MATELAN Research - ISRA VISION AG

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ISRA VISION In-Depth Report MARKET STRUCTURE & DEVELOPMENTS Key component of automation processes and beyond Combining different components to an entire system Market coming back to double-digit growth rates again - 10 - Machine vision is an interdisciplinary technology that combines in particular lighting, optics, electronics, information technology, software and automation technology in order to improve industrial but also non-industrial processes. The main objective is to capture pictures within a production process and analyse them according to previously defined patterns. This encompasses the guidance of movements for robots or automated vehicles (robot vision), controlling production processes e.g. for fast moving materials (surface vision) or check for completeness (quality vision), and allows the machines to work faster, in a more precise way and without human intervention. Apart from these industrial applications, fields such as monitoring areas for security purposes, controlling traffic flows or driver assistance systems are of increasing importance. The main components for a standard machine vision system are (1) lighting, that ensures that the images captured by the cameras are optimal for the subsequent analysis, (2) cameras that capture the images, (3) cables and interfaces that bring the information to the computer and (4) the computer, which does the final processing. In addition to these hardware components, a software steering the processes is needed. Apart from such modular systems, vision systems can be more compact, i.e. in the form of cameras that have integrated processing and illumination. Machine vision has become a core tool for further improving automation processes in the industry and other areas of society and daily life. The market has thus experienced strong growth since its break-through in the early 80s. New applications in areas such as safety and security, life sciences, entertainment, criminology, medical engineering are now likely to drive growth further in the years to come. The following chart show that the German machine vision market, one of the largest in the world and for which a fair history has been recorded, has experienced an average growth rate of 8.4% over the past ten years. While the first half of the decade showed consistently sound double-digit growth rates, growth had slipped to single digit in the second half. Moreover, it shows that the financial and economic crisis in 2009 has had a severe impact on the German machine vision industry, driving down sales by 21%. The year 2010 brought, however, a tremendous recovery, coming in even ahead of the previous peak year 2008. Though growth in 2011 will not match the exceptional rate seen in 2010, it is still expected to continue at a double-digit rate.
ISRA VISION In-Depth Report Economic recovery has driven the machine vision market Asian markets lead global economic recovery, Germany shines in Europe - 11 - Growth of the German machine vision market 1600 1400 1200 1000 800 600 400 200 0 2000 2001 Source: VDMA, EURm 2002 2003 2004 2005 -10% -20% -30% REGIONAL MACROECONOMIC TRENDS STIMULATE MARKET The machine vision market tends to follow economic cycles as it is mainly driven by capital expenditure of the users of this technology. These tend to expand their capacities in good times but reduce their capital expenditure when it is getting harder. Looking at the global economy, we find a stronger than expected recovery in 2010 from the financial and economic crisis a year earlier. This has had a very positive impact on the European machine vision landscape, as we had already illustrated for the case of Germany. GDP growth in key regions 2008 2009 2010 2011E 2012E Germany 1.0% -4.7% 3.6% 3.5% 1.8% France -0.2% -2.6% 1.4% 2.2% 1.4% Italy -1.3% -5.2% 1.2% 0.8% 1.1% UK -0.1% -4.9% 1.3% 1.1% 1.4% EU 0.7% -3.9% 1.7% 1.8% 1.5% USA 0.0% -2.6% 2.9% 1.5% 1.5% Japan -1.2% -6.3% 4.0% -0.8% 2.7% Brazil 5.2% -0.7% 7.5% 3.9% 3.5% Russia 5.2% -7.8% 4.0% 4.4% 3.5% India 4.9% 9.1% 8.8% 8.0% 8.0% China 9.6% 9.2% 10.3% 9.0% 8.0% World 2.7% -0.7% 4.9% 3.7% 3.5% Source: WestLB as of 28/08/2011 The global economic recovery in 2010 has been driven predominantly by Asian and other emerging countries, in particular China and India. China grew by 10.3% mainly on the back of domestic economic activity, with strong investments in the construction and real estate market. India grew at a rate of 8.8%, mainly driven by private consumption. Due to the higher base, the year 2011 should see as slower but still solid growth in global GDP and the emerging markets are expected to continue underpinning global growth, with China and India still showing high single digit growth rates. Within Europe, Germany follows-up on its leading role, in particular on the base of its strong exports. France is gaining speed in 2011 after a rather moderate development 2006 2007 2008 2009 Total Sales Growth (r.s.) 2010 2011E 50% 40% 30% 20% 10% 0%
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