DUBLIN, June 17, 2019 /PRNewswire/ -- 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 12.2%.
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.
Cognex (US), Keyence (Japan), Teledyne (US), Sick AG (Germany), and Baumer Holdings (Switzerland) are among the major players in the vision sensor market.
"Inspection application to account for largest market size from 2018 to 2023"
The inspection application is expected to account for the largest share of the vision sensor market during the forecast period. This growth is attributed to the increasing demand from the automotive, food & beverages, and pharmaceuticals industries for the inspection of finished components and products for defects, misalignment of parts, incorrect fitting of components, and sorting of components on the manufacturing line.
"APAC to be fastest-growing market for vision sensors from 2018 to 2023"
Asia Pacific (APAC) held the largest share of the overall vision sensor market in 2017 and is likely to witness the highest CAGR in the said market during the forecast period. Major factors driving the growth of the vision sensor market in APAC include the increase in spending on industry automation to reduce manufacturing costs, minimize time to market, and improve quality standards across different end-user industries such as automotive, electronics, food & beverages, and packaging.
Key Topics Covered
1.1 Study Objectives
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Geographic Scope
1.3.3 Years Considered
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
126.96.36.199 Secondary Sources
2.1.2 Primary Data
188.8.131.52 Primary Sources
184.108.40.206 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
220.127.116.11 Analysis of Average Selling Prices of Different Types of Sensors
2.2.2 Top-Down Approach
18.104.22.168 Estimating Value and Volume From Secondary Treasures
22.214.171.124 Validating Derived Results With Companies' Revenues and Primaries
2.2.3 Market Ranking Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
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
5.2 Market Dynamics
126.96.36.199 Growth of Electronics and Electrical Industry
188.8.131.52 Use of Machine Vision Technology in Automotive Industry and Traffic Safety
184.108.40.206 Focus of Manufacturing Companies on Cost and Time Saving
220.127.116.11 Adoption of Product Differentiation Strategy By Established Players
18.104.22.168 Introduction of IIoT in Manufacturing
22.214.171.124 Need for Fewer Devices to Inspect Multiple Parameters
126.96.36.199 Price Level Sensitivity
188.8.131.52 Designing Miniaturized Image Sensor Chips
5.3 Value Chain Analysis
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
6.2 Less Than 3D Vision Sensors
6.2.1 Monochrome Vision Sensors
184.108.40.206 Automotive Industry Will Drive the Demand for Monochrome Sensors for Part Inspection Application
6.2.2 Color Vision Sensors
220.127.116.11 Sorting in Food & Packaging, and Pharmaceutical Industry Will Boost the Market for Color Vison Sensors During the Forecast Period.
6.2.3 Code Readers
18.104.22.168 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.
6.4.1 Contour Sensors
6.4.2 Pixel Sensors
7 Vision Sensor Market, By Application
7.2.1 Inspection Will Continue to Maintain Its Position as the Leading Application for Vision Sensors
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.
7.5.1 APAC Will Be the Leading Market for Vision Sensors for Localization Application
8 Vision Sensor Market, By Industry
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
8.5.1 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.
9 Geographic Analysis
9.2 North America
22.214.171.124 US Holds Significant Share of the North American Market for Vision Sensors
126.96.36.199 Increasing Investments in Biopharmaceutical and Pharmaceutical Industry Will Boost the Vision Sensor Market in Canada During the Forecast Period
188.8.131.52 The Modernization of the Mexican Automotive Industry Will Boost the Vision Sensor During the Forecast Period
184.108.40.206 Increased Focus on Product Quality and Process Optimization Will Boost the Vision Sensor Market in Germany
220.127.116.11 Upgradation of Existing Manufacturing Facilities in France Will Lead to Increased Demand for Vision Sensors During the Forecast Period.
18.104.22.168 Revival of Ageing Manufacturing Sector Will Lead to Increased Adoption of Vision Sensors in the UK During the Forecast Period
22.214.171.124 Italy Will Continue to Hold A Significant Market Share of the Vision Sensor Market Due to Its Food, and Automotive Industry.
9.3.5 Rest of Europe
126.96.36.199 China's Drive to Become the Leading Manufacturing Nation in the World Will Drive the Demand for Automation and Vision Sensors During the Forecast Period.
188.8.131.52 Initiatives to Accelerate the Adoption of Industry 4.0 Will Boost the Vision Sensor Market in Japan.
9.4.3 South Korea
184.108.40.206 Increased Adoption of Industrial Robotics and Automation Systems By the Electronics Industry in South Korea Will Drive the Vision Sensor Market During the Forecast Period.
220.127.116.11 India Will Be the Fastest Growing Market for Vision Sensors
9.4.5 Rest of APAC
9.5.1 South America
18.104.22.168 Heavy Investments Towards Modernization of the South American Automotive Industry Will Drive the Vision Sensor Market
22.214.171.124 Migration of Manufacturing Projects to Africa Will Provide an Opportunity for Growth of the Vision Sensor Market During the Forecast Period
9.5.3 Middle East
126.96.36.199 Heavy Investments Towards Setting Up Modernized Manufacturing Infrastructure Will Boost the Vision Sensor Market in the Middle East During the Forecast Period.
10 Competitive Landscape
10.2 Market Player Ranking Analysis
10.3 Competitive Scenario
10.3.1 Product Launches and Developments
10.3.2 Acquisitions & Expansions
10.3.3 Partnerships & Collaborations
10.4 Competitive Leadership Mapping
11 Company Profiles
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 GmbH
11.2.6 Baumer Holding AG
11.2.7 IFM Electronic GmbH
11.2.8 Leuze Electronic GmbH + Co KG
11.2.9 Pepperl+Fuchs GmbH
11.2.10 Hans Turck GmbH & Co. KG
11.3 Other Key Players
11.3.1 Omron Microscan Systems
11.3.2 Basler AG
11.3.3 Datalogic S.p.A.
11.3.4 Sensopart GmbH
11.3.5 Wenglor Sensoric AG
11.3.7 Ximea GmbH
11.3.8 Micro-Epsilon Messtechnik GmbH Co. KG
11.3.9 Isra Vision
11.3.11 Qualitas Technologies
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