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COVID-19 impact on the 3D Machine Vision Market

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.

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COVID-19 impact on the 3D Machine Vision Market

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  1. MarketsandMarkets Presents 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/Market-Reports/3d-machine-vision-market-4125387.html

  2. 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."

  3. 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/pdfdownloadNew.asp?id=4125387 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.

  4. 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.marketsandmarkets.com/requestsampleNew.asp?id=4125387 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.

  5. 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.

  6. 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).

  7. About MarketsandMarkets MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of markets.

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