3d measurement sensors in logistics Market

The 3D measurement sensors in logistics market size is expected to grow from US$ 127.50 million in 2022 to US$ 242.13 million by 2030; it is estimated to record a CAGR of 8.3% during the forecast period.

The logistics industry has grown tremendously due to the growing e-commerce industry which creating demand for 3D measurement sensors in logistics market. According to the International Air Transport Association, in 2021, 2.14 billion people shopped online, which is ~27.6% of the world's population. According to the International Trade Administration, China is the largest e-commerce market in the world, generating ~50% of the world's transactions. In 2021, the country generated ~US$ 1.5 trillion in revenue through the e-commerce sector, becoming the largest e-commerce market in the world. The growing online shopping industry is fueling the growth of the logistics industry in China, further creating favorable situation for the 3D measurement sensors in logistics market growth. As the logistics industry is growing at a fast pace in the country, the government of China is taking various initiatives for its further growth. In January 2023, the government of China rolled out a five-year plan to upgrade the logistics sector. Under this plan, the government will promote the digital transformation of the sector, enhance the competitiveness of businesses, and improve the quality and efficiency of logistics services. Thus, such initiatives by the government to upgrade the logistics industry in order to ease logistic operations are boosting the growth of the 3D measurement sensors in logistics market.

3D measurement sensors in logistics market is witnessing technological advancement by market players. Various manufacturers are developing new technology and solutions as the demand for automation increases in the logistics industry, creating demand for 3D measurement sensors in logistics market. Analog Devices, Inc. offers 3D depth-sensing technology, which enables scanning, dimensioning, and asset tracking for transportation and logistics applications. The 3D ToF is a scannerless LIDAR that uses high-power optical pulses in durations of nanoseconds to capture depth information from a scene of interest. Such market players boosting the demand for 3D measurement sensors in logistics market in the forecasted period. In addition, various other market players are developing innovative solutions. In May 2023, Vzense Technology Inc. introduced a 3D depth-sensing camera that can be used for inventory tracking. This camera uses infrared light to sense the distance between objects and help track the movement of objects in 3D space. Thus, all the above factors have surged the demand for automation in the logistics industry, which is expected to fuel the growth of the 3D measurement sensors in logistics market during the forecast period.

Increased e-commerce activity is one of the major factors boosting automation in the logistics industry, thereby driving the 3D measurement sensors in logistics market growth. As per the Digital Commerce 360 analysis of U.S. Department of Commerce figures, the US e-commerce sales reached US$ 1.03 trillion in 2022, which increased by 7.7% from US$ 960.44 billion in 2021. According to the International Trade Administration (ITA), in 2022, approximately 75% of the Canadian population (~27 million people) was using e-commerce, which is expected to reach 77.6% by 2025. Hence, this growing need for automation fueling the 3D measurement sensors in logistics market size during the forecast period.

Stereo vision technology can identify objects in a scene, even if they are partially obscured. This can be useful for tasks such as picking and packing and ensuring that the correct products are being shipped. Stereo vision can be used to measure the dimensions of objects with high accuracy. This information can be used to ensure that products meet the quality standards and optimize the loading and unloading of trucks and containers. The increase in logistics operations creates a demand for stereo vision technology to ease logistics operations and creating demand for 3D measurement sensors in logistics market. For instance, according to the US Department of Commerce, during the first quarter of 2023, e-commerce estimates increased by 7.8% from the first quarter of 2022, while total retail sales increased by 3.4%. Therefore, the rise in the retail and e-commerce industry led to increase in warehouse and logistics, contributing to the adoption of technologies such as stereo vision and propelling the 3D measurement sensors in logistics market growth.

Micro-Epsilon Messtechnik GmbH & Co KG, Infineon Technologies AG, Sony Semiconductor Solutions Corp, Cognex Corp, ifm Electronic GmbH, Intel Corp, LMI Technologies Inc, Keyence Corp, OMRON Corp, and Sick AG. are a few key 3D measurement sensors in logistics market players.