Market Drivers and Top Barriers

The global vision sensor market was estimated at USD 1.86 billion in 2018 and can touch a valuation of USD 3.87 billion by 2024, says Market Research Future (MRFR). The market can also possibly attain a CAGR of 13.43% during the forecast period (2019-2024).

The global vision sensors market benefits largely from the expanding electronics and electrical industry coupled with mounting demand for consumer electronics. Strong demand for vision sensors owing to their use for part detection and measurement in the automotive industry is another significant factor working in favor of the global vision sensors market.

Furthermore, advancing automation technology and expanding automotive industry has helped with business growth. This is on account of the substantial use of vision for automation in products manufacturing all over the world. In addition, rising product innovation in vision sensors including working capabilities in extreme conditions along with 3D vision sensors from renowned vendors elevates the market position across the globe.

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Retail and consumer goods industry has noted considerable growth in recent years, with the demand for vision sensors for bar code scanning increasing at a fast pace. But high installation cost of vision sensors can work against the market growth in the coming years. However, the rapid surge in the number of smart factories projects all over the world acts as an encouraging factor in market growth.

Top Players

Top vendors influencing the worldwide vision sensor market include Omron (Japan), Datalogic S.p.A. (Italy), Baumer (Switzerland), Cognex (US), Balluff GmbH (Germany), Basler AG (Germany), Keyence (Japan), IFM Electronic (Germany), Sick AG (Germany), Teledyne (US), among others.

Other than these players, some other vendors responsible for market growth are Pepperl+Fuchs GmbH (UK), SensoPart (Germany), Hans Turck GmbH & Co. KG (Germany), Leuze electronic GmbH+Co. KG (Germany), to name a few.

Recent News

September 2019 - Prophesee recently launched the first industry-standard packaged chip that makes extensive use of Event-Based Vision technology. This third-generation chip consists of a Prophesee-enabled VGA-resolution sensor and has been developed for camera developers to allow next-generation vision in industrial automation as well as IoT systems including inspection equipment, robots, and monitoring & surveillance devices.

Market Segmentation

Type, application, and end-user are the primary segments based on which the global vision sensor market has been studied by MRFR in its latest report.

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Considering the type, the market includes pixel counter sensor, contour sensor, monochrome sensor, 3D sensor, color sensor, and code readers. Code reader was identified as the highest revenue-generating segment in 2018; it is believed to retain its top position in the market throughout the review period. The 3D sensor segment can achieve a significant growth rate during the forecast period.

Application-wise, the vision sensor market has been split into inspection, code reading, object recognition, localization, gauging, and others. The inspection segment led the vision sensor market in 2018; and is estimated to control the largest share even during the forecast period, given its extensive use in smart factories. The localization segment, however, is anticipated to grow at a significant rate in the years ahead.

The end-users in the market are electronics & semiconductors, automotive, pharmaceutical, consumer electronics, food & packaging, and others. In 2018, the automotive industry was the leading segment among all the end-users and has the potential to gain higher traction throughout the evaluation period. In the automotive industry, component’s misalignment detection, defect identification of faulty components and component inspection are conducted on the assembly line by vision sensors. It is estimated that the consumer electronics segment can obtain a robust CAGR during the forecast period.

Regional Outlook

The geographical distribution of the worldwide vision sensor market includes North America, Asia Pacific (APAC), Europe, and the rest of the world (RoW) which comprises the Middle East & Africa along with South America.

North America has the most potential to achieve the leading position in the global vision sensor market. This is true given the fact that the region is known for its early adoption of Industry 4.0 and the high number of smart factories projects that help promote the demand for vision sensors. Also, machine vision systems find widespread use in automotive and food and packaging industry in the region, touted to create robust demand for the same in the following years.

APAC is expected to grow at the highest rate during the forecast period on account of substantial expansion of the electronics industry. Moreover, the robust growth of the manufacturing industry in developing economies like India and China also stimulates market growth in the region. Japan is expected to be one of the most profitable markets for vision sensor, attaining a significant CAGR during the appraisal period. The country makes high use of vision sensors within the automotive industry for part detection.

MEA is believed to see moderate surge in the coming years, thanks to the soaring demand for vision sensors in the non-alcoholic beverages industry.

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