Robotic Vision Market is predicted to thrive at a CAGR of 10.54% over the period 2018-2024

Robotic vision is an advanced technology in robotics and automation which is used for identification of things, navigation, finding objects among others. The surging automotive industry coupled with robotic vision is increasing the market.

This report provides forecast and analysis of the Robotic Vision Market which is estimated to surge US$5.303 billion by 2024, from US$2.907 billion in 2018.

Robotic vision is among the most advanced technology in robotics and automation, it is used in robots for better identification of things, navigation, finding objects, and inspection among others. Robotic vision helps in cutting costs and creating a straight forward solution for all types of automation. Robotic vision makes the manufacturing and packaging more efficient by ensuring the quality of the products, checking product safety, preventing defective products or damaged products from entering the market, and tracing the products. Robotics vision market to see a rise in demand due to the increase in focus for providing safety to workers, declining prices of chips and sensors, growing demand for automation and surveillance, and advancement in technology.

The Robotic Vision Market is segmented by component, by technology, by application, and by geography. Segmented on the basis of the component in Software and Hardware. Hardware is further segmented into a camera, robots, and others. Segmentation by application is divided into packaging and palletizing, material handling, welding, and others. Segmentation by industry verticals is electrical and electronic, automotive, metal processing, food processing, and others. By geography, the robotic vision market has been segmented as Americas, Europe, the Middle East and Africa, and the Asia Pacific.

The Americas and Europe market are projected to hold the dominating share in the market and are projected to grow at substantially high rates due to the rise in the demand for these systems particularly for material handling applications due to high labor costs and stringent government regulations to provide a safer working environment. The Asia Pacific is anticipated to witness the fastest market growth due to rapid industrialization, high infrastructure development and growing concern about worker's safety. Rising demand for processed and frozen food products in emerging economies such as China and India will further fuel this regional growth to ensure vision supported packaging of food in harsh environments along with label verification and brand quality.

Some of the major players covered as part of the report are ABB, Kawasaki Heavy Industries Ltd., KEYENCE CORPORATION, ISRA VISION AG, SICK AG, FANUC America Corporation, KUKA Robotics, Acieta LLC, Omron Corporation, Teledyne Digital Imaging Inc., Cognex Corporation, Qualcomm Technologies Inc, Tordivel AS, Matrox, Hexagon AB among others.

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This report segmented the robotic vision market on the basis following terms:

  • By Component 

    • Software

    • Hardware

      • Camera

      • Robots

      • Others

  • By Application

    • Packaging & Palletizing

    • Material Handling

    • Welding

    • Others

  • By Industry Vertical

    • Electrical and Electronics

    • Automotive

    • Metal Processing

    • Food Processing

    • Others

  • By Geography

    • North America

      • USA

      • Canada

      • Mexico

    • South America

      • Brazil

      • Others

    • Europe

      • Germany

      • France

      • United Kingdom

      • Spain

      • Others

    • Middle East and Africa

      • Israel

      • Others

    • Asia Pacific

      • China

      • Japan

      • South Korea

      • India

      • Others