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Meticulous Research Reveals Why the 3D Machine Vision Market is growing at a CAGR of 10.2% to reach $2.65 Billion by 2027

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Meticulous Research Reveals Why the 3D Machine Vision Market is growing at a CAGR of 10.2% to reach $2.65 Billion by 2027

September 07
21:13 2021
Meticulous Research Reveals Why the 3D Machine Vision Market is growing at a CAGR of 10.2% to reach $2.65 Billion by 2027
The 3D machine vision market is expected to grow at a CAGR of 10.2% from 2020 to 2027 to reach USD 2.65 billion by 2027, from USD 1.35 billion in 2020.
3D Machine Vision Market by Component (Hardware, Software), Product, Application, End-User (Industrial (Automotive, Electronics & Semiconductor, Food & Beverage), Commercial (Healthcare, ITS), Government), and Geography – Global Forecast to 2027

3D machine visions have become an integral part of smart factories and vision-guided robots. These systems enable image processing, which is further used for automated inspection, robotic guidance, positioning, and sorting. 3D machine visions are extensively used in industrial, commercial as well as government sectors. In its latest publication on the 3D machine vision market, Meticulous Research states that the market will increase at a CAGR of 10.2% from 2020 to 2027 to reach USD 2.65 billion by 2027.

The 3D machine vision market’s growth is mainly attributed to factors such as rising demand for automated quality inspection technologies, increasing demand for vision-guided robotic systems, and the advent of industry 4.0. Moreover, growing automation in developing countries and increasing government initiatives to support industrial automation provide significant growth opportunities for players operating in the 3D machine vision market.

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Scope of the Report

3D Machine Vision Market By Component

  • Hardware
    • Cameras
    • Frame Grabbers
    • Optics
    • Lighting
    • Others
  • Software

3D Machine Vision Market By Product

  • PC-based
  • Smart Camera

3D Machine Vision Market By Application

  • Quality Assurance & Inspection
  • Positioning & Guidance
  • Measurement
  • Identification
  • Sorting

3D Machine Vision Market By End User

  • Industrial
    • Automotive
    • Pharmaceuticals & Chemicals
    • Electronics & Semiconductor
    • Printing & Labeling
    • Food & Beverage
    • Glass & Metal
    • Others
  • Commercial
    • Healthcare
    • Intelligent Transportation Systems
    • Logistics
  • Government
    • Security & Surveillance
    • Military & Defense

3D Machine Vision Market By Geography

  • North America
    • U.S
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific (APAC)
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • Latin America
  • Middle East and Africa

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To provide efficient analysis, Meticulous Research has segmented this market on the basis of the component (hardware (camera, frame grabbers, optics, lighting, others), software), product (PC-based, smart cameras), application (quality assurance & inspection, positioning & guidance, measurement, identification, and sorting), and end user (industrial (automotive, pharmaceuticals & chemicals, electronics & semiconductor, printing & labeling, food & beverage, glass & metal, others), commercial (healthcare, intelligent transportation system, logistics), government (security & surveillance, military & defense)), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).

On the basis of component, the 3D machine vision market is segmented into hardware and software. In 2020, the hardware segment is expected to command the largest share of the 3D machine vision market. The hardware segment is further sub-divided into cameras, frame grabbers, optics, lighting, and others. The cameras segment is expected to contribute the largest revenue share in 2020. The software segment is expected to grow at the highest CAGR during the forecast period. This is due to the increasing demand for new and upcoming software for varied applications of 3D machine vision systems.

By product, the PC-based segment is expected to command the largest share of the market in 2020. This segment experiences high demand due to the benefits such as high processing power and the capability of handling complex operations. However, the smart cameras segment will grow at a faster CAGR during the forecast period due to factors such as low cost and compact design.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/3D-machine-vision-market-5138

The sorting segment is estimated to grow at the highest CAGR during the forecast period based on application. The increasing use of 3D machine vision for sorting applications in the food and beverage sector is one of the major drivers for this segment’s growth.

By end user, the market is segmented into industrial, commercial, and government segments. Under the industrial segment, the automotive sub-segment is poised to account for the largest share of the market in 2020. This segment’s large share is primarily attributed to the extensive implementation of 3D machine vision in automotive manufacturing facilities to serve applications such as component checking, error proofing, and assembly verification. However, the food and beverage segment is projected to grow at the highest CAGR during the forecast period. The intelligent transportation systems segment is expected to grow at the highest CAGR during the forecast period under the commercial segment. This is due to the rising application of 3D machine vision in autonomous vehicles.

In 2020, Asia-Pacific is estimated to account for the largest share of the market, followed by Europe and North America. Asia-Pacific is the largest manufacturing hub. High production and application of robotics have resulted in the largest share and significant growth during the forecast period.

Key Players

The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players in this market, including Cognex Corporation (US), Keyence Corporation (Japan), ISRA Vision AG (Germany), Sick AG (Germany), Basler AG (Germany), Omron Corporation (Japan), National Instruments (US), LMI Technologies (Canada), Sony Corporation (Japan), Stemmer Imaging (Germany), Teledyne Technologies (US), Canon Inc. (Japan), Torvidel AS (Norway), Balluff GmBH (Germany), and Industrial Vision System (UK).

Amidst this crisis, Meticulous Research® is continuously assessing the impact of COVID-19 pandemic on various sub-markets and enables global organizations to strategize for the post-COVID-19 world and sustain their growth. Let us know if you would like to assess the impact of COVID-19 on any industry here-https://www.meticulousresearch.com/custom-research

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

Media Contact
Company Name: Meticulous Market Research Pvt Ltd
Contact Person: Khushal Bombe
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Phone: +1 646-781-8004
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Country: United States
Website: www.meticulousresearch.com

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