Global Vision Sensor Market Trends, Forecast Report 2025-2037
Vision Sensor Market size is anticipated to rise from USD 3.79 billion to USD 17.12 billion, reflecting a CAGR of around 12.3% during the forecast timeline, from 2025 through 2037. In the year 2025, the industry size of vision sensor is assessed at USD 4.16 billion.
The growth of the global market can be attributed to increasing utilization of vision sensors in the electronic devices, for various purposes, such as on-road safety, automation, efficient governance, and others. For instance, in 2022, the electronics segment was valued at about USD 700 billion.
Additionally, higher demand for vision sensors in food packaging and increasing disposable income will spur the market revenue. It is noticed that in 2019, the global food packaging industry was projected to reach approximately USD 300 billion. Moreover, spiking demand for vision sensors in the automobile industry is further expected to propel the market growth. As of 2021, the sales of automobiles worldwide dropped to about 65 million units. Vision sensors are highly used in industries such as automotive, pharmaceuticals, food packaging, and others to determine product quality.
Vision Sensor Sector: Growth Drivers and Challenges
Growth Drivers
- Growing Demand for Vision Sensors in Traffic Safety - As per the data provided by the World Health Organization, it was stated that about 1.3 million people die annually in road traffic accidents. Traffic safety is a major issue that needs to be resolved and many technological advancements took place to fill the gap. Owing to their capacity to assess the accuracy, movement, and existence of objects using pictures taken by a camera, vision sensors become crucial for preventing traffic accidents by keeping an eye on the movement of vehicles.
- Rising Utilization of Robots in Multiple Industries - It is observed that every year, approximately 380,000 robots are manufactured and launched globally.
- Increasing Requirement for 3D Printing Materials - The 3D printing material segment is projected to reach 4 billion dollars by 2026.
- Rising Adoption of QR Code Across the Globe - The number of QR code scans was estimated to be about 80 million in 2022 and is forecasted to reach approximately 100 million by 2025.
Challenges
- Requirement for Higher Initial Investment
- Presence of Alternatives in the Market
- Decline in the Supply-Chain due to COVID-19
Vision Sensor Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
12.3% |
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Base Year Market Size (2024) |
USD 3.79 billion |
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Forecast Year Market Size (2037) |
USD 17.12 billion |
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Regional Scope |
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Vision Sensor Segmentation
End-user (Electronics, Automotive, Pharmaceuticals, Food Packaging)
The pharmaceuticals segment is projected to witness lucrative growth over the forecast period. The growth of the segment is impelled by growing spending on the R&D of medicines. This represents a growing opportunity for companies that manufacture goods related to vision sensors, as it allows them to extend their reach into new markets. Additionally, there is also potential for them to improve existing products and develop new ones that cater specifically to the needs of end-users. For instance, in 2021, the total spending on medicines was projected to be around USD 570 billion.
Our in-depth analysis of the global market includes the following segments:
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By Type of Sensor |
|
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By Application |
|
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By End-User |
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Customize this ReportVision Sensor Industry - Regional Synopsis
The Asia Pacific vision sensor market is set to account for majority revenue share by 2037. The market growth is ascribed to rising disposable income and ongoing development in automation techniques. For instance, Singapore became the country with the highest disposable income with a figure of about USD 30,000 per capita in 2021. Moreover, rising R&D in pharmaceuticals and growing penetration of major key players are further anticipated to hike the market revenue.
Companies Dominating the Vision Sensor Market
- Ifm Electronic GmbH
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Cognex Corporation
- Basler AG
- Balluff Automation India Pvt. Ltd.
- Datalogic S.p.A.
- Honeywell International Inc.
- Omron Corporation
- Sick AG
- Keyence Corporation
- Siemens Aktiengesellschaft
In the News
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Datalogic S.p.A. announces the launch of new series of level 2D scanners, QuickScan 2500. The series offers both corded and cordless versions of these scanners. These 2D scanners are powerful, long-lasting, and affordable.
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Basler AG to deliver more sustainable and innovative software, cameras, 3D-vision, and lighting at VISION 2022. The range of computer vision solutions was displayed, inspired by “Accelerate your Vision” at VISION held in Stuttgart.
Author Credits: Abhishek Verma
- Report ID: 3163
- Published Date: Jan 28, 2025
- Report Format: PDF, PPT
