Global Vision Sensor Market: Global Trends, Opportunities, Challenges, Drivers, Future Strategies and Plans of Major Companies, Competitive Landscape and Forecast to 2028
The global vision sensor market growth is expected to incline from US$ XX Mn in 2019 to US$ XX Mn in 2028, growing at CAGR of XX.X%. For study of the market, 2018 is been considered as a base year and 2019 to 2028 as the 10-years forecast period. Research methodology implied in order to obtain estimated and forecast revenue of the global vision sensor market, begins with primary and secondary research regarding revenues of the major players operating in the global vision sensor market. In addition, the report provides region-wise and country-wise revenues of the target market. The report offers detailed information including product overview, types of products available, and their scope of application. The global vision sensor market report offers competitive scenario associated with prominent players in the target market on the basis of their revenue and geographical presence. To provide a simplified view of the industry, the global vision sensor market report has been segmented on the basis of type, application, end-use industry, and region.
Overview of the Product
Vision sensors are useful in determining presence, accuracy, and orientation of the parts of the images captured by the camera. Structure and design of vision sensor system comprises of an interface, display, video camera, and a computer processor for automation. Vision sensors are generally used in industrial plants to maintain product quality.
Market Dynamics: Positive and Negative Factors Impacting the Target Market
Vision sensors are being increasingly adopted by various industrial verticals such as food & beverages, automotive, medical, and general manufacturing industries to ensure uniform quality across and within the production batches. Considerably growing end-use industries and rising trend of automation of manufacturing processes are anticipated to drive growth of the global vision sensor market over the forecast period. Rapidly growing electronics and semiconductor industries, coupled with significant demand for electronics from consumers is expected to support growth of the target market.
Vision sensors are cost-effective and time-saving as compared to conventional quality control systems, and these sensors are considered to be an integral part of advanced manufacturing technologies such as industrial Internet of things (IoT). Increasing penetration of IoT and need for cost-effective options with high accuracy of work in industrial applications are factors expected to drive growth of the global market.
However, high costs associated with installation and maintenance of vision sensors is a major factor that could hamper revenue growth of the global vision sensor market.
Nevertheless, development of innovative vision sensors with advanced capabilities such as ability to work in harsh weather conditions and 3D vision sensors, along with increasing trend of barcodes scanning is expected to continue to support growth of the global vision sensor market in the next few years.
Among the type segments, the less than 3D segment is expected to account for major share in the global vision sensor market in terms of revenue over the forecast period.
Among the application segments, the inspection segment is anticipated to dominate in the target market in terms of revenue share. This can be attributable to rising demand for inspection of products and components in industries such as food & beverages, automotive, and pharmaceutical industry among others for detection of defects, incorrect fitting, and sorting of components on the manufacturing line.
By End-use Industry:
Among the end-use industry segments, the automotive end-use industry segment is expected to contribute major revenue share in the global vision sensor market. This can be attributed to growing trend of factory automation to reduce manufacturing cost and time spent on inspection of products.
The North America market is expected to account for major revenue share in the global market and register considerable CAGR over the forecast period. This can be attributed to growing number of smart factories or industry automation in the countries in the region, which is expected to result in higher demand for vision sensors. In addition, rapidly growing industries such as automotive and electronics & semiconductor industries in North America are expected to have a positive impact on demand and adoption rate of vision sensors and drive growth of the market in the region.
The Asia Pacific market is expected to register the highest growth rate in the global vision sensor market. Increasing automation of industries in economies such as Japan, China, and India, and growing electronics industry are expected to support growth of the Asia Pacific vision sensor market. The Europe market is projected to register moderate growth rate in the next 10 years.
Global Vision Sensor Market Segmentation:
Segmentation, by Type:
- 3D Vision Sensors
- Less than 3D Vision sensor
Segmentation, by Application:
- Code Reading
Segmentation, by End-Use Industry:
- Electronics & Semiconductor
- Food & Packaging
Segmentation, by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Omron Corporation
- Teledyne Technologies, Inc.
- Banner Engineering Corp.
- Baumer Holding AG
- Cognex Corporation
- International Filter Manufacturing Corp.
- Turck, Inc.
- Sick AG
- Carlo Gavazzi Holding AG
- Wenglor Sensoric GmbH
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