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Comparison of machine vision companies: Japan Keyence VS China Tianzhun Technology

 Last Update: 2021-09-12
 Source: Internet
 Author: User

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[ Star Enterprise of Chemical Machinery Equipment Network ] Major listed companies in the machine vision industry : At present, the listed companies in the domestic machine vision industry mainly include Tianzhun Technology (688003), Meiya Optoelectronics (002690), Jingce Electronics (300567), Saiteng (603283) ), the moment the sub Technology (300,802), the pilot intelligent (300450), Kang Hongzhi energy (839 416), JT shares (300400) and so on
.

Chemical machinery equipment network star enterprise chemical machinery equipment machine vision industry major listed companies:

The core data of this article: machine vision product layout, machine vision business revenue, scale and proportion of research and development expenses

The core data of this article:

1.
Comparison of development history: Japanese Keyence started early

Keyence is the leading machine vision company in Japan, and Tianzhun Technology is the leading machine vision company in China
.

Keyence was established in 1974, and in 2016 it has already carried out business in 220 bases in 46 countries/regions around the world
.
With the rapid development of industrial automation, Keyence, as the main supplier of sensors and measuring instruments, is constantly developing and manufacturing newer and more reliable products to meet the needs of various manufacturing industries
.

sensor

Compared with Keyence, Tianzhun Technology started late
.
Tianzhun Technology was established in 2005 and was officially listed on the Science and Technology Innovation Board in 2019
.
Tianzhun Technology focuses on serving customers in the industrial field.
After more than ten years of accumulation, it has become the leader in the field of industrial vision equipment in China, and its product technical indicators have reached overseas levels
.

　　2.
Layout comparison: Keyence product layout is more comprehensive and overseas market expansion is greater

　　——Machine vision product layout: Keyence product layout of the entire industry chain

　　In terms of the layout of machine vision products, Keyence of Japan now has the industry chain advantages of providing solutions and supporting light sources, lenses, cameras and other software and hardware.
The entire system has high stability and reliability
.

　　The main products of Tianzhun Technology are industrial vision equipment.
For products with special design requirements for some of the core components such as machine vision lenses, machine vision cameras, and laser sensors, the company entrusts suppliers to customize production by providing design parameters
.
In comparison, Keyence's products are more adaptable to customer needs, and the industrial chain layout is more comprehensive
.

　　——Sales network layout: Keyence's overseas market expansion is greater

　　In terms of the sales network layout, Keyence’s business has spread all over the world.
In fiscal 2021, Keyence’s revenue in Japan accounted for less than 45%.
Both Keyence and the United States are Keyence's key sales networks, accounting for 16% and 14% of revenue respectively
.
In the sales network of Tianzhun Technology, China's domestic market accounted for more than 55%, and the revenue from overseas regions accounted for about 44%.
Compared with Keyence, the overseas market expansion of the machine vision business of Tianzhun Technology is smaller
.

　　Note: The fiscal year of Keyence in Japan is from March 21 of the previous year to March 20 of that year, that is, the fiscal year of 2021 is from March 21, 2020 to March 20, 2021
.

　　3.
Comparison of business models: Keyence's direct sales model generates higher profits

　　In terms of business model, Keyence insists on adopting the direct sales model for sales.
By establishing a two-way information flow with customers, it can better understand the potential needs of customers and establish product advantages.
At the same time, "direct sales + outsourcing production" reduces fixed asset investment and Distributors’ profit yields high profits
.
However, Tianzhun Technology focuses on direct sales, supplemented by distribution, with relatively low returns and a relatively low level of understanding of customer needs
.

　　4.
Comparison of R&D investment: Keyence's R&D expenses are large, but Tianzhun Technology’s R&D investment accounts for a high proportion

　　Machine vision is an important branch of artificial intelligence, and investment in technology research and development is critical to the development of machine vision companies
.
From the perspective of R&D investment, Japan Keyence's R&D expenses are large, 6-10 times that of Tianzhun Technology; however, Tianzhun Technology’s R&D investment accounts for a larger proportion of operating income, and it is continuously increasing R&D investment
.
Tianzhun Technology's emphasis on technology research and development is conducive to enhancing its competitiveness in the machine vision industry, and will continue to narrow the gap between it and Keyence
.

