Vision Sensor Market to Reach a Market Size of $4.6 Billion by 2024 - KBV Research
NEW DELHI, May 22, 2019 /PRNewswire/ -- According to a new report Global Vision Sensor Market, published by KBV research, The Global Vision Sensor Market size is expected to reach $4.6 billion by 2024, rising at a market growth of 11.8% CAGR during the forecast period. Vision sensors use images to determine how surrounding objects are present, oriented and accurate. Sensors are equipped with a combination of image acquisition and image processing. A single sensor can be used for multi-point inspection. Vision sensors also provide an interchange of data between the video camera and the computer.
The Asia Pacific market would dominate the Global Vision Sensor Less Than 3D Vision Sensors Market by Region by 2024, growing at a CAGR of 11.7 % during the forecast period. The APAC region has shown significant growth in recent years in the auto, pharmaceutical, food and packaging industries. The enormous population shift has fuelled these and the increase in disposable incomes has led to higher demand for products in the APAC area. Manufacturers are looking to adopt production automation techniques to reduce costs, save time and improve the quality of the product. During the forecast period, these factors will continue to increase the demand for vision sensors in these industries in the APAC region. The Europe market is expected to witness a CAGR of 10% during (2018 - 2024). Additionally, The North America market is expected to witness a CAGR of 9.7% during (2018 - 2024).
Access Full Report: https://www.kbvresearch.com/vision-sensor-market/
The Inspection market dominated the Global Vision Sensor Market by Application 2017. The Gauging market is expected to witness a CAGR of 10.8% during (2018 - 2024). Additionally, The Code Reading market is expected to witness highest CAGR of 13.3% during (2018 - 2024). In the coming years, code reading is going to be crucial in industries like food & beverages, packaging and logistics. In marking and identification of products and product tracking at a transport belt, or while transiting at the intended site, readers, fixed or handheld code readers, 1D or 2D code will be important.
The Automotive market dominated the Global Vision Sensor Market by End User 2017, growing at a CAGR of 10.5 % during the forecast period. The Electronics & Semiconductor market is expected to witness a CAGR of 10.9% during (2018 - 2024). The Consumer Electronics market is expected to witness a CAGR of 13.4% during (2018 - 2024). Additionally, The Pharmaceuticals market is expected to witness highest CAGR of 13% during (2018 - 2024).
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The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Omron Corporation, Basler AG, Sick AG, Datalogic, Balluff, Teledyne Technologies Inc., IFM Electronic GmbH, Keyence Corporation, Baumer Holding AG, and Cognex Corporation.
In order to understand the competitive landscape, the KBV Cardinal Matrix has been provided with this report. It is a visual representation about the key players in the industry. The matrix is designed considering the major strategic developments including Mergers & Acquisitions, product launches, partnership among others and the financial strength of the company in the considered years. The major strategies followed by the market participants are Product launches and Partnerships & Collaborations. Based on the Analysis presented in the Cardinal matrix, Keyence Corporation and Omron Corporation are some of the forerunners in the Vision Sensor Market.
Global Vision Sensor Market Segmentation
By Sensor Type
- Less Than 3D Vision Sensors
- 3D Vision Sensors
- Others
By Application
- Inspection
- Gauging
- Code Reading
- Others
By End User
- Automotive
- Electronics & Semiconductor
- Consumer Electronics
- Pharmaceuticals
- Food & Packaging
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Companies Profiled
- Omron Corportation
- Basler AG
- Sick AG
- Datalogic
- Balluff
- Teledyne Technologies Inc.
- IFM Electronic GmbH
- Keyence Corporation
- Baumer Holding AG
- Cognex Corporation
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