Rockville, Feb. 23, 2023 (GLOBE NEWSWIRE) -- The global 3D machine vision market is expected to achieve a valuation of US$ 5 billion by 2033, expanding rapidly at 9.6% CAGR from 2023 to 2033, as per a new industry analysis by Fact.MR, a market research and competitive intelligence provider.
Machine vision is a technology that provides imaging-based automatic inspection and evaluation for applications such as process control, inspection, and robot guidance. Machine vision refers to a collection of technologies, actions, hardware products, software, and integrated systems. It differs from computer vision. Depending on the application, it is classified into two types: 2D and 3D machine vision systems.
3D machine vision is a technology that measures the three-dimensional surface of an object. This approach accurately measures complicated 3D freely created structures. Several cameras or laser displacement sensors are typically used in 3D machine vision systems. The technology has a wide range of applications and has already been utilized in a variety of industries for robotic guidance and automation, quality control and inspection, and mapping.
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Quality control inspection is an important part of the manufacturing process. Manual inspection is expensive in terms of labor, time-consuming, and error-prone. Consequently, companies are investing more in quality control systems to decrease losses and errors. Hence, manufacturers worldwide are embracing automation technologies.
Automation involves the usage of a set of programs or instructions to allow machines to perform a series of repetitive tasks with minimal manual intervention. Automation allows for mass production and thorough product testing. For example, a 3D machine vision system makes it easier to ensure that products are free of misaligned pieces, severe flaws, or missing components.
Moreover, demand for vision-guided robotic systems is surging. Vision-guided robotic systems combine 3D machine vision and industrial robots. This system is increasingly gaining popularity due to its high integration, adaptability, and ease of bin-picking capability.
While fixed robotic procedures were common, machine vision in industrial robots guides goods to a certain position or part for subsequent tasks like picking, placing, or welding. The ability of robots to see simplifies and saves manufacturing costs while maintaining high quality. Such aspects are projected to boost the global 3D machine vision market over the next ten years.
Key Takeaways from Market Study
- The global 3D machine vision market amounted to US$ 2 billion in 2023.
- Worldwide demand for 3D machine vision systems is forecasted to rise at a CAGR of 9.6% from 2023 to 2033 (forecast period).
- The market is anticipated to touch US$ 5 billion by the end of 2033.
- Asia Pacific held 38% of the global market share in 2022.
- Demand for smart camera-based systems is estimated to develop at a CAGR of 5.6% during the forecast period.
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Competitive Landscape
Key players in the 3D machine vision market are concentrating on tactics such as acquisitions, investments, new developments, and collaborations to gain market share. Furthermore, numerous start-ups are attempting to advance machine vision technologies which will contribute to market growth.
- Saccade Vision, an Israeli start-up, is developing a machine vision system for industrial automation. The start-up's technology allows dimensional inspection and robotic guidance using a micro-electromechanical system (MEMS)-based 3D triangulation profiler and 3D machine vision. It scans in several directions, with essential places chosen in high resolution, and optimizes data collecting and processing locally. Its adaptable design allows it to use the same inspection hardware for various parts and processes. Furthermore, the solution provides comprehensive process and machine health data to enhance manufacturing.
- In February 2022, Basler AG broadened its 3D range with an industrial-grade stereo camera series. Basler Stereo Cameras allow robots to grasp their surroundings in real time. The five model types are offered in 65-millimeter and 160-millimeter basic distances, as well as color and monochrome versions. All cameras come with a pre-installed, flexible onboard software package that is appropriate for common robotics applications like bin picking and object recognition.
Key Companies Profiled
- Basler AG
- Hermary Opto Electronics Inc
- Cognex Corporation
- Isra Vision AG
- LMI Technologies, Inc
- Keyence Corporation
Regional Analysis
Asia Pacific is leading the global 3D machine vision market. Asia Pacific is a worldwide manufacturing hub that is increasing the adoption of 3D machine vision systems. Furthermore, Japan and South Korea are making considerable contributions to the regional market.
Moreover, growing government efforts in emerging countries to promote FDI (Foreign Direct Investment) in the manufacturing sector are pushing the regional market growth.
Key Segments of 3D Machine Vision Industry Research
- By Product:
- Smart Camera-based
- PC-based
- By Offering:
- Hardware
- Software
- By Application:
- Quality Assurance & Inspection
- Positioning & Guidance
- Measurement
- Others
- By End Use:
- Automotive
- Pharmaceuticals
- Chemicals
- Electronics & Semiconductors
- Food & Beverages
- Agriculture
- Others
- By Region:
- North America
- Latin America
- Europe
- Asia Pacific & China
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global 3D machine vision market, presenting historical demand data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.
The study divulges essential insights on the market on the basis of product (smart camera-based, PC-based), offering (hardware, software), application (quality assurance & inspection, positioning & guidance, measurement, others), and end use (automotive, pharmaceuticals, chemicals, electronics & semiconductors, food & beverages, agriculture, others), across five major regions (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
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