Increasing use of machine vision in traffic management is a significant factor driving global smart vision sensors market revenue growth

SURREY, BRITISH COLUMBIA, CANADA , January 23, 2022 /EINPresswire.com/ -- The global smart vision sensors market size is expected to reach USD 31.73 Billion at a revenue CAGR of 18.6% in 2028, according to latest analysis by Emergen Research. Rapid market revenue growth can be attributed to increasing use of smart vision sensors in end-use industries such as electronics & semiconductors, pharmaceuticals, and food & beverage, among others. Use of smart vision sensors in industrial settings has garnered significant traction over last couple of years. These sensors deliver several benefits over host-based systems and provide innovative functionalities in measurement, inspection, and various other vision-based applications.

In industrial-settings, smart vision sensors aid in decision making associated with localized pass/fail, networked management capabilities, and I/O part rejection. This results in smaller system footprints and in turn, simplifies and streamlines machine vision applications. Majority of such sensors enable manufacturers and system integrators in the customization for image enhancement, object measurement, and feature location, among others.

Increasing use of machine vision is a key factor fueling market revenue growth. Machine vision is immensely beneficial for quantitative measurement of a structured scene owing to its precision, speed, and repeatability. As an instance, machine vision camera system on a production line is capable of inspecting numerous part/minute and can easily scrutinize object details that is not possible for human eye.

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Furthermore, the report is attuned with the latest market changes and economic landscape with regard to the currently unfolding COVID-19 pandemic. The crisis has affected the demand and supply pattern, as well as the trends of the industry. It has also brought an economic slowdown that has affected the business of the key manufacturers of the industry. The report estimates the impact of this crisis on the current scenario and future prospects and provides a post-COVID market scenario.

In January 2021, LMI Technologies, which is a firm engaged in 3D scanning & inspection, acquired FringeAI, which is a firm engaged Artificial Intelligence and Industrial Internet of Things/5G inspection solutions.Increasing use of machine vision in traffic management is a significant factor driving global smart vision sensors market revenue growth

By product type, 2D smart vision sensors segment accounted for a significantly large revenue share in 2020. 2D vision finds application in aiding in tasks associated with inspection, positioning, reading, and measuring. It is especially beneficial in applications requiring high contrast, or in applications where object color or texture is crucial.

Some major players in the market include Datalogic SPA, Aquifi Inc., Omron Corporation, Isra Vision AG, Baumer, Ximea GmbH, Baster AG, Qualitas Technologies, SensoPart Industriesensorik GmbH, and Cognex Corporation.

Smart Vision Sensors Market research report depicts the latest market scenario with updated trends and segmentation of the products and services. The study provides crucial information on the market situation, size, share, growth factors of the Smart Vision Sensors

Emergen Research has segmented the global smart vision sensors market on the basis of product type, technology, connectivity, application, industry vertical, and region:

Product Type Outlook (Revenue, USD Million; 2018–2028)

2D Smart Vision Sensor

3D Smart Vision Sensor

Others

Technology Outlook (Revenue, USD Million; 2018–2028)

MEMS

CMOS

Others

Connectivity Outlook (Revenue, USD Million; 2018–2028)

Wired

Wireless

Application Outlook (Revenue, USD Million; 2018–2028)

Inspection

Code Reading

Gauging

Localization

Others

Industry Vertical Outlook (Revenue, USD Million; 2018–2028)

Electronics & Semiconductors

Automotive

Pharmaceuticals

Food & Packaging

Others

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Radical Highlights of the Smart Vision Sensors Market Report:

Comprehensive overview of the Smart Vision Sensors market along with analysis of the changing dynamics of the market

Growth Assessment of various market segments throughout the forecast period

Regional and global analysis of the market players, including their market share and global position

Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market

Impact of the technological developments and R&D advancements on the Smart Vision Sensors market

Information about profit-making strategies and developmental strategies of major companies and manufacturers

Insightful information for the new entrants willing to enter the market

Details and insights about business expansion strategies, product launches, and other collaborations

The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis

The report considers the following timeline for market estimation:

Historical Years: 2017-2018

Base Year: 2019

Estimated Year: 2027

Forecast Years: 2020-2027

Each section of the report reveals critical information about the global Smart Vision Sensors market that could be used to ensure strong growth in the coming years. Our unique blend of primary and secondary research techniques helped us to recognize hidden business opportunities available in the global Smart Vision Sensors market, besides collecting significant insights of market participants and obtaining precise market data. It includes several research studies such as manufacturing cost analysis, absolute dollar opportunity, pricing analysis, company profiling, production and consumption analysis, and market dynamics.

Key Points of Smart Vision Sensors Market:

Extensive coverage of the analysis of the Smart Vision Sensors market

Key insights into the regional spread of the industry in key geographies

Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market

Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Smart Vision Sensors market

Complete data about the key manufacturers and vendors in the Smart Vision Sensors market

The Smart Vision Sensors Market report provides full coverage of the companies’ data, including details about their production and manufacturing capacity, product portfolio, business overview, revenue, gross profit margins, sales network and distribution channel, financial standing, and market position. The report also studies business strategies and strategic alliances undertaken by companies to gain a robust footing in the market. The report sheds light on the mergers and acquisitions, collaborations, joint ventures, brand promotions and product launches, agreements and partnerships, and corporate and government deals. The comprehensive analysis of the competitive landscape offers the readers a deeper understanding about the competitors.

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