[196+ Pages Report] According to a Facts & Factors market research report, the global 3D machine vision market stood at about USD 1.59 Billion in 2020; further, this revenue is expected to touch USD 2.84 Billion by the year 2026, increasing at a CAGR of around 9.8% from 2021 to 2026.
With technological innovation occurring at a faster rate than ever before, many once expensive technologies are being made significantly cheaper. And nowhere is this truer than in the field of 3D machine vision. While machine vision is no new technological development, the emergence of cheaper 3D imaging cameras and sensors has recently been the catalyst for a host of new applications for the technology. The majority of machine vision systems traditionally used 2D imaging to identify the position of products on a conveyor belt, for example. However, one of the biggest drawbacks of using two dimensions, x, and y, is that, in this example, the product's size and shape would need to be known in order for the system to work. Using three dimensions allows machine vision systems to extrapolate positions in the x, y, and z. Hence 3D machine vision systems are beginning to be applied in a variety of different roles. 3D machine vision can be roughly defined as technologies that allow for the three-dimensional measurement or inspection of 3D objects or surfaces. The different techniques in which 3D vision can be achieved are laser profiling, stereo imaging, fringe protection and time of flight techniques.
3D machine vision creates a digitalized model of the specific shape and size of the object that it is scanning. 3D machine vision is capable of fusing various point clouds from various scanners. The term machine vision includes a variety of hardware and software products, technologies, actions, and integrated systems. 3D machine vision is used in various industrial verticals such as defense, automotive, healthcare, semiconductors, consumer electronics, and logistics. Depending upon where this technology is used, the end-users of 3D machine vision will possess different requirements. There has been a specific need and increase in the demand for automation and quality inspection across various sectors. Adaptation of automation particularly in the consumer electronics and automotive industries is continuously increasing and this will prove to be the major driving factor for 3D machine vision. Moreover, the rising technological advancements and favorable environment for manufacturing industries all over, are also supporting the growth of the 3D machine vision market.
Based on components, the 3D machine vision market is bifurcated into hardware and software. Based on product type the market is bifurcated into smart camera-based and PC-based. Based on application the market is bifurcated into quality assurance & inspection, positioning & guidance, measurement, and identification. Based on the industrial vertical the 3D machine vision market is bifurcated into automotive, pharmaceuticals & chemicals, electronics & semiconductor, pulp & paper, printing & labeling, food & beverage (packaging and bottling), glass & metal, postal & logistics, and others.
On a regional basis, the 3D machine vision market is divided into five major regions namely North America, Europe, Latin America, Asia Pacific, and The Middle East and Africa.
The region of Asia Pacific is comprised of some of the promising economies like Chine, Japan, India, South Korea, Australia, etc. The region is currently dominating the 3D machine vision market and is further expected to grow with the high CAGR in the forthcoming years. This anticipated growth is attributed to the increasing adoption of automation mostly across all industries but mainly in the consumer electronics and automotive sectors.
Some of the key players in the 3D machine vision market are OMRON Corporation, Keyence Corporation, Cognex Corporation, Basler AG, National Instruments, ISRA Vision AG, TKH group, Stemmer Imaging, MVTec Software GmbH, Tordivel AS, Sick AG, LMI Technologies, Sony Corporation, Teledyne Technologies, Canon Inc., Balluff GmBH, Industrial Vision System, Intel Corporation, Robotic Vision Technologies, Inc., Coherent, Inc., Hermary Opto Electronics INC, Baumer Optronic GmbH, and Texas Instruments Incorporated among others.
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