Vision sensor Market – Global Industry Analysis and Forecast (2023-2029)

Vision sensor Market size was valued at US$ 3.96 Bn. in 2022 and the total revenue is expected to grow at 12.2 % through 2023 to 2029, Vision sensor Market is reaching nearly US$ 8.86 Bn. by 2029.
Vision sensor Market Overview:
A vision sensor system is a type of image processing system that is utilised for a certain task. Before initiating a response, the vision sensor takes images and analyses them using image processing algorithms. A video camera, a display and interface, and a computer processor are all common components of vision sensors. Smart cameras are created when vision sensors are paired with an integrated processor. Vision sensors, in essence, use images to identify the presence, direction, and accuracy of objects in the immediate surroundings. In these sensors, image acquisition and image processing are merged. A single sensor can also be used to perform multi-point inspections.
Vision sensor Market Snapshot
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Global Vision sensor Market Dynamics:
A prominent trend in the market is the increasing need for smart vision sensors. The need for smart vision sensors is developing globally as a result of rapid advances in technologies such as artificial intelligence (AI), big data, and cloud, the vision sensor uses deep learning and AI to let industries quickly automate the inspection process, lowering cost, time, and money while tackling complicated inspection challenges. For example, EyeSens vision sensors, were created by EVT Eye Vision Technology GmbH to assist users with pick-and-place applications using a universal robot.

The rise of the electronics and semiconductor industry, as well as strong consumer demand for electronics, are driving the vision sensors market forward. Another major factor projected to drive market expansion is the increased demand for vision sensors in the automotive industry for use in part detection and measurement. High product innovation in vision sensors, such as operating capabilities in hostile environments and 3D vision sensors from key companies, as well as fast growing advanced automation technology and the expanding automotive industry, are expected to drive market expansion. In October 2019, Baumer (Switzerland) launched its new CMOS-based GigE and USB 3.0 CX polarization camera series. The high costs involved with the installation and maintenance of vision sensors, on the other hand, are a major problem that could stifle market expansion.

These sensors are likely to be widely adopted in the packaging industry. Packaging firms are improving their operations to assure the highest quality as the world's population grows and its income rises, increasing demand for packaged food and other items. Vision sensors are used to evaluate label placement, read codes to ensure they are correctly recorded, check whether a bottle's seal is in place, and maintain packaging shape and size consistency, such as the shape of all the soda cans on a conveyor.
Global Vision sensor Market Segment Analysis:
Based on Sensor, the market is sub segmented into Less Than 3D Vision Sensors, 3D Vision Sensors and Others. By 2029, less than 3D vision sensors are expected to hold the largest market share of xx%. 1D and 2D vision sensors for check, gauging, code reading, and localization applications across end-user industries such as automotive, electronics & semiconductor, pharmaceuticals, food & packaging will propel the demand for these sensors. During the forecast period, these sensors will be in high demand in APAC, Europe, and North America.

Based on Industry, the market is sub-segmented into Automotive, Electronics & Semiconductor, Consumer Electronics, Pharmaceuticals, Food & Packaging and Others. The growing demand for vision sensors in identification, inspection, and localization applications, the automobile sector is likely to have a substantial demand for these sensors. Examining diverse parts and components, identifying broken components, misaligning parts and components, and guiding robotic arms to conduct complex jobs on the assembly line are all essential applications that will drive demand for vision sensors in this industry.

One of the most important requirements for enhancing the manufacturing processes of robotics, industrial machinery, and processing setups is industrial digitalization. DENSO Corporation, a multinational automotive components maker based in Kariya, Japan, has created a miniaturised stereo vision sensor that improves compact vehicle safety. The sensor is used in Daihatsu Tanto's Smart Assist III collision avoidance system and is the world's smallest car stereo vision sensor.
Global Vision sensor Market Regional Insights:
Vision sensors are expected to grow rapidly in the Asia-Pacific area. Increased spending on industry automation to reduce manufacturing costs, minimize time to market, and improve quality standards across various end-user industries such as automotive, electronics, food & beverages, and packaging are major factors driving the growth of vision sensors in the Asia-Pacific region.

In recent years, the pharmaceutical, automotive, food, and packaging industries in the region have experienced tremendous expansion. These have been propelled by a massive population movement and an increase in disposable income, resulting in increased product demand in the region. Manufacturers are looking to automate their processes in order to save money, time, and increase product quality. During the forecast period, these factors will continue to drive demand for vision sensors in these industries in the APAC region.

The objective of the report is to present a comprehensive analysis of the global Vision sensor Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the global Vision sensor Market dynamics, structure by analyzing the market segments and project the global Vision sensor Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Vision sensor Market make the report investor’s guide.
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Global Vision Sensor Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 3.96 Bn.


Forecast Period 2023 to 2029 CAGR:
12.2%
Market Size in 2029:
US $ 8.86 Bn.


 Segments Covered:
by Sensor type
Less Than 3D Vision Sensors
3D Vision Sensors
Others


by Industry
Inspection
Gauging
Code Reading
Localization


by Application
Automotive
Electronics & Semiconductor
Consumer Electronics
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)
Global Vision sensor Market, Key Players are
1.Cognex Corporation
2. Teledyne Technologies
3. Keyence Corporation
4. Sick AG
5. BalluffGmhH.
6. Baumer Holding A
7. Ifm Electronic GmhH
8. Leuze Electronic GmhH + Co Kg.
9. Pepperl FuchsGmhH
10. Hans TurckGmhH& Co. Kg
11. Omron Microscan Systems
12. Basler AG.
13. Datalogic SPA
14. SensopartGmhH
15. Wenglor Sensoric AG
16. Aquifi
17. XimeaGmhH
18. Micro-Epsilon MesstechnikGmhH Co. Kg
19. Isra Vision
20. Sualab
21. Qualitas Technologies

Frequently Asked Questions:

1) What was the market size of Global Vision sensor Market markets in 2022?
Ans - Global Global Vision sensor Market was worth US$ 3.96 Bn in 2022.

2) What is the market segment of the Vision sensor Market?
Ans -The market segments are based on Sensor type, Industry and Application.

3) What is the forecast period considered for Global Vision sensor Market?
Ans -The forecast period for Global Vision sensor Market is 2023 to 2029.

4) What is the market size of Global Vision sensor Market markets in 2029?
Ans – Global Market is estimated as worth US$ 8.87 Bn.

5) Which region is dominated in Global Market?
Ans -In 2022, the Asia pacific region dominated the Global Market.