Report Ocean recently released a research report on the Machine Vision and Vision-Guided Robotics Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
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.
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.
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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.
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.
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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
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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
Table of Content
Chapter 1: Global Machine Vision and Vision-Guided Robotics Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Machine Vision and Vision-Guided Robotics market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Machine Vision and Vision-Guided Robotics Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Machine Vision and Vision-Guided Robotics market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Machine Vision and Vision-Guided Robotics market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Machine Vision and Vision-Guided Robotics market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Machine Vision and Vision-Guided Robotics market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Machine Vision and Vision-Guided Robotics business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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