The global vision sensor market was valued at $2.5 billion in 2020, and is predicted to register a CAGR of 12.5% during the forecast period (2020-2027), reaching $5.7 billion by 2027.
Growing demand for smart vision sensors is a key trend observed in the market. Due to rapid advancements in technologies including artificial intelligence (AI), big data and cloud; and growing adoption of internet of things (IoT), the demand for smart vision sensor is increasing globally. With the integration of deep learning and AI, the vision sensor assists industries to easily automate the inspection process, thereby solving the complex inspection challenges and reducing their cost, time, and money. For instance, EVT Eye Vision Technology GmbH developed EyeSens vision sensors that helps users to address issues pertaining to pick and place application with a universal robot.
Growing packaging industry across the globe, mainly in developing countries such as China and India, is a key driver witnessed in the vision sensor market. For instance, according to The Federation of Indian Chambers of Commerce and Industry, the plastic packaging industry in India has grew at a CAGR of over 14% over the period 2010-17. With rising food and pharmaceutical packaging industries, coupled with rapid rise in exports that requires superior packaging standards for the international market, demand for vision sensors in label inspection and label positioning applications is increasing YoY. Hence, growing packaging industry is proliferating the demand for vision sensors across the globe.
The colour category is expected to grow faster during the forecast period. This can be attributed to the growing demand for solutions including inspection of colour of a particular product part and monitoring changes in colour in various industrial applications. Further, colour vision sensor helps to inspect the condition of the object and offers critical information that improves the reliability. Also, with growing demand for better quality of manufactured parts, the demand for vision sensors is expected to increase globally.
Inspection category held the largest share in terms of vision sensor applications in 2020. This is due to growing demand for vision sensors for inspection of finished products or components, primarily, in automotive, food & beverage, and electronics industries.
Among the major countries, the U.S., and China holds the major vision sensor market shares in 2020. This is due to large dominance of the two countries in terms of manufacturing industries. Further, due to growing advancements in the packaging industry, demand for vision sensors in applications including label inspection and label position checking is increasing positively year-over-year (YoY).
The vision sensor market is fragmented in nature with the presence of several key players. These key companies include OMRON Corporation, KEYENCE CORPORATION, Teledyne Technologies Incorporated, SICK AG, Cognex Corporation, Balluff GmbH, Baumer Holding AG, ifm electronic gmbh, Pepperl+Fuchs AG, wenglor sensoric GmbH.
Growing demand for smart vision sensors is a key trend observed in the market. Due to rapid advancements in technologies including artificial intelligence (AI), big data and cloud; and growing adoption of internet of things (IoT), the demand for smart vision sensor is increasing globally. With the integration of deep learning and AI, the vision sensor assists industries to easily automate the inspection process, thereby solving the complex inspection challenges and reducing their cost, time, and money. For instance, EVT Eye Vision Technology GmbH developed EyeSens vision sensors that helps users to address issues pertaining to pick and place application with a universal robot.
Growing packaging industry across the globe, mainly in developing countries such as China and India, is a key driver witnessed in the vision sensor market. For instance, according to The Federation of Indian Chambers of Commerce and Industry, the plastic packaging industry in India has grew at a CAGR of over 14% over the period 2010-17. With rising food and pharmaceutical packaging industries, coupled with rapid rise in exports that requires superior packaging standards for the international market, demand for vision sensors in label inspection and label positioning applications is increasing YoY. Hence, growing packaging industry is proliferating the demand for vision sensors across the globe.
The colour category is expected to grow faster during the forecast period. This can be attributed to the growing demand for solutions including inspection of colour of a particular product part and monitoring changes in colour in various industrial applications. Further, colour vision sensor helps to inspect the condition of the object and offers critical information that improves the reliability. Also, with growing demand for better quality of manufactured parts, the demand for vision sensors is expected to increase globally.
Inspection category held the largest share in terms of vision sensor applications in 2020. This is due to growing demand for vision sensors for inspection of finished products or components, primarily, in automotive, food & beverage, and electronics industries.
Among the major countries, the U.S., and China holds the major vision sensor market shares in 2020. This is due to large dominance of the two countries in terms of manufacturing industries. Further, due to growing advancements in the packaging industry, demand for vision sensors in applications including label inspection and label position checking is increasing positively year-over-year (YoY).
The vision sensor market is fragmented in nature with the presence of several key players. These key companies include OMRON Corporation, KEYENCE CORPORATION, Teledyne Technologies Incorporated, SICK AG, Cognex Corporation, Balluff GmbH, Baumer Holding AG, ifm electronic gmbh, Pepperl+Fuchs AG, wenglor sensoric GmbH.
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