According to the study, the global 3D machine vision market size is topping the valuation of USD 1,500 Million in 2020 and is expected to surpass USD 2,900 Million by the end of 2027. The 3D machine vision market is projected to grow at a CAGR of 11.10% between 2020 and 2027.
The increasing need for high-quality products and the emergence of automation in several industries have surged the demand for quality inspection. An unprecedented outbreak of COVID-19 urged the companies to reduce their production costs and are adopting different supply chain models. Consequently, manufacturing companies are investing extensively in automation to reduce errors and human intervention to increase efficiency. This is expected to burgeon the demand for 3D machine vision technology over the forecast .3D machine vision is an image processing technology extensively used in manufacturing, commercial, automotive, and other industries. This technology offers automated object scanning to enhance the manufacturing process. Integration of advanced technology such as robotics, artificial intelligence, and machine learning is enabling the manufacturers to make decision on the basis of detection software and improve their production capabilities.
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Top Players Company Profiles
- Omron Corporation (Japan)
- Cognex Corporation (US)
- Basler AG (Germany)
- Keyence (Japan)
- National Instruments (US)
- TKH Group (Netherlands)
- Sony Corporation (Japan)
- ISRA Vision (Germany)
- Stemmer Imaging (Germany)
- Intel Corporation (US)
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Global 3D Machine Vision Market Regional Insights
Based on the regional segmentation, the Asia Pacific 3D machine vision market is expected to account for more than 30% of the demand share in the global market. Factors attributing to the growth are expansion of manufacturing, automotive, and food beverage industry in India and Japan.
China is considered to be one of the largest manufacturing and automotive industry, followed by India. According to IBEF, India was among the top 5 automotive markets. To ensure the quality of automotive and manufacturing components, end users are extensively adopting 3D machine vision technology. To capitalize on the fastest-growing market, key companies are eyeing the India and China market, especially manufacturing industries. Additionally, favorable government initiatives and the emergence of automation in South Korea, Taiwan, and Singapore are aiding the growth in the Asia Pacific.
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