According to the latest report by IMARC Group, titled "Vision Guided Robotics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global vision guided robotics market reached a value of US$ 6.1 Billion in 2021. Vision guided robotics refer to computer operated robots that are generally used for inspection and detection of faults in industrial machines. They are widely adopted for multiple tasks that are beyond the potential of humans, including dimension and appearance inspection and picking and positioning. They are usually equipped with vision processing and lighting systems, image sensors, and lenses and communication tools that allow simultaneous operations in one process. As a result, they aid in automating manual work, improving the speed of production and eliminating expensive fixtures while significantly enhancing the overall productivity.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Vision Guided Robotics Market Trends:
The global market is primarily driven by the increasing demand for vision guided robots across the industrial sector. Along with this, the rising adoption of automation on account of rapid digitization in multiple sectors and the escalating need for enhanced safety for workers and equipment across factories are creating a positive outlook for the market. In line with this, continual technological advancements and the widespread integration of three-dimensional (3D) technology and high-definition (HD) cameras with vision guided robot systems are providing lucrative growth opportunities in the market. Additionally, the increasing deployment of the product in autonomous cars for assisting drivers in recognizing and identifying potential hazards is contributing to the product uptake. The market is further driven by the growing product utilization in the manufacturing of defense systems and advanced weapons. Other factors, including rapid industrialization and extensive research and development (R&D) activities conducted by key players, are also favorably influencing the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 13.4 Billion by 2027, exhibiting a CAGR of 14.42% during 2022-2027.
- On the basis of the product type, the market has been bifurcated into 2D- and 3D-vision system robots.
- Based on the component, the market has been segmented into hardware, software and services.
- On the basis of the industry verticals, the market has been categorized into the automobile, electrical and electronics, aerospace and defense, foods and beverages, healthcare and pharmaceutical, and metal processing.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include ABB Ltd., Allied Vision Technologies GmbH, Basler AG, Bastian Solutions LLC (Toyota Industries Corporation), Cognex Corporation, DENSO Corporation, FANUC Corporation, ISRA Vision AG (Atlas Copco), Kawasaki Heavy Industries Ltd., OMRON Corporation, Universal Robots A/S (Teradyne Inc.) and Yaskawa Electric Corporation.
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