Rising Adoption of Robots to Bode Well for 3D Machine Vision Market

San Francisco, California, September 18, 2018: A recent market research report by TMR Research covers a thorough analytical account of the growth prospects of the global market for 3D machine vision over the period between 2017 and 2025. The detailed market research report is titled “3D Machine Vision Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025.” The market is expected to exhibit an exponential growth rate over the said period owing to the vast rise in applications of automation and robotics in a vast set of industry verticals.

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Owing to more accurate and precise results, analysts are expecting that 3D machine vision will be the future of robotic vision. As such, the growth prospects of the robotics sector are expected to be directly aligned with the growth opportunities that the global 3D machine vision market will have in the near future. The market is also expected to benefit from the vast technological advancements observed in areas such as face recognition, image recognition, hand-written text processing and recognition, object recognition, and motion recognition. However, the high cost of the technology could emerge as a challenge for the market, restricting its usage in a number of const-sensitive applications.

From a geographical standpoint, the market is expected to gain vast traction in regional markets such as Europe and North America owing to the high adoption of robotics and automation in a number of industries. While these regions will account for a large share in the overall market by the end of the forecast period, the market in Asia Pacific is also expected to emerge as a lucrative regional market owing to the steady adoption of automation in the industrial sector in rapidly industrializing countries such as India and China.

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Some of the leading companies operating in the global 3D machine vision market are Tordivel AS, Cognex Corporation, LMI Technologies, Keyence Corporation, Sick AG, ISRA Vision AG, Stemmer Imaging, MVTec Software GmbH, Basler AG, and National Instruments.

3D Machine Vision Market Rapid Advancements in Technology by 2025

Global 3D Machine Vision Market: Overview

The commercial availability of software tools and algorithms that can measure and process pixels in three dimensions is a key characteristic of the global market for machine vision. A variety of techniques such as 3D triangulation, stereo vision, and point clouds are used to achieve 3D machine vision. Although currently 3D machine vision is commonly used in the measurement and inspection of complex 3D surfaces, newer areas of applications are continuously springing up.

Global 3D Machine Vision Market: Key Trends

Greater adoption of robotics and automation in innumerable industry verticals such as food and beverages, transportation and logistics, automotive, and pharmaceutical promises major growth opportunities. 3D machine vision is expected to be the future of robotic vision. This is expected to create a plethora of growth opportunities for the global 3D machine vision market over the forecast period. Recent advancements in the field of image processing, such as image recognition, hand-written text recognition, face recognition, object recognition, and motion recognition, signify the great potential held by 3D machine vision.

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On the flip side, the high cost of this technology might restrict growth. However, the emergence of Internet of Things (IoT) and Industrial Internet of Things (IIoT) can ensure consistent growth of the market.

Global 3D Machine Vision Market: Market Potential

Cameras are likely to witness an upsurge over the forthcoming period with the launch of novel camera technologies in the market. For instance, Ensenso 3D cameras designed by AZO optics are an ideal solution for faster, more precise, and cost-efficient 3D image capture. Being an ultra-flexible 3D camera system, the camera features 100W LED projector power along with incorporated GigE switch. Similarly, in July 2015, Canon made its entry in the global 3D machine vision market, with the introduction of three new models, RV1100, RV300, and RV500.

Robots based on 3D machine vision technology with deep learning are expected to be developed by Prime Vision in collaboration with Delft Robotics, according to an announcement made by the firm in April 2017. Prime Vision will incorporate its postal recognition technology in the new robots, which is likely to bring automation in the postal or logistics vertical.

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Global 3D Machine Vision Market: Regional Outlook

The growing popularity of automation technologies across domains such as healthcare and early adoption of robotics in European and North American countries might place these regions at the fore. However, vast potential for expansion of the global 3D machine vision market is held by Asia Pacific. The presence of a number of leading manufacturers in countries such as China, Japan, India, and South Korea will help the market progress. Several beneficial initiatives and the growing need for superior quality, for example, in product packaging, has been promoting growth. Factory automation is gaining traction globally. South Korea has increasingly been adopting machine vision in the electronics industry, while in India, pharmaceutical, automotive, and consumer product verticals are tapping the potential of 3D machine vision technology.

Global 3D Machine Vision Market: Competitive Analysis

ISRA Vision AG, Basler AG, Cognex Corporation, Sick AG, Keyence Corporation, Tordivel AS, MVTec Software GmbH, Stemmer Imaging, LMI Technologies, and National Instruments are some of the leading players in the global 3D machine vision market.

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A number of partnerships, collaborations, acquisitions, and mergers are being established by numerous companies. For example, in November 2016, Massachusetts-based machine vision specialist Cognex acquired Germany-based EnShape in order to introduce innovative 3D machine vision products in the global market.

Smart Manufacturing Taps into Potential of 3D Machine Vision

San Francisco, California, June 08, 2017: The growing adoption of automation technologies in smart manufacturing processes and in robotics are key factors paving the way for substantial growth of 3D machine vision market. The application of 3D imaging in a variety of consumer electronics and industry efforts in mainstreaming factory floor automation are seminal developments boosting the evolution of the market. A new report penned by TMR Research, titled “3D Machine Vision Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025”, takes a closer look at these factors and more affecting the market dynamics.

The research provides comprehensive insights into the notable trends, key developments in factory automation technologies, recent advances in 3D imaging, and lucrative avenues in various regions. The study takes a holistic look at key factors influencing the adoption of machine vision in robotics technology. Recent innovative product launches by various players are highlighted and their impact on the competitive dynamics is evaluated.

The 3D machine vision market is primarily driven by a general surge in adoption of automation technologies in numerous industry verticals in various regions. The pressing demand for factory floor automation and the growing popularity of smart manufacturing are expected to boost the 3D machine vision market. Advancement in imaging sensors and the application of machine vision in robotic arms meant for visual machine inspection in factories are expected to fuel the demand for 3D machine vision system. The use of 3D machine vision has been found to be useful for proper installation of engine components and complements human labor employed in the process.

Recent advances in the area of image processing and the accelerated use of 3D imaging in smartphones are expected to spur the demand for 3D machine vision. The high cost of the research and development in 3D machine vision and the lack of awareness among players involved in factory automation are key factors likely to hinder the market to an extent. Nevertheless, the soaring popularity of Industrial Internet of Things (IIoT) in factory automation are expected to open up lucrative growth avenues for manufacturers. Furthermore, industry efforts on future innovations are likely to be focused on 2D processing on 3D images and machine learning technology. The application of these technologies in robotics is projected to create a number of exciting opportunities in the market.

Europe and North America are prominent markets for 3D machine vision. The growth of these regional markets is driven by an accelerated use of automation in the healthcare and medical industries and the growing prominence of IIoT in several European countries. Meanwhile, Asia Pacific is expected to offer lucrative growth avenues for many players to capitalize on. The growth of this regional market is attributed to the large presence of regional and global manufacturing companies specializing in 3D machine vision. The adoption of 3D vision system in making electronics goods in countries such as Japan, China, South Korea, and India is expected to catalyze the regional market growth.

Major players operating in the 3D machine vision market include National Instruments Corporation, LMI Technologies, Stemmer Imaging, MVTec Software GmbH, Tordivel AS, Keyence Corporation, Sick AG, Cognex Corporation, Basler AG, and ISRA VISION AG.