Europe 3D Machine Vision Market to witness growth more than 5per cent CAGR till 2027
Published on : Saturday 06-06-2020
The history of machine vision systems dates back to 1930s with traditional systems using filters and photomultiplier detectors.
June 2020 – Growing technological advancements leading to transformation of conventional machine vision systems is poised to increase its application thus anticipated to drive the growth of Europe 3D machine vision market over the forecast years. The history of machine vision systems dates back to 1930s with traditional systems using filters and photomultiplier detectors. However, the machine vision technology has witnessed huge transformations over the years and the technology is evolving to become more sophisticated. Moreover, the Global Association for Vision Information has proclaimed that its use case into visual intelligence for robots is anticipated to further enhance over the future years.
The rise in investments for R&D activities to improve machine vision technology and related developments is fuelling this trend. The Industrial revolution 4.0 stresses on connectivity with technologies such as Industrial Internet of Things (IIoT) driving the smart factory trend. Robotics play a vital role in IIoT. As the industrial robots are also used to optimise logistics and transfer processes, machine vision systems powered by IIoT gather image data to assist in the communication between products and manufacturing equipment. Leading machine vision provider, Intel Corporation supplies industrial machine vision solutions powered by IIoT. Thus, the upcoming industrial transformation is poised to fuel the demand of machine vision technologies for enabling smart factory environments, hence contributing towards the growth of Europe 3D machine vision market over the forecast period.
Key findings of the report include:
· The Europe 3D machine vision market was valued at US$ 370.0 Mn in 2018 and is anticipated to grow at a CAGR of 5.25% over the forecast period owing to rise in industrial automation across Europe.
· 3D machine vision components are anticipated to grow fastest in Europe 3D machine vision market owing to rise in demand from automation solutions provider.
· Germany held the highest market share in Europe 3D machine vision market in 2018 and is expected to grow at fastest rate over forecast period owing to high presence of automobile and manufacturing industries in the country.
Some of the players operating in the Europe 3D machine vision market are Allied Vision Technologies GmbH, Basler AG, Canon Europe, Chromasens GmbH, FRAMOS GmbH, IDS Imaging Development Systems GmbH, i-mation GmbH, ISRA VISION AG, MVTec Software GmbH and STEMMER IMAGING AG Corporation amongst others.