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Vision Sensor Market Segmentation by Sensor Type (Less than 3D and 3D); and by Application (Inspection, Gauging, Code Reading, and Localization) – Global Demand Analysis and Opportunity Outlook 2030

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Extensive insights into the Growth of Vision Sensor Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • April 2021: Baumer extended its Baumer inductive distance sensor family IF08, by small cubic designs, in stainless steel housings with extensive measurement range up to 3 mm, and setting options via IO-Link interface are outstanding and unique in the market. The sensors provide a double benefit: With small size of merely 24.6 x 8.8 x 7.8 mm, they even fit where installation space is tight or mounting options are minimal. 
  • March 2021: Cognex Corporation, the leader in industrial machine vision, announces the launch of its DataMan 8700 Series of handheld barcode readers. Built on a completely redesigned platform, this next generation of handheld readers delivers cutting-edge performance and ease of use with no tuning or operator training required.
  • January 2020: Omron Corporation, based in Kyoto, Japan, announced the global release in July of its new "FH Series Vision System" with the industry's first defect detection AI technology that identifies defects without learning samples. This AI technology, which reproduces human sensibility and the techniques of skilled inspectors, reliably detects defects that were once difficult to capture, automating human vision-based visual inspection.

Vision Sensor Market Highlights 2021-2030

The vision sensor market is estimated to grow with a high CAGR during the forecast period, i.e., 2021-2030. Extensive research associated with vision sensors in western countries and the growth of the electronics and electrical industry is expected to fuel the growth of this market. The development of the market can also be attributed to machine vision technology in the automotive industry and traffic safety globally. A vision sensor system is a type of image processing system that is employed for a specific task. The vision sensor primarily captures images, then evaluates them with image processing algorithms, and finally triggers a response. Vision sensors are usually composed of a video camera, display and interface, and a computer processor.

In some cases, vision sensors are integrated with an integral processor, known as intelligent cameras. Vision sensors use images to find out the presence, orientation, and accuracy of surrounding objects. These sensors utilize the combination of both image acquisition and image processing. Using a single sensor, multi-point inspections are also possible.

Vision sensors are primarily used to maintain the quality of products and verify the achievement of operational efficiency. They are also used in applications such as gauging, code reading, and localization. These sensors have a wide range of applications in industrial plants and industrial processes. They are mainly used in industries such as automotive, electronics & semiconductors, pharmaceuticals, and food & packaging. The vision sensor market is highly competitive, and the key strategies adopted by the market players include product development, business expansion, merger & acquisition, and new product launch. For instance, in April 2019, Teledyne DALSA has launched BOA Spot XL vision sensors for industrial automation and inspection. It is a low-cost product designed for error proofing, identification, general inspection, and robot guidance. The BOA Spot XL provides integrated LED lighting, lens cover, and easy-to-use application software, providing high-value capabilities at a low cost of ownership. CLICK TO DOWNLOAD SAMPLE REPORT

Global-Vision-Sensor-Market-Overview

The market is segmented on application into inspection, gauging, code reading, and localization. The code reading segment is anticipated to grab the most significant share by the end of 2020. Code reading will be a crucial activity in industries such as food & beverages, packaging, and logistics in the coming years. 1D or 2D code readers, fixed or handheld code readers will play an important role in marking and identifying products and tracking products on a conveyer belt or during transit to the intended location. The increased demand for vision sensors from the automotive industry and food & packaging industry is likely to positively impact the growth of the vision sensor market for code reading applications during the forecast period.

Based on sensor type, the market is segmented into Less than 3D and 3D sensors, out of which 3D vision sensors will hold the largest market share during the forecast period owing to the increased inspection and code reading applications. 1D and 2D are estimated to dominate the market. These sensors are used for inspection, gauging, code reading, and localization applications across end-user industries such as automotive, electronics & semiconductors, pharmaceuticals, food & packaging, which will propel the demand of sensors.

Major Macro-Economic Indicators Impacting the Market Growth

Global-Research-and-Development-Expenditure

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Vision Sensor Market Regional Synopsis

Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the vast population shift and an increase in disposable income, which has prompted a higher demand for products in the APAC region. Manufacturers are looking to adopt automation techniques to reduce costs, save time, and improve product quality. These factors will continue to push the demand for vision sensors in these industries in the APAC region during the forecast period. Moreover, The North American market is expected to account for significant revenue share globally and register considerable CAGR over the forecast period. This can be attributed to the growing number of smart factories or industry automation in the region, which is expected to result in higher demand for vision sensors. In addition, rapidly growing industries such as automotive and electronics & semiconductor industries in North America are expected to positively impact demand and adoption rate of vision sensors and drive the growth of the market in the region.

Vision-Sensor-Market-Share

The global vision sensor market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global vision sensor market includes the following segments:

By Sensor Type

  • Less than 3D
  • 3D

By Application

  • Inspection
  • Gauging
  • Code Reading and Localization

By End-User Industry

  • Automotive
  • Electronics and semiconductor
  • Pharmaceuticals
  • Food and Packaging

Growth Drivers

  • Growth of electronics and electrical industry
  • Use of machine vision technology in automotive industry and traffic safety
  • Focus of manufacturing companies on cost and time saving
  • Introduction of IoT in manufacturing
  • Need for fewer devices to inspect multiple parameters
  • Rising usage of 3D machine vision systems
  • Growing need for automation and quality inspection

Challenges

  • Price level sensitivity
  • Designing miniaturized image sensor chips
  • Higher cost of research and development 
  • Complex manufacturing and integration of machine vision system

Key Players Dominating the Market

  •  Cognex Corporation
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Keyence Corporation
  • Balluff GmbH 
  • Baumer India Private Limited
  • Sick AG
  • Omron Corporation
  • Datalogic S.p.A
  • Basler AG
  • Ifm electronic gmbh

 

 

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