Vision Sensor Market Size

 Global Vision Sensor Market Overview

Vision Sensor Market Size was valued at USD 1.3 billion in 2023. The Vision Sensor Market industry is projected to grow from USD 1.5 Billion in 2024 to USD 3.73 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.66% during the forecast period (2024 - 2032). Rapid growth in the number of smart factories and advancement of automation systems, and integration of advanced technology are the key market drivers to increase the market revenue.

Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review

Vision Sensor Market Trends

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  Growing product demand in the automotive industry is driving market growth.

  
  

Market CAGR for the Vision Sensor Market is being driven by the rising product demand in the automotive industry. The automotive industry stands in need of vision sensors for inspection, localization, and identification applications. Observing the rise in the number of vehicle production worldwide, mainly in developing countries like Indonesia and Thailand, it has a rising requirement for these sensors to make the manufacturing processes brisk in the automotive industry. Furthermore, with the growth of automakers in developing countries, primarily Indonesia, the urge for vision sensors is growing positively year over year. These developing countries provide raw materials and low-cost labor as compared to European and North American regions, which in turn provides market growth in these developing regions.

The surge in requirement for industrial automation solutions is a key scope noticed in the market. Growth in Industry 4.0, the requirement for automation in various industrial processes is anticipated to grow in the coming years. The manufacturers are progressively executing automation with the help of the government in the manufacturing processes to increase productivity and efficiency and therefore increase the market revenue. The sensors have an important role in making the product automatic and intelligent in industrial automation as these sensors can be utilized for examination of manufactured outcomes in automotive, electronics, and food and beverage industries. The expected growth in demand for industrial automation in developing countries is expected as a key market player to create opportunities in the coming years.

 There will be a significant boost in demand for vision sensors as there is a surge in the application of sensors in the examination of the various parts & components, spotting of faulty components, misconfiguration of parts and components, and guiding robotics arms to perform complex tasks on the assembly line. Advanced technology integration, like the Internet of Things (IoT) and artificial intelligence (AI), is going to provide numerous growth opportunities within the market.

For instance, Teledyne DALSA, in April 2019, launched BOA SPOT XL vision sensors for industrial automation and inspection, which is a low-cost product designed for error proofing, configuration, general inspection, and robot guidance. This vision brings integrated LED lighting, lens cover, and easy-to-use application software. Thus, driving the Vision Sensor Market revenue.

Vision Sensor Market Segment Insights

Vision Sensor Type Insights

The Vision Sensor Market segmentation, based on type includes Contour sensor, Pixel Counter Sensor, 3D Sensor, Monochrome Sensor, Color Sensor, and Code Readers. The monochrome sensor market held the largest share in the vision sensor market because of its better technical advantages in most applications and better edge detection compared to the color vision sensor. It has a less electricity requirement, the basic step towards the less consumptive industry, because of which there is an increase in demand for the monochrome vision sensor.

Vision Sensor Application Insights

The Vision Sensor Market segmentation, based on application, includes Inspection, Code Reading, Object Recognition, Localization, and Gauging. The code reading vision sensor market has the largest application. A number of industries like food & beverages, packaging, and logistics are getting the benefits of the vision sensor. 1D or 2D code readers, fixed or handheld code readers will play an important role in making and identifying products and tracking products on a conveyor belt or during transit to the required location. The demand for code reading applications of vision sensors in the automotive and food & packaging industries is increasing, which positively impacts market growth.

Figure 1: Vision Sensor Market, by Distribution Channel, 2022 & 2032 (USD billion)

Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review

Vision Sensor Market Regional Insights:

By region, the study gives market insights into Europe, North America, Asia-Pacific, and the Rest of the World. The North American vision sensor market area dominates this market. It is analyzed to be dominant because of the rising number of smart factories and industries, like the growth of the electronics and automotive industry in the region.

Further, the countries studied in the market report are the U.S., Canada, German, France, the UK, Italy, India, China, Japan, Spain, Australia, South Korea, and Brazil.

