Growing Electric Vehicle Deployment Propelling Asia-Pacific Vision Sensor Market

The global vision sensor market revenue stood at $2.5 billion in 2019, and it is predicted to rise to $9.2 billion by 2030. According to the estimates of the market research company, P&S Intelligence, the market will progress at a CAGR of 12.7% from 2020 to 2030 (forecast period). The expansion of the automotive and packaging industries is the biggest factor propelling the sales of vision sensors across the world. In the automotive sector, vision sensors are required for localization, identification, and inspection applications.

Due to the soaring automobile manufacturing, especially in emerging economies, such as Thailand and Indonesia, the demand for vision sensors is rising sharply, as these sensors are used for making automobile manufacturing processes faster. Additionally, the surging number of automakers in developing nations is also pushing up the requirement for vision sensors. Besides this, the soaring need for industrial automation solutions is also creating immense growth opportunities for the players operating in the vision sensor market.

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With increasing adoption of Industry 4.0 standards, the requirement for automation in various industrial processes is predicted to shoot up in the forthcoming years. In addition, manufacturing companies are increasingly incorporating automation in manufacturing processes in order to improve productivity and efficiency. In industrial automation, sensors play a crucial role in making the products intelligent and automatic. For example, vision sensors are heavily used for the inspection of manufactured items in electronics, food and beverages, and automotive industries.

Depending on type, the vision sensor market is categorized into color and monochrome categories. Of these, the color category is predicted to register faster growth in the coming years. This is ascribed to the mushrooming need for solutions including the inspection of the color of a particular product component and tracking changes in color in several industrial applications. Furthermore, color vision sensors assist in inspecting the condition of the object and provides critical information that massively improves the reliability.

Additionally, the ballooning requirement for better quality of manufactured products is driving the need for vision sensors across the globe. Geographically, China and the U.S. hold majority shares in the vision sensor market. This is because of the booming manufacturing industry in these countries. Moreover, the rapid advancements being made in the packaging industry are pushing up the requirement for vision sensors in applications, such as label position checking and label inspection all over the world.

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In the coming years, the Asia-Pacific (APAC) region is predicted to be the fastest growing vision sensor market. This will be because of the booming automobile industry, surging population, and soaring requirement for consumer electronics appliances in the region. Additionally, the growing deployment of electric vehicles, especially in Japan and China, on account of the implementation of supportive government policies, is also propelling the advancement of the market in the region. For example, both Japanese and Chinese governments are providing subsidies for increasing electric vehicle sales.

Hence, the demand for vision sensors will shoot up in the coming years, primarily because of the expanding packaging and automotive industries across the world.

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This release was published on openPR.