New York, United States, Nov. 10, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “3D machine vision market Research Report by Component, Application, Product, and Region – Forecast to 2030, the market is expected to acquire a valuation of around USD 3.56 billion by the end of 2030. The reports further predict that the market will thrive at a robust CAGR of over 9.12% over the review period.
Global 3D machine vision market overview:
It is likely to use a 3D machine vision system to obtain data and observe machines or procedures using various techniques to obtain data and supervise machines or processes.
3D Machine Vision Market Competitive Analysis:
The catalog of major participants in the global 3D machine vision market includes players such as:
- Basel AG (Germany)
- OMRON Corporation (Japan)
- Robotic Vision Technologies, Inc. (USA)
- Canon Inc. (Japan)
- Sony Corporation (Japan)
- Cognex Corporation (USA)
- Coherent, Inc. (USA)
- National instruments (United States)
- Hermary Opto Electronics Inc. (Canada)
- Keyence Corporation (Japan)
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Scope of 3D Machine Vision Market Report:
|Revenue forecasts in 2030||$3.56 billion|
|Rate of growth||CAGR of 9.12% from 2022 to 2030|
|Year of reference||2021|
|Key market opportunities||The increasing need for 3D vision in robot controllers|
|Key Market Drivers||The use of industrial robots for automation in the automotive and consumer electronics sectors has grown at a rapid pace in recent years.|
Browse the in-depth market research report (128 pages) on the 3D machine vision market:
3D Machine Vision Market Covered USP
3D Machine Vision Market Drivers
The global 3D machine vision market has witnessed considerable growth in recent times owing to factors such as growing need for 3D vision in life support in automotive and consumer electronics industries and increase in the use of automation in vision and 3D applications.
Constraints of the 3D machine vision market
On the contrary, the shift from product uniformity to product customization is likely to limit the market growth.
Impact of COVID-19
The global 3D machine vision market has recently faced several unexpected challenges, considering the arrival of the global health crisis in the form of COVID-19. On the other hand, with the global business returning to normal, the global market is expected to grow significantly during the assessment period.
3D machine vision market segment analysis
Among all the offerings, the hardware segment is expected to take the leading position in the global 3D machine vision market during the review period. Hardware components include optics, cameras, LED lighting, sensors, frame grabbers, processors, and others. Cameras have obtained the maximum market share in recent years, given the growing demand for complementary metal-oxide-semiconductor (CMOS) imaging sensors. On the other hand, the software segment is expected to show the highest growth rate over the next few years. Training and deep learning of technology are the central aspects supporting the growth of the segment.
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Among all the products, the PC-based products segment is expected to hold the largest share in the global 3D machine vision market during the review period. On the contrary, smart camera-based systems are likely to experience substantial growth over the next few years. increasing implementation of cameras in 3D imaging is considered to be the central aspect supporting the growth of the segment. 3D MV systems include different cameras. Sometimes, depending on the need, these cameras travel the assembly lines to monitor and evaluate products and capture data. This leads to better implementation of smart cameras in these systems. Reduced human interference has resulted in reduced errors and increased accuracy when inspecting tags and labels. These parameters are driving the implementation of the technology in several industry sectors, driving the growth of the segment.
Among all the end users, automotive segment is expected to take the leading position in the global 3D machine vision market during the review period. 3D machine vision in the automotive industry is widely implemented for inspection purposes, including presence and absence verification, final inspection, assembly verification, and error detection. . Apart from this, the MV system is also used for dimensional gauging, test automation and robotic guidance, which fall under measurement, guidance and gauge applications. Thus, the demand for mechanized imaging is significant in the automotive market and is expected to grow steadily over the next few years. The demand in the food and beverage industry is expected to show the maximum growth rate in the coming years. 3D MV systems in the food industry are widely used in packaging and bottling operations.
Among all the application areas, the quality assurance and inspection segment is expected to take the leading position in the global 3D machine vision market during the review period. The systems are widely used to scan and identify labels, texts and barcodes, especially in the packaging sector. This automates packaging activities, which saves time, increases efficiency, avoids human error and saves time. The technology is commonly used in the consumer goods, packaging and pharmaceutical industries. The implementation of the technology in these sectors has led to a massive reduction in counterfeit products, eventually reaching out to the entire market to gain momentum for increased adoption.
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3D Machine Vision Market Regional Analysis
The global 3D machine vision market is analyzed across five major regions: North America, Asia-Pacific, Latin America, Europe, Middle East & Africa.
According to MRFR’s analysis reports, the Asia-Pacific region secured the top spot in the global 3D machine vision market in 2019. The region contributed more than 38% of net sales and is expected to recall its dominance throughout year-round projection. . The growth of the regional market is mainly attributed to the numerous lucrative opportunities in the pharmaceutical, packaging, automotive and other industrial sectors in the region at present. As the region develops as a global industrial hub, the technology is expected to gain significant momentum during the review period. Japan and China are two major contributors to global growth, given new and established technology. Several industrial sectors increase the growth and wealth of the region’s overall economic development by boosting efficiency and productivity.
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