The global 3D Machine Vision market size is expected to be worth around US$ 3.45 billion by 2028, according to a new report by Vision Research Reports.
The global 3D Machine Vision market size was valued at US$ 1.12 billion in 2020 and is anticipated to grow at a CAGR of 14.6% during forecast period 2021 to 2028.
Growth Factors
The ability of 3D machine vision systems to process a large amount of information in a fraction of seconds is a major factor driving the market growth. The quick processing ability of 3D machine vision systems is paving the way for manufacturers to achieve new milestones in manufacturing products with negligible defects. Moreover, the increasing adoption of robots across industrial sectors is leading toward the application of vision-guided robotic systems. Industrial verticals, such as automotive, pharmaceutical, packaging, and food and beverage, are prominent sectors where robotic systems are used, eventually fueling the demand for machine vision systems.
The 3D machine vision technology encompasses various components in order to capture images of products to analyze them depending on different parameters of quality and safety. The technology is a combination of software and hardware that provides operational control to devices to execute functions such as capturing and processing of images and measuring various characteristics required for decision making. Major components of the system comprise lighting, lens, image sensors, vision processing, and communication devices. 3D Machine vision systems assist in resolving complicated industrial tasks with reliability.
Industrial machine vision systems are usually more robust and demand high reliability, stability, and accuracy as compared to those used in institutional or educational applications. They cost lesser than systems used in military, aerospace, defense, and government applications. These factors are expected to lead to greater adaptability of the technology in industrial sectors. In addition, the robotic vision systems used across the industries are also leading to the increasing adoption of the technology, thereby strengthening the overall market.
Report Highlights
Hardware led the 3D machine vision market and accounted for more than 69.01% of the revenue share in 2019. Hardware components comprise several objects such as cameras, sensors, processors, frame grabbers, optics, and others. Cameras held the largest share in 2019, which is attributed to the increasing demand for complementary metal-oxide-semiconductor (CMOS) imaging sensors. This, in turn, is anticipated to result in the growth of the hardware sub-segment.
PC-based products led the market and accounted for around 55.01% share of the global revenue in 2019. The segment is anticipated to continue growing and lead the market in terms of revenue over the estimated duration. However, the smart camera-based systems are projected to exhibit a robust growth rate over the forecast period. The segment is subjected to grow at the fastest CAGR of around 15.0% from 2018 to 2025. This considerable growth of the segment is attributed to the growing adoption of cameras in 3D imaging.
The automotive segment led the market and accounted for around 18.01% share of the global revenue in 2019. 3D Machine Vision in the automotive industry is extensively used for inspection purposes which include presence-absence checking, error proofing, assembly verification, and final inspection. Besides, the MV system is also used for dimensional gauging, robotic guidance, and testing automation purposes which comes under the measure, gauge, and guide applications. Therefore, the demand for mechanized imaging is significant across the automobile sector and is anticipated to continue growing steadily over the coming years.
Quality Assurance and Inspection led the market and accounted for around 52.01% share of the global revenue in 2019. The systems are extensively used for scanning and identifying labels, barcodes, and texts, especially in the packaging sector. This automates packaging activities, thereby saving time, avoiding human errors, and increasing efficiency. The technology is frequently used in the consumer goods, pharmaceutical, and packaging sectors. The adoption of technology in these sectors has resulted in reduced counterfeit products to a large extent, eventually serving the overall market to gain traction for increased adoption.
Identification using machine imaging is also used in camera surveillance, monitoring traffic, or recognizing number plates for security purposes. The identification segment is expected to expand at a rapid CAGR of 15.6% from 2020 to 2027 owing to several advantages and opportunities offered to the technology worldwide. The quality assurance and inspection segment are projected to expand at a steady CAGR of 14.3% from 2020 to 2027.
Asia Pacific accounted for the largest revenue share of more than 38.01% in 2019 and is expected to maintain its lead over the forecast period. This growth can be accredited to the lucrative opportunities in automotive, packaging, pharmaceutical, and other industrial applications in the region. As the region is establishing itself to become a global manufacturing hub, the technology is anticipated to gain significant traction over the forecast period. China and Japan are prominent countries having the potential to offer extensive opportunities for the emerging as well as mature technologies such as machine vision. The numerous manufacturing industries are contributing to the growth and prosperity of the region’s overall economic development.
Key Players
Cognex Corporation
Keyence Corporation
Sick AG
ISRA Vision AG
Basler AG
Market Segmentation
Offering Outlook
Hardware
Software
Product Outlook
PC Based
Smart Camera Based
Application Outlook
Quality Assurance & Inspection
Positioning & Guidance
Measurement
Identification
End-use Outlook
Automotive
Pharmaceuticals & Chemicals
Electronics & Semiconductor
Pulp & Paper
Printing & Labeling
Food & Beverage (Packaging and Bottling)
Glass & Metal
Postal & Logistics
Others (Agriculture, Security & Surveillance, Rubber, Plastics, Solar Paneling, Machinery, and Others)
Regional Outlook
North America
The U.S.
Canada
Mexico
Europe
The U.K.
Germany
France
Italy
Spain
Asia Pacific
China
Japan
India
South Korea
Singapore
South America
Brazil
The Middle East & Africa
The 3D Machine Vision market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of 3D Machine Vision market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global 3D Machine Vision market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the 3D Machine Vision market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted 3D Machine Vision market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the 3D Machine Vision capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of 3D Machine Vision by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global 3D Machine Vision market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major 3D Machine Vision market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of 3D Machine Vision market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the 3D Machine Vision industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The 3D Machine Vision 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 3D Machine Vision market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of 3D Machine Vision market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new 3D Machine Vision market. These factors have benefited the growth of the global market for 3D Machine Vision. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for 3D Machine Vision. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of 3D Machine Vision are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers