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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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.
Automotive industry to account for largest size of vision sensor market from 2018 to 2023
The automotive industry is expected to be the key
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, which 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.
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Inspection and code reading applications will boost demand for less than 3D vision sensors during forecast period
Less than 3D sensors will hold the largest share of
the vision sensor market during the forecast period. The use of these
sensors in line scan, area scan, and inspection, gauging, code reading,
and localization applications across end-user industries such as
automotive, electronics & semiconductor, pharmaceuticals, food &
packaging will drive the market for these sensors. The demand from
these sensors will be high in APAC, Europe, and North America during the
forecast period.
Cognex (US), Keyence (Japan), Teledyne (US), Sick AG
(Germany), and Baumer Holdings (Switzerland) are among a few major
players in the vision sensor market.
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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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