December 15, 2021 06:00 ET | Source: Meticulous Market Research Pvt. Co., Ltd. meticulous market research Pvt. Limited company
Reading, California, December 15, 2021 (GLOBE NEWSWIRE) - According to a report entitled "By component (hardware, software), product, application, end user (industrial [automotive, electronics & semiconductor, food and beverage ], Business [Healthcare, ITS], Government) and Geography-Global Forecast to 2028", released by Meticulous Research®, the 3D machine vision market is expected to grow at a compound annual growth rate of 12.1% from 2021 – 2028 It will increase from 1.4 billion US dollars in 2021 to 3.1 billion US dollars in 2028.
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The 3D machine vision market is driven by the growing demand for automated quality inspection technology, the growing demand for vision-guided robotic systems, and the emergence of Industry 4.0.
However, due to the bright surface and the complexity of the integrated 3D machine vision system, the depth error has hindered the growth of this market to a certain extent.
The impact of COVID-19 on the 3D machine vision market
The COVID-19 pandemic has severely affected the manufacturing industry in 2020. The simultaneous interruption of supply and demand due to business shutdowns led to an extreme downturn. The impact of this epidemic is expected to cause crises of varying degrees between different sub-sectors. Since demand comes from various sectors, it is expected that machinery and industrial automation will not be equally affected by the crisis.
However, the COVID-19 pandemic may accelerate the development and implementation of automation technology as there is greater incentive to replace labor. Robots and smart technologies have great potential for disease monitoring and contact tracing, non-contact diagnosis of COVID-19, and even disinfection of contaminated areas such as hospitals and public places. Machine vision vendors and imaging associations are expected to be optimistic, and are expected to recover quickly by 2021-2022. As the demand for vision technology has increased, especially in consumer electronics for new applications, China has also reasonably restored restrictions.
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3D machine vision market overview
The 3D machine vision market is segmented according to components (hardware [cameras, frame grabbers, optics, lighting, other], software), products (PC-based, smart cameras), applications (quality assurance and inspection, positioning and guidance, measurement) , Identification and sorting), end users (industrial [automotive, pharmaceutical and chemical, electronics and semiconductor, printing and labeling, food and beverage, glass and metal, other], commercial [health care, intelligent transportation system, logistics], government [Security and surveillance, military and defense]) and geography.
In terms of components, the hardware part is expected to account for the largest share of the entire 3D machine vision market in 2021. Under the hardware part, the camera category is expected to contribute the largest share in 2021. The camera plays an indispensable role in it. A 3D machine vision system for capturing 3D images. Therefore, the demand for high-quality images and fast image processing continues to increase, which drives the demand. However, the software sector is expected to grow at a faster compound annual growth rate during the forecast period. The high growth rate is attributed to the increasing demand for new software and upcoming software for various applications of 3D machine vision systems.
According to product types, it is expected that by 2021, the PC-based market segment will account for the largest share of the entire 3D machine vision market. The huge market share of this segment is mainly attributable to its high processing power and relatively high speed in its ability to handle complex operations. However, the smart camera segment is expected to grow at a higher compound annual growth rate during the forecast period. The high growth rate of this market segment is attributed to its rapidly growing demand due to its compact design, lower cost, ease of installation and reduced demand for peripheral equipment.
According to the application, the quality assurance and inspection department is expected to occupy the largest share of the entire 3D machine vision market in 2021. In this application, the 3D machine vision system detects defects, functional defects, contaminants and other irregularities in manufactured products. In addition, the system is also used to check product integrity in the pharmaceutical, food and beverage, and plastic industries. However, during the forecast period, the sorting department is expected to grow at the highest compound annual growth rate. The adoption of vision-guided robotic systems and their widespread use in the food and beverage industry are some of the key factors contributing to the growth of this market segment. Quick purchase-3D machine vision market research report: https://www.meticulousresearch.com/Checkout/47599806
According to end users, the 3D machine vision market has been subdivided into industrial, commercial, and government. In the industrial sector, the food and beverage industry is expected to grow at the fastest compound annual growth rate during the forecast period. One of the key factors attributed to the high growth rate of this segment is the rapid adoption of 3D machine vision systems for picking and sorting applications in this field. However, the automotive sector is expected to become the largest revenue-generating sector in 2021.
Geographically, by 2021, the Asia-Pacific region is expected to occupy the largest share of the global 3D machine vision market, followed by Europe and North America. The huge market share in the Asia-Pacific region is mainly due to the growth of manufacturing and the rapid implementation of robotic processes in Japan and China. In addition, due to the implementation of a number of Industry 4.0 plans, the region is expected to grow at a significant compound annual growth rate during the forecast period. In addition, the growth of Vision Guided Robots (VGR) is driving the growth of this market.
The major operators in the global 3D machine vision market are Cognex Corporation (U.S.), Keyence Corporation (Japan), ISRA Vision AG (Germany), Sick AG (Germany), Basler AG (Germany), Omron Corporation (Japan), National Instruments ( United States), LMI Technologies (Canada), Sony Corporation (Japan), Stemmer Imaging (Germany), Teledyne Technologies (United States), Canon Inc. (Japan), Torvidel AS (Norway), Balluff GmBH (Germany) and Industrial Vision System ( UK) etc.
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3D machine vision market, by component
3D machine vision market, by product
3D machine vision market, by application
3D machine vision market, by end user
3D machine vision market, by geography
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