Vision Sensor Market: Industry Analysis and Forecast (2024-2030)

The Vision Sensor Market size was valued at USD 4.3 Billion in 2023 and the Vision Sensor Market is expected to grow at a CAGR of 12.4% from 2024 to 2030, reaching nearly USD 9.75 Billion.
Vision Sensor Market Overview:
A vision sensor is a device that uses a camera to capture images of an object and analyse them to perform tasks like detecting defects, measuring size, and recognizing characters. The Vision Sensor Market is increasing rapidly, driven by advancements in automation and smart manufacturing. Vision sensors, crucial for tasks like quality control, object detection, and automation, are increasingly adopted across industries such as automotive, electronics, and pharmaceuticals. The growing advancement of automation systems is estimated to generate lucrative opportunities for the Vision Sensor industry, which is expected to increase the vision sensor market's growth rate through the forecasted period. Additionally, the integration of advanced technologies such as the Internet of Things (IoT) and artificial intelligence (AI) is expected to offer numerous growth opportunities in the Vision Sensor market.

April 24, 2024, Sony Semiconductor Solutions Corporation (SSS) announced that it has introduced and begun operating an edge AI-driven vision detection solution at 500 convenience store locations in Japan to improve the benefits of in-store advertising. SSS has been providing 7-Eleven and other outlets in Japan with vision-based technology to improve the implementation of digital signage systems and in-store advertising at their brick-and-mortar locations as part of their other Media 1 strategy. To help ensure that effective content is shown for brands and stores, this solution gives partners sophisticated tools to evaluate the effectiveness of advertising on their customers.
India exports Vision Sensors primarily to Japan, Germany, and Oman. Globally, the leading exporters of Vision Sensors are the United States, Japan, and China. The United States tops the list with 13,205 shipments, followed closely by Japan with 12,706 shipments. China ranks third, exporting 1,750 shipments.

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Vision Sensor Market Dynamics:
Growing Demand for Vision Sensors Fuelled by AI, Machine Learning, and Industry 4.0 Advancements in Automation

The demand for vision sensors is increasing as automation extends across industries. Vision sensors are essential in factories, allowing for activities such as product inspection, defect identification, and robot guidance. This ensures better quality control and efficiency in the production processes. Integration of AI and Machine Learning drive the Vision Sensor Market. The advent of artificial intelligence (AI) and machine learning (ML) algorithms has additionally improved the functionality and performance of machine vision systems, making them more versatile and effective in complex industrial environments. Machine learning algorithms enable vision sensors to learn from data and improve their performance over time, reacting to changing conditions and scenarios. This capacity is especially important in applications such as industrial automation, automated cars, and consumer electronics, where precise and dependable picture analysis is required.
The rise of Industry 4.0 is fuelling the demand for vision sensors by enhancing automation and data exchange in industrial processes. Vision sensors provide critical visual data for automated operations and intelligent decision-making. With advancements in machine vision technology, such as improved image processing and object detection, these sensors now perform more complex tasks with greater accuracy. This evolution positions vision sensors as a key enabler of smart manufacturing systems.

Industry 4.0 (Industrial Revolution)



The rising adoption of vision-guided robotic systems is also contributing to the growth of the vision sensor market. Vision-guided robots rely on machine vision sensors to navigate and perform tasks with high precision. Also, vision-guided robots permit the robotic application to categorize depending on object recognition. This categorization means that each object set off individual actions. For instance, in applications like robot bin picking, where the robot is expected to select objects retained haphazardly in a bin, 3D spatial analysis becomes requisite. X, Y, and Z coordinates are crucial for the robot to recognize the simplest objects to select without accidents.

Key Challenges Hindering Growth and Adoption in the Vision Sensor Market

The vision sensor industry faces several challenges that hinder growth and innovation. A major issue is market fragmentation, with numerous players offering similar products, making differentiation and gaining vision sensor market share difficult. Additionally, there is a shortage of skilled workers capable of effectively operating and maintaining vision sensor systems, as these technologies require specialized knowledge in machine vision and data processing. This expertise is not uniformly available across all regions, limiting the full potential of vision sensors for tasks like quality control and automation. Another challenge is the sensitivity of vision sensors to variations in lighting conditions. Inconsistent lighting significantly impacts the accuracy of data capture, requiring controlled environments to achieve optimal performance. These factors create barriers to the widespread adoption and utilization of vision sensors, particularly in regions lacking the technical workforce or infrastructure to fully integrate and maintain these advanced systems.
Vision Sensor Market Segment Analysis:
By End User, the automotive segment held the largest share in 2023 for the Vision Sensor Market. The automotive industry is expected to have a significant demand for vision sensors owing to the increasing demand for these sensors in identification, inspection, and localization applications. Analyzing different parts and components, pinpointing defective components, adjusting misaligned parts, and directing robotic arms to complete intricate tasks on the production line are key uses that are expected to increase the need for vision sensors in this Vision Sensor market.

Accelerating innovation in automotive vision technology is fuelling a transformation in advanced driver assistance systems (ADAS) and helping to enable the achievement of fully autonomous L5 vehicles. CMOS vision sensors are the best option for automotive applications since they operate at temperatures of up to 85 °C and have on-chip dynamic range-extension capabilities. Automakers frequently include vision sensors in high-end vehicles. As a result, the demand for vision sensors among automakers is rising, which is propelling this segment's revenue growth in the Vision Sensor Industry.

