Vision Guided Robotics Market Analysis APAC, North America, Europe, Middle East and Africa, South America - US, China, Japan, South Korea, Germany - Size and Forecast 2023-2027

Vision Guided Robotics Market Forecast 2023-2027

The Vision Guided Robotics Market size is forecast to increase by USD 4.12 billion, at a CAGR of 10.04% between 2022 and 2027. Market growth hinges on several factors: declining electronic component prices, heightened flexibility in discrete industries, and enhanced precision leading to reduced errors. These dynamics drive efficiency improvements, cost savings, and product quality enhancements across various sectors. With electronic component costs decreasing, businesses can invest in innovation and expansion. Increased flexibility empowers industries to adapt swiftly to changing market demands. Moreover, improved precision minimizes errors, boosting overall operational efficiency and customer satisfaction, thus fostering market expansion.

What will be the Size of the Market During the Forecast Period?

Vision Guided Robotics Market Forecast 2023-2027

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Market Segmentation

This report extensively covers market segmentation by application (logistics, welding, inspection and cleaning, and painting), type (2D-vision and 3D-vision), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. 

By Application

The logistics segment is estimated to witness significant growth during the forecast period. This segment is one of the most used applications in several sectors like food and beverage and warehouse. Traditionally, most of the robots were integrated with the assembly line and conveyor belts which were used for operations. However, certain manual interventions have hampered the performance of these robots. Additionally, the production rate was significantly slow, due to the performance of the traditionally used robots. To resolve this issue, several vision systems were integrated with robots, enabling them to visualize objects.

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The logistics segment was the largest segment and was valued at USD 1.37 billion in 2017. As a result, 2D vision systems were widely implemented for robots working near the assembly line. Thus, such incorporation of vision systems enabled robots to understand the shape and size of objects and enhanced the operational efficiency of packaging. Furthermore.  the launch of 3D-vision systems has revolutionized the vision systems landscape. The main advantage of the 3D vision system is that it helps to evaluate the actual distance and height of the objects. Additionally, the incorporation of several cameras and sensors has enhanced the efficiency of industrial robots at work. Hence. such factors are expected to drive market growth during the forecast period.

By Type

Based on type, the segment is classified into 2D vision and 3D vision. There has been significant development in robots with vision technology over the past decade. The main application of these robots is in industrial applications, especially in assembly applications. One of the main types of vision systems which are used in robots operating in industrial applications is 2D vision systems as it enables these robots to identify the movement of objects on a conveyor belt. The main advantage of the 2D vision system is that it helps in refining several operations industries in terms of quality and production. Furthermore, there is an increase in demand for technology that allowed these robots to work with more geometrically inclined objects due to the integration of 2D vision systems in industrial robots. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.

By Region

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APAC is estimated to contribute 47% to the growth by 2027. Technavio’s analysts have elaborately explained the regional market trends, drivers, and challenges that are expected to shape the market during the forecast period.  Some of the key countries which significantly contributed to the growth of the vision-guided robotics market growth include China, Japan, ASEAN countries, and South Korea. There is increasing adoption of robotic systems due to several developments of technologies and software platforms in the region. Factors such as a decline in the workforce, repetitive jobs, minimizing overall production cost, and maintenance of manufacturing units have significantly fuelled the growth of industrial robots in the region which has positively impacted the market growth. Some of the major contributors to the growth of vision-guided robots include huge consumer markets such as India and China and Southeast Asia. Hence, such factors are expected to drive market growth in the region during the forecast period.

Market Dynamic

In the market, key drivers include rising demand for automation in various industries like automobile, electrical & electronics, healthcare & pharmaceutical, and aerospace & defense. Technological advancements fuel adoption, enhancing efficiency and precision in tasks such as target location and handling hazardous substances. However, challenges persist, including labor safety concerns, rising costs, and energy costs. Trends indicate increased utilization of vision-guided robots in hazardous environments and rough terrains, with a focus on improving feedback indication and reducing error rates through enhanced software and sensor capabilities. Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. A holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.    

Driver - Decline in electronic component prices

The abundant availability of electronic robotic components is significantly fueling new product development in the market of vision guided robotics. Additionally, several new research as well as technological advancements in the industry have decreased the prices of electronic components such as sensors and cameras. Thus, the integration of these new electronic components in industrial robots has enabled users to view objects more precisely and correctly. This integration enhances feedback indication and improves functionalities related to target location and design setup. The application of these advancements spans across various industry verticals, including the automobile industry, electrical & electronics, and healthcare & pharmaceutical sectors.

As a result, the adoption of these technologies addresses concerns related to labor safety, particularly in hazardous environments and rough terrains, while also mitigating the rising costs associated with energy and resources. Additionally, several PC software makes use of these vision operators for these robots. Furthermore, the launch of improved cameras and sensors resulted in the integration of a single component functioning as a vision system. Thus, it has led to a decline in the operational costs of vision-guided industrial robots. Furthermore, the reduction in cost of raw materials is expected to fuel the demand for vision-guided robots which in turn will drive the market growth during the forecast period.

