PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1092221
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1092221
3D Machine Vision Market size was valued at USD 1,610.8 million in 2020, growing at a CAGR of 11.8% from 2021 to 2027.
Machine vision is a technology that provides imaging-based automatic inspection and analysis for applications like automatic inspection, process control, and robot navigation. Machine vision refers to a collection of technologies, behaviors, software and hardware products, and integrated systems. It differs from computer vision. It is classified into two types: 2D and 3D machine vision systems, depending on the application.
The need for recycled materials is increasing in a variety of industries, including food and beverage Factors such as an increased uptake for 3D vision systems with robot controllers and a rise in the use of automation in 3D vision and applications are driving the 3D machine vision market. Furthermore, contemporary innovations are to blame for increased market growth. For example, in July 2018, OMRON Corporation launched its FH-series Vision System to automate external inspections.
Furthermore, rising demand for application-oriented machine vision systems increased globalization, and increased demand for this technology by the automotive, consumer electronics, defense, semiconductors, healthcare, and logistics industries will emerge as major 3D machine vision market growth drivers. Increasing technological advancements in the quality control inspection process, rising demand for automated industrial services and solutions, and an increasing number of end-user industries, particularly in developing economies, will all contribute to the value of the 3D machine vision market. Rising R&D spending and rising demand for vision-guided robotic systems will pave the way for the 3D machine vision market to expand further.
The 3D Machine Vision industry is segmented on the basis of component, product, application, and region.
On the basis of components, the global 3D Machine Vision Market is divided into Hardware and Software. During the forecast period, the hardware segment is expected to have the highest share. Sensors, cameras, computers, frame grabbers, LED lighting, optics, and other things are examples of hardware components. Cameras had the highest share, which can be ascribed to the rising demand for complementary metal-oxide-semiconductor imaging sensors. This, in turn, is likely to augment the growth in the hardware sector.
On the basis of product, the market is divided into mart Camera-Based Systems and PC-Based Systems. Since smart camera-based vision systems are cost-effective, compact, and adaptable, the market for smart camera-based machine vision systems is anticipated to grow more rapidly during the forecast period. Furthermore, the smart camera-based machine vision system makes it easier to execute adjustments based on revised norms and standards. Furthermore, with advancements in IoT and smart camera technology, which can be easily integrated with smart cameras, and the penetration of smart camera-based machine vision systems, the market is expected to grow in the coming years.
On the basis of application, the Global 3D Machine Vision Market is divided into Positioning & Guidance, Quality Assurance & Inspection, Measurement, and Identification. The market was directed by Quality Assurance and Inspection, which accounted for a sizable portion of global revenue. The systems are widely used for barcodes, label scanning and identification, and text recognition, particularly in the packaging industry. This automates packing tasks, reducing human error, saving time, and increasing efficiency. The technology is widely used in the consumer goods, medical, and packaging industries. The deployment of technology in various industries has resulted in a significant reduction in counterfeit items, thus assisting the broader market to acquire traction for increased adoption.
Companies commonly use new product launches and approvals to extend their global footprints and product lines, and these strategies assist them in meeting rising customer demand. Collaboration is one of the most common techniques used by medical device companies to expand their foreign client base while maintaining their brand identity.
For instance, in June 2017, Basler AG announced the acquisition of mycable GmbH, a consulting firm specializing in embedded computing. The acquisition sought to reduce clients' embedded vision technology integration efforts and expand its market reach in the rapidly growing field of embedded vision technology.
The scope of this report covers the market by its major segments, which include as follows: