The vision sensor market is expected to grow from USD 2.5 billion in
2018 to USD 4.5 billion by 2023-growing at a compound annual growth
rate (CAGR) of 12.2%. Factors driving the demand for these sensors
include the growth of the electronics and electrical industry, the use
of machine vision technology in the automotive industry, and the focus
of manufacturing companies on cost and time savings.
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Increased inspection and code reading applications will boost market for less than 3D sensors during forecast period
For the vision sensor market by sensor type, less
than 3D vision sensors will hold the largest market share during the
forecast period. 1D and 2D vision sensors for inspection, 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. These sensors
will be in demand from APAC, Europe, and North America during the
forecast period.
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In application, tracking of products for safety and quicker transition will drive market for code readers during forecast period
The vision sensor market for code reading will grow
at the highest CAGR during the forecast period. Code reading will be a
crucial activity in industries such as food & beverages, packaging,
and logistics in the coming years. 1D or 2D code readers, fixed or
handheld code readers will play an important role in marking and
identifying products and tracking products on a conveyer belt or during
transit to the intended location. The increased demand for visions
sensors from automotive industry, and food & packaging industry is
likely to have a positive impact on the growth of the vision sensor
market for code reading applications during the forecast period.
In end-user industries, automotive industry will hold largest share during forecast period.
The automotive industry is expected to be the leading
end-user industry for vison sensors owing to the increasing demand for
these sensors in inspection, identification, and localization
applications. Inspection of various parts and components, identification
of faulty components, misalignment of parts and components, and guiding
robotic arms to perform complex tasks on the assembly line will be some
of the key applications that will boost the demand for vision sensors
from this industry. Increasing adoption of factory automation to reduce
manufacturing time and cost spent on inspection will boost the demand
for these sensors from North America, APAC, and Europe.
APAC is expected to be the fastest growing market during the forecast period
The automotive, pharmaceuticals, food & packaging
industries in the APAC region are showing significant growth in the
past few years. These have been fueled by the huge population shift and
an increase of disposable income, which has prompted a higher demand for
products in the APAC region. Manufacturers are looking to adopt
automation techniques in manufacturing to reduce costs, save time, and
improve product quality. These factors will continue to push the demand
for vision sensors in these industries in the APAC region during the
forecast period.
Major vendors in the vision sensor market include
Cognex (US), Teledyne (US), Keyence (Japan), Sick AG (Germany), Baumer
(Switzerland), Omron (Japan), Datalogic (Italy), Ifm Electronics
(Germany), Balluff (Germany), and Basler (Germany).
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Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
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