Dublin, Jan. 11, 2021 (GLOBE NEWSWIRE) -- The "Vision Guided Robotics Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Component Type, Type, and Industry Vertical" report has been added to ResearchAndMarkets.com's offering.
Rapid Expansion among Industrial Application in Asia Pacific to Lead Vision Guided Robotics Market Growth
The market was valued at US$ 4,616.6 million in 2019 and is projected to reach US$ 12,958.9 million by 2027; it is expected to grow at a CAGR of 13.8% during the forecast period.
Advancement of camera technologies and processing power are enabling robots to take on more amorphous tasks such as driving, flying, and mobile activities, among others, which requires obstacle identification and avoidance capabilities through vision systems. The major areas for robot manufacturers to develop a robust vision-guided robot include fast increasing computing power, advancement in imaging hardware, improvement in high-level software libraries, and reducing the cost of computer memory. Also, the advancement of machine vision will bolster the automation technology in the industrial sector in the coming years.
The vision guided robotics market report has been derived from market trends and revenue generation factors from five different regions across the globe: North America, Europe, Asia Pacific, Middle East & Africa, and South America. APAC is expected to be the fastest growing region in the global vision guided robotics market during the forecast period. Whereas, APAC was followed by Europe and North America hold the highest market share in the vision guided robotics market. The vision guided robotics market is expected to experience significant growth in the coming years due to increasing demand for automation.
The market for vision-guided robotics is highly fragmented, and the industry is constantly experiencing the emergence of a new player with innovative technologies. With an objective to sustain in the industry and compete with its peers, the companies are adopting several organic and inorganic strategies which include competitive pricing, miniaturized camera sensors, mergers and acquisition, and additional aftersales service.
These strategies offer the companies a significant competitive edge over the others. The vision-guided robotics market is poised to flourish in the coming years owing to the fact that, several developing country governments are attracting foreign direct investments (FDI) to optimize hectic and monotonous operations performed across industries with ease and precision. Additionally, the demand for 3D vision technology is growing at a rapid rate among the end users, which is compelling the manufacturers to innovate and develop robust software and hardware for robotic systems.
Major players operating in the vision guided robotics market include ABB Ltd., Fanuc Corporation, Basler AG, Cognex, ISRA Vision, Yaskawa Electric Corporation, Universal Robots AS, Denso Corporation, and Omron Corporation.
COVID-19 Impact on Vision Guided Robotics Market
As of August 2020, the US, India, Russia, Spain, Germany, China, France, Iran, and the UK are some of the worst affected countries in terms of confirmed cases and reported deaths. In the wake of strong lockdown regulations imposed by the majority of the countries across the globe, the automotive and electronics sector is experiencing a significantly lower demand in respective regions.
The North America region, especially the U.S., witnessed an unprecedented rise in number of confirmed cases resulting in large-scale lockdown across different regions. Moreover, the manufacturers and brands are facing various short-term challenges regarding maintaining the supply chain activities through retailers, distributors, and suppliers of vision guided robotics across the North American countries.
Countries such as the US and Canada limited the production of automobiles and electronics owing to the outbreak of virus. However, ease of lockdown restrictions along with emphasis toward effective restoration of automotive industry related supply chain operations has mitigated the negative influence of the COVID over the market growth.
Key Topics Covered:
1. Introduction
1.1 Scope of the Study
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
4. Vision Guided Robotics Market Landscape
4.1 Market Overview
4.2 Ecosystem Analysis
4.3 PEST Analysis
5. Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Government Support for the Development and Deployment of Robotics
5.1.2 Rise in aging population worldwide resulting in labour shortage
5.1.3 Rapid Expansion in Manufacturing Industry
5.1.4 Rapid Expansion in Industrial Application
5.2 Key Market Restraints
5.2.1 High capital required for initial deployment of vision guided vision guided robots
5.3 Key Market Opportunity
5.3.1 Widespread Adoption of Industrial Automation in Diverse Industries
5.4 Future Trends
5.4.1 Integration of Artificial Intelligence and Big Data
5.5 Impact Analysis of Drivers and Restraints
6. Vision Guided Robotics - Global Market Analysis
6.1 Global Vision Guided Robotics Market Overview
6.2 Global Vision Guided Robotics Market Forecast and Analysis
6.3 Market Positioning
7. Vision Guided Robotics Market Revenue and Forecasts to 2027- Component
7.1 Overview
7.2 Global Vision Guided Robotics Market Breakdown, By Component, 2018 & 2027
7.3 Hardware Market
7.3.1 Overview
7.3.2 Hardware Market Forecast and Analysis
7.4 Software Market
7.5 Services Market
8. Vision Guided Robotics Market Revenue and Forecasts to 2027-Type
8.1 Overview
8.2 Global Vision Guided Robotics Market Breakdown, By Type, 2018 & 2027
8.3 2D-Vision System Robots
8.3.1 Overview
8.3.2 2D-Vision System Robots Market Forecast and Analysis
8.4 3D-Vision System Robots Market
9. Vision Guided Robotics Market Revenue and Forecasts to 2027-Industry Vertical
9.1 Overview
9.2 Global Vision Guided Robotics Market Breakdown, By Industry Vertical, 2018 & 2027
9.3 Automotive Market
9.3.1 Overview
9.3.2 Automotive Market Forecast and Analysis
9.3.3 Global Vision Guided Robotics Market, by Automotive - Revenue and Forecast to 2027 (USD Million)
9.4 Electrical & Electronics Market
9.5 Aerospace & Defence Market
9.6 Food & Beverages Market
9.7 Healthcare & Pharmaceutical Market
9.8 Metal Processing Market
10. Vision Guided Robotics Market - Geographical Analysis
11. Impact of Coronavirus Outbreak
11.1 Impact of COVID-19 Pandemic On Global Vision guided robotics Market
11.1.1 North America: Impact Assessment of COVID-19 Pandemic
11.1.2 Europe: Impact Assessment of COVID-19 Pandemic
11.1.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
11.1.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
11.1.5 South America: Impact Assessment of COVID-19 Pandemic
12. Vision Guided Robotics Market - Industry Landscape
12.1 Market Initiative
12.2 Merger and Acquisition
12.3 New Development
13. Key Players
13.1 Key Facts
13.2 Business Description
13.3 Products and Services
13.4 Financial Overview
13.5 SWOT Analysis
13.6 Key Developments
- ABB Ltd.
- Basler AG
- Cognex
- Denso Corporation
- Fanuc Corporation
- ISRA Vision
- Omron Corporation
- Pleora Technologies Inc
- Universal Robots AS
- Yaskawa Electric Corporation.
For more information about this report visit https://www.researchandmarkets.com/r/c50t2p
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