3D Machine Vision Market Overview
The 3D Machine Vision Market is projected to grow at a
CAGR of 13% during the forecast period. As per the 3D machine vision market
research report, the global market for 3D machine vision is anticipated to grow
rapidly by US$2626.5 million by 2024. As per analysts, increased demand along
with quality concerns will drive the market growth throughout the forecast
period. The 3D machine vision market research report provides an in-depth
analysis of the global 3D machine vision market and its verticals, component,
applications, and product segments. The technical limitations as well as lack
of technical expertise are the factors which could affect the 3D machine vision
market growth during the forecast period. The 3D machine vision market research
report by expert analysts is intended to help companies in the 3D machine
vision market.
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COVID-19 Analysis
The worldwide manufacturing supply chain networks
are working on reorganizing to supply essential goods to address the situation
induced by novel coronavirus. Automation has emerged as one of the most
valuable aspects of the Industry 4.0 in the face of the pandemic. COVID-19
outbreak has led to experts believing that the machine vision technology can be
an important tool when trying to find a COVID-19 breakthrough, for instance in
automated lab systems for vaccine processing as well as testing. 3D machine
vision technology is also being used in various camera based inspection systems
of medical and pharmaceuticals products and in thermal imaging for controlling
the body temperature in public places; among others.
Key Drivers and Primary Deterrents
3D machine vision technology is observing high
demand in industrial operations and is expected to completely replace manual
inspections and measurements. The rising need for reliable and efficient
inspection and measurements boosts the demand for the technology across a
number of industries such as textiles, pharmaceuticals and more.
The rapidly mounting requirement for vision-guided
robotic systems in food & beverage, pharmaceutical & chemical,
packaging and automotive industries is deemed to be a key growth booster in the
market. The escalating demand for the 3D machine vision technology that is
application-oriented also works in favor of the worldwide market.
Prominent Contenders
Prominent contenders recognized by MRFR experts
include Sony Corporation (Japan), Coherent, Inc. (US), Cognex Corporation (US),
Basler AG (Germany), National Instruments (US), Robotic Vision Technologies,
Inc. (US), OMRON Corporation (Japan), Hermary Opto Electronics Inc. (Canada),
Keyence Corporation (Japan), Canon Inc. (Japan), and more.
Market Segmentation
The 3D Machine Vision Market has been considered for
segments like component, product, application as well as vertical.
The main components included in the study are
hardware (Communication Device, Control Cabinet, Camera, and others) as well as
software. In 2018, the lead was taken by the hardware segment, while the
fastest growth rate can be procured by the software segment in the years ahead.
The product-wise market categories are smart
camera-based as well as PC based. In 2018, the PC-based segment held the
highest share in the market and was valued at USD 704.30 million, while the
smart camera-based segment is anticipated to gain at the fastest rate during
the review timeframe.
The applications considered in the report include
gauging, inspection, identification and guidance. In the year 2018, the
inspection segment dominated the market, whereas the gauging segment stood
second. The sane year, it was estimated that the identification segment can
attain the highest CAGR in the following years.
The verticals that use vision systems are food and
packaging, semiconductor, automotive, healthcare, consumer electronics, and
more. In 2018, the automotive segment recorded the highest growth and the
consumer electronics section held the second highest value in the global
market. However, it is expected that the food and packaging segment can post
the fastest CAGR over the next few years.
Impact of COVID-19 on the Global 3D
Machine Vision Market at: https://www.marketresearchfuture.com/report/covid-19-impact-3d-machine-vision-market
Regional Insight
The report throws light on the machine vision
diagram and the growth prospects across the regions of Asia Pacific or APAC,
Europe, North America, and RoW/the rest of the world.
APAC can manifest into the most profitable market
for 3D machine vision systems, resulting from the high concentration of
renowned firms and the massive advancements in automation. Increasing
penetration of automation in multiple industries, especially in consumer
electronics and automotive has played a significant role in the market
development across the region. With some of the most widely recognized players
present in China, South Korea and Japan, the 3D machine vision market in APAC
is bound to generate high revenues in the years ahead.
North America is technically more successful
compared to its counterparts, with strong support from global companies and
economically sound countries like Canada and the United States/US. The frequent
technology-based innovations along with the heavy expenditure on research and
development for building advanced manufacturing processes induce business
growth in the region. The accelerated deployment rate of robotics across
various industries adds to the region’s growth potential as well.
Latest News
2 June 2020: Berkshire Grey, an AI and robotics
vendor has made available its Robotic Induction Station solutions, which is
based on the machine vision technology. The RIS system helps automate various
operational tasks to avoid labor constraints, which can facilitate social distancing
in distribution operations, and lead to optimum use of the existing material
handling assets.
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