The overall 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 12.20%. The growth of the electronics and electrical industry, the use of machine vision technology in the automotive industry, and the focus of manufacturing companies on cost and time savings are the factors driving the demand for vision sensors.
Cognex (US), Keyence (Japan), Teledyne (US), Sick AG (Germany), and Baumer Holdings (Switzerland) are among the major players in the vision sensor market. Product launches and developments, mergers and acquisitions, expansions, agreements, collaborations, joint ventures, and partnerships are a few key strategies adopted by market players to gain a competitive edge.
Cognex is a provider of machine vision products that can capture and analyze visual information to automate tasks primarily in the manufacturing sector. The company offers a variety of products, including vision software, machine vision systems, vision sensors, and identification (ID) products. The company’s machine vision products help automate the manufacturing and tracking of discrete items that include mobile phones and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing and distribution processes. The companys vision sensors provide easy and reliable inspections and are designed for various applications, such as checking the presence and size of manufactured components. These sensors help manufacturers to increase profitability by streamlining their processes. Cognex offers the In-Sight 2000 series of vision sensors to ensure reliable inspection performance in a single setup environment.
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Keyence Corporation stood second in the vision sensor market in 2017. It offers photoelectric, fiber optic, laser, positioning, vision, and inductive proximity sensors, as well as network communication units used for presence/absence and part differentiation applications. It also provides measurement sensors such as laser displacement sensors and profilometers, optical/digital micrometers, 3D interference measurement sensors, spectral interference displacement sensors, and contact displacement/LVDT sensors, as well as image and 3D measurement systems. Keyence Corporation employs a large number of sales engineers throughout the world enabling invaluable direct on-site support. This direct approach allows the company to meet customers’ needs at every stage of their businesses, from design and research through production and beyond. Keyence Corporation serves over 200,000 customers in nearly 70 countries around the world. Keyence recently launched the IV-H series of vision sensors that increases the stability and functionality of visual inspection. These new sensors are intended to work in multiple object detection applications that require multiple sensors.
Teledyne Technologies stood third in the vision sensor market in 2017. The company’s Digital Imaging segment provides image sensors and digital cameras for use in industrial, scientific, medical, and photogrammetry applications; hardware and software for image processing and automatic data collection in industrial and medical applications; and manufacturing services for microelectromechanical systems. This segment also offers light detection and ranging systems; focal plane arrays, sensors, and subsystems; and image processing algorithms and infrared camera systems. The company has a wide range of line scan sensors for inspection and detection applications. The company focusses on innovations and has launched several innovative products in the past few years. Teledyne’s GV 4000 vision system offers higher processing power, more storage space while reducing power consumption by the sensor. The company has made several critical partnerships with industry leaders, such as the MiQro Innovation Collaborative Centre, for the development and prototyping of MEMS.
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
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