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Growing popularity of machine vision sensors and rapid adoption of IoT in the manufacturing sector are driving global vision sensor revenue growth

VANCOUVER, BC, CANADA, November 15, 2022 /EINPresswire.com/ -- The global vision sensor market size was USD 8.03 Billion in 2021 and is expected to register a revenue CAGR of 17.8% over the forecast period, according to the latest analysis by Emergen Research. Growing popularity of machine vision sensors, rapid adoption of state-of-art technology such as Artificial Intelligence (AI) and edge computing, and rapid adoption of IoT in the manufacturing sector are factors driving global vision sensor revenue growth.

Machine vision is widely used across various industrial and manufacturing processes to increase productivity and profitability. For instance, while packaging pharmaceutical drugs various companies use innovative solutions, which involve use of computer vision to search for damaged or imperfectly made tablets. Pictures are taken as tablets go down the assembly line and then uploaded to a special PC, which uses software to process images and then performs additional analysis to determine whether tablets are of proper color, length, width, and overall size. The PC-based vision inspection system is integrated with a PC that handles counting function and if a tablet is found to be flawed, this information is logged and sent as a signal to counting function. By the time bottle of containers reaches the end of production line, containers that contain flawed tablets are then rejected, eliminating the possibility of shipping flawed medical tablets. Such innovative solutions are expected to increase demand for organic vision sensor products and hence drive revenue growth of the market.

Rapid adoption of IoT in the manufacturing sector and surge in usage of state-of-the-art technology, such as Artificial Intelligence (AI) and edge computing, are expected to significantly support revenue growth of the market. Using cameras and sensors connected to AI systems, machine vision allows retailers to monitor how customers navigate aisles and help businesses to track customer preferences. The tracking system totals everything and conducts a virtual checkout after receiving data on all products from AI-powered cameras. As a result, everything is completed electronically, thereby improving customer experience, which can drastically improving sales and driving revenue growth of the market.

Factors, such as lower adoption rate of vision sensors in developing countries, higher cost of setting up and maintenance, and lack of skilled professionals are hampering revenue growth of the market. However, a surge in government investments to adopt industrial automation is expected to support growth of the market.

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Key market aspects studied in the report:

Market Scope: The report explains the scope of various commercial possibilities in the global Vision Sensor market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.

Competitive Outlook: The leading companies operating in the Vision Sensor market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.

Report Objective: The primary objective of this report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global Vision Sensor market.

The leading market contenders listed in the report are:

Cognex Corporation, Teledyne Technologies Inc., Keyence Corporation, Sick AG, Baumer, OMRON Corporation, Datalogic S.p.A., SensoPart Industriesensorik GmbH, Isra Vision GmbH, and Qualitas Technologies

The research study examines historic data from 2018 and 2020 to draw forecasts until 2028. The timeline makes the report an invaluable resource for readers, investors, and stakeholders looking for key insights in readily accessible documents with the information presented in the form of tables, charts, and graphs.

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Market Segmentations of the Vision Sensor Market

Segments Covered in this report are:

Type Outlook (Revenue, USD Billion, 2019–2030)

Less than 3D

3D

Application Outlook (Revenue, USD Billion, 2019–2030)

Inspection

Gauging

Code Reading

Localization

End User Outlook (Revenue, USD Billion, 2019–2030)

Automotive

Electronics & Semiconductor

Pharmaceuticals

Food & Packaging

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Regional Outlook of the Vision Sensor Market

The global Vision Sensor market has been categorized into several important geographical regions, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In this section, authors of the report have studied the presence of the global Vision Sensor market across major geographies. Moreover, the estimated market share, market size, revenue contribution, sales network and distribution channel, and other crucial elements of each regional segment have been detailed in the report.

Key reasons to buy the Global Vision Sensor Market report:

The latest report comprehensively studies the global Vision Sensor market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.

The report offers an insightful analysis of the regional outlook of the market.

It offers a detailed account of the end-use applications of the products & services offered by this industry.

Our reports will help you solve the following issues: –

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Our research and insights help our clients to anticipate upcoming revenue compartments and growth ranges. This help our client to invest or divest their assets.

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Our research and insights help our clients in identifying compatible business partners.

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