Thanks to strong demand from the mobile robot market and robot picking applications, 3D cameras are expected to lead the global machine vision market growth in the next five years. The global 3D machine vision camera market is expected to grow at a compound annual growth rate (CAGR) of 13% from 2022 to 2028, much higher than the expected 6.4% growth of the global machine vision market. Global 3D camera sales are expected to grow from $767 million in 2022 to nearly $1.6 billion in 2028, with time-of-flight (ToF) and stereo-vision solutions expected to grow particularly strongly.

8C-PCNT02 According to Interact Analysis’s latest “Machine Vision” research report, the global machine vision market sales in 2023 will be $6.26 billion, down 2.8% from 2022. Despite a small contraction in the market size in 2023, we expect the global machine vision market to return to steady growth in the next five years, with a CAGR of 6.4%. In 2024, the market size is expected to grow by a modest 1.4%.

The global 3D camera market is expected to grow strongly at an average annual rate of 13% over the next five years

Types of 3D cameras

Depending on the technology route, 3D cameras can be divided into 4 product types, each with key features and advantages for different applications.

Structured light 3D camera

The basic principle of Structured light 3D cameras is to project a sequence of 8C-PCNT02 light with a certain structure onto the surface of the photographed object in the form of a coded pattern, and analyze the degree of distortion or distortion when the returned encoded pattern interacts with the object. Calculate the depth and shape of the object being photographed in the scene. This type of camera is commonly used in scenarios that require accurate measurement and image acquisition, and is currently deployed in bin picking solutions. Structured light 3D cameras are generally more expensive than other 3D camera types. The Zivid 2 camera is an example of a structured light 3D camera.

Stereo vision 3D camera

Stereo-vision cameras (Stereo-vision cameras) are imaging devices consisting of two cameras that use binocular parallax to calculate depth. First, the two cameras capture images of the same object from different viewing angles. Then, the parallax between the corresponding points in the image is used to calculate the depth information of the objects in the scene. This type of camera is most widely used in the field of robotics and is particularly suitable for autonomous driving. These two application areas offer tremendous growth potential for this type of camera. Basler’s Stereo camera is one of those stereoscopic cameras.

Time-of-flight 3D camera

Time-of-flight 3D cameras are imaging devices that determine the distance of objects in a scene by measuring the Time it takes for light to travel from the camera to the object and back. These cameras are most commonly used in applications where high-speed image acquisition is required, but image quality requirements are not stringent. Time-of-flight 3D cameras are also a lower-cost option for mobile robots, enabling them to avoid obstacles during operations and navigate in situations 8C-PCNT02 where other robots are present. Lucid’s Helios 2 is an example of a time-of-flight 3D camera.

Laser triangulation 3D camera

Laser triangulation 3D cameras are based on the principle of laser triangulation to measure distances and create 3D images of objects. This type of camera projects laser lines or patterns on the surface of the target object, and then observes the degree of deformation or displacement when the laser formed spot interacts with the object, and determines the depth or three-dimensional structure of the object after calculating and processing the captured information. Due to its high precision and resolution, this type of camera is more commonly used in quality inspection applications and can also be used for mobile robot navigation. LMI’s Chroma-Scan camera is a product example of a laser triangulation 3D camera

Binocular stereo vision and time-of-flight 3D cameras are less expensive, but we expect strong market growth in these two categories.

The chart above shows the forecast change in market size for each product type in the 3D camera market. Of note is the growth of binocular stereo cameras and time-of-flight cameras – although we expect these two types of 3D cameras to grow by only 3% and 2% respectively in terms of market size by 2028, the growth in terms of shipments will be substantial because of the significantly lower price points compared to the other two product types. We expect a compound annual growth rate of 19% for binocular stereo cameras and 17.3% for time-of-flight cameras during the forecast period (2023-2028), which is much higher than the overall growth forecast for the 3D machine vision camera market.