The industry is developing rapidly and the demand is increasing. The purpose of machine vision can be divided into positioning, recognition, guidance, measurement and inspection. Among them, positioning is the most challenging use of machine vision. With the release of a number of national policies and plans to vigorously promote the field of intelligent manufacturing, the machine vision industry will benefit. At the same time, the state is formulating a number of machine vision industry standards to standardize and improve the requirements for the machine vision industry. After 20 years of development, China's machine vision industry is in a stage of rapid development. In the context of the transformation of many industries to intelligence and automation, the demand for machine vision will continue to increase.
Focus on the subdivided field of upstream parts, and the downstream application scenarios are diverse. The cost of upstream parts of machine vision is relatively high, which is the most important part of machine vision. The upstream hardware includes light source, lens, industrial camera, image processor and image acquisition card; The software includes image processing software and underlying algorithm. At present, China's upstream parts manufacturers occupy the low-end market with price advantages, while high-end products still rely on imports. Machine vision is widely used downstream, including semiconductor, automobile, packaging, medicine, industry Siasun Robot&Automation Co.Ltd(300024) and other industries. In 2019, the market scale of machine vision in the field of consumer electronics and semiconductors will be close to 3 billion yuan. The main reason is that the demand for consumer electronics is large and the replacement speed is fast, which will drive the demand for machine vision. The trend of machine vision replacing human eyes has gradually penetrated into the automotive industry in recent years. In 2019, the market scale of machine vision in the automotive field exceeded 1 billion yuan, with a year-on-year increase of about 35%.
Foreign enterprises are far ahead, and Chinese enterprises are gradually rising. Founded in 1974, Kearns is an international integrated supplier of sensors, measurement systems, laser printers, Microsystems and stand-alone imaging systems, constantly promoting the innovation and development of factory automation. Opt Machine Vision Tech Co.Ltd(688686) is a national high-tech enterprise mainly engaged in the R & D, production and sales of core software and hardware products of machine vision. It is one of the earliest enterprises in the field of machine vision in China. Jutze Intelligent Technology Co.Ltd(300802) adheres to the core competitiveness of technology research and development and product performance. Its main products include machine vision equipment, control cable components, control units and equipment. At present, Kearns still has obvious competitive advantages, and Opt Machine Vision Tech Co.Ltd(688686) and Jutze Intelligent Technology Co.Ltd(300802) still have a distance to catch up. However, with the continuous improvement of independent R & D technology and continuous strengthening of core competitiveness of Chinese enterprises, it is expected to surpass overseas leading enterprises in the future.
Investment suggestion: with the support of national policies and planning, the utilization rate of machine vision industry in the subdivided field of intelligent manufacturing has been improved by adding factors such as the deepening of population aging and the increase of labor cost. Compared with human eyes, machine vision has obvious advantages. With the continuous development of intelligent manufacturing, the transformation of manufacturing industry to automatic production is an inevitable trend. The machine vision industry will benefit and drive the demand for machine vision products. It is recommended to pay attention to Opt Machine Vision Tech Co.Ltd(688686) (688686) and Jutze Intelligent Technology Co.Ltd(300802) (300802).
Risk warning: macroeconomic downturn risk; The development of downstream industries is less than expected, and there is a downside risk to the demand of the industry; Market competition intensifies risks.
