Knowledge Sourcing Intelligence announces the publication of a new report on “3D Machine Vision Market - Forecasts from2020 to 2025" to their offering.
3D machine vision is a technology that is widely used for the inspection and the measurement of complex 3D formed surfaces. The market for 3D machine vision is expected to grow on account of the burgeoning requirements for testing and inspection across several industry verticals.
According to the report, the 3D Machine Vision Market is projected to increase at a CAGR of 8.27% in the coming years.
Booming adoption across different industry verticals
The 3D Machine Vision Market is expected to grow steadily throughout the forecast period on account of the growing demand from the electronics and automotive industry. the burgeoning requirements for flaw detection on account of the growing accuracy requirements are some of the major factors augmenting the adoption of this technology across several industries around the globe. Furthermore, the constantly evolving imaging technology and the development of high-tech cameras further act as a catalyst for market growth in the next five years. The increasing focus of consumers regarding the quality of the products is further augmenting the demand for this technology as there is an increase in the demand for quality and inspection of the products. However, the market for 3D machine vision technology is expected to be restrained by the fact that there is still a lack of awareness about this technology in some parts of the world which is limiting the adoption in some countries only. Furthermore, the recent advent of COVID is further expected to negatively impact the market growth as several government measures such as lockdowns and social distancing among others has further forced the companies to temporarily suspend the manufacturing activities in several industries. Moreover, the disruption of the supply chain activities and uncertain economic conditions in many countries are also some of the additional factors that are projected to negatively impact the 3D machine vision market growth during the short period of six to eight months.
The 3D machine vision market has been segmented on the basis of offering, product, industry vertical, and geography. On the basis of the product, the market has been classified as hardware and software. On the basis of product, the market has been segmented on the basis of PC-based system and smart camera-based system. By the industry vertical, the classification of the market has been done into automotive, semiconductor and electronics, pharmaceutical, manufacturing, food and beverage, and others. Geographically, the market has been distributed as North America, South America, Europe, Middle East and Africa, and Asia Pacific.
The Asia Pacific region is expected to hold a substantial market share throughout the forecast period on account of the presence of a well-established manufacturing base in countries like India, China, and Vietnam among others. Furthermore, the increasing investments in the adoption of automation solutions across the industries in the APAC region further supplement the growth during the next five years. The North American and European regions are expected to grow substantially due to the presence of well-established industries and the availability of a world-class infrastructure across the industries. Furthermore, the presence of major market players in these regions further bolsters the market growth in these regions throughout the forecast period.
The major players covered as part of the report are Cognex Corporation, Texas Instruments, Canon, Stemmer Imaging, and Sick AG among others.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/3d-machine-vision-market
This report has segmented the 3D Machine Vision market on the basis following terms: