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By Shachi Service provider, Vice President, Index Specialist, ROBO International
Supply: Cognex
About Cognex
Cognex (NASDAQ: CGNX) is a ROBO index member in our Computing and AI subsector and at present holds a 1.53% weight (as of shut 1/22/22). Cognex is a producing firm that makes use of its proprietary machine imaginative and prescient know-how to seize and analyze visible data and automate manufacturing processes for its clients. Cognex designs, develops, and manufactures machine imaginative and prescient techniques, software program, and sensors which might be used to establish defects, detect components, and carry out varied different duties for product meeting.
Cognex helps its clients enhance product high quality, scale back manufacturing prices, and decrease manufacturing prices whereas producing prime quality merchandise. Early on, Cognex turned the main provider of machine imaginative and prescient applied sciences to semiconductor and client electronics firms like Apple and Unilever. The corporate was instrumental in Apple’s automated inspection of its smartphone meeting. Different notable clients embody Amazon and BMW.
Extra just lately, Cognex is continuous to analyze new methods to enhance the efficiency of commercial machine imaginative and prescient techniques and, by way of R&D, keep themselves as a frontrunner in machine imaginative and prescient, with over 1,000 patents. Current cutting-edge improvements embody their 2D & 3D scanners, Edge Intelligence (EI) software program, and deep studying primarily based on industrial picture evaluation.
Why Machine Imaginative and prescient?
Machine imaginative and prescient is vital the place a human’s imaginative and prescient is insufficient to satisfy duties associated to accuracy or pace. Machine imaginative and prescient dramatically lowers the price of manufacturing by decreasing the quantity of labor wanted. It’s crucial for retailers in all industries to make use of machine imaginative and prescient to higher enhance efficiency and decrease manufacturing price. Moreover, the necessity for robotic-guided imaginative and prescient techniques has gained traction throughout industries similar to automotive, meals and beverage, pharmaceutical/medical, semiconductor, and all packaging segments. With the rising variety of retailers transferring manufacturing on-line, every would require massive manufacturing facility operations to spice up large-scale adoption. That, mixed with robust expectations that offer chain constraints will ease in 2022, ought to current a large alternative for machine imaginative and prescient applied sciences, putting Cognex in a optimistic place for the long run. Moreover, if and when provide chain points resolve, Cognex might profit from the anticipated ramp-up in manufacturing in client electronics and automotive. As a result of these components, we consider Cognex will revenue from macro circumstances particularly with rising labor shortages and value calls for including gasoline for added investments in automation and machine imaginative and prescient. Cognex is and can proceed to be a rising know-how chief within the robotic guided imaginative and prescient techniques house.
Macro Outlook
Based on a 2020 report printed by McKinsey, 31% of companies have absolutely automated at the very least one enterprise course of. In 2021, we (ROBO International Analysis) noticed large demand for merchandise surrounding the automation of producing & industrial and logistics. (Sub-Sectors in ROBO’s Index: Manufacturing & Industrial 16% & Logistics Automation 13%) Nonetheless, many of those industrial automation firms weren’t in a position to sustain with demand resulting from provide constraints. Because of this, industrial and logistics automation shares really didn’t carry out that effectively in 2021, however importantly, this seems to be as a result of firms have been considerably underreporting the precise state of demand. Machine imaginative and prescient is simply one of many many options concerned in serving to pave the way in which for elevated and extra correct productiveness in industrial manufacturing.
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