The global smart vision sensors market size is expected to reach USD 31.73 Billion in 2028, and register a CAGR of 18.6% during the forecast period. Rapid market revenue growth of smart vision sensors can be attributed to increasing use of smart vision sensors in automotive industry. Smart vision optical sensors capture and process live images with panoramic views and depth cues and play a crucial role in safety of the vehicle. It is also used to help drivers detect pedestrians, other cars, and obstacles as well as alert them to stop or slow down. Smart vision sensors are also widely used in electronics & semiconductor, automotive, pharmaceuticals, food & packaging, and other industries and applications.
Increasing use of smart vision sensors in various end-use industries is rapidly driving market revenue growth. Use of smart vision sensors in industrial settings has garnered significant traction over last few years. These sensors offer several benefits over host-based systems and provide innovative functionalities in measurement, inspection, and various other vision-based applications. In industrial-settings, smart vision sensors aid in decision making associated with localized pass/fail, networked management capabilities, and I/O part rejection. This results in smaller system footprints and in turn, simplifies and streamlines machine vision applications. Majority of such sensors aid manufacturers and system integrators in customization for image enhancement, object measurement, and feature location, among others.
Additionally, increasing use of computer vision or machine vision in code reading application is significantly propelling demand for smart vision sensors. Code reading is a critical activity in packaging, food & beverage, and logistics industries. Handheld or fixed code readers deploying machine vision imaging play an important role in identifying, marking, and tracking products during transits or conveyor belts to the desired 1D or 2D code readers. Growing need from food & packaging and automotive industries for smart vision sensors is expected to have a significant impact on code reader technology for smart vision sensors.