3D Machine Vision Market Forecast to 2030| Driving Innovation

Posted by Jyoti on August 9th, 2024

3D Machine Vision Industry Overview

The global 3D machine vision market size was valued at USD 6.43 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 13.9% from 2024 to 2030. Increasing demand for quality inspection and automation in various industrial verticals is likely to drive the machine vision market. Additionally, need for vision-guided robotic systems across automotive, food & beverage, pharmaceutical & chemical, and packaging segments is expected to fuel market growth. The surge in demand for application-oriented machine vision systems is also boosting the adoption of technology over the forecast period. 3D machine vision (MV) systems involve the ability of a computer to observe, inspect, and scrutinize work performance by employing one or more video cameras, digital signal processing, and analog-to-digital conversion. Captured data is then transferred to a computer to analyze and provide desired output.

Sensitivity and resolution are two important aspects of any machine vision (MV) system. Resolution is responsible for differentiating between objects, whereas sensitivity is the machine's ability to detect objects or weak impulses despite dim lights or invisible wavelengths. These systems play a crucial role in supervising work environments and offer features such as process control, robotic guidance, and automatic inspection in industrial applications. Industrial production and manufacturing activities are becoming increasingly complex, leading to challenges and greater unreliability for the human eye to accurately detect, observe, and examine production activities.

Gather more insights about the market drivers, restrains and growth of the 3D Machine Vision Market

The technology is witnessing high adoption in industrial operations and is significantly replacing manual inspection and measurements due to the increasing need for efficient and reliable inspection and measurements. Machine vision systems utilize smart cameras and image processing to perform measurements and inspections.

The technology is gaining considerable traction across various industrial verticals, including food and packaging, automotive, pharmaceuticals, and others, owing to its abilities, such as improved object detection, enhanced analysis, monitoring tolerance, and accurate component measuring. All these factors are expected to boost the global market's growth over the forecast period. However, the lack of efficient system operators due to inadequate training is a restraining factor that is likely to hinder the smooth growth of the market.

Key Companies profiled:

• Cognex Corporation
• Keyence Corporation
• Sick AG
• ISRA Vision AG
• Basler AG.

Key 3D Machine Vision Company Insights

Some prominent players in the market include Cognex Corporation (U.S.), Basler AG (Germany), Keyence Corporation (Japan), Sick AG (Germany), and ISRA Vision AG (Germany).

• ISRA VISION GmbH is a manufacturer and provider of surface inspection systems. The company’s products are used for quality and surface inspection, including image processing systems, focused on the arena of 3D machine vision. Its machine vision system comprises lightning components, sensor devices, hardware, software, and mechanical elements such as high-resolution cameras and fast-switching LEDs.

• Basler AG develops and manufactures digital cameras for medical devices, traffic systems, industrial applications, and video surveillance. The products offered by the company include PowerPack Microscopy equipment; network cameras; 3D cameras for applications in logistics, industrial image processing, imaging, and inspection; area scan cameras for factory automation and traffic monitoring; and line scan cameras for sorting procedures and quality assurance.

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• The global printed and chipless RFID market size was valued at USD 5.30 billion in 2023 and is projected to grow at a CAGR of 21.2% from 2024 to 2030. Advancements in printing technologies and materials science have significantly enhanced the performance and reliability of printed and chipless RFID tags.

• The global computer aided manufacturing market size was estimated at USD 3.47 billion in 2023 and is expected to grow a CAGR of 9.4% from 2024 to 2030. This growth can be attributed to the increasing adoption of automation and digitalization across manufacturing industries.

3D Machine Vision Market Segmentation

Grand View Research has segmented global 3D machine vision market report based on offering, product, application, end-use, and region:

3D Machine Vision Offering Outlook (Revenue, USD Billion, 2017 - 2030)

• Hardware
o Camera
o Frame Grabber
o Optics
o LED Lighting
o Processor
• Software
o Application Specific
o Deep Learning Software

3D Machine Vision Product Outlook (Revenue, USD Billion, 2017 - 2030)

• PC Based
• Smart Camera Based

3D Machine Vision Application Outlook (Revenue, USD Billion, 2017 - 2030)

• Quality Assurance and Inspection
• Positioning and Guidance
• Measurement
• Identification

3D Machine Vision End-use Outlook (Revenue, USD Billion, 2017 - 2030)

• Automotive
• Pharmaceuticals & Chemicals
• Electronics & Semiconductor
• Pulp & Paper
• Printing & LabelingFood & Beverage (Packaging and Bottling)
• Glass & Metal
• Postal & Logistics
• Others

3D Machine Vision Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o U.K.
o France
o Italy
o Spain
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
• South America
o Brazil
• Middle East and Africa (MEA)

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Recent Developments

• In February 2022, Basler AG extended its 3D range with an industrial-grade stereo vision series. Basler Stereo Cameras enable robots to comprehend their environment in real-time.

• In May 2021, HALCON 21.05, the latest upgrade for the machine vision software suite, was released by MVTec Software Gmb. The Generic Form Matching feature that minimizes the number of operators and unifies HALCON's shape matching algorithms into a single set of operators, is a major highlight of the upgrade.

• In March 2021, OMRON Corporation announced the launch of the FH-SMD series 3D vision sensor. The launch aims to mount the sensors on a robot to enable recognition and inspection, space-saving assembly, placement of bulk automotive parts in 3D, and pick & place to implement automation and improve productivity.