A newly released report expects the market for select industrial automation systems to climb significantly in coming years as more and more companies embrace new technologies.
The analysis from VDC Research indicates that the machine vision segment will grow from more than $6 billion in 2017 to $10 billion by 2023. The market for industrial scanning solutions, meanwhile, is expected to increase from nearly $600 million to just shy of $900 million over that span.
In addition to helping manufacturers minimize defects, bolster production, and reduce costs, analysts said automation systems offer significant advantages for quality control, track and trace, and e-commerce capabilities.
“Machine vision systems are increasingly being integrated throughout the entire production line, rather than only at the end to inspect the finished good,” VDC analyst Andy Adelson said in a statement.
VDC researchers expect the market to experience increased consolidation and acquisition activity due to both the growth and the fragmentation of the machine learning segment.
The industrial barcode scanner market, meanwhile, should increase as their sophistication grows and their prices decline. Camera-based image scanners, the report noted, now account for nearly three-quarters of the segment’s overall revenue as they gradually replace laser scanners.