A type of image processing system hired for only specific tasks is known as a vision sensor system. The vision sensor mainly captures images, checks them with image processing procedures, and finally activates a response. Vision sensors are usually composed of a display, video camera, interface, and computer processor. In a few cases, vision sensors are combined with an integrated processor, known as smart cameras. Mostly, vision sensors use images to find out the orientation, presence, and correctness of surrounding objects. These sensors use the combination of both image procurement and image processing. By using a single sensor, multi-point inspections are also possible. The vision sensor market was valued at USD 1.86 billion in 2018 and is estimated to reach USD 3.87 billion by 2024 with a CAGR of 13.43%.
Vision sensors are mainly used to continue the quality of products and also verify the achievement of operational efficiency. These are used in code reading, gauging, and localization applications. These sensors have a huge range of applications in industrial plants and industrial processes. They are primarily used in industries such as electronics and semiconductors, automotive, pharmaceuticals, and food & packaging.
The pandemic has affected the growth of numerous industrial sectors. The vision sensor market growth is highly affected by the development of other industrial sectors. The manufacturing and inspection procedures highly use the vision sensor to find the quality of the products. The decrease in the production activities in the industries like food and packaging sectors, beverages, and consumer electronics have deteriorated in recent times due to the government's reduction in manpower and restrictions due to pandemics.
COVID 19 Analysis:
The pandemic has impacted the growth of several industrial sectors. The vision sensor market growth is highly influenced by the growth of other industrial sectors. The manufacturing and inspecting procedures highly utilize the vision sensor to determine the quality of the products. The reduction in the production activities in the industries such as food and packaging sectors, beverages, consumer electronics have declined in recent times owing to the reduction in manpower and restrictions imposed by the government due to pandemics.
However, the inspection procedures of the medical devices are supporting the growth of the Vision Sensor market. The inspection of medical instruments such as ventilators, protective gears were propelling the need for vision sensors in recent times. On the other hand, the demand for thermal imaging to monitor the widespread coronaviruses is also impacting the overall growth of the Vision sensor market.
The growth of the electronic and electrical industry in various countries is driving the overall growth of the vision sensor industry. The labeling industry and packaging industries are intensively using vision sensors for the defects and misleading information in labels. The 1D, 2D vision sensors are primarily used in the inspection, comparison, gauging procedures in the end-use industries. Such factors are the primary driving factors of vision sensors market growth.
The potential advantages of the vision sensors in saving time and cost in the manufacturing sectors with the ability to inspect multiple parameters have impacted the overall growth of the vision sensor market. On the other hand, several industries are increasingly adopting automation systems and integrating advanced technologies such as IoT and AI to enhance the overall performance of the vision sensors, which are further driving the growth of the vision sensor industry.
The increasing production rates in several countries with minimal budget plans and increasing adaptation of automated industrial strategies are presenting lucrative opportunities for the vision sensor market. On the other hand, the researches in the vision sensors industry have been increased in recent times which has improved the performance of vision sensors. Some of the recent innovations have potentially replaced multiple vision sensors and have been used for multiple applications.
The advent of human vision sensors is increasingly utilized and has replaced the conventional vision sensors which require a series of frames that require a large amount of space, memory access, manpower, and computational power for any inspection procedures.
Manufacturing the right size of sensors for the lenses is hindering the vision sensor market growth. The illumination issue arises with the mismatch of the lenses and sensors. The larger sensor requires the right lens to fit the purpose.
Higher maintenance costs and installation costs, excluding the costs of integrating them for the purpose, are hindering the overall growth of the vision sensor market.
The compatibility of the sensors and the cameras is difficult. The resolution of the optics is not up to the mark and the lens does not receive appropriate light at the corners of the sensors. This brings in the drawback of acquiring images with dark corners.
The designing of the miniature image sensors chips is considered challenging for the overall development of the vision sensor market. On the other hand, the manufacturing procedures and the integration of the components together are considered to be challenging for the machine vision system.
Cumulative Growth Analysis:
The automotive industry is considered to hold the highest market value concerning the developments in the industry in recent times. The vision sensors are intensively utilized to evaluate the operational efficiency and quality of the products as they are generally integrated with smart cameras. The role of smart cameras is to capture the data and process them. The manufacturing companies and the automotive are highly focused on saving costs and time and are automating several procedures. Such factors are driving the overall growth of the Vision Sensor industry. The market value of the vision sensor market was at USD 1.86 billion in the year 2018 and is expected to surpass the market value of USD 3.87 billion by the year 2024 with a CAGR of 13.43%. For color differentiation, the monochrome sensors are majorly used in several applications, for their capability to process data with minimal light power.
Value Chain Analysis:
The varied applications of vision sensors are considered as the primary driving factor for the overall growth of the Vision Sensor industry. Additionally, the varied types of vision sensors with advanced technologies to serve various purposes are presenting lucrative growth opportunities for the vision sensor market in the forecast period. The area sensors are used intensively in the manufacturing units to detect the missing features of the machine parts. The manufacturer of JCBs, other heavy metal manufacturing sensors makes use of these sensors to enhance the quality and authenticity of their products. The automotive, electronics, semiconductors, consumer electronics are the major end-users of vision sensors to detect the presence or absence of the labels or components of their products.
The emerging smart factories have propelled the overall growth of the vision sensor industry in recent years. The laser scanners are used to scan the area line by line which creates slight time stamps and delays in creating static images. However, the changes in the scene can be handled well with the help of visionary B and visionary T sensors, they help in capturing the images without delays. Such sensors are therefore suitable to be used indoors and outdoors.
Based on Application:
Based on Type:
Based on End-Users:
Asia-pacific is considered to project the highest growth rate in the forecast period owing to the increasing number of automated industries in the region. The leading industrial players are automating the procedures to increase production rates and reduce manufacturing costs. The prime focus for these industrial players is to develop their products up to quality standards. On the other hand, vision sensor devices are used in various end-user applications such as automotive, electronics, food and beverages, packaging, and so on. The Asia-pacific region is also advancing in the field of robotics, consumer electronics, and smart manufacturing techniques where the inspection of various components is necessary. Such factors are expected to present opportunities for the Vision Sensor market to project healthy growth in the forecast period.
Among the other regions, North America is also expected to dominate the market value owing to the advent of Industry 4.0 where the techniques and procedures are automated, and the growing food and packaging industry in the region is also expected to boost the Vision sensor market growth in North America.
In the year 2022
Prophesy kit aims to spur the adoption of Sony's new event-based vision sensors, which can be challenging to be implemented.
This report has covered:
|Market Size||USD 3.87 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application, End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Opportunities||Advancing in robotics and smart manufacturing.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The market size in the year 2018 was USD 1.86 billion.
Pixel counter sensor, contour sensor, monochrome sensor, 3D sensor, code readers and color sensor are the types of vision sensors mentioned in the report.
The code reader segment is the top application-wise segment in the market.
Electronics & semiconductor, automotive, pharmaceutical, consumer electronics, food & packaging, are the significant end-users in the global market.
Emergence of Industry 4.0 along with the rising number of smart factories projects make North America the strongest market.