March 17, 2020

Technological Upgradation Encourages the Robotic Vision Market Size 2023

Robotic Vision Market Size

Robotic vision allows robots to recognize the external world to perform a broad range of tasks which embraces object classification, navigation, surveillance, object tracking, higher-level decision making, quality control among others. Robotic vision is a substantial building block for the growth of cognitive robots. Robotic vision has a wide set of applications in the growth of both industrial robots and humanoid robots. Bin picking application for industrial robots is extensively affected by the level of growth in robotic vision. Of late, the study in robotic vision has been directed towards making robots self-sufficient in natural ambience by the means of image processing. The long-term objective has been to create cognitive humanoid robots that can have remarkable cognitive capabilities to operate as home assistants. In case of industrial robots, robotic vision can offer a substantial competitive edge in the methods of industrial assembly and quality control. In the present economy, there has been a change in focus towards the creation of customized goods from mass manufacturing of goods. This shifting trend can work as an influencing force for the development of robotic vision market as industrial robots embedded with robotic vision. It extends apt solutions for customized production. Upgradation in technologies like deep learning and machine learning for image processing can be observed as an avenue for the expansion of the worldwide robotics vision market. Developing need for automation of processes from several verticals further accelerate the expansion of worldwide robotic vision market. However, low adoption and compatibility issues of robotic vision in small-scale enterprises are anticipated to restrict the development of global robotic vision market.

Market Segmentation

The worldwide robotic vision market has been divided based on technology, components, verticals, region, and applications. On the basis of components, the worldwide robotic vision market is bifurcated into software and hardware. The hardware segment is sub segmented into filters, optics, cameras, sensors, and lenses. The software segment is sub segmented into image processing and tracking. According to technology, the worldwide robotic vision market is classified into 3D and 2D. Based on application the worldwide robotic vision market is categorized into welding, material handling, bin picking, load/unload, washing, processing, inspection, painting, assisted living, testing, and others. According to vertical, the worldwide robotic vision market is categorized into aerospace, automotive, food & beverages, EMS (electronic manufacturing services), precision engineering & optics, rubber & plastics, consumer, pharmaceuticals & cosmetics, healthcare, military, and others.

Regional Analysis

The regional analysis for worldwide robotic vision market has been studied for Asia-Pacific, Europe, North America, and rest of the world. Asia-Pacific is estimated to lead the global robotic vision market throughout the estimation period. Surging industrialization in economies such as China and India is fueling the expansion of the robotic vision in the APAC market. Spurring adoption of automation in control, material handling applications, and quality in different sectors is also boosting the development of the robotic vision market in APAC. North America is likely to contribute majorly to the worldwide robotic vision market throughout the tenure of forecast. Outlays by firms in the creation of deep learning and machine learning technologies for image processing is fueling the demand for robotic vision framework in the North America market. The increasing espousal of automation in the food and beverage sector is likely to propel the growth of application of robotic vision in North America market.

Key Players

According to the reports published by Market Research Future, the worldwide robotic vision market is majorly dominated by key players such as Yaskawa Electric Corporation (Japan), FANUC Corporation (Japan), KUKA AG (Germany), OMRON Corporation (Japan), ABB Group (Switzerland), Cognex Corporation (U.S), Keyence Corporation (Japan), Kawasaki Heavy Industries Ltd. (Japan), Basler AG (Germany), and SICK AG (Germany).

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