Figure 2: VISION SENSOR MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Asia-Pacific vision sensor market accounts for the second-largest market share because of rising automation to reduce manufacturing costs, minimize time to market, and improve quality standards across various end-user industries in India and China. The government's incentives in the electronic manufacturing industry have led to an increase in domestic consumption and also significant growth in exports. Moreover, China’s vision sensor market held the largest market share, and the Indian vision sensor market was the fastest growing market in the Asia-Pacific region.

Further, European vision sensor market is expected to account for a significantly gradual growth rate of revenue. It is mainly attributed to the adoption of IoT in the manufacturing sector and the rising demand for industrial automation. A software tool library present in the vision sensors permits to execution of various sorts of inspections and also multiple types of inspections during the manufacturing process. Moreover, UK vision sensor market held the largest market share, and the German vision sensor market was the fastest growing market in the region.

Vision Sensor Key Market Players & Competitive Insights

Leading market companies are investing heavily in research and development in order to expand their product lines, which will help the weight loss products market grow even more. Market companies are also undertaking a variety of calculated activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the vision sensor industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business strategies used by manufacturers in the global vision sensor industry to benefit clients and increase the market sector. In recent years, the vision sensor industry has offered some of the most remarkable advantages to the automotive industry. Major players in the vision sensor market, including Basler, Cognex, ISRA VISION, KEYENCE, Omron Adept Technologies, FANUC, FARO Technologies, Matrox, MVTec Software, National Instruments, Pick-it, Robotic Vision Technologies, SICK AG, Teledyne Technologies, Visio Nerf and others, are attempting to increase market requirement by investing in research and development operations.

OMRON Corporation launched 3D vision sensing technology in the year 2019, suitable for a vision sensor to spot the orientation and positions of the target objects three-dimensionally. Industrial robots, with the help of this technology, will enable an accurate and faster assembly of bulk parts by automating the rigorous human process of assembly and inspection of the objects. The key strategies in the vision sensor market in recent year have taken many strategic measures, which includes product launches, partnerships, and mergers & acquisitions to improve their market position. Furthermore, many innovations in vision sensors, like working capabilities in harsh conditions and 3D vision sensors from key players and frequently growing advanced automation technology, will eventually grow the vision sensor market.

A global automotive components manufacturer, DENSO Corporation, headquartered in the city of Kenya, Japan developed a small stereo vision that improves the safety of compact vehicles. The developed sensor is the world's smallest automotive stereo vision which is used in the Smart Assist III; it is a crash avoidance system developed for the new Daihatsu Tanto. Thus leading to the vision sensor market growth.

Key Companies in the vision sensor market include

• Basler


• Cognex


• ISRA VISION


• KEYENCE


• Omron Adept Technologies


• FANUC


• FARO Technologies


• Matrox


• MVTec Software


• National Instruments


• Pick-it


• Robotic Vision Technologies


• SICK AG


• Teledyne Technologies


• Visio Nerf

Vision Sensor Industry Developments

June 2020 The new FH Series Vision System announced by OMRON Corporation, released globally, has the first defect detection AI technology in the market, which detects the flaws without the need to learn from samples. This AI technology detects flaws by mimicking human sensibility and approaches of professional inspectors that were challenging to do before.

October 2019 Cognex Corporation is a leading Korean-based developer of vision software that has acquired SAULAB  by using deep learning for industrial applications. This application will help the company to provide exceptional inspection solutions for the manufacturer.

July 2018 Keyence of Japan has launched a new IV-H series of vision sensors which will increase the stability and functionality of visual inspection. It is expected to replace multiple sensors for an all-in-one solution for applications with multiple parts detection.

Vision Sensor Market Segmentation

Vision Sensor Type Outlook

• Contour Sensor


• Pixel Counter Sensor


• 3D Sensor


• Monochrome Sensor


• Color Sensor


• Code Reader

Vision Sensor Application Outlook

• Inspection


• Code Reading


• Object Recognition


• Localization


• Gauging

Vision Sensor Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America