Cognex Corporation was incorporated in Massachusetts in 1981. Our corporate
headquarters are located at One Vision Drive, Natick, Massachusetts 01760 and
our telephone number is (508) 650-3000.
Cognex is a leading worldwide provider of machine vision products that capture
and analyze visual information in order to automate tasks, primarily in manufacturing
processes, where vision is required. Machine vision products are used to automate
the manufacture and tracking of discrete items, such as mobile phones, aspirin
bottles, and automobile tires, by locating, identifying, inspecting, and measuring
them during the manufacturing or distribution process. Machine vision is important
for applications in which human vision is inadequate to meet requirements for
size, accuracy, or speed, or in instances where substantial cost savings are
obtained through the reduction of labor or improved product quality. Today,
many types of manufacturing equipment require machine vision because of the
increasing demands for speed and accuracy in manufacturing processes, as well
as the decreasing size of items being manufactured.
Cognex machine vision is primarily used in the manufacturing sector, where
the technology is widely recognized as an important component of automated production
and quality assurance. In this sector, the Company’s customers are primarily
in the factory automation market. Factory automation customers purchase Cognex
vision products and incorporate them into their manufacturing processes. Virtually
every manufacturer can achieve better quality and manufacturing efficiency by
using machine vision, and therefore, this market includes a broad base of customers
across a variety of industries, including consumer electronics, automotive,
consumer products, food and beverage, medical devices, and pharmaceuticals.
Factory automation customers also purchase Cognex products for use outside of
the assembly process, such as using ID products in logistics automation for
package sorting and distribution.
Our goal is to expand our position as a leading worldwide provider of machine
vision products. Sales to customers in the factory automation market represent
the largest percentage of our total revenue, and we believe that this market
provides the greatest potential for long-term revenue growth.
In order to grow the factory automation market, we have invested in developing
new products and functionality that make vision easier to use and more affordable,
and therefore, available to a broader base of customers. This investment includes
selective expansion into new industrial vision applications through internal
development, as well as the acquisition of businesses and technologies. We have
also invested in building a worldwide sales and support infrastructure in order
to access more of the potential market for machine vision. This investment includes
opening sales offices in emerging markets, such as China, India, Brazil, and
Eastern Europe, where we believe many manufacturers can benefit from incorporating
machine vision into their production processes, and developing strategic alliances
with other leading providers of factory automation products.
