The 3D machine vision market is expected to be worth $1.63 billion by 2020, according to report from market research firm MarketsandMarkets. 3D vision is predicted to grow at an estimated CAGR of 10.53 per cent between 2015 and 2020.
The report predicts that camera sales for 3D vision will grow at a CAGR of 11.50 per cent between 2015 and 2020, while the market for positioning and guidance is expected to grow at a CAGR of 13.18 per cent for the same period.
The growth in positioning and guidance applications using 3D machine vision systems is because of an increase in use of robotics in automotive, pharmacy, food and beverage and other sectors, according to the report.
The study also cites the rising demand for automation in electronic and automotive manufacturing in the Asia Pacific region as driving the 3D machine vision market.