The global 3D machine vision market size was estimated at USD 1.32 billion in 2020 and is anticipated to expand at a CAGR of 14.5% during the forecast period, 2021–2028. The growth of the market is attributed to the increase in demand for the automation and quality infection in several industrial verticals.
3D machine vision (MV) systems is capable to inspect, observe, and scrutinize the work performance by using digital signal processing, one or more video cameras, and analog to digital conversion. The data captured is shifted to the computer for analyzing to generate the desired output.
Resolution and sensitivity are two vital factors of any MV system. Resolution accounts for distinguishing in the objects while sensitivity responsible for machine’s ability to identify objects as well as weak impulses in spite of invisible wavelengths or dim lights. The systems principally help in monitoring work environments. It provides features such as robotic guidance, process control, and automatic inspection in industries. Industrial manufacturing and production activities are getting highly complex, increasing unreliability, and creating difficulties for the human eye to observe, detect, and examine activities.
This technology is highly adopted in industrial operations and is substantially substituting manual measurements and inspection, this is accounted to the rising necessity for reliable and efficient measurements and inspection. Machine vision systems use smart image processing systems and cameras to perform accurate inspections and measurements. The technology is gaining significant popularity in pharmaceutical, automotive, food and packaging, and other industrial verticals because of abilities such as improved analysis, monitoring tolerance, enhanced detection of objects, and accurate component measuring.
Market Trends, Drivers, Restraints, and Opportunities
- The increase in demand for vision-guided robotic systems across food & beverage, pharmaceutical & chemical, automotive, and packaging segments are anticipated to boost the market growth in the forecast period.
- The rise in preference for application-oriented machine vision systems is propelling the acceptance of the technology in the coming future.
- The increase in adoption of digitalization along with advanced technology are the key factor boosting the market in the near future.
- The inadequacy of efficient system operators because of lack of training is a hampering the growth of the market.
Scope of the Report
The report on the global 3D machine vision market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
3D Machine Vision Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Offerings (Hardware and Software), Products (PC Based and Smart Camera Based), Application (Quality Assurance & Inspection, Positioning & Guidance, Measurement, and Identification), End-users (Automotive, Pharmaceuticals & Chemicals, Electronics & Semiconductor, Pulp & Paper, Printing & Labeling, Food & Beverage, Glass & Metal, Postal & Logistics, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Cognex Corporation; Keyence Corporation; Sick AG; ISRA Vision AG; Basler AG
Market Segment Insights
Hardware automation segment is expected to grow at a rapid pace
Based on offerings, the global 3D machine vision market is divided into hardware and software. The hardware automation segment is expected to grow at a rapid pace. The segment recorded a revenue share of 69% and more in year 2019. The hardware components comprise several objects such as processors, cameras, LED lightings, frame grabbers, optics, sensors, and others. Cameras are the major contributor for the segment as the demand for metal-oxide-semiconductors (CMOS) has increased tremendously in imaging sensors.
The software segment is also estimated to register high growth in the near future. This is attributed to the deep learning and training of the technology has increased. The use of software has boosted in the recent years. As the advanced technology requires proper software to run this is the key propelling factor for the market segment.
PC-based segment is projected to expand at a considerable CAGR
On the basis of products, the global market is segregated into PC based and smart camera based. The PC-based segment is projected to expand at a considerable CAGR. The segment gained the revenue share of more than 55% in year 2019. The increased use of PC in the market and advantages such as fast pace, less interruptions, and highly advanced boost the market segment for considerable growth.
The smart camera segment is expected to boost in the near future owing to the great acceptance of cameras in the system. Cameras has the ability to direct products and read labels without any human help. Reduced human involvement has resulted in decline in errors and boosted the accuracy of inspection of tags and label.
Automotive segment is estimated to grow at a significant rate
On the basis of end-users, the global market is segregated into automotive, pharmaceuticals & chemicals, electronics & semiconductor, pulp & paper, printing & labeling, food & beverage, glass & metal, postal & logistics, and others. The automotive segment is estimated to grow at a significant rate. The segment registered revenue share of more than 18% in the global market in 2019. The high use of 3D MV in inspection purposes, such as assembly verification, presence-absence checking, final inspection, and error proofing, The MV system is also used for robotic guidance, dimensional gauging, and testing automation activities which comes under the gauge, measure, and guide applications. These factors are expected to propel the demand for the segment in the market during the forecast period.
The food and beverage industry is anticipated to gain significant growth rate in the coming years. The 3D MV systems are mainly used in bottling and packaging operations in food and beverages industry. The machine vision systems are projected demonstrate considerable growth in the printing and labeling, pharmaceuticals and chemicals, and other industry verticals which include machinery and equipment, rubber and plastic processing, agriculture, security, solar paneling, and surveillance.
Quality assurance segment is expected to propel at a significant rate
On the basis of applications, the global market is segmented into measurement, positioning & guidance, quality assurance & inspection, and identification. The quality assurance segment is expected to propel at a significant rate. The segment showed the revenue share of 52% in year 2019. This is attributed to the high use in scanning and label identifying, texts, and barcodes in packaging industry. The automated packaging activities shows the benefits, such as avoiding human errors, saving time, and rising efficiency. The technology is highly used in the pharmaceutical, consumer goods, and packaging sectors. The use of technology in these sectors has caused decline in counterfeit products to a greater extent, this is boosting the market segment growth. The identification segment is anticipated to grow in the coming years owing to the use of machines in monitoring traffic, recognizing number of plates for the security reasons.
Asia Pacific is anticipated to constitute a key market share
In terms of regions, the global 3D machine vision market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.
Asia Pacific is anticipated to constitute a key market share. The market of the region has revenue share of greater than 38% in 2019 in the global market. The growth can be accounted to the opportunities in pharmaceutical, packaging, automotive, and other industrial applications in the region. Japan and China are major countries with the potential to offer significant opportunities for the technologies such as machine vision. The large number of manufacturing industries are boosting the growth of the regional market.
The initiative undertaken by the government of the countries such as India, Singapore, South Korea, and Taiwan are contributing to the development of the market in the region. The rise in investments in the R&D activities for the improvement of MV technology as well as related development. These factors are propelling the market in the region for new levels of development.
Segments Covered in the Report
The global 3D machine vision market has been segmented on the basis of
- PC Based
- Smart Camera Based
- Quality Assurance & Inspection
- Positioning & Guidance
- Pharmaceuticals & Chemicals
- Electronics & Semiconductor
- Pulp & Paper
- Printing & Labeling
- Food & Beverage
- Glass & Metal
- Postal & Logistics
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Sick AG
- Cognex Corporation
- ISRA Vision AG
- Keyence Corporation
- Basler AG
The key players in the global 3D machine vision market are Sick AG; Cognex Corporation; ISRA Vision AG; Keyence Corporation; and Basler AG. These key players have adopted a series of market strategies including new product launching, entering into partnership, collaboration, and production expansion to enhance their market position and expand their consumer base.