Global 3D Machine Vision Market is valued approximately USD 1.5 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 10% over the forecast period 2020-2027.
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Machine Vision or MV is a technology used to deliver imaging based automatic analysis and inspection with utilization in robot guidance, process control and automatic inspection. The 3D machine vision integrates multiple point clouds from numerous scanners. The system comprises a variety of techniques including point clouds, 3D triangulation, stereo vision. These techniques offer functions such as automatic sensing, receiving and interpreting an image of a real scene. The system also comprises multiple cameras and laser displacement sensors. The escalating demand for high product quality propels the adoption of 3D machine vision systems. Further, growing focus of companies on automation systems which aid in reducing production costs also fuel the implementation of 3D machine vision in manufacturing facilities. Thus, a rapid growth in the use of industrial robots for automation specially in automotive and consumer electronics sector drives the market growth. For Instance: As per International Federation of Robotics, the global operational Stock of Industrial Robots increased from 1635, thousand in 2015 to 1826 thousand in 2016 and by 15% to 2098 thousand in 2017. Also, the adoption of industrial robots in Electronics sector grew by 33% from 91,000 to 121 thousand between 2016 to 2017. While the adoption of robots in Automotive sector Increased by 22% from 103 ,000 to 126,000 in the same period. These visions guided robots are connected with 3D machine vision systems automating the product analysis process. However, lack of awareness and skilled professionals impedes the growth of the market over the forecast period of 2020-2027.
The regional analysis of global 3D Machine Vision market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to the presence of large number of manufacturing facilities in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income, rising focus on automation would create lucrative growth prospects for the 3D Machine Vision market across Asia-Pacific region.
Major market player included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
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