Industrial Camera Market Size Worth $ 21.5 billion by 2031 | CAGR: 5.4%: TMR Study
- Rising application in quality assurance and inspection in multiple industries propelling revenue generation in industrial camera market; adoption of robotics-based smart camera systems presents incredible avenue
- Strides in industry 4.0 to create several lucrative avenues; abundant uptake in manufacturing and automotive industries in Asia Pacific to unlock massive growth opportunities for market players
WILMINGTON, Del., July 28, 2022 /PRNewswire/ — Industrial inspection and security products have been widely commercialized, particularly in the manufacturing sector. Incorporation of smart manufacturing technologies has impelled the adoption of systems for quality control automation and inspection in factories. Of note, quality assurance and inspection is one of the major applications, with the segment pegged to have held largest industrial camera market share in 2021. The overall size of the industrial camera market is projected to reach US$ 21.5 Bn by 2031.
Industrial camera manufacturers, suppliers, and dealers are witnessing value-grab opportunities in rigorous product quality testing in production units. Stridently, manufacturers have benefitted from automated quality control applications in real-time tracking of the manufacturing processes. Of note, best industrial cameras equipped with robotics and integrated with machine learning technologies are growing in demand in industrial inspection applications, thus opening up profitable avenues for firms in the industrial camera market.
New imaging technologies such as image analysis software will find industrial camera applications for measurement, quality, and inspection. Moreover, data collection technologies are gaining attention of end users in key manufacturing industries, thereby expanding the avenue for stakeholders in the industrial camera market.
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Key Findings of Industrial Camera Market Study
- Use in Quality Assurance and Inspection in Factory Automation Expanding Industrial Camera Market Outlook: Widespread need for automated quality inspection in smart factories has generated incredible revenue potential for industrial camera manufacturers, suppliers, and dealers. The industrial camera market is expected to witness new revenue streams from the increasing trend of robotics technologies in Industry 4.0. The use is expected to proliferate in automated quality inspection. Growing R&D in robotic vision cameras will pave the way for new frontiers for use of cameras in industrial environment, thus catalyzing the growth of the industrial camera market. Increasing trend of robotic automation in the automotive, oil & gas, and medical industries has expanded the market prospects for smart cameras.
- R&D in Smart Camera Systems in Manufacturing Sector to Steer Revenue Growth: State-of-the art machine vision cameras are gathering traction in the manufacturing sector. Furthermore, advancement in networking technologies, practical use of artificial intelligence and deep learning systems in operational environments will stridently expand the window of opportunities for companies in the industrial camera market.
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Industrial Camera Market: Key Drivers
- Factory automation is making swift inroads in the manufacturing sector to support Industry 4.0 initiatives. The trend is increasingly influencing the dynamics of the industrial camera market.
- Advancements in sensors used in cameras for industrial applications, coupled with advances in industrial networking systems, are shaping the growth contours of the industrial camera market.
- Industrial Camera Market: Regional Dynamics
- North America has been contributing sizable revenues to the global industrial camera market. A bulk of demand for the products comes from pharmaceutical, automotive, and consumer electronics industries.
- The authors of the TMR study projects the Asia Pacific market to lead globally during the forecast period (2022–2031). Rising use of the technologies in smart factory automation particularly in India, China, and Japan, will fuel revenue growth.
Industrial Camera Market: Competition Landscape
Some of the prominent players include names such as:
- Industrial Video & Control Co.
- Basler AG
- IMPERX, Inc
- The Imaging Source Europe GmbH
- Keyence Corporation
- Teledyne Technologies
- Jenoptik AG
- Allied Vision Technologies GmbH
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Industrial Camera Market Segmentation
- By Product Type
- Area Scan Camera
- Line Scan Camera
- 3D Camera
- Others (Thermographic Camera, Microscopy Camera, etc.)
- By Interface Standards
- GigE Vision
- USB 3.0
- Camera Link
- Others (Pixel-Shift, etc.)
- By Sensor Type
- By Application
- Quality Assurance and Inspection
- Positioning and Guidance
- Others (Traffic Control, etc.)
- By End-use
- Industrial Manufacturing
- Food & Beverages
- Oil & Gas
- Others (Packaging & Printing, etc.)
- By Portability
- By Distribution Channel
- Regional Segmentation
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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