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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Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
APAC to hold largest share of vision sensor market from 2018 to 2023
Asia Pacific (APAC) is expected to account for the
largest share of the overall vision sensor market in 2018 and is likely
to exhibit the highest CAGR during the forecast period. Major factors
driving the growth of the vision sensor market in APAC include the
increased spending on industrial automation to reduce manufacturing
costs, minimize time to market, and improve quality standards across
different end-user industries such as automotive, electronics, food
& beverages, and packaging.
Cognex (US), Keyence (Japan), Teledyne (US), Sick AG
(Germany), and Baumer Holdings (Switzerland) are among a few major
players in the vision sensor market.
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.
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.
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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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