A sensing and computing system and method for capturing images and data regarding an object and calculating one or more parameters regarding the object using an internal, integrated CPU/GPU. The system comprises an imaging system, including a depth imaging system, color camera, and light source, that capture images of the object and sends data or signals relating to the images to the CPU/GPU, which performs calculations based on those signals/data according to pre-programmed algorithms to determine the parameters. The CPU/GPU and imaging system are contained within a protective housing. The CPU/GPU transmits information regarding the parameters, rather than raw data/signals, to one or more external devices to perform tasks in an industrial environment related to the object imaged.