Global 3D Machine Vision Market 2022-2028

Global 3D Machine Vision Market 2022-2028

Global 3D Machine Vision Market Size, Share, & Analysis by Type (Hardware and Software), by Product (PC-Based and Smart Camera-Based), by Application (Quality Assurance and Inspection, Positioning and Guidance, Measurement, and Identification), and by Verticals (Automotive, Electronics and Semiconductor, Food & Packaging, Glass & Metals, Healthcare, Military & Defense, and Others) Forecast Period (2022-2028)

Market Overview

The global 3D machine vision market is growing at a CAGR of 9.8% during the forecast period. The global market was valued at $1.7 billion in 2021 and is estimated to reach $3.2 billion in 2028. 3D machine vision is a growing technology that delivers accurate, real-time information to improve performance in applications. 3D machine vision has been extensively utilized in the inspection and measurement of complex 3D free-formed objects. Its advantages over conventional techniques such as the 2D machine vision have increased its demand globally. Application of 3D machine vision in automotive, electronics, and food & beverage industries for quality assurance and inspection, positioning and guidance, measurement, and identification is anticipated to contribute to the market growth significantly.

Segmental Analysis

Based on components, the market is segmented into hardware and software. Hardware includes cameras (PC-based and Smart Camera), sensors, and other (controllers). The global 3D machine vision hardware market held the highest market share of 85.5% in 2021 and is estimated to grow at a CAGR of 9.7% during the forecast period. The global 3D machine vision hardware market was valued at $1.4 billion in 2021 and is anticipated to reach $2.7 billion in 2028. Continuous research and development in the hardware segment contributed to a higher market share. Omron is performing R&D activities to strengthen its existing businesses. The company is engaged in the development of small 3D vision sensors that can be mounted on robot arms to help compensate for labor shortages at manufacturing sites. OMRON developed its sensing technology to measure and recognize objects at high speed. This sensor technology is installed in the FH-SMD Series 3D Vision System launched by Industrial Automation Business (IAB) in March 2021 and is contributing to the automation of manufacturing lines.

Based on the product, the 3D machine vision camera market is segmented into PC-based and smart camera-based. Smart camera-based systems held the highest market share of 67.0% in 2021. The global smart camera-based system market was valued at $672 million in 2021 and is anticipated to reach $1.3 billion in 2028. The cameras are a cost-efficient solution for 3D vision applications in production and logistics automation, i.e., object classification and dimensioning, robotic picking, packing, and palletizing, where rapid and accurate 3D volume coverage is required. Players are introducing smart camera-based systems which are contributing to the segment growth. For instance, in August 2021, Cognex Corp., a provider of industrial machine vision, introduced the 3D-A1000 Item Detection System. A motion-capable smart camera, the 3D-A1000 can identify the presence or absence of objects with unmatched accuracy on all types of sorters traveling at production line speeds. This product release extends the 3D-A1000 platform into new applications for helping retail and logistics customers reduce delivery errors, improve throughput, and increase fulfillment efficiency.

Based on application, the market is segmented into quality assurance and inspection, positioning and guidance, measurement, and identification. Quality assurance and inspection applications held the highest market share of 47.9% in 2021. The market for a global 3D vision system for quality assurance and inspection was valued at $792 million in 2021 and is anticipated to reach $1.5 billion in 2028. In the manufacturing industry, there is high demand for automated quality assurance to save labor costs and increase accuracy. Due to COVID-19, the demand for the automated system has increased owing to lockdown and less human intervention at the site. A key industry utilizing quality assurance and inspection applications is the automotive industry as it is increasingly depending on robotic vision inspection technology.

Based on vertical, the market is segmented into automotive, electronics and semiconductor, food & packaging, glass & metals, healthcare, military & defense, and others. The automotive industry held the highest market share of 29.8% in 2021. The market value generated from the automotive industry was $493 million in 2021, which is anticipated to reach $879 million in 2028 attributed to an expansion in the utilization of 3D machine vision in automobile manufacturing as the manufacturers are using 3D vision supported robotic system during manufacturing for quality assurance and inspection. The food & beverage industry is anticipated to grow at the highest CAGR of 13.4% during the forecast period. The application-specific 3D machine vision system for sorting, portioning, processing, quality checking during processing, and packaging is extensively in the food and beverage industry.
 
Regional Analysis

The global 3D machine vision market is analyzed based on geography including North America (the US and Canada), Europe (UK, Germany, France, Spain, Italy, and the Rest of Europe) Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), and the Rest of the World (RoW). Asia-Pacific held the highest market share of 39.6% in 2021 accounting for a market value of $654 million in 2021 and is estimated to reach $1.3 billion in 2028. In Asia-Pacific, the 3D machine vision market is driven by the contribution of key economies such as China, Japan, and South Korea. Majorly automotive and electronics are contributing to the market size. Further, growing industrial automation in Asia-Pacific is also contributing to the highest CAGR of 10.5% during the forecast period.

The key players in the 3D machine vision market include OMRON Corp., Keyence Corp., Cognex Corp., Basler AG, TKH group, Stemmer Imaging, MVTec Software GmbH, and Tordivel AS. Several players are increasingly adopting market strategies to expand their geographic presence and capture the escalating market potential. For instance, in February 2022, Basler AG expanded its 3D portfolio by adding industrial-grade stereo camera series. Robots equipped with Basler Stereo Cameras can perceive their surroundings in real-time. The five model variants are available in basic distances of 65 millimeters and 160 millimeters, each in monochrome and color versions.