COVID-19 impact on the 3D Machine Vision Market

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COVID-19 impact on the 3D Machine Vision
Market 3D Machine Vision Market with COVID-19
impact, by Offering (Hardware and Software),
Product (PC-based and Smart Camera-based),
Application, Vertical (Industrial and
Non-Industrial) Geography - Global Forecast
till 2025 https//www.marketsandmarkets.com/Marke
t-Reports/3d-machine-vision-market-4125387.html
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The 3D machine vision market is projected to
reach USD 2.4 billion by 2025 from USD 1.5
billion in 2020 it is expected to grow at a CAGR
of 9.4 from 2020 to 2025. The rising awareness
of consumers about product quality has led to an
increased demand for quality inspection and
automation of end products. A growing number of
companies are focusing on automation systems to
reduce their production costs post-COVID-19 But
due to the lockdown across countries, companies
are facing severe cash flow issues and are
deferring new projects related to the
implementation of 3D machine vision in their
factories.   The ongoing COVID-19 pandemic has
caused disruptions in economies and supply
chains, thereby causing companies operating in
different industries to adopt a global supply
chain model. A number of manufacturing companies
have halted their production, which has
collaterally damaged the supply chain and
negatively impacted the 3D machine vision
market. Browse 181 market data Tables and 84
Figures spread through 243 Pages and in-depth TOC
on "3D Machine Vision Market with COVID-19 impact
- Global Forecast till 2025."
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Cameras expected to lead hardware segment for 3D
machine vision market The 3D machine vision
market for hardware is expected to hold the
largest share during the forecast period. The
cameras segment in hardware is projected to grow
at the highest CAGR from 2020 to 2025. Cameras in
machine vision systems play an important role in
capturing 3D images. The high demand for
high-quality images and quick image processing is
fueling the growth of the cameras segment of the
market. The smart camera-based machine vision
system is expected to grow at a faster rate
during the forecast period as smart camera-based
machine vision systems are cost-effective,
compact, and flexible since it is easier to
implement changes in these systems based on
revised regulations and standards. Ask PDF
Brochure https//www.marketsandmarkets.com/pdfdow
nloadNew.asp?id4125387 Positioning Guidance
to hold the highest share among Smart
Camera-based applications in the 3D machine
vision during the forecast period The smart
camera-based systems segment of the 3D machine
vision market for positioning guidance is
expected to grow at the highest CAGR as well as
will hold the largest share from 2020 to 2025.
This is because the smart camera-based 3D machine
vision systems are mostly preferred by
manufacturers for flexible robotic vision
inspections for processor development and the
round-the-clock operations. The automotive
industry increasingly depends on robotic vision
inspection technology.
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Food beverages in industrial vertical to grow
at the fastest rate in the 3D machine vision
market during the forecast period The 3D machine
vision market for food beverages is projected
to grow at the highest CAGR during the forecast
period. This growth can be attributed to the use
of 3D machine vision in the food industry as
several companies use 3D machine vision systems
for application-specific solutions in the areas
of grading, sorting, portioning, processing,
quality checking during processing, and
packaging. The market is also expected to witness
stable growth during the COVID-19 crisis owing to
the increasing global demand for food and
beverages. Also, the growing food production
capacity and the increasing automation in the
food industry in APAC are fueling the growth of
the 3D machine vision market for food beverages
in APAC. Request Free Sample Pages https//www.m
arketsandmarkets.com/requestsampleNew.asp?id41253
87 Postal Logistics to hold the largest market
in the non-industrial vertical for  3D machine
vision  market during the forecast period The 3D
machine vision market for postal and logistics
will hold the largest market share in the
non-industrial vertical during the forecast
period. 3D machine vision-based autonomous
navigation (self-localization, obstacle
detection, docking) helps in providing the
required flexibility and free-navigation
capability in crowded environments, for
inter-cell transportation logistics services.
However the outbreak and spread of COVID-19 have
impacted the postal and logistics activities as
most of these services remained shut across the
world.
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APAC held the largest market share in the 3D
machine vision market between 2020 and 2025 The
3D machine vision market in APAC is expected to
hold a major market share during the forecast
period as countries in APAC such as China, Japan,
India, and South Korea have some of the largest
manufacturing facilities wherein automation of
manufacturing processes has been taken as the
highest priority. Also, strong competition among
consumer electronics companies in APAC is likely
to boost the adoption of machine vision systems
in the region. The growing awareness about and
demand for high-quality and zero-defect products
has fueled the need for 3D machine vision in
inspection-related applications in the
manufacturing fields.
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However, the outbreak of COVID-19 has
significantly affected the manufacturing sector
of APAC. As the neighboring countries are linked
to one another through trade relations and supply
chain the entire region is affected with the
outbreak of COVID-19 which will have a
significant impact on the said market in this
region for the forecast period. Key Market
Players The key players in the ecosystem of the
3D machine vision market profiled in this report
are OMRON Corporation (Japan), Keyence
Corporation (Japan), Cognex Corporation (US),
Basler AG (Germany), National Instruments (US),
ISRA Vision AG (Germany), TKH group
(Netherlands), Stemmer Imaging (Germany), MVTec
Software GmbH (Germany), and Tordivel AS (Norway).
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