Vision Guided Robotics Market Size, Share, Growth Analysis, By Component(Hardware, Software, and Services), By Type(2D Vision, 3D Vision), By Application(Automobile, Electrical & Electronics, Healthcare & Pharmaceutical, Aerospace & Defense), By Region - Industry Forecast 2024-2031

Global Vision Guided Robotics Market size was valued at USD 12.82 billion in 2022 and is poised to grow from USD 13.82 billion in 2023 to USD 25.25 billion by 2031, growing at a CAGR of 7.82% during the forecast period (2024-2031).

Vision robotics has been widely adopted in the automotive, food and beverage, metal fabrication, and electronics industries. The vision-guided robotics market is influenced by the increasing demand for automation of processes, reducing repetitive tasks and manual interventions, enhancing quality of life. The use of robotic technology enables organizations to improve productivity and efficiency and reduce operating costs. Moreover, high labor costs, development of intelligent technologies and energy efficient solutions but with high initial investment and lack of robotics expertise drive the global vision guided robotics market.

Currently, due to the rapidly advancing technology across the globe, there has been an increase in the adoption of VGR systems in industrial and manufacturing transportation. This represents one of the major factors driving the growth of the market. In addition to this, the demand for automation and security is increasing at many industry levels. This, along with the many advantages that VGR systems have over conventional robots in terms of usability and customization, are positively impacting their overall sales Moreover, major market players are exploring the use of advanced robots with high definition (HD) cameras and precision features have arrived. Continued funding for development activities (R&D), visionary systems of obstacle detection and avoidance skills help these advanced robots perform delicate tasks such as driving, flying and telephony various types. Also, elites are rapidly expanding computing power, improving high-quality software libraries, and making advances in cameras.