Industrial Cameras Market is Growing at a CAGR of 6.5% during the forecast period of 2023 to 2031

15 Mar 2023

The global market for industrial cameras is projected to expand at a CAGR of 6.5% during the forecast period of 2023 to 2031.  The global market for industrial cameras is being driven by the rise of manufacturing and automation across a variety of industry verticals. Industrial camera systems are often utilized for inspection reasons in factory automation. The development of increasingly advanced networking systems has resulted from the formation of the intelligent industry. On the global market, this presents enormous prospects for industrial camera manufacturers. Concern for the safety and security of workers in hazardous locations, such as mines and construction sites, is driving the industrial camera industry forward. To enhance their revenue, market participants are monitoring the trends in the industrial camera sector.

In a variety of end-use industries, industrial cameras are used in harsh conditions such as high temperatures, pressure, and vibration. The production cycle in industries such as industrial manufacturing, automotive, oil & gas, and pharmaceuticals can be regulated by these cameras. The worldwide need for industrial borescopes is growing. In the manufacturing industry, cameras with advanced technology are gaining favor. Many industries are rapidly using industrial security cameras. Consequently, it is anticipated that the rising demand for industrial cameras would have a positive effect on the global industrial camera market in the near future.

Intelligent camera technology is an all-encompassing inspection and industrial automation solution. Owing to its accuracy and adaptability, this intelligent camera system is quickly becoming an industry standard for a wide range of international businesses. Moreover, smart cameras offer integrated software packages and a range of possibilities for applications such as measurement, quality control, and inspection.

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According to the analysis on the future of the industrial camera business, the global market demand for robotic vision cameras is rising. The camera for robotic vision features a large, adjustable workspace, a wide field of view, and resistance to ambient light and reflections. It can be constructed using synchronized laser scan technology, providing for stability at high speeds. Thus, it is anticipated that technological advancements would fuel the growth of the industrial camera market in the future years.

In applications such as the production of equipment, food, and electronic components, the usage of industrial cameras for quality assurance and inspection, measurement, positioning and guidance, and other purposes has increased as the industrial manufacturing sector has expanded. This is anticipated to contribute to industrial camera market demand over the forecast period.

The demand for zero-error tolerance, digital networking, artificial intelligence, and deep learning systems is expected to expand the industrial camera market in the near future. Various end-use industries are investing in the upgrade of their equipment and machinery, a key reason driving the expansion of the industrial camera market. Over the forecast period, the market is anticipated to be further propelled by a rise in the propensity of various business verticals to own various types of industrial cameras.

USB 3.0 will certainly lead the global industry in the near future, according to an interface standard study of the global industrial camera market. This is a result of its simple connectivity and rapid bandwidth. In addition, GigE Vision, Camera Link, CoaXPress, and FireWire are gaining popularity due to their low-cost, quick data transfer in several synchronizations.

Asia-Pacific is predicted to have the lion's share of the global market over the forecast period. In the near future, the rise of the manufacturing sectors in China, India, and Japan is predicted to have a positive effect on regional market statistics. Europe and North America dominated the global marketplace in 2022. In these regions, businesses have expanded their investments in innovative manufacturing equipment.

The market is consolidated, with a few large businesses controlling a substantial portion. Participants in the industry are focused on building programmable smart cameras for AI applications. Many industries are gradually adopting AI-based solutions, which is anticipated to enhance demand for intelligent cameras over the forecast period. Allied Vision Technologies GmbH, FLIR Machine Vision, IMPERX, Inc., Industrial Video & Control Co., JAI, Jenoptik, Keyence Corporation, PixeLINK, Teledyne DALSA, and The Imaging Source are market leaders in industrial cameras.

Key market developments include:

  • In May 2022, Allied Vision Technologies GmbH will release its new Alvium CSI-2 camera. The new GenICam for CSI-2 access is compatible with the Vimba SDK and provides an extensive array of GenICam functionalities.
  • Basler AG revealed its aim to add stereo cameras to its 3D lineup in February 2022. Each camera would include pre-installed, adaptable onboard software that can be used for common robotics tasks like item detection and bin selection.
  • In June 2021, Jenoptik announced its desire to expand its optical production facilities. In May of 2021, the company invested in a high-tech manufacturing facility and a new office complex in Airport Park Dresden. It is also anticipated that the expansion will expand the production of the company's cameras for medical purposes.
  • Teledyne DALSA has announced that a new line camera series will appear in June of 2021. These cameras are designed for machine vision applications and are available in 4K and 2K resolutions.
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