Europe Vision Sensor Market Forecast to 2030 - Regional Analysis - by Type (Less than 3D and 3D), Application (Inspection, Gauging, Code Reading, and Others), and Industry Vertical (Automotive, Electronics, Industrial Manufacturing, Food & Beverages, and

Europe Vision Sensor Market Forecast to 2030 - Regional Analysis - by Type (Less than 3D and 3D), Application (Inspection, Gauging, Code Reading, and Others), and Industry Vertical (Automotive, Electronics, Industrial Manufacturing, Food & Beverages, and Others)

The Europe vision sensor market was valued at US$ 753.63 million in 2022 and is expected to reach US$ 1,815.59 million by 2030; it is estimated to register a CAGR of 11.6% from 2022 to 2030.

Growing Funding and Investment in Developing and Advancing Vision Sensors Drive Europe Vision Sensor Market

The collaboration among the market players supports the development of cutting-edge technologies by accelerating innovation in the market. Key players in the vision sensor market are engaged in developing high-resolution sensors, artificial intelligence (AI), machine learning (ML), and image processing algorithm-based vision sensors to ease the manufacturing process and industrial automation activities. Market players increase their funding to develop smart and AI-based vision sensors to attract customers worldwide. For instance, in 2023, VoxelSensors, a firm focused on perception and sensor technologies, completed a seed fundraising round, raising US$ 5.4 million. The company intends to employ people, expand business relationships with clients in Asia and the US, and further develop its corporate roadmap with the help of funds. In 2023, SynSense, the top global provider of application solutions and ultra-low-power sensory processing hardware for commercial applications, closed a pre-B+ fundraising round that raised US$ 10 million. With a 320,000-neuron processor and the newest event-based image sensing technology, its smart vision sensor provides real-time vision processing at milliwatt power consumption. Also, in 2022, Prosperity7 Ventures (the diversified growth fund of Aramco Ventures) made a new investment in Prophesee, marking the completion of the company's Series C funding round. With support from initial Series C investors Sinovation Ventures and Xiaomi, the investment now totals ~US$ 54 million (50 million). Together with Intel Capital, Robert Bosch Venture Capital, 360 Capital, iBionext, and the European Investment Bank, they have become the newest members of an already strong group of foreign investors from North America, Europe, and Japan. Therefore, growing funding and investment in developing and advancing vision sensors and a rising number of startups are factors driving the vision sensor market growth.

Europe Vision Sensor Market Overview

Europe holds a noteworthy share of the global vision sensor market owing to high adoption and investments in vision sensors in the region. The rising use of smart vision sensors in several industries is driving the market in the region. For instance, in July 2023, Data sensing, an Italian manufacturer, extended its Smart-VS (vision sensor) series to improve detection performance. The company introduced The Smart-VS+ to support numerous industries, including automotive, industrial manufacturing, food & beverages, pharma, packaging, cosmetics, and general manufacturing. Smart-VS+ provides benefits such as increasing the total number of learning dataset images up to 20 and improving accuracy and speed for object detection. Smart vision sensors are also used to check the presence/absence and correct orientations of various objects, including labels or prints and caps, regardless of materials, sizes or formats, and colors.

Europe Vision Sensor Market Revenue and Forecast to 2030 (US$ Million)

Europe Vision Sensor Market Segmentation

The Europe vision sensor market is categorized into type, application, industry vertical, and country.

Based on type, the Europe vision sensor market is bifurcated into less than 3D and 3D. The less than 3D segment held a larger market share in 2022.

In terms of application, the Europe vision sensor market is categorized into inspection, gauging, code reading, and others. The code reading segment held the largest market share in 2022.

By industry vertical, the Europe vision sensor market is segmented into automotive, electronics, industrial manufacturing, food & beverages, and others. The automotive segment held the largest market share in 2022.

Based on country, the Europe vision sensor market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Germany dominated the Europe vision sensor market share in 2022.

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 are some of the leading companies operating in the Europe vision sensor market.

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