Trends - Flexible assembly lines

The robotic industry has witnessed significant development due to the decline in the cost of electronic components. One of the major workstations for these industrial robots is assembly lines. There is increasing adoption of vision-guided robots in various applications that require high precision and improved quality in operations such as welding, picking and packaging, painting, and inspection.

Additionally, vision-guided robotics are widely used to visualize objects clearly. For instance, the 2D-vision system helps the robots to identify object movement, shape, and size. Furthermore,  the emergence of advanced technologies has led to the development of a 3D-vision system that enables robots to estimate the depth and height of objects. Thus, such systems have wide application in robotic systems which are widely used in assembly lines and product designs, including size. Hence, such factors are expected to drive market growth during the forecast period.

Challenge - Battery life

The main purpose of vision-guided robots is to reduce the operational cost of industries, eliminate human interference in critical jobs, and enhance work efficiency and quality with better precision. Most of these vision-guided robots are equipped with a battery that enables them to operate on jobs more independently without any supervision. There is increasing adoption of vision-guided robotics that are autonomous and remotely operated in warehousing and logistics, which enables them to move on the floor and perform different operations. 

Even though there are several types of batteries that are compatible with these robots, these batteries are not designed to sustain for a longer period which can result in downtime in industrial operations. Hence, it is essential for these robots to have a power backup to ensure continuity of operations on the work floor. Further, the robot might need at least 8 hours of charging, which enables them to work for a minimum of 12 hours. Hence, such factors can significantly hinder market growth during the forecast period.

Who are the Major Vision Guided Robotics Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

• ABB Ltd: The company offers vision-guided robotics systems such as RobotStudio.

We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:

 Acieta LLC, Atlas Copco AB, Basler AG, Cognex Corp., Cross Co., DENSO Corp., GECKO ROBOTICS INC., General Electric Co., Invert Robotics Group Ltd., IPG Photonics Corp., Keyence Corp., OMRON Corp., Pleora Technologies Inc., Previan Technologies Inc., Qualitas Technologies Pvt. Ltd., Robotic Automation Systems, Teradyne Inc., Yaskawa Electric Corp., and FANUC Corp. 

Technavio market research and growth provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.  

Segment Overview

The market growth and forecasting report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Application Outlook 
  • Logistics
  • Welding
  • Inspection and cleaning
  • Painting
• Type Outlook
  • 2D-Vision
  • 3D-Vision
• Geography Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Argentina'
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Market Analyst Overveiw

The market is witnessing substantial growth driven by factors such as the need for automation, rising labor costs, and the demand for production efficiency. Vision-guided robotic systems play a pivotal role in various industry verticals, including the automobile industry, food & beverage sector, and healthcare industry, offering flexible solutions for complex production processes. These systems mitigate human errors and minimize wastage of resources through precise control and accurate feedback indication. The adoption of vision-guided robotics technology enables the handling of hazardous substances and facilitates customization to meet the diverse needs of SMEs. However, challenges like rising energy costs and the complexity of production processes persist, emphasizing the importance of advancements in robotics technology. With increasing investments in hardware and controllers, the market is poised for significant expansion, driven by the imperative to adhere to international labor safety standards while enhancing operational efficiency in diverse industries.

Additionally, the market is experiencing significant growth fueled by the demand for flexible robots and customized solutions in diverse industries such as food, electronics, and healthcare. With SMEs seeking to enhance operational efficiency, robot controllers and actuators play crucial roles in streamlining production processes. The adoption of vision-guided robotics reduces setup time and eliminates the need for fixed tooling, resulting in lower operational expenditure. Services catering to SMEs' specific needs are on the rise, facilitating the seamless integration of vision-guided systems. Investment pockets in the food and electronics industries are particularly noteworthy, driving innovation and expansion in the market. As SMEs increasingly embrace automation, the vision-guided robotics sector continues to witness substantial growth and technological advancements.

Market Scope
Report Coverage	Details
Page number	170
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 10.04%
Market growth 2023-2027	USD 4.16 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	9.86
Regional analysis	APAC, North America, Europe, Middle East and Africa, and South America
Performing market contribution	APAC at 47%
Key countries	US, China, Japan, South Korea, and Germany
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	ABB Ltd., Acieta LLC, Atlas Copco AB, Basler AG, Cognex Corp., Cross Co., DENSO Corp., GECKO ROBOTICS INC., General Electric Co., Invert Robotics Group Ltd., IPG Photonics Corp., Keyence Corp., OMRON Corp., Pleora Technologies Inc., Previan Technologies Inc., Qualitas Technologies Pvt. Ltd., Robotic Automation Systems, Teradyne Inc., Yaskawa Electric Corp., and FANUC Corp.
Market dynamics	Parent market growth analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2023 and 2027
• Precise estimation of the vision guided robotics market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across APAC, North America, Europe, Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of vision-guided robotics market companies

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