3D Machine Vision Market Forecasts to 2028 – Global Analysis By Offering (Camera, Processor, Frame Grabber, Optics, LED Lighting, Application Specific and Deep Learning Software), Product (PC Based and Smart Camera Based), Application, End User and By Geo

3D Machine Vision Market Forecasts to 2028 – Global Analysis By Offering (Camera, Processor, Frame Grabber, Optics, LED Lighting, Application Specific and Deep Learning Software), Product (PC Based and Smart Camera Based), Application, End User and By Geography

According to Stratistics MRC, the Global 3D Machine Vision Market is accounted for $1.79 billion in 2022 and is expected to reach $3.07 billion by 2028 growing at a CAGR of 9.4% during the forecast period. Machine vision (MV) is the technology used to provide imaging-based automatic inspection and analysis. 3D machine vision systems have the ability to determine an object's location and orientation. These systems frequently include a few of cameras or a few laser displacement sensors. It boosts productivity and improves efficiency. In the end, 3D technologies will depend on elements like the desired level of precision, measurement speed, whether your item is stationary or moving, reflectivity, and texture. They are able to record more precise information about an object, such as its size, shape, and location.

According to the Industry Trade Group and Association for Advancing Automation (A3), more than 1100 organizations are formed to serve as a networking hub for robotics, automation, AI and 3D printing.

Market Dynamics

Driver:

Growing demand for quality inspection

3D machine vision is the key to enabling the automation. This technology improves inspection workflows. Workflows for inspection are improved by this technology. Moreover, quality control inspections may be sped up using machine vision. It examines every angle concurrently, spotting mistakes right away. Each measurement is compared to a predetermined benchmark. These elements are fuelling the market growth.

Restraint

Varying end-user requirements

As the industrial sector gradually shifts from product uniformity to product customisation, the significance of 3D machine vision is projected to grow. Because there are several industries to consider and different specifications depend on the needs of each client, it is challenging to build a standard machine vision system which is therefore hampering the market expansion.

Opportunity

Increasing adoption of automation

3D Machine Vision in the automating scanning process allows for much faster inspection of objects. This improves the speed of turnaround and hence helps to optimize the production workflow by increasing the efficiency of both the quality inspection and measurement processes. It increases R&D expenditures. The use of 3D in manufacturing procedures raises the caliber, dependability, and output of equipment. These aspects are driving the market growth.

Threat

Inadequate training

While using the 3D machine vision, employees need to receive the necessary training. Ineffective training reduces productivity and fosters unsafe working conditions. It could lead to miscommunication among workers. That results in subpar productivity and lowers than average employee morale. Even performance expectations are lowered. This factor might prevent the market from expanding smoothly.

Covid-19 Impact

The sudden suspension of most industries during the early pandemic era had an effect on the sales of 3D vision equipment. Due to national lockdown, the need for 3D machine vision initially decreased. The enterprises delayed new planned projects connected to the deployment and installation of 3D machine vision at their production plants because they were experiencing a severe reduction in cash flows. Yet within a few months, when the limits and lockout were relaxed, businesses started using automation technologies like 3D machine vision to save manufacturing costs.

The PC based segment is expected to be the largest during the forecast period

The PC based segment is estimated to have a lucrative growth, due to the growing adoption of cameras in 3D imaging. Systems for 3D motion capture need several cameras. These cameras are sometimes positioned over the assembly lines to view and evaluate the products and collect data, depending on the needs. The accuracy of examining labels and tags has grown while human interaction has been kept to a minimum. These features of smart cameras are affecting how technology is used, which is boosting the market's overall growth.

The automotive segment is expected to have the highest CAGR during the forecast period

The automotive segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the inspection purposes. The automobile sector makes substantial use of 3D machine vision for final inspection, assembly verification, mistake proofing, and presence-absence checking. Moreover, it is employed for robotic guiding, testing automation, and dimension gauging, all of which fall under the category of measure, gauge, and guide applications of automotive.

Region with largest share

Europe is projected to hold the largest market share during the forecast period owing to the numerous manufacturing industries. A significant number of firms are launching strategic efforts including distribution agreements, mergers and acquisitions as a result of rising R&D expenditures to advance machine vision technology and associated advancements. All of these elements are therefore anticipated to fuel regional market expansion.

Region with highest CAGR

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to its technological advancements. This region is emerging as a global manufacturing hub, it is availing lucrative opportunities from automotive, Packaging, pharmaceutical, and other industrial applications. Moreover, important countries such as India, China and Japan are offering a wide range of technologies in machine vision. The Indian 3D Machine Vision market was the fastest-growing market in the Asia-Pacific region which is fuelling the market growth in this region.

Key players in the market

Some of the key players profiled in the 3D Machine Vision Market include Basler AG, Cognex Corporation, Keyence Corporation, Isra Vision AG, LMI Technologies, Stemmer Imaging, Mvtec Software GmbH, Sick AG, Tordivel AS, National Instruments Corporation, Sony Corporation, Hermary Opto Electronics Inc, Coherent Inc, Canon Inc, Robotic Vision Technologies Inc and OMRON Corporation.

Key Developments

In April 2023, Cognex Corporation has released the In-Sight® 3800 Vision System. Designed for high-speed production lines, In-Sight 3800 offers an extensive vision toolset, powerful imaging capabilities, and flexible software to deliver a fully integrated solution for a wide range of inspection applications.

In January 2023, OMRON releases new FH-SMD series 3d vision sensor for robot arms. The FH-SMD sensors can be mounted on a robot to recognize randomly placed (bulk) parts in three dimensions, enabling space-saving assembly, inspection, and pick & place that are difficult with conventional robots, whilst improving productivity.

In October 2020, Sony Corporation announced the debut of the Spatial Reality Display (SR Display), a groundbreaking new product made with Sony's award-winning Eye-Sensing Light Field Display (ELFD) technology. The SR Display enables creators across a variety of industries, from automotive and industrial design, to Computer Graphics (CG) and Visual Effects (VFX) designers and creators in film to bring ideas to life in stunning 3D displays.

Offerings Covered:
• Camera
• Processor
• Frame Grabber
• Optics
• LED Lighting
• Application Specific
• Deep Learning Software

Products Covered:
• PC Based
• Smart Camera Based

Applications Covered:
• Quality Assurance & Inspection
• Measurement
• Positioning & Guidance
• Identification

End Users Covered:
• Pharmaceuticals
• Automotive
• Chemicals
• Pulp & Paper
• Printing & Labeling
• Food & Beverage
• Glass & Metal
• Postal & Logistics
• Agriculture
• Security & Surveillance
• Solar Paneling
• Plastics
• Machinery
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements