Vision Sensor Market size was valued at USD 3.79 billion in 2024 and is likely to cross USD 17.12 billion by 2037, registering more than 12.3% CAGR during the forecast period i.e., between 2025-2037. 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 primarily attributed to the 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.
Global market trends such as higher demand for vision sensors in food packaging and increasing disposable income are projected to influence the growth of the market positively over the forecast period. It is noticed that in 2019, the global food packaging industry was projected to reach approximately USD 300 billion. Moreover, the spiking demand for vision sensors in the automobile industry is further expected to propel the growth of the market during the forecast period. 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. Hence, all these factors are projected to hike the market growth over the forecast period.
Growth Drivers
Challenges
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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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End-user (Electronics, Automotive, Pharmaceuticals, Food Packaging)
The global vision sensor market is segmented and analyzed for demand and supply by end-user into electronics, automotive, pharmaceuticals, food packaging, and others. Out of these, the pharmaceuticals segment is projected to witness noteworthy growth over the forecast period. The growth of the segment is accounted for the 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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Asia Pacific Market Forecast
The Asia Pacific vision sensor market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037. The growth of the market 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 growth of the market over the forecast period.
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Author Credits: Abhishek Verma
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