South & Central America 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

South & Central America 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 South & Central America vision sensor market was valued at US$ 130.35 million in 2022 and is expected to reach US$ 266.22 million by 2030; it is estimated to register a CAGR of 9.3% from 2022 to 2030 .

Adoption of AI-Based Vision Sensors Fuels South & Central America Vision Sensor Market

Growing adoption associated with significant benefits offered by AI technology to the industries is creating opportunities in the vision sensor market growth. The demand for AI-based vision sensors has surged in recent years. AI-based vision sensors are revolutionizing different applications and industries. This encourages manufacturers to develop AI-based vision sensors that optimize quality control by identifying defects, improving production efficiency, and reducing waste, which is expected to create lucrative opportunities in the vision sensor market. For instance:
In October 2023, PROPHESEE S.A. launched the GenX320 Event-based Metavision sensor for AI applications. This fifth generation Metavision sensor is available in a tiny 3×4 mm die size, specifically developed for integration into ultra-low-power Edge AI vision devices. This vision sensor provides numerous benefits and expertise to the users by delivering low latency, speed, power efficiency, privacy, and dynamic range for diverse applications.
In October 2021, KEYENCE CORPORATION launched the IV2 Series Vision Sensor to solve issues with conventional vision sensors and smart cameras that face troubles while finding individual differences in products, ambient light, and changes in the positions of parts. The IV2 Series was developed by utilizing AI to automatically detect the presence/absence of differences between registered images in acceptable and unacceptable products.
In 2023, two new ISOCELL Vizion sensors were announced by Samsung Electronics, a global pioneer in innovative semiconductor technology: the ISOCELL Vizion 931, a global shutter sensor, and the ISOCELL Vizion 63D, a time-of-flight (ToF) sensor. With a focus on providing visual capabilities for a broad range of next-gen mobile, commercial, and industrial use cases, Samsung's ISOCELL Vizion series, which was first unveiled in 2020, features ToF and global shutter sensors.

South & Central America Vision Sensor Market Overview

The growth of the South America vision sensor market is driven by increasing government initiatives and funding to encourage the adoption of sustainable solutions. In 2023, the Minister of Development, Industry, Commerce and Services (MDIC) of Brazil, Geraldo Alckmin, and the President of the National Bank for Economic and Social Development (BNDES) signed a Technical Cooperation Agreement (ACT) that included an investment of US$ 40 million for decarbonization of the automotive chain and promoting the adoption of electric vehicles (EVs) in the region. Vision sensors are highly used for inspecting the battery production process and quality control in the assembly of electric vehicles. Thus, the growing adoption of electric vehicles among consumers further propels the vision sensor market in South America.

South & Central America Vision Sensor Market Revenue and Forecast to 2030 (US$ Million)

South & Central America Vision Sensor Market Segmentation

The South & Central America vision sensor market is categorized into type, application, industry vertical, and country.

Based on type, the South & Central America 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 South & Central America 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 South & Central America 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 South & Central America vision sensor market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America 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 South & Central America vision sensor market.

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