Observers of the machine vision market in Europe had little to cheer about
in 2023, with the industry yielding a 7% decrease in sales. The chip shortage from several years ago prompted many companies to amass stocks of
components, which, in turn, lessened the need for component purchases for the manufacture of vision systems. This, coupled with higher interest rates, reduced capital equipment investments.
Last year was an anomaly. The prior decade had seen an average of 9% revenue growth per year, according to the Machinery and Equipment Manufacturers Association (VDMA). In 2020, during the COVID-19 pandemic, a truly “black swan” event occurred — the industry saw a 4% decline. But outside of this, it’s been a decade
of continuous growth, with 2021 and 2022 seeing a sharp rebound of 17% and 11% rise in sales, respectively.
Now, in 2024, the news is mixed. The VDMA is anticipating a continued downturn of a 3% decline in sales for the current year.
VDMA’s chairman, Mark Williamson, told Vision Spectra that the associations continue to predict a recovery in the fourth quarter, maintaining the same projections that were initially released in April.
“The recovery starts in Q4,” Williamson said. “Interest rates will drop and investments will return, and stockpiles will be further reduced.”
“Machine vision is a key technology in automation and hence it will recover and
is expected to continue at historic growth rates,” he added. “The machine vision
systems business is already projecting a strengthening order book for 2024, which will feed the recovery later in the year.”
The recovery is anticipated to coincide with VISION 2024 in Stuttgart, the world’s largest biannual conference. Here’s to the much-anticipated rebound and a return to form in Q4!
But before that, be sure to tune in to this year’s Vision Spectra Conference, taking place July 16 to 18. It’s our largest to date, featuring several prominent first-time presenters. Turn to page 44 for more details.
Enjoy the issue!
