By Gabby Chen

(JW Insights) Apr 11 -- China's machine vision market is expected to hit RMB56.565 billion ($8.21 billion) by 2027, according to a newly released report by Gaogong Industrial Institute (GGII 高工产研), a Shenzhen-based market consultancy.

The report also forecasts that the 2D machine vision market will value at RMB40.715 billion ($5.91 billion), while the figure in 3D will achieve RMB15.85 billion ($2.3 billion).

Machine vision consists of imaging and visual analysis, which include lighting controller, lens, camera, as well as specific technologies such as visual algorithms, deep learning, and graphical programming, among others.

The growth of consumer electronics, semiconductor, and intelligent automobile industries is driving the upgrading of machine vision technologies, creating new demands for the industry.

Despite this growth, the overall penetration rate of machine vision in industrial scenarios in China remains below 10%, revealing substantial growth potential for the industry.

The GGII report shows that machine vision was most widely applied in the 3C (computer, communication and consumer electronics) industry in 2022, accounting for 25% of the total market share. The 3C industry has maintained its leading position for several years, followed by the automobile, semiconductor, and lithium battery sectors.

While the consumer market is currently in recovery, the growth rate in the 3C electronics industry declined last year. So future growth is expected to come from the new energy vehicle, lithium battery, and semiconductor industries.

In 2021, the machine vision industry market size in China exceeded RMB15 billion ($2.18 billion). It is expected to maintain a growth rate of around 30% for several years in the future, according to data from the China Machine Vision Industry Union, a Beijing-based nonprofit organization. By 2023, the market will reach RMB30 billion ($4.36 billion), it added.

In the next decade, China's machine vision industry is likely to usher in a golden period of large-scale development, said the GGII report.