Vision Sensor Market Worth $4.5 Billion by 2023 - Exclusive Report by MarketsandMarkets™

CHICAGO, March 28, 2019 /PRNewswire/ -- According to the new market research report "Vision Sensor Market by Sensor Type (Less than 3D, 3D), Application (Inspection, Gauging, Code Reading & Localization), End-User Industry (Automotive, Electronics & Semiconductor, Pharmaceuticals, Food & Packaging), and Geography - Global Forecast to 2023", published by MarketsandMarkets™, the Vision Sensor Market is expected to grow from USD 2.5 billion in 2018 to USD 4.5 billion by 2023-growing at a CAGR of 12.2%. Major factors surging the demand for vision sensors include the growth of the electronic and electrical industry, the use of machine vision technology in the automotive industry, and the focus of manufacturing companies on cost and time savings.

Ask for PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=123423890

Automotive industry to account for largest size of vision sensor market from 2018 to 2023

The automotive industry is expected to be the key end-user industry for vison sensors owing to the increasing demand for these sensors in inspection, identification, and localization applications. Inspection of various parts and components, identification of faulty components, misalignment of parts and components, and guiding robotic arms to perform complex tasks on the assembly line will be some of the key applications, which will boost the demand for vision sensors from this industry. Increasing adoption of factory automation to reduce manufacturing time and cost spent on inspection will boost the demand for these sensors from North America, APAC, and Europe.

Inspection and code reading applications will boost demand for less than 3D vision sensors during forecast period

Less than 3D sensors will hold the largest share of the vision sensor market during the forecast period. The use of these sensors in line scan, area scan, and inspection, gauging, code reading, and localization applications across end-user industries such as automotive, electronics & semiconductor, pharmaceuticals, food & packaging will drive the market for these sensors. The demand from these sensors will be high in APAC, Europe, and North America during the forecast period.

Browse in-depth TOC on "Vision Sensor Market"

66 – Tables
39 – Figures
157 – Pages

APAC to hold largest share of vision sensor market from 2018 to 2023

Asia Pacific (APAC) is expected to account for the largest share of the overall vision sensor market in 2018 and is likely to exhibit the highest CAGR during the forecast period. Major factors driving the growth of the vision sensor market in APAC include the increased spending on industrial automation to reduce manufacturing costs, minimize time to market, and improve quality standards across different end-user industries such as automotive, electronics, food & beverages, and packaging.

Request Sample pages of the Report:

https://www.marketsandmarkets.com/requestsampleNew.asp?id=123423890

Cognex (US), Keyence (Japan), Teledyne (US), Sick AG (Germany), and Baumer Holdings (Switzerland) are among a few major players in the vision sensor market.

Please Explore Relevant Reports:

Machine Vision Market by Component (Hardware (Camera, Frame Grabber, Optics, Processor) and Software (Deep Learning and Application Specific)), Product (PC Based and Smart Camera Based), Application, End-User Industry - Global Forecasts to 2023 

3D Machine Vision Market by Offering (Hardware, and Software), Product (PC Based, and Smart Camera Based), Application, Vertical (Industrial and Non - Industrial), and Geography - Global Forecast to 2022

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/vision-sensor-market.asp 
Visit Our Web Site: https://www.marketsandmarkets.com

SOURCE MarketsandMarkets