The global robotic vision market is proliferating, garnering increasing traction. Robotic vision technology finds applications in the development of both humanoid robots and industrial robots. Industrial automated machines equipped with robotic vision provide ideal solutions for customized production. The market growth attributes to the emergence of autonomous robots helping the image processing. Besides, significant investments in robotic vision escalate the growth of the market.
According to Market Research Future (MRFR), the global Robotic
Vision Systems Market is projected to garner substantial accruals by
2023, growing at an impressive CAGR during the forecast period (2018 –
2023). The recent shift in focus towards the customized mass production
positively impacts the market growth. Upgrades in machine learning and deep
learning technologies for improved image processing are offering opportunities
for the development of the market.
Global Robotic Vision Market - Competitive
Analysis
Highly competitive, the robotic vision market appears to be
fragmented due to the presence of several well-established players.
Incorporating strategic initiatives such as collaboration, acquisition,
partnership, product/ technology launch, and expansion, these players try to
maintain their market positions.
These strategies help the market players to gain a larger
competitive advantage in the market and to meet their expansion plans. They
focus on new technology development initiatives and geographical expansion. The
market would witness relentless innovations and developments, which, as a
result, would intensify the competition among these players.
Major Players:
Players leading the global robotic vision market include
Yaskawa Electric Corporation (Japan), FANUC Corporation (Japan), OMRON
Corporation (Japan), Cognex Corporation (U.S), KUKA AG (Germany), ABB Group
(Switzerland), Keyence Corporation (Japan), Kawasaki Heavy Industries Ltd.
(Japan), SICK AG (Germany), and Basler AG (Germany), among others.
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Increasing demand for automated industrial processes from
various sectors further drives the growth of the global robotic vision market.
Increase in investments by production and manufacturing companies in research
and development of robotic vision technologies scale up the development of the
market. Additionally, the rise in demand for improved quality, safety, and
efficiency of industrial automated process influence the global robotic vision
market share.
Moreover, increased flexibility and rapid deployment of
robotic vision in industrial production lines are some other factors pushing
the growth of the market. Furthermore, the increasing adoption of cognitive
humanoid robots for various applications boosts the global robotic vision
market. Conversely, compatibility issues, and low adoption of robotic vision in
small-scale enterprises are the major factors expected to impede the market
growth.
Global Robotic Vision Market - Segmentation
The report is segmented into five dynamics;
By Component: Hardware
(cameras, optics, filters, lenses, sensors, others) and software (tracking,
image processing, others).
By Technology: 2D and
3D.
By Application: Material Handling, Welding,
Load/Unload, Bin Picking, Assembly, Processing, Washing, Painting, Inspection
& Testing, Assisted Living, and others.
By Vertical : Automotive, Aerospace, EMS
(electronic manufacturing services), Food & Beverages, Rubber&
Plastics, Precision Engineering & Optics, Pharmaceuticals & Cosmetics,
Consumer, Military, Healthcare, and others.
By Regions:
Europe, North America, Asia Pacific, and Rest-of-the-World.
Global Robotic Vision Market - Regional
Analysis
The Asia Pacific region dominates the global robotic
vision market. The leading market share attributes to the growing
industrialization in countries like India and China. Besides, the rising
adoption of automation in quality control and material handling applications
drives the growth of the regional market.
Moreover, significant advances in robotics, alongside the
massive uptake of automation in the burgeoning automotive sector, foster the
growth in the regional market. Also, increased R&D investments led by the
rapid economic growth in the region, and advanced automotive robotic technology
propel the regional market. The APAC robotic vision market is projected to
retain its dominance throughout the forecast period.
North America accounts for the second-largest share in the
global robotic vision market. The region is a hub for and has state-of-the-art
development centers, allowing the ease of designing, programming, and
implementation of advanced robotics. Additionally, the market growth is driven
by substantial investments by companies in the development of machine learning
and deep learning technologies for image processing.
Furthermore, the rising adoption of automation in the food and
beverage industry boosts the growth of the robotic vision market in the region.
Moreover, the presence of a well-established automotive sector and a number of
automakers who strive to improve automation in their manufacturing processes
positively impact the growth of the regional market.
The Europe robotic vision market has emerged as a promising
market globally. Factors such as the strong presence of auto manufacturers and
the need for automated vehicle manufacturing processes influence the regional
market growth. Besides, increasing R&D activities to develop robotics are
other factors acting as tailwinds for the growth of the regional market.
Germany, heading with both a flourishing automotive sector and the availability
of futuristic technologies, lead the regional market.
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Industry/ Innovation/ Related News
October 08, 2020 ----- Omron
Corporation (Japan), an electronics industrial automation company, launched the
world’s first robotic integrated controller – NJ501-R. New fully automated
production system offers real-time synchronization between all automation
equipment, including robots, vision components, drives, and safety
equipment.
With the integrated controller, it would be possible to
automate advanced and complex manual work, simulate the design &
modification of production facilities in a virtual environment, and conduct
maintenance remotely.
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