Research Nester published a report titled “Vision SensorMarket: Global Demand Analysis & Opportunity Outlook 2033” which delivers a detailed overview of the global vision sensor marketin terms of market segmentation by type of sensor, application, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.
The global vision sensor market is projected to grow at a CAGR of ~12% by attaining robust revenue during the forecast period, i.e., 2023 – 2033. Factors such as,higher demand for 3D printing materials are anticipated to propel the growth of the market during the forecast period. It is observed that the 3D printing material segment is estimated to reach nearly USD 4 billion by the year 2026. Additionally, growing adoption of robots in various industries is further estimated to propel the market growth over the forecast period. The annual rate of manufacturing and distribution of robots was projected to be about 380,000 robots.
Additionally, by end-user, the global vision sensor market is segmented intoelectronics, automotive, pharmaceuticals, food packaging. Out of these sub-segments, the pharmaceuticalssegment is estimated to obtain the largest share in the market during the forecast period. The growth of the segment can be accounted to spiking spending on research and development activities of medicines. As of 2021, the entire spending on medicine is projected to be about USD 570 billion.
Furthermore, the global vision sensor market, by region, is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these regions, the market inthe North Americaregion is estimated to grow at rapid pace over the forecast period on the back of increasing disposable income in the region. As of 2021, the disposable income of Singapore reached approximately USD 30,000 per capita.
The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.
Traffic Safety in the Need of Vision Sensorsto Foster the Growth of the Market
World Health Organization stated that 1.3 million people die in road traffic accidents every year.
In every nation, traffic safety is emerging as a serious issue that needs to be resolved and new technological innovation are taking place to solve these issues. Vision sensor are used for traffic safety since they can analyze the various aspects of image and can be very important to avoid road traffic accidents. Therefore, such factors are anticipated to propel the growth of the market during the forecast period.
However, the requirementfor higher initial investment and the presence of alternativesis expected to operate as a key restraint to the growth of the globalvision sensor market over the forecast period.
This report also provides the existing competitive scenario of some of the key players in the global vision sensor market which includes company profiling ofIfm Electronic GmbH, Cognex Corporation, Basler AG, Balluff Automation India Pvt. Ltd., Datalogic S.p.A., Honeywell International Inc., Omron Corporation, Sick AG, Keyence Corporation, and Siemens Aktiengesellschaft. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global vision sensor market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.