According to a new market report by Lucintel, the future of the global vision sensor market looks promising with opportunities in the automotive, electronics, healthcare, and food & packaging industries. The global vision sensor market is expected to decline in 2020 due to the global economic recession led by the COVID-19 pandemic. However, the market will witness recovery in the year 2021, and it is expected to grow with a CAGR of 12% from 2020 to 2025. The major growth drivers for this market are the growth of the consumer electronics and electrical industries and high focus of manufacturing companies on cost and time saving.
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In this market, inspection, gauging, and code reading are the applications of vision sensor. Lucintel forecasts that code reading is expected to witness the highest growth over the forecast period because code reading will be a crucial activity in industries, such as food & beverages, packaging, and logistics, in the coming years.
Within this market, automotive will remain the largest end use industry segment over the forecast period due to increasing demand for these sensor in inspection, identification, and localization applications.
Asia Pacific is expected to witness the highest growth over the forecast period due to growth of the automotive, healthcare, and food & packaging industries.
Omron, Basler AG, Sick AG, Datalogic, Balluff, and Teledyne Technologies Inc. are among the major manufacturers of the global vision sensor market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global vision sensor market by sensor type, application, end use industry, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Vision Sensor Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data on the trends and forecast for the global vision sensor market by sensor type, application, end use industry, and region as follows:
By Sensor Type [$M shipment analysis for 2014 – 2025]:
Less than 3D Vision Sensor
3D Vision Sensor
By Application [$M shipment analysis for 2014 – 2025]:
Inspection
Gauging
Code Reading
By End Use Industry [$M shipment analysis for 2014 – 2025]:
Automotive
Electronics
Healthcare
Food & Packaging
Others
By Region [$M shipment analysis for 2014 – 2025]:
North America
United States
Canada
Mexico
Europe
Asia Pacific
China
Japan
India
South Korea
Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.