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The 3D Machine Vision Market is Expected to Grow at a CAGR of 10.2% From 2020 to 2027 to Reach USD 2.65 Billion by 2027, From USD 1.35 Billion in 2020
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According to this latest publication from Meticulous Research, the 3D machine vision market is projected to reach USD 2.65 billion by 2027, growing at a CAGR of 10.2% during the forecast period. This market is majorly driven by demand for automated quality inspection technologies, increasing demand for vision-guided robotic systems, and Industry 4.0. However, depth errors caused due to shiny surface and complexity in integrating 3D machine vision systems are expected to hamper the growth of this market to some extent.
The 3D machine vision market study presents historical market data in terms of value (2019), estimated data (2020), and forecasts for 2027. The market is segmented based on component (hardware (camera, frame grabbers, optics, lighting, others), software), product (PC-based, smart camera), 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)). The study also evaluates industry competitors and analyses the market at a country level.
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Scope of the Report
3D Machine Vision Market By Component
Hardware
Cameras
Frame Grabbers
Optics
Lighting
Others
Software
3D Machine Vision Market By Product
PC-based
Smart Camera
3D Machine Vision Market By Application
Quality Assurance & Inspection
Positioning & Guidance
Measurement
Identification
Sorting
3D Machine Vision Market By End User
Industrial
Automotive
Pharmaceuticals & Chemicals
Electronics & Semiconductor
Printing & Labeling
Food & Beverage
Glass & Metal
Others
Commercial
Healthcare
Intelligent Transportation Systems
Logistics
Government
Security & Surveillance
Military & Defense
3D Machine Vision Market By Geography
North America
U.S
Canada
Europe
Germany
UK
France
Italy
Rest of Europe
Asia-Pacific (APAC)
China
Japan
India
South Korea
Rest of Asia-Pacific
Latin America
Middle East and Africa
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Based on component, the 3D machine vision market is segmented into hardware and software. The software segment is expected to grow at a faster CAGR during the forecast period. This is due to the increasing demand for new and upcoming software for varied applications of 3D machine vision systems.
Based on product, the 3D machine vision market is segmented into PC-based and smart cameras. The smart cameras segment is expected to grow at a higher CAGR during the forecast period. The high growth rate of this segment is mainly attributed to its rapidly increasing demand due to features such as compact design, low cost, ease of installation, and reduced need for peripheral devices. However, the PC-based segment is expected to command the largest revenue share of the 3D machine vision market in 2020.
Based on application, the 3D machine vision market is segmented into quality assurance & inspection, positioning & guidance, measurement, identification, and sorting. The sorting segment is expected to grow at the highest CAGR during the forecast period. Adoption of vision-guided robotic systems and widespread usage in the food & beverage sector are some of the factors contributing to the growth.
Based on end user, the 3D machine vision market is segmented into industrial and government. In 2020, under the industrial segment, the food & beverage sector is expected to grow at the highest CAGR during the forecast period.
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Geographic Review
This research report analyzes major geographies and provides a comprehensive analysis for North America (U.S. and Canada), Europe (France, Germany, Italy, U.K., and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and RoAPAC), Latin America, and the Middle East & Africa. In 2020, Asia-Pacific is poised to command the largest share of the 3D machine vision market, followed by Europe and North America. The large share of the Asia-Pacific region is mainly attributed to the growth of manufacturing industries and the rapid implementation of robotic processes in countries like Japan and China.
Key Players
The key players operating in the 3D machine vision market are Cognex Corporation (US), Keyence Corporation (Japan), ISRA Vision AG (Germany), Sick AG (Germany), Basler AG (Germany), Omron Corporation (Japan), National Instruments (US), LMI Technologies (Canada), Sony Corporation (Japan), Stemmer Imaging (Germany), Teledyne Technologies (US), Canon Inc. (Japan), Torvidel AS (Norway), Balluff GmBH (Germany), and Industrial Vision System (UK).
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Key questions answered in the report–
Which are the high growth market segments in terms of component/product/application/end-user/region?
What was the historical market for 3D machine vision across the globe?
What are the market forecasts and estimates for the period 2020–2027?
What are the major drivers, restraints, and opportunities in the 3D machine vision market?
Who are the major players in the 3D machine vision market?
How is the competitive landscape, and who are the market leaders in the 3D machine vision market?
What are the recent developments in the 3D machine vision market?
What are the different strategies adopted by the major players in the 3D machine vision market?
What are the geographical trends and high growth regions/countries?
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