ANN ARBOR, MI - A new market study shows that 2005 was a good year for the machine-vision and imaging industry and that continued growth is expected in 2006. Smart cameras saw the strongest growth in 2005, with a 19.1% increase in units and a 14.4% jump in revenue. Sales of application-specific machine-vision systems rose 13.6% in units and 6.4% in revenue. Fast-growing component markets included cameras, optics, and vision software.
“Machine-vision markets in North America continue to display strength and vitality, with 2005 results building upon the record sales figures of 2004,” said Paul Kellett, AIA director of market analysis. “All indications point to continued growth in 2006, as companies continue to invest in technologies such as machine vision that can help them become stronger global competitors.”
Kellett also examines new markets that will expand machine vision beyond the factory floor, encouraging advances that otherwise might not generate sufficient interest to see the light of day. The report covers seven specific product areas, including optics, lighting, and smart cameras.
Over the past five years, smart cameras have grown fastest, achieving a compound annual growth rate of 32.2% and reaching nearly $100 million in revenues in 2005 alone. The report anticipates that the market will mature over the next five years, predicting healthy, if more modest, 11.9% CAGR to $174 million in 2010.
The study, entitled Machine Vision Markets; 2005 Results and Forecasts to 2010, is published by the Automated Imaging Association (AIA), the world’s largest machine vision trade group, with more than 250 member companies from 24 countries.
The AIA expects the industry to be helped by the upcoming Vision East trade show and conference in Boston, May 9-11, 2006.
“We expect to see strong interest at the show in new products, especially those that have been designed to meet the new GigE Vision standard that the AIA will officially release at the show,” said Jeff Burnstein, AIA executive director.
The study is available for $995 for AIA members and $1395 for non-AIA members. For more information or to order, visit www.machinevisiononline.org.