Meticulous Research® recently released a report titled “Robotic Vision Market by Offering, Type (2D, 3D, 4D), Application (Welding & Soldering, Assembling & Disassembling, Material Handling, Identification & Feature Extraction), End User (Industrial, Commercial), and Geography – Global Forecasts to 2029.” The report predicts that the global robotic vision market will grow to $5.2 billion by 2029, at a compound annual growth rate of 11%. Factors contributing to this growth include the increasing use of 3D vision systems in industrial robotics, the rise of Industry 4.0, and the heightened demand for automation in quality inspection processes.
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The market is benefitting from supportive government policies aimed at accelerating industrial automation. Many governments around the world have recognized the importance of automation in improving efficiency and are actively promoting the adoption of robotic vision systems. This, in turn, has created substantial growth opportunities. However, challenges persist. For example, the complexity involved in integrating these systems and the high initial installation costs can limit widespread adoption. Nevertheless, ongoing advancements in artificial intelligence and machine learning, along with the increasing adoption of embedded vision systems, present promising trends in the market.
The market can be broken down into several key segments. By offering, the market is split into hardware and software components. In 2022, the hardware segment is expected to hold the largest market share, driven by strong demand for CMOS sensors and other components essential for robotic vision systems. The increasing use of robots for repetitive tasks in industrial environments is further bolstering demand for hardware solutions. At the same time, the software segment is anticipated to grow at a faster rate, as AI and machine learning technologies continue to enhance the capabilities of vision systems.
Looking at the different types of vision systems, 3D vision systems are set to dominate the market by 2022, driven by rising demand from industries such as automotive and food & beverage. These systems enable higher accuracy and precision in automation, making them ideal for tasks like quality inspection. Meanwhile, the 4D vision systems segment is poised for the highest growth rate during the forecast period. The ability of 4D systems to capture time as an additional dimension offers significant advantages in dynamic and real-time applications, which is driving their adoption.
The application of robotic vision systems spans a wide range of industries and tasks. Among these, measurement, inspection, and testing applications are expected to account for the largest market share in 2022. The high accuracy and speed offered by robotic vision systems are essential in industries where quality assurance is critical. The identification and feature extraction segment is expected to grow the fastest, as advances in image processing and pattern recognition technologies enable more sophisticated applications.
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Industries adopting robotic vision systems include the industrial, commercial, and government sectors. Among these, the industrial sector is projected to hold the largest share of the market in 2022. This is driven by the need for increased automation, particularly in the automotive and electronics sectors, where speed and precision are paramount. In the commercial sector, industries such as logistics and healthcare are increasingly adopting robotic vision systems to enhance efficiency and reduce costs. The government sector is also showing interest, particularly in areas like security and defense, where robotic vision can improve surveillance and monitoring capabilities.
In terms of geography, Asia-Pacific is expected to lead the market, driven by strong government support for automation and significant investments in advanced manufacturing technologies. Countries like China, Japan, and South Korea are at the forefront of this trend, implementing advanced robotic systems to enhance productivity and competitiveness. As the demand for high-quality and zero-defect products continues to rise, the region is witnessing a surge in the deployment of machine vision systems across various industries. North America and Europe are also prominent markets, benefiting from a robust industrial base and a strong emphasis on innovation. The automotive and healthcare sectors in these regions are increasingly investing in robotic vision systems to meet the growing consumer demand for efficiency and precision.
Overall, the robotic vision market is positioned for significant growth in the coming years, driven by technological advancements, increasing automation, and a growing focus on quality assurance. As companies seek to streamline operations and enhance productivity, the adoption of robotic vision systems will become more prevalent, further expanding the market. Manufacturers and developers in this space must navigate challenges such as integration complexity and cost barriers while leveraging opportunities presented by AI and machine learning advancements to maximize their potential in this evolving landscape.
Key Players:
The key players operating in the robotic vision market include FANUC Corporation (Japan), Qualcomm Technologies, Inc. (U.S.), Hexagon AB (Sweden), ABB Group (Switzerland), Teledyne Dalsa Inc. (Canada), Cognex Corporation (U.S.), Basler AG (Germany), OMRON Corporation (Japan), National Instruments Corporation (U.S.), Keyence Corporation (Japan), Sick AG (Germany), Tordivel AS (Norway), Advantech (Taiwan), ISRA Vision (Germany), Yaskawa America, Inc. (Japan), Cadence Design Systems, Inc. (U.S.), Panasonic Holdings Corporation (U.S.), Allied Vision Technologies GmbH (Germany), MVTec Software GmbH (Germany), Xenics NV (Belgium), Industrial Vision Systems Ltd (U.K.), and Apera AI (Canada).
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Key Questions Answered in the Report:
- Which are the high-growth market segments based on offering, type, application, end user, and geography?
- What was the historical market size for robotic vision?
- What are the market forecasts and estimates for the period 2022–2029?
- What are the major drivers, restraints, opportunities, challenges, and trends in the robotic vision market?
- Who are the major players, and what are their market shares?
- How is the competitive landscape in the robotic vision market?
- What are the recent developments in the robotic vision market?
- What are the different strategies adopted by the major players in the robotic vision market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the robotic vision market, and how do they compete with the global players?
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