Over the years, there has been a great increase in the demand for smart cameras. Thus, the global smart camera market is projected to witness an increase between 2017 and 2024 with a projected CAGR rate of 18.2%, hitting a staggering $6.2 billion.
There are many machine vision software products on the market already and some are open source and free to use, so why should customers select Innomiles?
While there are several main factors in the expected long-term growth of the global machine vision market, there are a few trends to keep an eye on now that are changing the way machine vision technology is deployed.
In 2017, according to a recent report, the global machine vision market was valued at $7.91 billion1. By 2023, the global market is expected to reach $12.29 billion – a compound annual growth rate (CAGR) of 7.61%.
Machine vision is the technology and methods used to provide imaging-based automatic inspection and analysis for applications such as automatic inspection, process control, and robot guidance, usually in the manufacturing industry.