Vision Sensor Market Cops $4.5 Billion By 2023

MarketsandMarkets’ report, “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”, indicates that the market is expected to grow from $2.5 billion in 2018 to $4.5 billion by 2023 at a CAGR of 12.2%. Factors driving demand for vision sensors include the use of machine vision technology in the automotive industry and the focus of manufacturing companies on cost and time savings.

 

Notable Findings

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  • Automotive industry to account for largest size of vision sensor market from 2018 to 2023.
  • Inspection and code reading applications will boost demand for less than 3D vision sensors during forecast period.
  • APAC to hold largest share of vision sensor market from 2018 to 2023.
  • Major players in the vision sensor market include Cognex (US), Keyence (Japan), Teledyne (US), Sick AG (Germany), and Baumer Holdings (Switzerland).

Thirsty for greater knowledge and illumination? Request a sample of the “Vision Sensor Market” report.

 

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