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Global 3D Machine Vision Market to Reach USD 2.9 Billion by 2027, Aided by the Increased Demand for Quality Inspection and Automation

According to a new report by EMR titled, ‘Global 3D Machine Vision Market Report and Forecast 2022-2027’, the global 3D machine vision market reached a value of about USD 1.6 billion in 2021. The industry is further expected to grow at a CAGR of 11.10% in the forecast period of 2022-2027 to reach a value of around USD 2.9 billion by 2027.

The 3D machine vision market is likely to be driven by the growing demand for quality inspection and automation in various industrial verticals. The market is likely to increase due to the demand for vision-guided robotic systems in the automotive, food and beverage, pharmaceutical and chemical, and packaging industries. Over the forecast period, the growth in demand for application-oriented machine vision systems is also boosting the adoption of the technology. Due to the rising need for efficient and reliable inspection and measurements, the technology is seeing widespread use in industrial processes and is rapidly replacing manual inspection and measurements. The rising use of automation in almost all industry verticals is also propelling global market expansion. The consumer electronics and automobile industries are seeing a surge in automation technique adaptation. As a result, 3D machine vision is predicted to be in high demand in these two industries. In addition, high instances of theft and increasing demand for global positioning systems will positively impact the positioning and guidance segment. This is expected to boost the global 3D machine vision industry.

Several key players are increasingly undergoing mergers and acquisitions and new industry entrants to expand their geographic presence and capture the escalating market potential. For instance, Basler AG (ETR: BSL) announced the acquisition of mycable GmbH, an embedded computing consulting firm, in June 2017. The acquisition was made to reduce clients' embedded vision technology integration processes and expand the company's market reach in the fast-growing field of embedded vision technology.

Market Analysis by Offering, Product, Applications, End-Use, and Regions:

  • Based on offering, the market is divided into hardware and software.
  • The products are divided into smart camera-based systems and PC-based systems.
  • The various applications of the market are quality assurance and inspection, positioning and guidance, measurement, and identification, among others.
  • The end-uses of the market are automotive, pharmaceuticals and chemicals, electronics and semiconductor, pulp and paper, printing and labeling, food and beverage (packaging and bottling), postal and logistics, among others.
  • The regional markets for 3D machine vision include North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa.

Key Findings of the Report:

  • The emerging and untapped markets of developing economies and rising demand for customised and application-specific 3D machine vision solutions are expected to provide growth opportunities to key players in the market.
  • Increasing investments and growing research and development further boosts the growth of the market.
  • Rapid industrialization, along with technological advancements, are driving the market growth.
  • The global demand for image processing, compactness, and high-quality images has been steadily increasing, bolstering the 3D machine vision market's growth prospects over the forecast period.
  • The increased awareness for defect-free products has spurred the demand for 3D machine vision in inspection-related manufacturing applications.

Key Offerings of the report:

  • The EMR report gives an overview of the global 3D machine vision market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecasted (2022-2027) markets for offering, product, applications, end use, and major regions of 3D machine vision.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global 3D machine vision industry are Cognex Corporation, ISRA Vision AG, TKH Group, Keyence Corporation, and MVTec Software GmbH, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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