Northbrook, IL -- (SBWIRE) -- 08/13/2018 -- The global 3D machine vision market is expected to be valued at USD 2.13 Billion by 2022, growing at a CAGR of 11.07% between 2017 and 2022. The key opportunities for this market include increasing demand for application-specific 3D machine vision systems (ASMV) and growing demand for plug and play 3D machine vision systems. Some of the key factors driving the growth of this market are integration of 3D vision systems with robot controllers, rising demand for 3D object analyses in manufacturing applications, and increasing demand for non-industrial 3D machine vision systems.

The key players operating in the 3D machine vision market include Cognex Corporation (U.S.), Keyence Corporation (Japan), ISRA Vision AG (Germany), Sick AG (Germany), Basler AG (Germany), Stemmer Imaging (Germany), National Instruments (U.S.), MVTec Software GmbH (Germany), Tordivel AS (Norway), and LMI Technologies (Canada). Most of the leading companies focus on organic strategies such as new product developments and launches and inorganic strategies such as agreements, partnerships, and collaborations to boost their revenues.

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Top 2 players in the 3D machine vision market:

Cognex Corporation holds a leading position in the global machine vision market due to its strong employee base and diversified geographic presence, with offices and distributors located throughout the Americas, Europe, and APAC. The company also focuses on developing solutions for various applications such as automotive, consumer electronics, and logistics to grow in the 3D machine vision market. It provides high resolution smart cameras, DS1000 3D sensors, and VisionPro 3D, which deliver accurate, three dimensional, real-time information that could enhance vision performance for assembly, logistics, and robot applications. In 2016, Cognex acquired three providers of 3D machine vision solutions. Apart from this, the company has a number of patents registered on its name. As of December 31, 2015, Cognex had 437 granted patents and 358 pending patent applications worldwide. Though the company has a wide geographical presence, its presence in Japan is limited. Cognex is, currently, aiming to increase its market presence in Japan to compete with the companies operating in the 3D machine vision market in the country.

Keyence Corporation held the second position in the 3D machine vision market in 2015. The company is highly focused toward enhancing its product portfolio through product developments and strengthening its sales to ensure medium- and long-term growth. In 2016, the company developed new products including a high-speed microscope, and an ultra-high speed and high-capacity multi-camera image processing system. It is among the world's most innovative companies. Recently, the company has launched its first coordinate measurement machine with handheld probe and augmented reality support. The new XM-Series model is portable and could be highly useful to accelerate and streamline the creation of 3D models of existing parts for augmented reality-assisted procedures. The company's CV-X image processing system provides stable recognition of objects with a speed of 64,000 profiles per second. Thus, it is expected to remain one of the key players in the 3D machine vision market, offering more innovative products in the near future.

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