Global 3D Machine Vision Market Size, Share, Growth Analysis, By Application, By End-Use, By Component, By Product - Industry Forecast 2022-2028

Global 3D Machine Vision Market size was valued at USD 1,500 million in 2021 and is expected to reach USD 2,900 million by 2028, at a CAGR of 11.10% during the forecast period (2022-2028).

Top-down and bottom-up approaches were used to estimate and validate the size of global 3D Machine Vision Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to get the final quantitative and qualitative data.

Segments covered in this report:

Global 3D machine vision market is segmented based on application, end use, product, component, and region . Based on application, the market is categorized into quality assurance & inspection, positioning & guidance, measurement, and identification. Based on end use, the market is segmented into automotive, healthcare, manufacturing, industrial, agriculture, security & surveillance and others. Further, based on component, it is bifurcated into software and hardware. In terms of product, the market is segmented into PC based and smart camera based. Regionally, the market is categorized into North America, Europe, Asia-Pacific, South America, and Middle East & Africa .

The increased demand for quality inspection and automation in many industrial verticals is expected to drive the machine vision market. Furthermore, the demand for vision-guided robotic systems in the packaging, food and beverage, pharmaceutical and chemical, and automotive industries is expected to fuel market growth. The anticipated increase in demand for application-oriented machine vision systems will aid in the technology's adoption. One or more video cameras, digital signal processing, and analogue to digital conversion are utilised in 3D machine vision (MV) systems to allow a computer to see, study, and analyse task performance. After the data has been captured, the computer will analyse it and deliver the required outcome.

Drivers

Smart cameras are widely used to supplement a 3D machine vision system by digitising and transferring footage for computer analysis. A smart camera contains a single image sensor. They are often intended for niche applications where a compact footprint is required due to space constraints. Smart cameras are utilised for a wide range of automated tasks, whether as part of a multipart 3D machine vision system or as standalone image processors. Because of their low cost and ease of use, smart cameras are regarded as an effective option for streamlining automation procedures or integrating vision systems into manufacturing operations. Manufacturers commonly utilise smart cameras for inspection and quality assurance, thus they are in high demand in industrial production.

Restraint

Robotic vision technology is continuously changing, with new technologies and tools reaching the market at breakneck pace to assist with automation concerns. Throughout the last decade, the robotic vision market has seen the advent of more powerful sensors in the form of smaller and larger pixels, more precise software platforms, and brighter and more efficient lighting. The expensive expense of robotic vision research and development, as well as a lack of customer awareness about fast improving robotic vision technologies, are expected to hinder the industry.

Market Trends

Embedded vision is a relatively new market trend. "Embedded vision" is a technique that combines picture capturing and processing into a single device. Machine vision advancements have resulted in increasingly wide industrial applications, such as thorough inspection and sorting solutions. Embedded vision technology has even been employed in revolutionary goods like autonomous drones, driverless autos, and smartphones. Deep learning will be applied in embedded devices as well, supported by more powerful Field Programmable Gate Array (FPGAs) that will provide additional options to speed computationally intensive vision and neural algorithms right on the embedded devices involved.