Powered by the increasing use of robotics in the automotive industry, among others, the 3D machine vision market is on target for an 11.07 percent compound annual growth rate between now and 2022, according to market research firm Markets and Markets. Analysts expect the market to be valued at $2.13 billion over the next five years.
“The growth of this market is mainly driven by factors such as increasing demand for 3D object analyses in manufacturing applications and rising demand for non-industrial 3D machine vision systems,” says a report from Markets and Markets.
Cameras will hold the largest share of the 3D machine vision market for hardware in the next five years. Cameras play one of the most critical roles in machine vision systems, capturing 3D images.
The Asian-Pacific region held the largest share of the 3D machine vision market in 2016, and the region is expected to continue to dominate the industry between 2017 and 2022.
“The increasing adoption of automation across all industries, especially in consumer electronics and automotive, is the major reason for the growth of the 3D machine vision market in APAC,” says the Markets and Markets report. “Also, the presence of major manufacturing hubs, such as China, Japan, India, and South Korea is contributing to the growth of the 3D machine vision market in this region. In addition, the Japan Industrial Imaging Association’s efforts in developing and promoting 3D imaging technologies in APAC are further boosting the growth of the 3D machine vision market in the region.”