AI / ML
The global machine vision market size was valued at US $ 13.23bn in 2021 and is expected to expand at a compound annual growth rate of 7.7 % from 2022 to 2030 . The increasing demand for quality inspection and automation in different industrial verticals is likely to continue driving the market . Additionally , the need for vision-guided robotic systems across the automotive , food and beverage , pharmaceutical and chemical , and packaging segments is expected to fuel the market growth .
“ IoT brought us the data and the continuous improvement of computing hardware , while algorithms gave us computing power . Add to that the affordability to deploy it essentially everywhere , then it ’ s enabling fundamental changes in how we work ,” he adds .
On top of this improved affordability , machine vision often utilises deep learning technology to elevate it further . The pair go hand in hand : when you add deep learning algorithms , it gives robotics intelligent vision , bestowing them with the ability to recognise objects , thus taking robotics to a new level of efficiency .
“ Machine vision is one of several areas where deep learning models not only outperform other machine learning approaches , but are able to achieve accuracy comparable to humans ,” notes Prashant Natarajan , Vice President of Strategy and Products at H2O . ai . aimagazine . com 43