The global robotic vision market is predicted to grow at an estimated 9.5% CAGR over the course of the forecast period, reaching a revenue of US$2.41 billion in 2022 and US$5.98 billion by 2032. To integrate and enhance unique applications in every industry, major manufacturers have been creating high-performance industrial robots for decades.
They have a variety of robot families, ranging from traditional robotic arms to cooperative systems with different payload capacities that make use of IoT and AI technology. For the needs of end users, System Integrators with necessary products offer an expanding range of automation solutions. Robots, controls, and software make up a unique automation package that melds into manufacturing procedures. These elements are thought to encourage the rise of the market share for robotic vision.
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Robotic Vision Market: Key Players
- Omron Adept Technologies, Inc (US),
- MVTec Software GmbH (Germany),
- Matrox Electronic Systems Ltd. (Canada),
- ABB Ltd (Switzerland),
- Point Grey Research, Inc. (US),
- Cognex Corporation (US),
- Matrox Electronics Systems Ltd (Canada),
- Keyence Corporation (Japan),
- IVISYS (Sweden).
Robotic Vision Market: Drivers and Restraint
Intelligent homes are specifically designed for the ageing population, where robots are capable to assists the elderly people in day-to-day tasks. The demand for intelligent homes is continuously increasing, as the ageing population is growing with significant rate across the globe.
Increase in demand for intelligent homes, government regulations about sanitation in food processing industry and rising need of precise, safe and reliable vision guided robots in different verticals are major driving factors of the robotic vision market.
However, high initial investment and lack of global standards for robotic implementation are some of the major challenges for the robot vision market.
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Robotic Vision Market: Segmentation
On the basis of component, the market can be bifurcated into hardware and software. Hardware segment consists of camera, sensors, lightning, and optics. Camera, sensors, lightning and optics incorporate with each other in order to facilitate the collapsible free movement of robot in environment.
Camera, lightning and optics are used to capture the images while sensors allows obstacle free movement of robots. Software segment is composed of object tracking and image processing software.
Robotic vision has high demand in wide range of industries including food processing, automotive and aerospace for several applications. On the basis of applications, the robotic vision market is segmented into inspection & testing, material handling, manufacturing, assembling and packaging.
Manufacturing and packaging are the dominating segments in the category, as the governments across the major countries maintain stringent sanitation standards in food processing & packaging industry.
Robotic Vision Market: Region-wise Outlook
North America was the largest market of robotic vision in terms of consumption in 2015. US was the leading market in the region, as there was significant growth in rate of deployment of reliable and precise vision guided robot systems in food and manufacturing industries in 2015.
By the end of year 2015, Asia Pacific was the fastest growing market for robotic vision, due to significant growth in demand for industrial robots in manufacturing and automotive industries in the region. China, South Korea and Japan were the leading regional markets in Asia Pacific.
Regional analysis for Robotic Vision Market includes
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of the Western Europe
- Eastern Europe
- Rest of the Eastern Europe
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