Top Machine Vision Players Project Business Acceleration in H2-2024

Top Machine Vision Players Project Business Acceleration in H2-2024

Our quarterly analysis of the revenue trends in Machine Vision sparks hope for a significant acceleration from sloppy revenues in the first half of 2024.

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Following a relatively stable trend in 2023, revenues experienced a significant decline in the first and especially the second quarter of 2024. Basler reported a year-over-year (YoY) decrease in its trailing twelve-month (TTM) revenue of 28.1% in Q2, while OPT Machine Vision saw a 27.8% drop. Similarly, Zebra Technologies, Stemmer Imaging, and Datalogic recorded declines ranging from 19.4% to 20.8% during the same period. In contrast, companies focusing more on vision solutions rather than components, such as Jenoptik, saw a growth of 9.4%, and Antares Vision reported a 3.5% increase.

Despite the significant slowdown in the first half of the year, revenue projections for 2024 remain relatively optimistic. Zebra Technologies is expected to achieve an annual revenue of $4.86 billion, up 6% from $4.58 billion in 2023. Cognex also forecasts an 8.5% revenue increase in 2024, despite reporting declines of 8.4% in Q1 and 5.5% in Q2. Similar trends are anticipated for the second half of 2024 across the board. For instance, Keyence is projected to have a YoY decline of just 0.5% by Q4 2024, compared to a 7.9% decline in Q2, and Basler is expected to see a decline of just 2.2%, indicating a significant recovery towards the end of the year.

Trailing 12-month revenue of the top-13 stock-listed machine vision players by quarter and the annual change of the accumulated revenues

For our Machine Vision Market Report, the revenues from machine vision components of the above players are just a few of over 120 insightful indicators we consider. Together with a network of 600 industry insiders, we provide detailed analyses of the machine vision market size and its trends by product type, region, industry, and combinations of such.
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