ID: MRFR/ICT/0981-CR | February 2020 | Region: Global | 90 pages
Impact of COVID-19 on the Global Machine Vision Market
Human vision is limited to a certain electromagnetic wavelength, specifically ranging from 390 to 770 nanometers (nm), which, when compared to the functionality of video cameras, differs significantly. Hence, industrial automation is rapidly gaining traction in the manufacturing as well as other related operations. Manufacturing businesses are implementing automation to increase operational efficiency in their day-to-day functions. In terms of production of goods during the pandemic where human interaction has come to a halt, machine vision technology has helped in providing consistency in production. Also, the machine vision industry is playing a vital role in fighting the coronavirus through automated lab systems that process and test vaccines, thermal imaging to detect body temperature in crowded places, inspection systems, pharmaceuticals, and medical goods. However, the pharmaceutical industry is reported to be an early adopter of this technology since it offers the assurance of product safety as well as integrity to the existing digital infrastructure.
The demand for machine vision technology is on the surge currently during the COVID-19 pandemic. However, this demand is expected to be hampered by the decrease in IT expenditure budgets which is a result of the lockdowns imposed, as well as severe losses incurred by businesses worldwide. Although, the relaxations in the lockdowns are expected to boost the demand for machine vision infrastructure and with the market recovering at a significant rate, which is mainly attributed to the remote working policy that was adopted by most companies to prevent the spread of COVID-19 at their workplaces. Furthermore, the technology providers aid and support their clients’ operations with their expertise in remote engineering services to ensure the clients’ business continuity. These businesses belong to various sectors such as textiles, agriculture, pharmaceuticals, and other mass-production industries, which require quality assurance. Hence, the demand for machine vision technology and its related infrastructure is expected to grow due to the increasing adoption of digital assurance mechanisms that deliver higher accuracy and operational efficiency as compared to human beings.