3D Machine Vision Market Worth USD 2.65 billion by 2027 -Exclusive Report Covering Pre and Post COVID-19 Market Analysis by Meticulous Research®

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

London, Nov. 02, 2020 (GLOBE NEWSWIRE) -- According to a new market research report titled,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”, the 3D machine vision market is expected to grow at a CAGR of 10.2% from 2020 to 2027 to reach $2.65 billion by 2027.

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The 3D machine vision market is driven by the rising demand for automated quality inspection technologies, increasing demand for vision-guided robotic systems, and the emergence of Industry 4.0. However, depth errors caused due to shiny surface and complexity in integrating 3D machine vision systems are hampering the growth of this market to some extent.

Impact of COVID 19 on the 3D Machine Vision Market

The COVID-19 pandemic shook the manufacturing industry profoundly in 2020. The simultaneous supply and demand shock due to shutdowns led to extremely deep slumps. The effects of this pandemic are expected to create varying levels of crisis among different sub-sectors. Machinery and industrial automation are not expected to be affected equally by the crisis as demand is derived from various sectors.

However, the COVID-19 pandemic is likely to accelerate the development and implementation of automation technologies because of greater incentives to substitute capital for labor. Robots and smart technologies have great potential for disease surveillance and contact tracing, diagnosing COVID-19 without contact, and even disinfecting contaminated areas such as hospitals and public spaces. The machine vision vendors and imaging associations expect optimistic scenarios, and fast recovery is expected by 2021. China has also recovered reasonably post restrictions as there had been an increase in demand for vision technology, specifically in consumer electronics for new applications.

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Based on component, the hardware segment is estimated to account for the largest share of the overall 3D machine vision market in 2020. Under hardware segment, the cameras category is expected to contribute to the largest share in 2020. Cameras play one of the most important roles in 3D machine vision systems for capturing 3D images. Therefore, the rising need for high-quality images coupled with quick image processing, is bolstering its demand. However, the software segment is expected to grow at a faster 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.

Based on product, the PC-based segment is projected to account for the largest share of the overall 3D machine vision market in 2020. The large share of this segment is primarily attributed to its high processing power and capability of handling complex operations at relatively high speed. However, the smart cameras segment is expected to grow at a higher CAGR during the forecast period.

Based on application, the quality assurance and inspection segment is expected to command the largest share of the overall 3D machine vision market in 2020. Under this application, 3D machine vision systems detect defects, functional flaws, contaminants, and other irregularities in manufactured products. Furthermore, the system is also used for inspecting product completeness in the pharmaceutical, food & beverage, and plastics industry.

Based on end user, the overall 3D machine vision market has been segmented into industrial, commercial, and government. Under the industrial segment, the food & beverage sector is projected to grow with the fastest CAGR during the forecast period. One of the key factors driving the growth of this segment is the rapid adoption of 3D machine vision systems for pick and sort applications in this sector. The automotive segment is poised to be the largest revenue-generating segment in 2020. The intelligent transportation system segment will grow at a significant growth rate under the commercial segment during the forecast period. Under the government segment, security and surveillance contributed to the larger share in the market.
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This research report analyzes major geographies and provides a comprehensive analysis for North America (U.S. and Canada), Europe (Germany, U.K., France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and Rest of Asia-Pacific), Latin America, and the Middle East & Africa. In 2020, Asia-Pacific region is projected to command the largest share of the global 3D machine vision market, followed by Europe and North America. The large share in the Asia-Pacific region is mainly attributed to the growth of manufacturing industries and the rapid implementation of robotic processes in Japan and China. The region is also expected to grow at a significant CAGR during the forecast period. This is due to the implementation of several Industry 4.0 initiatives. Also, the rapid adoption of vision-guided robotics (VGR) is also driving the growth of the market.

The key players operating in the global 3D machine vision market are Cognex Corporation (U.S.), Keyence Corporation (Japan), ISRA Vision AG (Germany), Sick AG (Germany), Basler AG (Germany), Omron Corporation (Japan), National Instruments (U.S.), LMI Technologies (Canada), Sony Corporation (Japan), Stemmer Imaging (Germany), Teledyne Technologies (U.S.), Canon Inc. (Japan), Torvidel AS (Norway), Balluff GmBH (Germany), and Industrial Vision System (UK) among others.

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/


3D Machine Vision Market by Component

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

3D Machine Vision Market by Product

  • PC-based
  • Smart Cameras

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 System
    • Logistics
  • Government
    • Security & Surveillance
    • Military & Defense

3D Machine Vision Market by Geography

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

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