Friday, 13 January 2023 09:33 AM
Company Update
WILMINGTON, DE / ACCESSWIRE / January 13, 2023 / Transparency Market Research Inc. - According to a study published by Transparency Market Research, the global industrial camera market is expected to grow at a CAGR of 5.4% during the forecast period from 2022 to 2031.
Industrial cameras have helped in analyzing minute components, regulating manufacturing cycles, and tracking units on conveyors in different end-use industries such as oil & gas, medical, automotive, and manufacturing. Industrial cameras have the capability to deliver in extreme conditions such as high pressure, temperature, and vibration.
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New product launches are helping leading industrial camera market players to create new revenue streams and gain a competitive edge over other players. For example, in June 2021, Teledyne DALSA launched a new line of cameras suitable for use in different machine vision application areas.
Furthermore, prominent industrial camera industry players are collaborating with other players to expand market presence and improve revenue. Leading players are likely to improve production capacities in order to meet consumer demand.
Key Findings of Market Study
- Increase in Demand for Automated Quality Inspection Activity: Industrial cameras are extensively used for automated quality inspection purposes in smart factories, which has fueled the growth of the global market. Leading players are investing in research & development activities to manufacture robotic vision cameras. Demand for robotic vision cameras in different end-use industries is likely to expand industrial cameras market size during the forecast period.
- Rise in Demand for Area Scan Cameras: In terms of product type, the global market has been trifurcated into area scan cameras, line scan cameras, and 3D cameras. The area scan camera segment is anticipated to account for the largest market share during the forecast period. Area scan cameras can be installed easily and are more cost-effective than other cameras. This is projected to drive the segment in the next few years.
Industrial Camera Market - Key Drivers
- Growing integration of factory automation in the manufacturing sector to assist in Industry 4.0 initiatives is driving the industrial camera market
- Rise in inclination toward digital networking and artificial intelligence is projected to help fuel market demand
- Increase in concerns about safety of employees working in the mining and construction industries is triggering the demand for industrial cameras
- Advancements in sensors used in industrial cameras are likely to boost product demand and trigger market development during the forecast period
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Industrial Camera Market - Regional Insights
- Asia Pacific is expected to account for dominant market share during the forecast period due to continuous growth in the manufacturing sector in China and India
- North America market is anticipated to grow at a rapid pace during the forecast period led by rise in demand in different end-use industries such as automotive and consumer electronics in the U.S. and Canada
Industrial Camera Market-Key Players
Small presence of international and local players has ensured that competition in global market is not intense. Entry of new companies, during the forecast period, is likely to intensify the competition.
Well-established players are investing significantly in research and development activities to manufacture improved industrial cameras that meet customer requirements across different end-use industries. Rise in demand for improved industrial cameras is likely to propel business growth in the next few years.
Prominent companies in the market are Keyence Corporation, Teledyne DALSA, Industrial Video and Control Company, FLIR Machine Vision, and Jenoptik.
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The global industrial camera market has been segmented as follows:
Product Type
- Area Scan Camera
- Line Scan Camera
- 3D Camera
- Others (thermographic camera, microscopy camera, etc.)
Application
- Quality Assurance and Inspection
- Measurement
- Positioning and Guidance
- Others (traffic control, etc.)
Interface Standard
- GigE Vision
- USB 3.0
- Camera Link
- CoaXPress
- FireWire
- Others (pixel-shift, etc.)
Sensor Type
- CCD
- CMOS
End-use
- Industrial Manufacturing
- Automotive
- Food & Beverage
- Oil & Gas
- Mining
- Medical
- Others (packaging & printing, etc.)
Distribution Channel
- Direct Sales
- Indirect Sales
Regions Covered
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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SOURCE: Transparency Market Research inc.