At 12.1% CAGR, North America Vision Sensor Market is Projected to be Worth US$ 2,419.43 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the North America vision sensor market was valued at US$ 969.79 million in 2022 and is expected to reach US$ 2,419.43 million by 2030, registering a CAGR of 12.1% from 2022 to 2030. Evolution of industry 4.0 and adoption of AI-based vision sensors are among the critical factors attributed to drive the North America vision sensor market growth.

The introduction of Industry 4.0 brings several advances in the efficiency and productivity of industrial processes. Various industries use vision sensors for generating real-time visual information used in quality control processes. Industries use this information to enhance productivity, automation, and quality control in their processes, which further leads to a reduction in downtime. Vision sensors are used to detect defects or inconsistencies in product lines and enable businesses to produce high-quality products. Vision sensors are crucial for smart factories and Industry 4.0 for enabling advanced automation, smart manufacturing, and data-driven decision-making activities. They are essential for automating assembly lines, quality control, mitigating risks, and supporting businesses to produce high-quality products by minimizing errors. Thus, vision sensors help improve the overall effectiveness of equipment and minimize downtime by ensuring efficient operations and automation within modern industrial facilities.

On the contrary, high costs associated with vision sensors hamper the growth of North America vision sensor market.

Based on type, the North America vision sensor market is bifurcated into less than 3D and 3D. The less than 3D segment held 76.8% market share in 2022, amassing US$ 745.00 million. It is projected to garner US$ 1,812.09 million by 2030 to register 11.8% CAGR during 2022-2030.

In terms of application, the North America vision sensor market is categorized into inspection, gauging, code reading, and others. The code reading segment held 46.2% share of North America vision sensor market in 2022, amassing US$ 448.35 million. It is anticipated to garner US$ 1,201.58 million by 2030 to expand at 13.1% CAGR during 2022-2030.

By industry vertical, the North America vision sensor market is segmented into automotive, electronics, industrial manufacturing, food & beverages, and others. The automotive segment held 42.6% share of North America vision sensor market in 2022, amassing US$ 413.06 million. It is projected to garner US$ 1,134.42 million by 2030 to expand at 13.5% CAGR from 2022 to 2030.

Based on country, the North America vision sensor market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 81.1% share of North America vision sensor market in 2022. It was assessed at US$ 786.50 million in 2022 and is likely to hit US$ 1,999.28 million by 2030, registering a CAGR of 12.4% during 2022-2030.

Key players operating in the North America vision sensor market are Cognex Corp, Teledyne Technologies Inc, Keyence Corp, Sick AG, Balluff GmbH, Baumer Holding AG, Pepperl+Fuchs SE, Ifm Electronic GmbH, Hans Turck GmbH & Co.KG, and Leuze Electronic GmbH & Co KG, among others.

• In September 2023, Cognex Corporation (NASDAQ: CGNX) launched the In-Sight SnAPP vision sensor, redefining standards for ease of use, accuracy, and functionality in an industrial sensor. This product expands the company's capabilities into the vision-sensing space and adds US $1 billion to its served markets.
  
  
• In November 2023, Teledyne e2v, a Teledyne Technologies company and global innovator of imaging solutions, announces Emerald Gen2, its new state-of-the-art CMOS image sensor family. Built on Teledyne e2v's advanced imaging technologies, this new family delivers enhanced performance, making the new sensors ideal for a wide range of machine vision uses, outdoor surveillance, and traffic detection and monitoring cameras.

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