Seizing Opportunities in the Vision Sensor Market: Navigating Towards a $4.5 Billion Valuation by 2023

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MarketsandMarkets Presents
The 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 12.2. Major factors
surging the demand for vision sensors include the
growth of the electronic and electrical industry,
the use of machine vision technology in the
automotive industry, and the focus of
manufacturing companies on cost and time savings.
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MarketsandMarkets Presents
Automotive Industry to account for largest size
of Vision Sensor Market from 2018 to 2023 The
automotive industry is expected to be the key
end-user industry for vison sensors owing to the
increasing demand for these sensors in
inspection, identification, and localization
applications. Inspection of various parts and
components, identification of faulty components,
misalignment of parts and components, and guiding
robotic arms to perform complex tasks on the
assembly line will be some of the key
applications, which will boost the demand for
vision sensors from this industry. Increasing
adoption of factory automation to reduce
manufacturing time and cost spent on inspection
will boost the demand for these sensors from
North America, APAC, and Europe.
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MarketsandMarkets Presents
Inspection and code reading applications will
boost demand for less than 3D Vision Sensors
during forecast period Less than 3D sensors will
hold the largest share of the Vision Sensor
Market during the forecast period. The use of
these sensors in line scan, area scan, and
inspection, gauging, code reading, and
localization applications across end-user
industries such as automotive, electronics
semiconductor, pharmaceuticals, food packaging
will drive the market for these sensors. The
demand from these sensors will be high in APAC,
Europe, and North America during the forecast
period. Get PDF Brochure _at_ https//www.marketsandm
arkets.com/pdfdownloadNew.asp?id123423890
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MarketsandMarkets Presents
APAC to hold largest share of Vision Sensor
Market from 2018 to 2023 Asia Pacific (APAC) is
expected to account for the largest share of the
overall Vision Sensor Market in 2018 and is
likely to exhibit the highest CAGR during the
forecast period. Major factors driving the growth
of the Vision Sensor Market in APAC include the
increased spending on industrial automation to
reduce manufacturing costs, minimize time to
market, and improve quality standards across
different end-user industries such as automotive,
electronics, food beverages, and packaging.
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MarketsandMarkets Presents
Key Players Cognex (US), Keyence (Japan),
Teledyne (US), Sick AG (Germany), and Baumer
Holdings (Switzerland) are among a few major
players in the Vision Sensor Market. Browse For
More Details - https//www.marketsandmarkets.com/M
arket-Reports/vision-sensor-market-123423890.html
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MarketsandMarkets Presents
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MarketsandMarkets Presents
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