The global machine vision and vision-guided robotics market size were US$ 4.5 billion in 2020. The global machine vision market is forecast to reach US$ 12.09 billion by 2030 by registering a compound annual growth rate (CAGR) of 9.8% during the forecast period from 2021-2030.
Request To Download Sample of This Strategic Report :-https://reportocean.com/industry-verticals/sample-request?report_id=Pol89
Machine vision allows to capture and transfer of images to the systems, such as PC. Robotic vision, on the other hand, enables a vision system in the robots for inspection. It replaces the manual work through alternatives, such as cameras and image processing.
According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Factors Influencing
- Due to expanding industrialization in emerging economies, the machine vision and vision-guided robotics market are forecast to grow in the coming years. Moreover, these automated systems reduce the complexity and chances for human errors. As a result, the global market would grow.
- Advancements in technology, such as the emergence of the smart camera, are propelling the growth of the global machine vision and vision-guided robotics market.
- The growing number of competitors and their strategies would create significant opportunities for market growth. Companies have been focusing on developing better solutions to outgrow competitors, such as decreasing camera sensors, mergers and acquisitions, and additional aftersales services. These activities would ultimately grow the demand in the coming years.
- A high cost is required during the initial phase of the installation of the robots. As a result, it may slow down the market growth.
COVID-19 Impact Analysis
The COVID-19 pandemic may have accelerated the growth due to the high efficiency of robots. The technology reduces the need for human contact. Moreover, food delivery robots, directional guiding robots, and sterilization robots were in high demand during the pandemic period. The major contributor to the market during the pandemic period was China. Many hospitals in the country adopted this technology to limit the spread of the virus. However, disruptions in the supply chain and unavailability of raw materials created a notable slowdown in the market growth during the initial phase.
Geographic Analysis
North America is playing a crucial role in the growth of the global machine vision and vision-guided robotics market. Due to the rising adoption of advanced robotics, the region holds dominance in the market. Apart from that, the federal authorities have been frequently investing in the production of machine vision systems. As a result, it would boost the regional contribution.
The Asia Pacific market would hold a significant share during the forecast period. The manufacturing industries are using innovative technologies to amplify the work. Thus, it would boost the growth of the market for machine vision and vision-guided robotics. In addition, a rise in disposable income, price deflation, rapid urbanization, modernization may increase the demand for vision-guided robotics.
Get a Sample PDF copy of the report :-https://reportocean.com/industry-verticals/sample-request?report_id=Pol89
The growing percentage of the geriatric population, mainly in Japan and Italy, would create significant opportunities for the growth of the global machine vision and vision-guided robotics market. Apart from that, increasing government initiatives in developing nations, such as South Korea, Taiwan, India, and Singapore, may help industry players to build their production units. As a result, it would drive market growth.
Competitors in the Market
- Cognex Corporation
- Basler AG
- Absolute Vision
- ISRA Vision AG
- Teledyne Digital Imaging Inc.
- STEMMER IMAGING AG
- Eastman Kodak Company
- OMRON Corporation
- Allied Vision Technologies GmbH
- Keyence Corporation
- Other prominent players
Market Segmentation
By Component Type
- Hardware
- Software
- Services
By Type
- 2D-Vision System Robots
- 3D-Vision System Robots
By Industry Vertical
- Automotive
- Soldering and Welding
- Material Handling
- Assembling and Disassembling
- Painting and Dispensing
- Others
- Electrical & Electronics
- Soldering and Welding
- Material Handling
- Assembling and Disassembling
- Painting and Dispensing
- Others
- Aerospace & Defense
- Soldering and Welding
- Material Handling
- Assembling and Disassembling
- Painting and Dispensing
- Others
- Food & Beverages
- Material Handling
- Cutting and Processing
- Others
- Healthcare & Pharmaceutical
- Material Handling
- Others
- Metal Processing
- Assembling and Disassembling
- Milling
- Machine Tending
- Others
Request Full Report :-https://reportocean.com/industry-verticals/sample-request?report_id=Pol89
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
What is the goal of the report?
The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
During the forecast period, the report analyzes the growth rate, market size, and market valuation.
The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
Full Report Description, TOC, Table of Figure, Chart, etc.-https://reportocean.com/industry-verticals/sample-request?report_id=Pol89
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is a ‘one-stop solution’ for individuals, organizations, and industries that are looking for innovative market research reports.
Get in Touch with Us:
Report Ocean:
Email:sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 – UNITED STATES Tel: +1 888 212 3539 (US – TOLL FREE)
Website:https://www.reportocean.com/