What is the global market size of 3D Machine Vision Market?

Global 3D Machine Vision Market size was valued at USD 5.12 billion in 2021 and is poised to grow from USD 5.81 billion in 2022 to USD 19.66 billion by 2030, growing at a CAGR of 13.5% in the forecast period (2023-2030).

Global 3D Machine Vision Market Size, Share, Growth Analysis, By Application(Quality Assurance & Inspection, Positioning & Guidance), By End-Use(Automotive, Pharmaceuticals), By Component(Hardware, Software), By Product(PC Based, Smart Camera Based) - Industry Forecast 2024-2031

Report ID: SQMIG45I2044 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 120 | Figures: 77

Global 3D Machine Vision Market Insights

3D Machine Vision Market size was valued at USD 5.12 billion in 2019 and is poised to grow from USD 5.81 billion in 2023 to USD 19.66 billion by 2031, growing at a CAGR of 13.5% in the forecast period (2024-2031).

The machine vision market is projected to be driven by the rising demand for quality inspection and automation in various industrial verticals. In addition, the demand for vision-guided robotic systems in the packaging, food & beverage, pharmaceutical & chemical, and automotive industries is anticipated to drive market expansion. The adoption of the technology will be aided by the rise in demand for application-oriented machine vision systems during the forecasted period. In 3D machine vision (MV) systems, one or more video cameras, digital signal processing, and analogue to digital conversion are used to enable a computer to view, examine, and analyze the task performance. The computer will then analyze the data and produce the desired result after it has been captured.

US 3D Machine Vision Market is poised to grow at a sustainable CAGR for the next forecast year.

Global 3D Machine Vision Market Report Snapshots

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On the basis of application, the market is categorized into quality assurance & inspection, positioning & guidance, measurement, and identification.

The Asia Pacific 3D Machine Vision Market is expected to account for more than 30% of the demand share in the global market. Factors attributing to the growth are expansion of manufacturing, automotive, and food & beverage industry in India and Japan.

An original equipment manufacturer, a network of component manufacturers, system integrators, resellers and distributors, and end-users comprise the market ecosystem. Cognex Corporation (US), Keyence Corporation (Japan), Sick AG (Germany), ISRA Vision AG (Germany), and Basler AG are among the market's key players (Germany). Several key players, as well as new industry entrants, are increasingly pursuing mergers and acquisitions in order to expand their geographic presence and capitalize on the expanding market potential. For example, Basler AG announced the acquisition of mycable GmbH, an embedded computing consulting firm, in June 2017. The acquisition aimed to reduce customers' embedded vision technology integration efforts and expand its market reach in the rapidly growing field of embedded vision technology. 'CognexCorporation ', 'Basler AG ', 'Omron Corporation ', 'Keyence Corporation', 'Sick AG', 'Teledyne Technologies Inc.', 'Texas Instruments Inc.', 'Isra Vision AG', 'National Instruments Corporation', 'Stemmer Imaging AG', 'Allied Vision Technologies GmbH', 'Baumer Optronic GmbH', 'LMI Technologies Inc.', 'Matrox Imaging', 'Mvtec Software GmbH', 'Pepperl+Fuchs AG', 'Robotic Vision Technologies Inc.', 'JAI A/S', 'Photoneo', 'Zivid AS'

Smart cameras frequently assist a 3D machine vision system by digitizing and transmitting frames for computer analysis. A smart camera has a single image sensor embedded in it. They are typically designed for specialized applications where space constraints necessitate a small footprint. Smart cameras are used for a variety of automated functions, whether as part of a multipart 3D machine vision system or as standalone image processors. Smart cameras are regarded as an effective option for streamlining automation methods or integrating vision systems into manufacturing operations due to their low cost and ease of use. Smart cameras are in high demand in industrial production because manufacturers frequently use them for inspection and quality assurance.

The use of embedded vision is a recent market trend. The term "embedded vision" refers to a technology that combines image capture and processing into a single device. This advancement in machine vision has resulted in more extensive industrial applications, such as thorough inspection and sorting solutions. Embedded vision technology has even been used in ground-breaking products such as autonomous drones, driverless cars, and smartphones. Deep learning will be used by embedded devices as well, aided by more powerful Field Programmable Gate Array (FPGAs) that will provide more opportunities to accelerate computationally expensive vision and neural algorithms right on the involved embedded devices.

Based on the regional segmentation, the Asia Pacific region is expected to account for 30% share in the global 3D machine vision market. Factors attributing to the growth are expansion of manufacturing, automotive, and food & beverage industry in India and Japan. China is considered to be one of the largest manufacturing and automotive industry, followed by India. According to IBEF, India was among the top 5 automotive markets.

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Global 3D Machine Vision Market Size, Share, Growth Analysis, By Application(Quality Assurance & Inspection, Positioning & Guidance), By End-Use(Automotive, Pharmaceuticals), By Component(Hardware, Software), By Product(PC Based, Smart Camera Based) - Industry Forecast 2024-2031

Global 3D Machine Vision Market Insights

Global 3D Machine Vision Market Report Snapshots

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