April 30, 2024, OmniVision, a leading global developer of semiconductor solutions, including advanced digital imaging, analog, and touch & display technology, announced two new CMOS global shutter (GS) image sensors for machine vision applications. OmniVision has created a new Machine Vision Unit, which is expected to focus on creating innovative solutions for industrial automation, robotics, logistics barcode scanners, and intelligent transportation systems (ITS).


Vision Sensor Market Ecosystem:

Vision Sensor Market Regional Insight:
Asia Pacific region held the xx % share for the Vision Sensor Market in 2023. Because of the rising automation to reduce manufacturing costs, and improve quality standards across various end-user industries in India and China. The government's incentives in the electronic manufacturing industry have led to an increase in domestic consumption and also significant growth in exports. As enterprises in the region attempt to improve production efficiency, maintain product quality, and meet demanding regulatory criteria, the use of advanced vision sensor technology grows. This growth is additionally supported by increasing investments in automation and Industry 4.0 efforts, placing the Asia-Pacific region as a significant driver of growth in the global vision sensor market.

Feb 19, 2024, Researchers at Beihang University in China have unveiled a revolutionary multi-camera vision sensor that promises to improve the accuracy and capabilities of robots and drones. This breakthrough sensor has the potential to transform industries that rely on precise visual measurements, including autonomous vehicles and motion-sensing technology.

• In March 2021, AMETEK, Inc., launched a New Phantom TMX High-Speed Camera; the key feature of this camera is that it can achieve 76,000 frames per second (fps) at a full 1-Megapixel (1-Mpx) resolution of 1280 x 800, over 300,000 fps at 1280 x 192 resolution, and over 770,000 fps at smaller resolutions. This high-speed camera can have various applications in industries like automotive and manufacturing.

Vision Sensor Market Competitive Landscape:

The competitive landscape of the vision sensor market is characterized by numerous global and regional players, each offering advanced technology and solutions for various industries. Key market leaders include companies like Cognex Corporation, OMRON Corporation, Keyence Corporation, Sick AG, and Baumer Group, which focus on continuous product innovations and strategic partnerships to enhance their market share.

Recent Development
• April 2024, OmniVision, a leading global developer of semiconductor solutions, including advanced digital imaging, analog, and touch & display technology, today announced the new OG09A10 CMOS global shutter (GS) sensor – the company’s first large-format GS solution for factory automation and intelligent transportation systems (ITS). The large-pixel, 3.45 µm backside-illuminated (BSI) stacked global shutter sensor, with its low readout noise and the highest quantum efficiency (QE) in its class, delivers excellent image quality, making it ideal for machine vision applications that require the ability to capture clear images of high-speed moving objects.
• Jan. 29, 2018, DENSO Corporation, announced it has developed a new standard vision sensor that detects pedestrians at night, cyclists, road signs, driving lanes, and other road users. Working in conjunction with a millimeter-wave radar sensor, the new vision sensor allows automobiles to automatically activate emergency braking when obstacles are identified, helping reduce accidents and improve overall vehicle safety.
• On October 16, 2019, Cognex Corporation purchased SUALAB, a well-known Korean provider of deep learning-based vision software for industrial applications. With this acquisition, the business will be able to provide manufacturers with unparalleled inspection solutions.

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Global Vision Sensor Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
USD 4.3 Bn.


Forecast Period 2024 to 2030 CAGR:
12.2%
Market Size in 2030:
USD 9.75 Bn.


 Segments Covered:
by Sensor type
Less Than 3D
3D


by Application
Inspection
Gauging
Code Reading & Localization


by End User Industry
Automotive
Electronics & Semiconductor
Pharmaceuticals
Food & Packaging
Others



Global Vision sensor Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Vision Sensor Market, Key Players:
North America
1. Omron Automation (USA)
2. Keyence Corporation (USA)
3. National Instruments (USA)
4. Teledyne DALSA (USA/Canada)
5. Banner Engineering (USA)
6. SICK AG (USA)
7. Vision Components (USA)
Europe
1. ABB Robotics (Switzerland)
2. Leuze Electronic (Germany)
3. Pilz GmbH & Co. KG (Germany)
4. STMicroelectronics (France)
5. Baumer Group (Switzerland)
6. Allied Vision (Germany)
7. Euchner (Germany)
Asia-Pacific
1. Keyence Corporation (Japan)
2. Sony Corporation (Japan)
3. Omron Corporation (Japan)
4. Panasonic Corporation (Japan)
5. STMicroelectronics (China )
6. Han's Robot (China)

FAQ
1. What is the growth rate of the Vision Sensor Market?
Ans. The Vision Sensor Market is growing at a significant rate of 12.4 % during the forecast period.

2. What is the expected Vision Sensor Market size by 2030?
Ans. Vision Sensor Market size is expected to reach USD 9.75 Billion by 2030.

3. What segments are covered in the Vision Sensor Market report?
Ans. The segments covered in the market report are Type, and End Users.

4. Which region dominates the Vision Sensor market?
Ans. Asia-Pacific leads the market, driven by strong electronics manufacturing in China, South Korea, and Taiwan.

5. What factors are driving the growth of the vision sensor market?
Ans: Key drivers include the rise of Industry 4.0, increased automation, advancements in AI and machine learning, and the demand for high-precision data.

6. Who are the top players in the vision sensor market?
Ans: Leading companies include Cognex Corporation, Keyence Corporation, Omron Automation, Basler AG.