Vision-Guided Robotics Market is anticipated to grow at a CAGR of 13.5% from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Vision-Guided Robotics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global vision-guided robotics market is estimated to account for over US$ 4.6 Billion in 2019. It is anticipated to grow at a CAGR of 13.5% from 2019 to 2030.
The increasing adoption of robots in medical & healthcare, agriculture & food systems, national security & defense, and several verticals is accelerating market growth. Moreover, various governments across the globe are coming up with policies that will support industrial automation. For instance, the National Robotics Initiative is accelerating the development and use of robots in the U.S. Several other U.S.-based agencies including the National Science Foundation (NSF), the National Aeronautics and Space Administration (NASA), the National Institutes of Health (NIH), the U.S. Department of Agriculture (USDA), and the U.S. Department of Defense (DOD) are also supporting the adoption of vision-guided robots. However, the high investments associated with automation will restrain market growth to a certain extent.
Rapid advancements in machine vision & 3D vision versatility and the increasing penetration of vision-guided robotics in diverse industries are propelling market growth. The vision-guided robot technology is evolving continuously through emerging technologies such as 3D Vision, Visual Simultaneous Localization (VSL) and Mapping (VSLAM). 3D Vision improves depth perception, further facilitating autonomous navigation rather than bin-picking in traditional robots that picked parts randomly. Moreover, smaller and more precise sensors are being developed at the lower costs, facilitating its rapid adoption in several industry verticals.
Several government organizations investing heavily in R&D for both existing as well as potential robotics technologies to support national interests. For instance, in 2019, the International Federation of Robotics stated that companies will be concentrating on collaboration of humans and machines to simplify applications and promote light-weight robots, including two-armed robots and mobile solutions, along with their integration into existing environments. Similarly, in 2019, the government of UK has announced funding for research around care robots to meet the needs of the aging society.
Browse key industry insights spread across 180 pages with market data tables & figures & charts from the report, Vision-Guided Robotics Market, By Type (2D-vision system and 3D-vision system), By Component (Hardware, Software, and Services), By Application (Automobile, Aerospace & Defense, Healthcare & Pharmaceutical, and Electrical & Electronics) - Analysis & Forecast 2019-2030 in detail along with the table of contents:https://www.marketindustryreports.com/vision-guided-robotics-market/226
However, the high initial investments associated with the setup and integration pose a major challenge for the adoption of vision-guided robots. Moreover, the lack of awareness among Small & Medium Enterprises (SMEs) restricts the use of such robots to limited heavy manufacturing groups.
Asia Pacific is estimated to account for the highest CAGR in the vision-guided robotics market over the forecast period. China has a diverse range of industries, including electronics and automotive wherein the rapid adoption of such robots will be witnessed. This will contributes to a large part of the regional vision-guided robots market share. Moreover, several industries in this region are advancing toward automation systems to reduce production costs, which will propel market growth.
Some of the prominent players in the vision-guided robotics market include Cognex Corporation, Omron Corporation, ABB, ISRA VISION AG, Basler AG, FANUC America Corporation, Yaskawa America, Inc, Kawasaki Heavy Industries, Ltd., Universal Robots, and DENSO WAVE INCORPORATED, among others.
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