Artificial Intelligence Driving Quality Control Machine Vision Market to US$7.2 Billion by 2028
NEW YORK, Jan. 2, 2024 /PRNewswire/ -- Machine Vision (MV) Solutions for quality control in manufacturing are becoming ever more essential for manufacturers due to increased regulatory requirements, new manufacturing techniques, and crippling labor shortages. According to a new report from global technology intelligence firm ABI Research, the market is facing a period of significant evolution due to the growing presence of Artificial Intelligence (AI) solutions acting as an enabling technology, which will fuel growth in the quality control machine vision market to reach US$7.2 billion by 2028, up from US$2.3 billion in 2023.
"AI is accelerating and improving the efficiency of the MV market. It increases inspection speeds and enables the movement of quality upstream, and AI systems are more adaptable than traditional software. However, although many AI solutions can easily integrate with existing MV hardware and software, making it a low-hanging fruit for manufacturers to leverage, its lack of explainability can be challenging. Without this functionality, AI could struggle to make traction in high-regulation markets," explains James Prestwood, Industrial and Manufacturing Industry Analyst at ABI Research. "While some AI vendors are making great strides to support their software with explainability functionality, such as Neurala, it is not a standard feature on all solutions yet."
The MV ecosystem comprises a wide range of vendors, with many specializing in providing best-of-breed components, such as Neurala, Intel, Google, Landing AI, and Instrumental for AI, and Sony, Teledyne, and Nikon for cameras. Other vendors focus on providing robust end-to-end MV solutions, including Aqrose Technology, Cognex, Basler, Keyence, SICK, Omron, and Elementary Robotics.
"For most manufacturers, budget and build complexity will be the defining factor for choosing off-the-shelf solutions and build-your-own with best-of-breed component deployments. Smaller manufacturers will likely find the greatest use for off-the-shelf solutions due to their lower cost and simpler requirements," Prestwood concludes.
These findings are from ABI Research's Industrial Machine Vision Systems: Innovations, Key Players, and Differentiators Driving Quality Management Excellence report. This report is part of the company's Industrial and Manufacturing Technologies research service, which includes research, data, and ABI Insights.
About ABI Research
ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.
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SOURCE ABI Research
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