Industrial Cameras Market REPORT OVERVIEW
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The global industrial cameras market size was USD 1882.7 million in 2022 and market is projected to touch USD 3609.5 million by 2031, exhibiting a compound annual growth rate (CAGR) of 7.2% during the forecasting period.
A crucial element of machine vision systems are industrial cameras. The conversion of optical impulses into organised electrical signals is the most crucial task. A camera that has been intended for industrial use must be high-performance, repeatable, and durable to handle the demands of tough industrial conditions. As they are utilised in production processes for inspection and quality control, these are frequently referred to as machine vision cameras. Industrial cameras, also referred to as industrial thermal cameras, are made to operate in demanding conditions including intense heat, pressure, and vibration.
It is employed in the industrial manufacturing, automotive, oil & gas, and medical end-use industries to control the production cycle, monitor units on conveyors, and detect extremely small parts. Industrial camera systems are protected from environmental elements like humidity, dust, and dangerous gases by a sturdy enclosure. Due to the rise in manufacturing activities, automation in end-use industries, technological advances, and the demand for quality testing and inspection, the worldwide industrial cameras market is anticipated to expand at a respectable rate during the forecast period.
COVID-19 Impact: Limitations on Production to Hamper Market Growth
Governments all around the world have imposed lockdowns, hurting the majority of industrial players globally and forcing people to stay inside their houses, which has decreased human contact. In order to ensure business continuity during the COVID-19 pandemic, which is anticipated to impede the market's growth during the projected period, the majority of industry businesses have permitted employees to work from home. The limitations placed on production activities to conform to social distance norms are projected to impede the development of the electronics sector, which is thus anticipated to restrain the growth of the industrial cameras market. The global COVID-19 crisis has disrupted business operations in the electronics sector. Over the anticipated period, the market is likely to be impacted by the movement in customer choice toward necessities.
LATEST TRENDS
"Easy Installation and Cost-effectiveness to Augment Demand for Area Scan Cameras"
During the projection period, the demand for area scan cameras is projected to be driven by factors like quick area capture, simple installation, and affordability. Because more industries are adopting these cameras, the demand for line scan cameras, 3D cameras, and others (such microscope cameras and thermographic cameras) is anticipated to expand significantly.
Industrial Cameras Market SEGMENTATION
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- By Type
Based on type; the market is divided into area scan camera and line scan camera.
In terms of product, area scan camera is the largest segment.
- By Application
Based on application; the market is divided into manufacturing, medical and life sciences, security and surveillance, intelligent transportation system (its) and others.
In terms of application, manufacturing is the largest segment.
DRIVING FACTORS
"Concentration on Rigorous Quality Testing and Inspection to Drive the Quality Assurance and Inspection Segment "
During the forecast period, the quality assurance and inspection application segment is estimated to account for a significant portion of the worldwide industrial cameras market. A lot of businesses are putting their efforts into producing high-quality items through meticulous quality testing and inspection. During the projection period, there are projected to be considerable possibilities for market participants due to the rise in the use of automation applications including measurement, positioning, and guiding to reduce costs associated with business operations and enhance the world transportation system. This is anticipated to drive the industrial cameras market growth.
"Rise in Need for Quality Automation and Inspection in Factories to Promote Market Growth"
Industrial cameras are being used more frequently for quality assurance and inspection, measurement, positioning, and guidance in a variety of applications, including the production of machinery, food, computers, and electronic products. This is due to the industrial manufacturing sector's rapid growth. In the near future, this is probably going to increase the demand for industrial cameras. The trend toward automation, robotization, Industry 4.0, as well as other elements like zero-error tolerance, digital networking, artificial intelligence, and deep learning systems, facilitates the integration of quality control into the production process. During the projected period, an increase in product variety is also anticipated to drive up demand for industrial digital cameras. In highly automated production processes, the root cause of errors may not always be immediately apparent to the human eye. Even the smallest errors can be promptly detected and recorded by industrial cameras. As a result, it is anticipated that the market for industrial cameras would expand significantly over the course of the forecast period.
RESTRAINING FACTORS
"Complexity in the Application of the Cameras to Hinder Market Growth"
commercial camera requires unique connectors and cables. Compared to analogue, IEEE 1394, and GigE standards, they are more expensive. In order to use the cameras with NI IMAQ image acquisition devices, they also need camera files. These factors are anticipated to constraint growth of industrial camera market.
Industrial Cameras Market REGIONAL INSIGHTS
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Asia Pacific dominated the market and owns largest portion of industrial cameras market share. During the forecast period, Asia Pacific is expected to lead the global market for industrial camera. Due to their rapidly expanding automotive and manufacturing sectors, India, China, and Japan currently hold the top three positions in the global market for industrial camera. Due to the increased use of these cameras in the food and beverage industry as well as other sectors in China and Japan, the markets for these nations' industrial camera are also expanding significantly. Due to the presence of well-established industries including pharmaceutical, consumer electronics, and automotive in the area, Asia Pacific accounts for a significant portion of the worldwide industrial camera market.
KEY INDUSTRY PLAYERS
The main strategies used by major players are product creation, product portfolio expansion, and mergers and acquisitions. Some of the major companies competing in the global industrial camera market include Allied Vision Technologies GmbH, Jenoptik AG, Teledyne Technologies, Keyence Corporation, Pixelink, The Imaging Source Europe GmbH, IMPERX, Inc., JAI, Basler AG, and Industrial Video & Control Co. The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.
List of Market Players Profiled
- Basler AG (Germany)
- Teledyne (U.S.)
- Sony (Japan)
- TKH Group (Netherlands)
- FLIR Systems, Inc. (U.S.)
- Cognex Corporation (U.S.)
- Toshiba Teli (Japan)
- Baumer Holding AG (Switzerland)
- Hikvision (China)
INDUSTRY DEVELOPMENT
June, 2021:" "Jenoptik AG announced plans to expand its optics manufacturing capacities. The company invested in a high-tech manufacturing building as well as a new office complex and acquired a 24,000 sqm (260,000 sqft) plot of land in Airportpark Dresden in May 2021 for this purpose. This expansion is likely to boost the production of its medical use cameras as well.
REPORT COVERAGE
This market study includes a thorough analysis of the market's overall growth prospects on a global and regional level. It also illuminates the thorough competitive environment of the global industry. The research also includes a dashboard overview of the top organisations, including their effective marketing approaches, market share, and most recent advancements in both historical and contemporary contexts. Through a variety of market estimation and data validation procedures, the data is further collated and validated.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 1882.7 Million in 2022 |
Market Size Value By |
US$ 3609.5 Million by 2031 |
Growth Rate |
CAGR of 7.2% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the industrial cameras market size expected to touch by 2031?
The global industrial cameras market size expected to touch USD 3609.5 million by 2031.
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What CAGR is the industrial cameras market expected to exhibit by 2031?
The industrial cameras market is expected to exhibit a CAGR of 7.2% by 2031.
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Which are the driving factors of the industrial cameras market?
Concentration on rigorous quality testing and inspection and rise in need for quality automation and inspection in factories are the driving factors of the industrial cameras market.
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Which are the top companies operating in the industrial cameras market?
Basler, Teledyne, FLIR Systems Inc, Jai, Cognex, Vieworks Co., Ltd., Baumer, Microscan Systems (Omron), Sony, Toshiba Teli, National Instruments, IDS, The Imaging Source, Daheng Image, HIK Vision, Allied Vision/TKH Group, Huaray Tech are the top companies operating in the industrial cameras market.