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Vision Sensor Market

Vision Sensor Market

  • January 2020
  • 132 pages
  • ID: 5879078
  • Format: PDF
  • Prescient & Strategic Intelligence Private Limited

Summary

Table of Contents

Vision Sensor Market Research Report: By Type (Monochrome, Color), Application (Inspection, Gauging, Code Reading, Localization), Industry (Automotive, Food & Beverage, Electronics, Packaging, Pharmaceutical) - Global Industry Trends and Growth Forecast to 2030

In 2017–2018, automobile production in Indonesia recorded an increase of 10.3%. Seeing the burgeoning demand for vehicles in the country, Toyota Group plans to invest $2 billion between 2019 and 2024 to expand its business here. The automotive sector of several other developing countries shows a similar trend of vehicle manufacturers expanding their production capacity. With the surge in the number of vehicles being produced around the world, the sale of vision sensors will also increase, as such devices are used for localization, inspection, and identification.

Thus, the vision sensor market would witness a robust growth in its revenue, from $2.5 billion in 2019 to $9.2 billion by 2030, at a 12.7% CAGR during 2020–2030 (forecast period). Such devices are widely used for gauging, inspection, localization, and code reading applications, which are of high importance in numerous industries. Other applications of such components in the automotive sector are detection of a hole in a camshaft, differentiation of cylinder blocks, checking for faulty components in a car stereo, detection of missing balls in a bearing, differentiation of various types of tires and gear types, and verification of correct nut assembly.

Apart from automobile manufacturing, vision sensors are also widely integrated in product packaging lines. Here, these devices perform the all-important function of inspecting the text, logo, and code on labels, foil wrapping seams, checking bottles in the packaging box, and detecting the position of the label to determine if it is correctly placed. The packaging sector is expanding swiftly in developing countries, including China and India. This is a direct result of the growth in the pharmaceutical and food and beverages sectors. Further, the export of products requires sturdy and resilient packaging, which is another reason for the sector’s prosperity.

Two kinds of vision sensors are used in industries: monochrome and color. Of these, monochrome sensors are more preferred among manufacturers and packaging firms, as they are technically better than the color variants. Further, monochromatic vision sensors consume less electricity, which results in their higher adoption. In the coming years though, the adoption of color sensors would witness a rapid surge, as the visual appeal of products is becoming increasingly important for marketing purposes, which is why determining that the color is just right is becoming the need of the hour.

Around the world, the largest vision sensor market is Asia-Pacific (APAC), with the escalating demand of the booming population for consumer electronics and automobiles. Additionally, with the strong government support for electric vehicles in the region, in the form of tax rebates and purchase subsidies, the usage of vision sensors would continue surging. In several regional nations, such as India, Thailand, and China, manufacturers are automating their processes to meet the rising demand for various products. Vision sensors are an important aspect of industrial automation, as they remove the requirement for human product inspectors.

With the rapid advancements in the cloud, big data, and artificial intelligence technologies, smart vision sensors have made it to the manufacturing process of several firms. Another reason for the growing popularity of smart sensors is the quick adoption of internet of things (IoT). By equipping these instruments with deep learning, a reference data picture set can be studied for defects. The Industrial Technology Research Institute (ITRI) of Taiwan has begun using smart vision sensors in garment production, to automatically inspect the color, shape, quality, and location of the wearables.

Thus, with manufacturers focusing on product quality and process automation, vision sensors will witness an even wider application in the coming years

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