Dublin, April 08, 2019 (GLOBE NEWSWIRE) -- The "Vision Sensor Market by Sensor Type, Application, End-User Industry, and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The vision sensor market is expected to grow from USD 2.5 billion in 2018 to USD 4.5 billion by 2023-growing at a CAGR of 12.20%
Key factors driving the growth of the vision sensor market include the growth of the electronic and electrical industry, the use of machine vision technology in the automotive industry, and the focus of manufacturing companies on cost and time savings. Strategies such as product launches and developments, mergers and acquisitions, expansions, agreements, collaborations, joint ventures, and partnerships adopted by market players are fueling the growth of the vision sensor market. However, the adoption of a product differentiation strategy by established players is creating tight competition for the new entrants and restricting the growth of the market.
Vision sensors use images captured by a camera to determine the presence, orientation, and accuracy of surrounding objects. They consist of several components such as a camera, computer processor, and display. These sensors are widely used across various industries to monitor production processes, maintain product quality, and check if the operational efficiency is being achieved.
Vision sensors are particularly helpful when multiple features must be inspected within the product. There is usually some degree of tolerance for each article. Vision sensors are considerably quicker and more accurate than humans employed for the same task. Barcodes, blot/stain detection, sizing and alignment, and many other parameters can be determined without any direct contact.
Machine vision systems have certain disadvantages: these systems are unable to cope with unforeseen circumstances and input; although they are cost-saving in the long run, it has high costs of installation and personnel training. Constant levels of appropriate illumination are difficult to maintain, and cameras can have difficulties isolating products in congested environments reducing the accuracy and benefits of these sensors.
Cognex (US), Teledyne (US), Keyence (Japan), Baumer Holding (Switzerland), and Sick AG (Germany) are among a few major manufacturers of vision sensors.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Vision Sensor Market
4.2 Vision Sensor Market, By Sensor Type
4.3 Vision Sensor Market in North America, By Country and Industry, 2023
4.4 Vision Sensor Market, By Region (2018-2023)
4.5 Vision Sensor Market, By Application
4.6 Vision Sensor Market, By Industry
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growth of Electronics and Electrical Industry
5.2.1.2 Use of Machine Vision Technology in Automotive Industry and Traffic Safety
5.2.1.3 Focus of Manufacturing Companies on Cost and Time Saving
5.2.2 Restraints
5.2.2.1 Adoption of Product Differentiation Strategy By Established Players
5.2.3 Opportunities
5.2.3.1 Introduction of Iiot in Manufacturing
5.2.3.2 Need for Fewer Devices to Inspect Multiple Parameters
5.2.4 Challenges
5.2.4.2 Price Level Sensitivity
5.2.4.3 Designing Miniaturized Image Sensor Chips
5.3 Value Chain Analysis
5.3.1 R&D
5.3.2 Machine Vision Component Manufacturers
5.3.3 Original Equipment Manufacturers (OEMS)
5.3.4 System Integrators
5.3.5 Resellers and Distributors
5.3.6 End Users
6 Vision Sensor Market, By Sensor Type
6.1 Introduction
6.2 Less Than 3D Vision Sensors
6.2.1 Monochrome Vision Sensors
6.2.1.1 Automotive Industry Will Drive the Demand for Monochrome Sensors for Part Inspection Application
6.2.2 Color Vision Sensors
6.2.2.1 Sorting in Food & Packaging, and Pharmaceutical Industry Will Boost the Market for Color Vison Sensors During the Forecast Period.
6.2.3 Code Readers
6.2.3.1 Text and Character Recognition in Electronics, Food & Packaging, and Pharmaceutical Industry Will Drive the Demand for Code Reader Sensors During the Forecast Period.
6.3 3D Vision Sensors
6.3.1 3D Sensors Market Will Grow at A Faster Rate Due to their Inclusion in Inspection and Robotic Arm Guidance Applications.
6.4 Others
6.4.1 Contour Sensors
6.4.2 Pixel Sensors
7 Vision Sensor Market, By Application
7.1 Introduction
7.2 Inspection
7.2.1 Inspection Will Continue to Maintain Its Position as the Leading Application for Vision Sensors
7.3 Gauging
7.3.1 Gauging Application Will Continue to Grow Due to Increased Adoption in Material Handling and Warehousing Industry
7.4 Code Reading
7.4.1 Code Reading Application Will Grow and the Fastest Rate Due to the Increased Adoption in Pharmaceuticals, and Food & Packaging Industries.
7.5 Localization
7.5.1 APAC Will Be the Leading Market for Vision Sensors for Localization Application
8 Vision Sensor Market, By Industry
8.1 Introduction
8.2 Automotive
8.2.1 Inspection and Localization Applications Will Drive the Market for Vision Sensors in Automotive Industry.
8.3 Electronics & Semiconductor
8.3.1 Code Reading and Localization Applications Will Boost the Demand for Vision Sensors From Electronics and Semiconductor Industry.
8.4 Consumer Electronics
8.4.1 APAC Will Be the Fastest Growing Market for Vision Sensors for the Consumer Electronics Industry
8.5 Pharmaceuticals
8.5.1 North America Will Continue to Dominate the Market for Vision Sensors in the Pharmaceutical Industry
8.6 Food & Packaging
8.6.1 Demand for Stringent Checks During Quality Testing and Packaging Will Boost the Demand for Vision Sensors in the Food & Packaging Industry.
8.7 Others
8.7.1 Metals
8.7.2 Machinery
9 Geographic Analysis
10 Competitive Landscape
10.1 Overview
10.2 Market Player Ranking Analysis
10.3 Competitive Scenario
10.4 Competitive Leadership Mapping
11 Company Profiles
11.1 Introduction
11.2 Key Players
11.2.1 Cognex Corporation
11.2.2 Teledyne Technologies
11.2.3 Keyence Corporation
11.2.4 Sick AG
11.2.5 Balluff GmhH.
11.2.6 Baumer Holding AG
11.2.7 Ifm Electronic GmhH
11.2.8 Leuze Electronic GmhH + Co Kg.
11.2.9 Pepperl+Fuchs GmhH
11.2.10 Hans Turck GmhH & Co. Kg
11.3 Other Key Players
11.3.1 Omron Microscan Systems
11.3.2 Basler AG.
11.3.3 Datalogic SPA
11.3.4 Sensopart GmhH
11.3.5 Wenglor Sensoric AG
11.3.6 Aquifi
11.3.7 Ximea GmhH
11.3.8 Micro-Epsilon Messtechnik GmhH Co. Kg
11.3.9 Isra Vision
11.3.10 Sualab
11.3.11 Qualitas Technologies
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