　　Note: The fiscal year of Keyence in Japan is from March 21 of the previous year to March 20 of that year, that is, the fiscal year of 2021 is from March 21, 2020 to March 20, 2021
.

　　5.
Performance comparison: Tianzhun Technology has gradually narrowed the revenue gap, but the profit level is still far from Keyence

　　-Machine vision business revenue: Keyence is more than 30 times that of Tianzhun Technology, but Tianzhun Technology is gradually narrowing the gap

　　In terms of revenue, in fiscal 2021, Keyence's machine vision business revenue was roughly 48.
43 trillion yen, totaling 29.
059 billion yuan, a year-on-year decrease of 2.
48%; in 2020, Tianzhun Technology’s machine vision business revenue was 964 million yuan, A year-on-year increase of 78.
17%
.
From the perspective of revenue scale, Keyence's machine vision business revenue scale has reached more than 30 times that of Tianzhun Technology's machine vision revenue
.
However, from the perspective of revenue growth trends, Tianzhun Technology’s revenue is growing rapidly, while Keyence is showing a downward trend, and Tianzhun Technology is gradually narrowing the gap with Keyence
.

　　Note: 1) The exchange rate is converted according to 1JPY=0.
06CNY; 2) The fiscal year of Keyence in Japan is from March 21 of the previous year to March 20 of the year, that is, the fiscal year of 2021 is from March 21, 2020 to 2021.
March 20; 3) Japan Keyence's annual report stated that single business accounted for more than 90%, so it did not disclose the revenue of each business in detail.
The chart data is calculated from 90% of the total revenue
.

　　——Gross profit margin of machine vision business: Keyence's profitability is much higher than that of Tianzhun Technology

　　From the perspective of the gross profit margin of the machine vision business, in the 2018-2021 fiscal year, Keyence's gross profit margin fluctuates around 80%; from 2017 to 2020, the gross profit margin of Tianzhun Technology fluctuates between 40% and 50%, and always Lower than Keyence's gross profit margin level
.
As one of the international machine vision giants, Keyence's machine vision business profitability is much higher than that of Tianzhun Technology
.

　　Note: The fiscal year of KEYENCE in Japan is from March 21 of the previous year to March 20 of that year, that is, the fiscal year of 2021 is from March 21, 2020 to March 20, 2021
.

　　6.
Market share comparison: Keyence has a high global market share, while Tianzhun Technology's market share in China is still low

　　In terms of market share, KEYENCE has obvious advantages in the industrial chain and abundant customer resources
.
It provides services to more than 300,000 customers in approximately 110 countries or regions around the world, and has set up more than 230 offices in 46 countries and regions
.
The international market of the machine vision industry has been dominated by a few well-known international manufacturers for a long time.
Among them, the two giants of Japan Keyence and the US Cognex account for about half of the global market share, and the global market share of Japan Keyence is very high
.
Although Tianzhun Technology is the leader of Chinese machine vision companies, its market share in China's machine vision market is only about 12%.
At the same time, Tianzhun Technology's market share in the global market remains to be explored
.

　　7.
Japan Keyence VS China Tianzhun Technology Comparison Summary

　　On the whole, Keyence of Japan is in an absolute leading position over China's Tianzhun Technology, and Tianzhun Technology still needs to be tapped in the machine vision market
.

　　The above data refers to the "China Machine Vision Industry Development Prospects and Investment Forecast Analysis Report" by the Qianzhan Industry Research Institute.
At the same time, the Qianzhan Industry Research Institute also provides industrial big data, industrial research, industrial chain consulting, industrial maps, industrial planning, park planning, and industrial investment promotion.
Solutions such as investment attraction, IPO fundraising feasibility study, and prospectus writing
.

　　Original title: dry goods! Comparison of leading companies in the machine vision industry between China and Japan in 2021: Japan Keyence VS China Tianzhun Technology

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