“3D machine vision market is expected to grow at a CAGR of 11.07% between 2017 and 2022”
The 3D machine vision market is expected to be valued at USD 2.13 billion by 2022, growing at a CAGR of 11.07% between 2016 and 2022. The market growth can be attributed to the increasing applications of 3D machine vision in the automotive and electronics industries. The recent advancements in the 3D machine vision technology, such as smart cameras and various imaging technologies have widened the scope of 3D machine vision in the industrial and non-industrial sectors. Some of the key factors driving the growth of this market are integration of 3D vision systems with robot controllers, rising demand for 3D object analyses in manufacturing applications, and increasing demand for non-industrial 3D machine vision systems. The major factors restraining the growth of the market include the changing requirements of customers and the lack of awareness and technical knowledge pertaining to 3D machine vision systems and solutions.
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“PC-based systems are expected to hold the largest size of the market during the forecast period.”
PC-based systems are expected to hold the largest size of the market during the forecast period as these systems are preferred for complex inspection tasks or when a significant number of cameras are required for inspection-related tasks. A PC-based system provides higher processing power than an embedded smart camera processor. However, due to the decreasing costs of smart cameras and the increasing efficiency of operations, the market for smart camera-based systems is expected to grow at a higher rate than the market for PC-based systems.
“Hardware offerings held a major share of the 3D machine vision market in 2016.”
The hardware components in a machine vision system include cameras, frame grabbers, lighting, optics, and others. Camera is the principal component among the other components in the machine vision systems. The hardware offerings held a larger share of the 3D machine vision market in 2016 than the software offerings, and the trend is expected to remain the same during the forecast period.
“APAC is likely to be the fastest-growing market for 3D machine vision during the forecast period.”
The 3D machine vision market in APAC is expected to grow at a high rate during the forecast period. Factors such as the high adoption rate of new technologies decrease in manual inspection of goods, and increasing need for high-quality products are contributing to the growth of the 3D machine vision market in APAC.
The 3D machine vision market, in this report, has been segmented on the basis of vertical, offering, product, application, and geography. The market on the basis of vertical has been segmented into industrial and non-industrial. The 3D machine vision market, by offering, comprises hardware and software.
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The report would help the market leaders/new entrants in this market in the following ways.
1. This report segments the 3D machine vision market comprehensively and provides the closest approximations of the overall market size and those of the subsegments across different applications and regions.
2. The report would help stakeholders understand the pulse of the market and provide them with the information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers and acquisitions carried out in the market.
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