The global 3D Machine Vision market was valued at USD 1.6 billion in 2017 and is anticipated to grow at a CAGR of than 12.3% during the forecast period.
3D machine vision is used for accurate and precise three-dimensional inspection and measurement of complex 3D free formed surfaces. 3D machine vision uses components such as cameras, light sources, and frame grabbers among others to provide spatial measurements, shape location and analysis, and feature identification. Some applications of 3D machine vision include automated guidance of motion, mapping, and quality control and inspection among others.
The global 3D machine vision market is influenced by increasing adoption of automation of processes. Technological advancements in image recognition, text recognition, face recognition, object recognition, and motion recognition are expected to provide growth in opportunities during the forecast period. Implementation of 3D machine vision solutions enables organizations to improve work quality and efficiency, while decreasing operational costs, and reducing errors. Growing adoption in small and medium businesses, rising demand for customized and application specific solutions, and technological advancements support the growth of the 3D machine vision market. The demand from industries including automotive, healthcare, defense, aerospace, and food and beverage is increasing and newer applications are being explored, thereby accelerating the adoption of 3D machine vision systems.
Asia-Pacific 3D Machine Vision Market Share By Technology, 2017 - 2026
Note: Inside circle depicts data for 2017 & outside circle depicts data for 2026
The global 3D machine vision market is segmented on the basis of component, technology, application, end-user, and region.
Based on component, the market is segmented into hardware, software, and services. The hardware segment dominated the global market in 2017 owing to the growing demand for advanced cameras, sensors, and image grabbers among other hardware components.
The technology segment is divided into Smart Camera-Based Systems, and PC-Based Systems. The PC-based systems accounted for the highest market share in 2017.
The application segment is categorized into Mapping, Robotic Guidance and Automation, Quality Control & Inspection, and others. Quality control and inspection segment dominated the global market in 2017 owing to the growing need to offer high quality products to consumers while reducing operation costs and human errors.
On the basis of end-user, the market is segmented into Automotive, Healthcare, Aerospace and Defense, Food and Beverage, Electronics and Semiconductors, Transportation, Wood and Paper, and others.
Geographically, the 3D machine vision market is distributed across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, Russia, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Australia, and Rest of Asia-Pacific. Asia-Pacific accounted for the largest share in the global 3D machine vision market in 2017 owing to increasing demand from the manufacturing, and automotive sectors.
Asia-Pacific 3D Machine Vision Market By Technology, 2017 - 2026 (USD Billion)
The companies in the global 3D machine vision market are launching new products and expanding their portfolio to cater to the growing market demands. The leading players in the market include ISRA Vision AG, Cognex Corporation, MVTec Software GmbH, Basler AG, Tordivel AS, Sick AG, Stemmer Imaging, National Instruments Corporation, Keyence Corporation, and Microscan Systems, Inc. among others.