Pune, March 14, 2023 (GLOBE NEWSWIRE) -- Based on SNS Insider’s research, “the robotic vision market is expected to grow as more companies recognize the benefits of automation and as technology continues to advance”.
As per SNS Insider, the Robotic Vision Market had a worth of USD 2.29 billion in 2022, and it is anticipated to reach USD 4.84 billion by 2030, exhibiting a CAGR) of 9.8% during the forecast period spanning from 2023 to 2030.
Robotic Vision Market Report Scope
| Report Attributes | Details |
| Market Size in 2022 | US$ 2.29 Billion |
| Market Size by 2030 | US$ 4.84 Billion |
| CAGR 2023 to 2030 | CAGR 9.8% |
| Key Segments | • By Type (2D Vision Systems, 3D Vision Systems) • By Deployment (Robotic Guidance Systems, Detection Algorithm, Correlation-Based, Cloud Of Points, Robotic Cells, Contour-Based, Feature Extraction) • By Industry (Electrical & Electronics, Metals & Machinery, Security Service, Precision Engineering & Optics, Chemical, Rubber, & Plastic, Food & Beverages, Automobile Sector, Pharmaceuticals & Cosmetics, Others) • By Component (Software, Traditional Software, Hardware, Optics, Processors And Controllers, Cameras, Lighting, Frame Grabbers, Deep Learning Software, Others) • By Application (Welding & Soldering, Packaging & Palletizing, Assembling & Disassembling, Measurement, Inspection, & Testing, Material Handling, Painting, Cutting, Pressing, Grinding, & Deburring) |
| Company Profiles | Alpha MOS, Airsense, Odotech, Sensigent, Aryballe Technologies, Plasmion GmbH, The eNose Company, Electronic Sensor Technology, Brechbuehler, Scensive Technology and Other. |
| Market Challenges | •Difficulties in manufacturing. •Process automation. |
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Robotic vision is a field of study that deals with the development and implementation of computer vision technology in robots. Computer vision is the ability of machines to interpret and understand visual information from the environment. This information can then be used to make decisions or take actions. Robotic vision is an important aspect of robotics because it enables robots to interact with their environment and perform tasks autonomously.
Market Analysis
The robotic vision market is experiencing significant growth due to various factors. One of the primary drivers is the increasing use of 3D vision systems in industrial robotics, which enables machines to perceive and understand the environment around them in a more sophisticated way. Another factor contributing to the growth of the market is the rising demand for vision-guided robotic systems. These systems use advanced sensors and algorithms to navigate their surroundings, making them more flexible and efficient than traditional fixed automation systems.
Impact of Recession
The impact of a recession on the robotic vision market will depend on a variety of factors, including the severity and duration of the economic downturn, changes in consumer behavior, and government policies. While a recession may lead to short-term challenges for the industry, there may also be opportunities for companies that are well-positioned to adapt to changing market conditions.
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Key Regional Development
The Asia-Pacific region has been experiencing a significant surge in market growth, and this can be attributed to the increasing adoption of automation systems. One of the primary drivers of this trend is the availability of multipurpose industrial robots that are capable of performing a wide range of tasks. Many companies in the Asia-Pacific region are now investing heavily in automation technologies to stay competitive in the global marketplace.
Recent Developments Related to Robotic Vision Market
- FANUC and Cyan Tec have joined forces to bring to life the Manufacturing Technology Centre's (MTC) vision of a large-scale robotic laser cutting cell. The project aims to demonstrate the potential of automation and advanced manufacturing techniques for large-scale production in various industries. The project is an excellent example of how collaboration between industry leaders can drive innovation and advance manufacturing capabilities.
- Techman Robot, in collaboration with its distributor BlockNINE, recently made an impressive debut at Automation World with the announcement of its latest product, the TM AI Cobot series. These Collaborative Robots are designed to facilitate the transition to Industry 4.0 by combining a powerful and precise robot arm with native AI inferencing and a smart vision system. Additionally, their smart vision system allows them to perceive and adapt to their environment, making them ideal for a wide range of applications.
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Key Takeaway from Robotic Vision Market Study
- The market is poised for significant growth, with the hardware segment projected to dominate the market share. This growth is fueled by the rising demand for robots to automate repetitive tasks and the expanding use of cognitive humanoid robots.
- The 3D vision systems segment is predicted to hold the biggest share in terms of value. The high market share of this segment can be primarily attributed to the growing need for vision-guided robotic systems and the increasing demand for automation and quality inspection.
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