According to the new research report "3D Machine Vision Market by Offering (Hardware, and Software), Product (PC Based, and Smart Camera Based), Application, Vertical (Industrial and Non - Industrial), and Geography - Global Forecast to 2022", the 3D machine vision market is expected to be valued at USD 2.13 Billion by 2022, growing at a CAGR of 11.07% between 2017 and 2022.

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The growth of this market is mainly driven by factors such as increasing demand for 3D object analyses in manufacturing applications and rising demand for non–industrial 3D machine vision systems.

Cameras to lead the 3D machine vision market for the hardware segment between 2017 and 2022

Cameras are expected to hold the largest size of the 3D machine vision market for hardware by 2022, and the market for cameras is likely to grow at a high rate during the forecast period. Cameras in machine vision systems play an important role in capturing 3D images. The high demand for high-quality images, image processing, and compactness would lead cameras to hold the largest size of the 3D machine vision market during the forecast period.

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Market for positioning and guidance applications to grow at a significant rate between 2017 and 2022

The market for positioning and guidance applications is expected to grow at a significant rate between 2017 and 2022, owing to the increasing use of robotics in the automotive, pharmacy, food and beverages, and other sectors.

APAC held the largest market share in 2016, and the market in this region to grow at a high rate during the forecast period

APAC held the largest share of the 3D machine vision market in 2016, and the market in this region is expected to grow at a high rate between 2017 and 2022. The increasing adoption of automation across all industries, especially in consumer electronics and automotive, is the major reason for the growth of the 3D machine vision market in APAC. Also, the presence of major manufacturing hubs such as China, Japan, India, and South Korea is contributing to the growth of the 3D machine vision market in this region. In addition, the Japan Industrial Imaging Associations’ (JIIA) efforts in developing and promoting 3D imaging technologies in APAC are further boosting the growth of the 3D machine vision market in the region.

The key players operating in the 3D machine vision market include Cognex Corporation (U.S.), Keyence Corporation (Japan), ISRA Vision AG (Germany), Sick AG (Germany), Basler AG (Germany), Stemmer Imaging (Germany), National Instruments (U.S.), MVTec Software GmbH(Germany), Tordivel AS (Norway), and LMI Technologies (Canada).