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3D machine visions have become an integral part of smart factories and vision-guided robots. These systems enable image processing, further used for automated inspection, robotic guidance, positioning, and sorting. 3D machine visions are extensively used in industrial, commercial, and government sectors.
In its latest publication on the 3D machine vision market, Meticulous Research states that the market will increase at a CAGR of 12.1% from 2021–2028 to reach USD 3.1 billion by 2028.
The 3D machine vision market’s growth is mainly attributed to the rising demand for automated quality inspection technologies, increasing demand for vision-guided robotic systems, and the advent of industry 4.0. Moreover, growing automation in developing countries and increasing government initiatives to support industrial automation provide significant growth opportunities for players operating in the 3D machine vision market.
To provide efficient analysis, Meticulous Research has segmented this market based on component (hardware [camera, frame grabbers, optics, lighting, others], software), product (PC-based, smart cameras), application (quality assurance & inspection, positioning & guidance, measurement, identification, and sorting), and end user (industrial [automotive, pharmaceuticals & chemicals, electronics & semiconductor, printing & labeling, food & beverage, glass & metal, others], commercial [healthcare, intelligent transportation system, logistics], government [security & surveillance, military & defense]), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).
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Based on component, the 3D machine vision market is segmented into hardware and software. In 2021, the hardware segment is expected to command the larger share of the 3D machine vision market. The hardware segment is further sub-divided into cameras, frame grabbers, optics, lighting, and others. The cameras segment is expected to contribute the largest revenue share in 2021.
However, the software segment is expected to grow at the highest CAGR during the forecast period. The high growth rate of this segment is attributed to the increasing demand for new and upcoming software for varied applications of 3D machine vision systems.
By product, the PC-based segment is expected to command the largest share of the market in 2021. The large share of this segment is attributed to its benefits, such as high processing power and its capability of handling complex operations.
However, the smart cameras segment is expected to grow at a faster CAGR during the forecast period. The growth rate is attributed to its lower costs and compact design.
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Based on application, the sorting segment is estimated to grow at the highest CAGR during the forecast period. The increasing use of 3D machine vision for sorting applications in the food and beverage sector is one of the major drivers for the growth of this segment.
By end user, the market is segmented into industrial, commercial, and government segments. Under the industrial segment, the automotive sub-segment is poised to account for the largest share of the market in 2021. This segment’s large share is primarily attributed to the extensive implementation of 3D machine vision in automotive manufacturing facilities to serve applications such as component checking, error proofing, and assembly verification.
However, the food and beverage segment is projected to grow at the highest CAGR during the forecast period. Under the commercial segment, the intelligent transportation systems segment is expected to grow at the highest CAGR during the forecast period. The high growth rate is attributed to the rising application of 3D machine vision in autonomous vehicles.
In 2021, Asia-Pacific is estimated to account for the largest share of the market, followed by Europe and North America. Asia-Pacific is the largest manufacturing hub. High production and application of robotics have resulted in this region’s large market share and significant growth rate during the forecast period.
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The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players in this market, including Cognex Corporation (U.S.), Keyence Corporation (Japan), ISRA Vision AG (Germany), Sick AG (Germany), Basler AG (Germany), Omron Corporation (Japan), National Instruments (U.S.), LMI Technologies (Canada), Sony Corporation (Japan), Stemmer Imaging (Germany), Teledyne Technologies (U.S.), Canon Inc. (Japan), Torvidel AS (Norway), Balluff GmBH (Germany), and Industrial Vision System (U.K.).
Contact: Mr. Khushal Bombe Meticulous Market Research Inc. 1267 Willis St, Ste 200 Redding, California, 96001, U.S. USA: +1-646-781-8004 Europe : +44-203-868-8738 APAC: +91 744-7780008 Email- [email protected] Visit Our Website: https://www.meticulousresearch.com/
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