3D Machine Vision Market Overview
3D machine vision is a form of machine vision technology that is used to capture and analyze three-dimensional image data. Unlike traditional 2D machine vision, which captures only height and width information, 3D machine vision captures depth information as well. This technology can be used for a wide range of applications, including quality control and inspection, robot guidance and navigation, and measurement and analysis of complex surfaces and objects.
The 3D Machine Vision Market Growth was valued at USD 1.95 billion in 2022. The 3D Machine Vision market industry is projected to grow from USD 2.12 Billion in 2023 to USD 3.59 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.12% during the forecast period (2023 - 2030).
Key Drivers and Primary Deterrents
3D machine vision technology is observing high demand in industrial operations and is expected to completely replace manual inspections and measurements. The rising need for reliable and efficient inspection and measurements boosts the demand for the technology across a number of industries such as textiles, pharmaceuticals and more.
The rapidly mounting requirement for vision-guided robotic systems in food beverage, pharmaceutical chemical, packaging and automotive industries is deemed to be a key growth booster in the market. The escalating demand for the 3D machine vision technology that is application-oriented also works in favor of the worldwide market.
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Market Segmentation
The main components included in the study are hardware (Communication Device, Control Cabinet, Camera, and others) as well as software. In 2018, the lead was taken by the hardware segment, while the fastest growth rate can be procured by the software segment in the years ahead.
The product-wise market categories are smart camera-based as well as PC based. In 2018, the PC-based segment held the highest share in the market and was valued at USD 704.30 million, while the smart camera-based segment is anticipated to gain at the fastest rate during the review timeframe.
The applications considered in the report include gauging, inspection, identification and guidance. In the year 2018, the inspection segment dominated the market, whereas the gauging segment stood second. The sane year, it was estimated that the identification segment can attain the highest CAGR in the following years.
The verticals that use vision systems are food and packaging, semiconductor, automotive, healthcare, consumer electronics, and more. In 2018, the automotive segment recorded the highest growth and the consumer electronics section held the second highest value in the global market. However, it is expected that the food and packaging segment can post the fastest CAGR over the next few years.
Regional Insight
The report throws light on the machine vision diagram and the growth prospects across the regions of Asia Pacific or APAC, Europe, North America, and RoW/the rest of the world.
APAC can manifest into the most profitable market for 3D machine vision systems, resulting from the high concentration of renowned firms and the massive advancements in automation. Increasing penetration of automation in multiple industries, especially in consumer electronics and automotive has played a significant role in the market development across the region. With some of the most widely recognized players present in China, South Korea and Japan, the 3D machine vision market in APAC is bound to generate high revenues in the years ahead.
North America is technically more successful compared to its counterparts, with strong support from global companies and economically sound countries like Canada and the United States/US. The frequent technology-based innovations along with the heavy expenditure on research and development for building advanced manufacturing processes induce business growth in the region. The accelerated deployment rate of robotics across various industries adds to the region’s growth potential as well.
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Latest News
2 June 2020: Berkshire Grey, an AI and robotics vendor has made available its Robotic Induction Station solutions, which is based on the machine vision technology. The RIS system helps automate various operational tasks to avoid labor constraints, which can facilitate social distancing in distribution operations, and lead to optimum use of the existing material handling assets.
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