02-Aug-2021 | Facts and Factors
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.
3D machine vision is a growing trend that delivers accurate, real-time information to improve performance in applications. 3D machine vision detects objects regardless of position. As a result, robots have more flexibility and independence when compared to their 2D-only counterparts. Robot vision with 3D lets the machine know if an object is lying down, upright, or hanging. Robots with 3D machine vision can fulfill various tasks without reprogramming. They can account for unexpected variables in work environments. 3D vision allows robots to know what’s in front of them and react properly. 3D imaging is currently being used in metrology, guidance, and defect analysis systems. The cameras used in machine vision systems have an important role in capturing 3D images. The requirement of high-quality images and quick image processing is providing an upward push for the acceptance of 3D machine vision systems. Additionally, with the advancements in smart camera technology and IoT, which can be easily be integrated with smart cameras, and the penetration of smart camera-based machine vision systems is likely to increase in the forth coming years.
Top Market Players
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.
Increased demand for quality inspection and automation are the major driving factors of the 3D machine vision market
The demand for quality inspection and automation has been increased in recent years throughout multiple industrial verticals. This in turn is likely to drive the 3D machine vision market. 3D machine vision comprises various hardware and software products, technologies, actions, and integrated systems. Thus, the 3D machine vision systems possess the ability of computers to observe, inspect, and scrutinize the work performance by indulging one or more video cameras, digital signal processing, and analog to digital conversion. The data that is captured is transferred to the computer to analyze and provide the required outputs. Adaptation of automation techniques is especially seeing a hike in the consumer electronics and automotive industries. Hence the demand for 3D machine vision is particularly expected to be high in these two sectors.
Moreover, the need for vision-guided robotic systems across automotive, food & beverage, pharmaceutical & chemical, and packaging segments are expected to contribute to the market growth of D machine vision systems. The rising demand for application-specific machine vision solutions is also boosting the adoption of the technology throughout the forecast period.
Also, after the outbreak of COVID-19, manufacturing companies are planning to increase their investments towards automation. Industries have come to realize the importance of automated quality assurance which was further elevated due to the pandemic situation upholding less human intervention in the involved in the processes. This has led to the wider acceptance of 3D machine vision as an integral part of long-term automation development processes.
Asia Pacific Region Dominates the Global 3D Machine Vision Market
Regional segmentation of the 3D machine vision market is done into five major regions namely North America, Europe, Latin America, Asia Pacific, and The Middle East, and Africa.
The region of Asia Pacific dominated the market and is further expected to hold a major market share owing to the increasing adoption of automation in some of the prominent manufacturing industries in major economies like China, Japan, India, and South Korea, etc. Moreover, the competitive environment between some of the global consumer electronics companies in the Asia Pacific will substantially promote growth of 3D machine vision market since adoption of automation is higher in the consumer electronics industry. The growing awareness about the demand for high-quality and zero-defect products has been fuelling the need for 3D machine vision in inspection-related applications in the manufacturing fields.
Browse the full report “3D Machine Vision Market By Component (Hardware and Software), By Product Type (Smart Camera-Based and PC Based), By Application (Quality Assurance & Inspection, Positioning & Guidance, Measurement, and Identification), and By Industry Vertical (Automotive, Pharmaceuticals & Chemicals, Electronics & Semiconductor, Pulp & Paper, Printing & Labelling, Food & Beverage (Packaging and Bottling), Glass & Metal, Postal & Logistics, and Others): Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026” at https://www.fnfresearch.com/3d-machine-vision-market
The global 3D machine vision market is segmented as follows:
By Product Type:
By Industry Vertical:
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