Machine vision leader Cognex (NASDAQ: CGNX), industrial software company PTC (NASDAQ: PTC), and engineering simulation and design software company ANSYS (NASDAQ: ANSS) are companies in a hurry. All three are leaders in high-growth industries that have seen interest in their solutions increase as a result of the COVID-19 pandemic. Consequently, investors have every reason to believe their growth could accelerate in the coming years. Here’s why.
Cognex’s machine vision solutions make it a major beneficiary of the trend toward automation in manufacturing and logistics. Using machine vision is a lot more accurate and cost effective than using humans to perform the same task. In a nutshell, digital sensors are placed in cameras in order to capture images that are then analyzed to guide, monitor, and control automated processes.