MATELAN Research - ISRA VISION AG

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ISRA VISION In-Depth Report Positive impetus from traditional industries and new applications Emerging countries on the move, America to increase level of automation, Germany with strong economic development Products becoming more powerful at lower prices European machine vision market expected to show 20% growth in 2011 - 18 - NUMEROUS DRIVERS OF FUTURE GROWTH In total, the remarkable upswing in the automotive industry with a sharp rise of demand in Asian countries, together with industries resilient to economic fluctuations such as the pharma industry should ensure that the traditional customer industries will remain the backbone of vision technology companies in Europe. Moreover, turnover in the non-manufacturing sectors, such as life science, security, medical equipment, entertainment and traffic, should gather speed again. Above all, Chinese manufacturers are increasingly automating their production as demands for quality are rising in not only their export but also the domestic markets. Car manufacturers in China are considerably expanding their capacities. Other industries follow suit. Other Asian markets such as South Korea, Thailand and Malaysia offer potential for increases in turnover. The level of automation is rather low in growth regions such as Brazil. Also the American market still has a low level of automation and needs to improve productivity. In Europe, growth should be driven by the Central and Eastern European countries. Though Germany ranks second in terms of automation after Japan, the positive economic situation of the country should drive growth here. These developments are supported by the fact that products are getting cheaper, more standardized, easier to use and more powerful. The latter involves a continuous improvement of all vision systems components. Computer-related developments that have particularly increased the performance and applicability of machine vision systems are faster processors and bus speeds, as well as the miniaturization of chips. Camera-related developments include a trend toward increasing resolutions and the introduction of faster sensor frame rates. Connection-related developments have led to faster, digital interfaces, which are able to manage the higher bandwidth signals generated by faster sensor frame rates and greater resolution. Software-related developments are new or improved algorithms and easier to use interfaces. The latter has particularly increased the acceptance of machine vision systems on the factory floor. The impact of the technological progress is two-fold: first, the efficiency of vision systems is increasing continuously; making their use even more profitable for end users and second, new fields of application are opening up. Against this background, the EMVA expects the machine vision industry to grow by 20% in 2011. In contrast to 2010, Europe is expected to show the highest growth rate with 22%. The Americas should come to 19% and Asia, mainly driven by China to 18%. The German industry association expects an increase of 11% for its members, however, in view of recent trading this appears to be more than conservative. The year 2012 should then show a more normalised rate. As a result of the late cyclical nature of the industry, some slowdown of economic growth expected for 2012 should rather be felt in subsequent years.
ISRA VISION In-Depth Report Further consolidation likely to be an additional source of growth - 19 - Outlook for the MV market by region 70% 60% 50% 40% 30% 20% 10% 0% -10% -20% -30% Source: EMVA Europe An additional source of growth is the hugely fragmented market structure. The following chart shows that almost half of the surveyed companies have only between 1 and 10 employees. Only 4% of the companies have more than 100 employees. This leaves ample room for further consolidation, which should take place for three reasons: (1) end users of machine vision tend to be global manufacturers which prefer companies that can service them in different countries, (2) price pressure in the industry is particularly hard for smaller companies with less bargaining power and (3) the substitution of less complicated machine vision application-specific vision systems by ‘off the shelf’ solutions should particularly hit smaller providers with a limited number of products on offer. Larger players should thus profit from the continued consolidation of the market. European machine vision companies by size 18% Source: EMVA, no of employees America Asia Other 2009 2010 2011E 20% 9% 4% 49% 1-10 11-20 21-50 51-100 101-500 Total
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MATELAN Research - ISRA VISION AG

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