With a strong compound annual growth rate (CAGR) of 12.2%, the Vision Sensor Market is expected to rise significantly from its predicted USD 2.5 billion in 2018 to USD 4.5 billion by 2023.

The growing use of vision sensors in a variety of industries is responsible for this promising trend. Sensor types, which differentiate between less than 3D and 3D sensors, are used in inspection, gauging, code reading, and localization applications. The food and packaging, pharmaceutical, electronics and semiconductor, automotive, and automotive end-user industries are the main ones fueling this rise. The need for vision sensors is predicted to rise as long as companies continue to place a high priority on automation and quality control, confirming their crucial position in contemporary production procedures.

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There are numerous key elements supporting the growing need for vision sensors. The use of vision sensors has been aided by the rapidly expanding electronic and electrical industries as well as the automobile sector's integration of machine vision technologies. The increased emphasis placed by manufacturing businesses on cost and time savings has led to a spike in the use of vision sensors to improve productivity and optimise production procedures. Vision sensors are essential to fulfilling the ever-changing demands of sectors that are continuing to reap the benefits of automation and quality assurance.

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Automotive industry to account for largest size of vision sensor market from 2018 to 2023

The growing need for vision sensors in vital applications like localization, identification, and inspection is putting the automotive industry on the verge of becoming a significant end-user market. Vision sensors are essential for checking different parts and components, seeing defective parts, spotting misalignments, and directing robotic arms to carry out complex operations on the assembly line. The need for vision sensors is anticipated to rise in important regions like North America, APAC, and Europe as a result of the adoption of industrial automation, which aims to shorten manufacturing times and reduce costs related to inspection procedures. Vision sensors are becoming essential components in manufacturing process optimisation as the automotive industry adopts cutting-edge technologies for improved efficiency and quality control.

Inspection and code reading applications will boost demand for less than 3D vision sensors during forecast period

Over the course of the forecast period, less than 3D sensors are expected to dominate the vision sensor market. These sensors will be essential to many different end-user sectors, including automotive, electronics & semiconductor, food & packaging, and measuring, line scan, area scan, inspection, code reading, and localization. Important areas like APAC, Europe, and North America are predicted to have very strong demand for these sensors. Their significant market share is a result of their adaptability and applicability in crucial operations across various industries, highlighting their significance in improving accuracy and efficiency in industrial applications.

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APAC to hold largest share of vision sensor market from 2018 to 2023

Asia Pacific (APAC) is anticipated to maintain a strong development trajectory over the course of the forecast period, positioning it to control the majority of the worldwide vision sensor market in 2018. The main driver of this growth in APAC is the significant investment in industrial automation, which is intended to reduce manufacturing costs, expedite time-to-market, and improve quality standards. Vision sensors are in high demand in the region due to a number of industries, including automotive, electronics, food & beverage, and packaging. The APAC market for vision sensors is expected to grow significantly in the upcoming years as businesses in the region use automation more and more to maintain their competitiveness.

Cognex (US), Keyence (Japan), Teledyne (US), Sick AG (Germany), and Baumer Holdings (Switzerland) are among a few major players in the vision sensor market.

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