Global Vision Sensor Market, By Sensor Type (Less Than 3D Vision Sensors, 3D Vision Sensors, Others), Application (Inspection, Gauging, Code Reading, Localization), Industry (Automotive, Electronics and Semiconductor, Consumer Electronics, Pharmaceuticals, Food and Packaging, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
The automobile industry is anticipated to experience increased demand for vision sensors because of growing need for these sensors in applications for identification, inspection, and localization. Some of the crucial applications that will increase demand for vision sensors from this industry include the inspection of various parts and components, the detection of defective components, the misalignment of parts and components, and the control of robotic arms to carry out difficult tasks on the assembly line. Automated inspections that once needed expensive and complex vision systems are now carried out using reliable, simple, self-contained vision sensors. The most widely used vision sensors will be found in smart cameras, frequently utilized in vehicle detection technologies.
Global vision sensor market was valued at USD 3.21 billion in 2021 and is expected to reach USD 7.78 billion by 2029, registering a CAGR of 11.70% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Sensor Type (Less Than 3D Vision Sensors, 3D Vision Sensors, Others), Application (Inspection, Gauging, Code Reading, Localization), Industry (Automotive, Electronics and Semiconductor, Consumer Electronics, Pharmaceuticals, Food and Packaging, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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Cognex Corporation (U.S.), KEYENCE CORPORATION (Japan), Sick AG (Germany), Omron Corpoartion (Japan), Teledyne (U.S.), Baumer (Switzerland), Datalogic S.p.A. (Italy), IFM Electronic (Germany), Balluff Automation India Pvt. Ltd.(Germany), Basler AG (Germany), Hans Turck GmbH & Co. KG (Germany), Leuze electronic GmbH+Co. KG (Germany), Pepperl+Fuchs (India) Pvt. Ltd. (U.K.), and SensoPart (Germany)
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Market Opportunities
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Market Definition
Vision sensors consist of the interface, display, video camera, and the computer processor, which help to automate industrial processes. The orientation, existence, and correctness of the elements are assessed by the vision sensors using a photo taken by the camera. They are distinct from image inspection "systems" in that the camera, light, and controller are all housed in one unit, simplifying the unit's construction and operation. The majority of the time, these are employed for measurement and other observable aspects of product quality. These contribute significantly to manufacturing's efficiency and are essential components.
Vision Sensor Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Increased Utilization of the Vision Sensor
Vison sensors are usually utilized to uphold product quality as well as to confirm operational efficiency. Moreover, they are utilized in localization, code reading, and gauging programs. These sensors are used in a variety of industrial facilities and industrial processes. They are primarily employed in automobiles, electronics and semiconductors, pharmaceutical, food and packaging, and food industries. The vision sensors are largely used across consumer electronics and the electrical industry. These are some of the key reasons anticipated to propel the expansion of the vision sensor market.
Additionally, the growing nature concerning the analytical care and high need from the advancing implementations are also estimated to bolster the market's overall growth. The rising need of fewer devices to check multiple parameters also cushions the market’s growth within the forecasted period. Manufacturing companies' emphasis on cost and time savings is also a market driver.
Opportunities
- Advancement Of Automation Systems And Integration Of The Advanced Technologies
The growing advancement of automation systems are estimated to generate lucrative opportunities for the market, which will further expand the vision sensor market's growth rate over the forecasted period. Additionally, the integration of the advanced technologies such as internet of things (IoT) and artificial intelligence (AI) will also offer numerous growth opportunities within the market.
Restraints/Challenges
- Product Differentiation Strategies
The surge in adoption of product differentiation strategies by the market players is expected to obstruct market growth.
- High Costs
Also, the high costs associated with installation and the maintenance of the vision sensors negatively impact the market. This factor is projected to be a major challenge for the vision sensor market over the forecast period.
This vision sensor market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the vision sensor market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Vision Sensor Market
The vision sensor market was immensely impacted by the outbreak of COVID-19 . The vision sensor is heavily used throughout manufacturing and inspection processes to assess the product's quality. Production activities in industries such as food and packaging, drinks, and consumer electronics have recently decreased due to labour shortages and government restrictions imposed as a result of pandemics. However, the medical device inspection processes are promoting the expansion of the Vision Sensor market. The necessity for vision sensors has recently been driven by the inspection of medical equipment like ventilators and protective gear. The demand for thermal imaging to track the pervasive coronaviruses, on the other hand, is having an effect on the market's overall expansion.
Recent Developments
- In January 2020, The Kyoto, Japan-based Omron Corporation announced the global release of their new "FH Series Vision System" in July. It features the market's first flaw detection AI technology that recognises errors without learning from samples. By automating human vision-based visual inspection, this AI system reliably detects faults that were previously challenging to capture. It does this by mimicking human sensibility and the approaches of professional inspectors.
- In April 2021, The Baumer inductive distance sensor family IF08 was expanded by tiny cubic designs in stainless steel housings with a wide measuring range up to 3 mm and remarkable and unmatched market-leading setup possibilities via the IO-Link interface. The sensors have two advantages: They fit even in places with limited installation space or mounting alternatives because of their compact size of just 24.6 x 8.8 x 7.8 mm.
- In March 2021, The DataMan 8700 Series of handheld barcode readers has been released, according to Cognex Corporation, a leader in industrial machine vision. This newest generation of portable readers, built on a totally new platform, offers cutting-edge performance and usability with no tweaking or operator training.
Global Vision Sensor Market Scope
The vision sensor market is segmented on the basis of component, system type, monitoring process, deployment type and industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Sensor Type
- Less Than 3D Vision Sensors
- 3D Vision Sensors
- Others
Application
- Inspection
- Gauging
- Code Reading
- Localization
Industry
- Automotive
- Electronics and Semiconductor
- Consumer Electronics
- Pharmaceuticals
- Food and Packaging
- Others
Vision Sensor Market Regional Analysis/Insights
The vision sensor market is analyzed and market size insights and trends are provided by country, component, system type, monitoring process, deployment type and industry as referenced above.
The countries covered in the vision sensor market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the vision sensor market during the forecast period of 2022 to 2029. The region is estimated to be dominant owing to the rising number of smart factories and industry automation along with growth of electronics and automotive industry within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to rising automation of industries in India, China, and Japan within the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Vision Sensor Market Share Analysis
The vision sensor market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to vision sensor market.
Some of the major players operating in the vision sensor market are
- Cognex Corporation (U.S.)
- KEYENCE CORPORATION (Japan)
- Sick AG (Germany)
- Omron Corpoartion (Japan)
- Teledyne (U.S.)
- Baumer (Switzerland)
- Datalogic S.p.A. (Italy)
- IFM Electronic (Germany)
- Balluff Automation India Pvt. Ltd. (Germany)
- Basler AG (Germany)
- Hans Turck GmbH & Co. KG (Germany)
- Leuze electronic GmbH+Co. KG (Germany)
- Pepperl+Fuchs (India) Pvt. Ltd. (U.K.)
- SensoPart (Germany)
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