotive
- Pharma – Food & Beverage
- Logistics and shipping
- Primary industry – Agriculture
- Security
- Mobility
- Synthesis
Market shares & supply chain
- Industrial machine vision cameras and systems
- Focus on Chinese ecosystem
- Supply chain of critical components: CIS and optics
- Cost estimate associated to CMOS Image Sensors in Industrial Machine Vision
- Other segments: Security, Robotic mobility
- Cameras for robotic mobility
- Spectral diversification
- Synthesis
Technology trends
- Camera characteristics
- Other modalities
- 3D imaging
- Multispectral / Hyperspectral imaging
- High-speed, event-based imaging, Artificial Intelligence
- Synthesis
Outlook
Yole Group related products
About Yole Group
Navigating through a brief setback
The overall dynamics of the market were characterized by strong years in 2021 and 2022, driven by the resurgence of consumer goods production after the COVID-19 crisis and stockpiling by machine vision customers. The market decreased in 2023, at $6.9B, impacted by the global economic downturn. Growth will gradually recover from 2025, driven by long-term positive trends caused by a continuous workforce shortage in the industry and increasing operating costs. The market is expected to grow to $7.8B in 2029, registering a 2.1% CAGR2023-2029. Customer demand is shifting to more turnkey and user-friendly solutions. Non-visible modalities such as short-wave infrared are gaining traction in battery and semiconductor inspection.
Chinese ecosystem growing
The industrial machine vision landscape has undergone notable transformations, marked by the remarkable ascent of Chinese camera manufacturers Hikrobot and Huaray. These companies have now secured leading positions alongside longstanding players such as Basler, Teledyne, and Allied Vision. From 2020 to 2022, they experienced substantial growth, ranging from 40% to 50% year-over-year, driven by a resurgence in consumer electronics consumption and significant investments in car electrification. With growth momentum slowing down in 2023 (~15% YoY), these companies are increasing their footprint out of China, leveraging significant price advantage. To not hinder their growth, we expect these players to be spun out from their mother companies, Hikvision and Dahua, respectively, the two leaders in security, and both on the U.S Entity List.
Temporary slowdown in camera hardware innovation
Innovation is decelerating in camera hardware. Dealing with challenging market conditions and new customer needs, camera manufacturers are focusing on software development and AI. Most machine vision cameras now settle in the 1 – 5 megapixels range, employing a 65 nm node CMOS image sensor technology platform and back-side Illuminated architecture.
Newer technologies are being more widely adopted. 3D imaging is now essential in robotics. Recent product releases from Sony have made SWIR and UV technologies more accessible. Event-based imaging could help process data more efficiently in the long term.
ABB, Adasky, Adimec, ADM, AImotive, Aisin, AIT, Alibaba, Allied vision, amazon, AMD, ams OSRAM, apollo, Apple, Aptiv, Argo, Artilux, asphericon, Assa Abloy, Audi, Aurora, Automation technology, autox, avigilon, Axis, Baidu, Banner, Basler, Baumer, BMW, Bopixel, Bosch, Bozhon Japan, Brillnics, Canon, Cariad, CATL, Chicony, Chughwa, CipherLab, clearview, Cognex, computar, Continental, CP Plus, Crevis, cruise, Crylight , Daheng Imaging, Dahua, Dali, Datalogic, Dectris, Deeproute, Denso, Desay, Detection Technology, DHL, DiDi, dji, Dzofilm, ebay, Edmund optics, Emberion, Fanuc, FedEx, Fujifilm, Galaxycore, Genetec, Ghopto, GM, Gpixel, Great Lakes, Gstir, Hamamatsu, Hanwha, Hikrobot, HNA, Honeywell, Huaray, Huawei, i3system, Idemia, Idis, iDS, ifm, imagerlabs, Imago , imasenic, inelbras, Infiray, Integro, iRayple, JADAK , JAI, JD.com, Jingwei Hiran, Johnson & Johnson, Johnson Controls, Kedacom, Keyence, Kowa, KUKA, Kyocera, LASE, LG Innotek, LMI Tehcnologies , Lucid, Luxima, Mcnex, Mech mind, Megvii, Meituan, Mercedes, Merck, Mikrosens, Mindeo, Mindvision, Mirco-epsilon, mobileye , Moia, moovit, Motional, Motorola, Navitar, Nestle, Newland, Next vision, Nice, Nikon, nit, Nvidia, NXP, Ofilm, Omnivision, Omron, onsemi, openpath, OPT machine vision, Opto engineering, Orbbec, otto group, Owl ai, Panasonic, Pelco, Pepsico, Pfizer, Philips, photon focus, Photoneo, Photonis, Pickit 3D, PixelPlus, Pomeas, pony, Princeton, ProPhotonics, pyxalis, Qcraft, Rakuten, Rayence, Ricoh, Rockchip, Rockwell automation, SAIC, Samsung, Schneider, Seek, Sekonix, Semiconductor Devices, Sensors Unlimited, Sharp, Sick, Siemens, SigmaStar, Sixt, Smartray, SmartSens, smartvisionlights, Solomon, Sony, Specim , S-Pro, SSZN, ST Microelectronics, Stemmer Imaging, Sunex, Sunny optical, SWIR Vision systems, Tamron, Techvico, Teledyne, Terabee, Tesla, Tiandy, TKH group, Toshiba, Toyota, Trieye, Trinamix, Ttsmc, tyco, Uber, unitech, uniview, ups, Valeo, Varex, veoneer, Verkada, vieworks, Vivotek, voyage, wayfair, Waymo, Wenglor, WeRide, Xenics, Xilinx, Ximea, Xinfoo, Yandex, Zebex, Zebra, Zivid, ZongMu, Zoox,and much more…
Product Objectives
- Provide market data on key industrial imaging metrics and dynamics
- Industrial imaging forecasts by revenue, shipments, and components
- Market shares, with detailed breakdown by player and components
- Application focus on key growth areas industrial cameras
- Deliver an in-depth understanding of the industrial imaging value chain, infrastructure, and players.
- Who are the players (CIS manufacturers, camera manufacturers, etc.), and how they are related?
- Who are the key suppliers to watch – and more generally, how will the industrial imaging ecosystem evolve?
- Present key technical insight and analysis regarding future technology trends and challenges
- Overview of the technological landscape and dynamics of technology adoption
- Technology focus on game-changing areas and emerging technologies.
Key Features
- 2019-2029 forecast for machine vision cameras (Munits, $M)
- Market forecasts for different visible machine vision cameras and barcode scanners.
- Market forecast for non-visible machine vision cameras
- Market trends and in-depth analysis of the different drivers for machine vision.
- Players market share by camera type
- Noteworthy news from the last years
- Player's strategy analysis through the latest M&A.
- Technology trends, visible, non-visible, 3D imaging, computing.
What’s new?
- Updated 2019-2029 market forecasts and market shares.
- Deeper ecosystem evaluation, with a focus on China.
- In-depth applications and end-market analysis.