USD 7.7 Billion
Report ID:
SQMIG45A2354 |
Region:
Global |
Published Date: October, 2024
Pages:
196
|Tables:
95
|Figures:
71
Vision Guided Robotics Market size was valued at USD 13.82 Billion in 2023 and is poised to grow from USD 14.9 Billion in 2024 to USD 27.22 Billion by 2032, growing at a CAGR of 7.82% during the forecast period (2025-2032).
Rapidly surging demand for automation across multiple industry verticals and advancements in robotics technologies are slated to boost the demand for vision guided robotics going forward. Advancements in machine vision technologies are also expected to bolster the adoption of vision guided robotics in the future. The boom in e-commerce activity is also promoting the demand for advanced logistics and warehousing solutions thereby offering new business scope for vision guided robotics providers. Surge in popularity and adoption of collaborative robots and growing application scope of vision guided robotics in healthcare are also anticipated to supplement the global vision guided robotics market growth in the long run. On the contrary, complexity in integration, high initial costs, dearth of skilled workforce, and data privacy concerns are all slated to be key restraints for vision guided robotics companies across the study period and beyond.
Global Market Size
USD 7.7 Billion
Largest Segment
2D Vision
Fastest Growth
3D Vision
Growth Rate
10.7% CAGR
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Global Vision Guided Robotics Market is segmented by Component, Type, Application, and Region. Based on Component, the market is segmented into Hardware, Software, Services. Based on Type, the market is segmented into 2D Vision, 3D Vision. Based on Application, the market is segmented into Automobile, Electrical & Electronics, Healthcare & Pharmaceutical, Aerospace & Defense, Food & Beverage, Logistics, Welding, Inspection and Cleaning, Painting and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Component
The hardware segment is expected to account for a major chunk of the global vision guided robotics market share in the future. Extensive use of advanced sensors and hardware components to ensure optimal functioning of vision guided robots are helping this segment hold sway over others. Advancements in vision guided sensors and other types of vision technology related hardware are also expected to help this segment bring in more revenue than others. High costs of advanced hardware systems are also providing new opportunities for vision guided robotics companies focusing on this segment.
On the other hand, the demand for services is slated to rise at a notable pace across the forecast period and beyond. High complexity of vision-guided robotics deployment and maintenance are expected to offer new business scope for vision guided robotics service providers going forward. Continuous need for upgrades and integration of advanced technologies are also slated to promote the demand for services. Absence of skilled professionals and hesitance of companies to spend more on acquiring skilled labor are also expected to create new opportunities for companies focusing on this segment.
Analysis by Type
2D vision segment is forecasted to account for the largest global vision guided robotics market share over the coming years. Easy integration and high reliability are key factors that are expected to help 2D vision systems to maintain their dominant stance in the market. Moreover, the user-friendly nature of 2D vision technology also makes it a popular choice among vision guided robotics companies around the world. Growing demand for industrial automation is projected to primarily cement the high share of this segment in the long run. Conveyer belts and assembly lines are slated to be prime application areas of 2D vision guided robotics.
However, the demand for 3D vision in vision guided robotics is slated to rise at a robust CAGR across the study period and beyond. The use of 3D vision systems can help improve the functionality of robots and enhance their ability to detect objects, and navigate complex environments to perform tasks with greater accuracy as compared to 2D vision. The use of 3D vision guided robots is expected to rise in bin picking, sorting, assembly, and quality monitoring applications going forward. Automotive industry is slated to emerge as the prime adopter of 3D vision guided robots in the long run.
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The Asia Pacific region is forecasted to account for a substantial share of the global vision guided robotics market in the future. Presence of a robust manufacturing industry, growing adoption of industrial automation, and rising emphasis on productivity enhancement are expected to boost sales of vision guided robotics in this region. China is expected to be the leading market owing to its efforts to enhance its manufacturing activity and maintain its dominant position in the global manufacturing landscape. Japan, India, and South Korea are slated to be other opportune markets owing to the presence of robust automotive manufacturing industry and high adoption of robotics in the long run.
The strong technological background of the North American region makes it the second-largest market for vision guided robotics providers. Growing adoption of automation across different industry verticals and availability of advanced robotics technologies are slated to offer new opportunities for vision guided robotics companies in this region. Surging investments in machine vision and robotics innovation from public as well as private companies are also estimated to create new business scope in the long run. Canada and the United States are slated to emerge as the most opportune markets in the North American region through 2031 and beyond.
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Vision Guided Robotics Market Drivers
Use of Automation in Manufacturing
Demand for automation in manufacturing is rising rapidly around the world, and this is expected to primarily augment the sales of vision guided robotics in the future. Industries like automotive, electronics, and consumer goods require robots with advanced vision systems for assembly, inspection, and material handling as they focus on improving productivity and reduction of errors.
Boom in e-Commerce in Industry
Booming e-commerce activity around the world has led to increased demand for more efficient logistics and warehousing solutions. ision-guided robots are vital in sorting, picking, and packing operations due to their ability to recognize and handle diverse objects. Companies are adopting these systems to meet rapid delivery expectations and reduce operational costs whilst keeping up with the rapidly expanding e-commerce industry.
Vision Guided Robotics Market Restraints
Dearth of Skilled Workforce
Vision guided robotics are highly advanced systems equipped with state-of-the-art technologies. Managing and maintaining vision guided robotics requires highly skilled technicians and professionals. The shortage of these skilled professions is projected to hinder the adoption of vision guided robotics and result in reduced revenue generation for companies in the long run.
Complexity in Integration
Integrating vision guided robotics into existing infrastructure and workflows is a highly complex task. This integration requires specialized knowledge and customized solutions, which can delay vision guided robotics deployment and increase cost of adoption for organizations in the future. Simplifying the integration process is expected to highly vital for companies to unlock the full growth scope of the global vision guided robotics industry.
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Vision guided robotics providers should focus on making robots that are easy to integrate and use for end users. Targeting the automotive manufacturing industry is slated to bolster revenue generation for all vision guided robotics companies. Investing in Europe, Asia Pacific, and North America regions is expected to be the prime focus of almost all vision guided robotics provides going forward.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing demand for automation and advancements in robotic and machine vision technologies are key factors driving vision guided robotics market growth. Meanwhile, high costs of implementation and complexity in integration are estimated to impede vision guided robotics sales over the coming years. The Asia-Pacific region is expected to emerge as the leading market for vision guided robotics companies owing to the presence of robust manufacturing activity in countries such as China and India. use of 3D vision technology and development of modular and custom robots are slated to present new opportunities for vision guided robotics providers in the long run.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 13.82 Billion |
Market size value in 2032 | USD 27.22 Billion |
Growth Rate | 7.82% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Vision Guided Robotics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Vision Guided Robotics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Vision Guided Robotics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Vision Guided Robotics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG45A2354
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