Global Robotic Vision Market (2022 to 2027) - Government Initiatives Boosting Industrial Automation and Increasing Customization of Robotic Vision Systems Present Opportunities - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Robotic Vision Market by Type (2D Vision Systems, 3D Vision Systems), Component (Cameras, Lighting, Optics, Processors & Controllers, Frame Grabbers, Deep Learning Software), Deployment (Robotic Guidance Systems, Robotic Cells) (2022-2027)" report has been added to ResearchAndMarkets.com's offering.

The robotic vision market size is expected to grow from USD 2.4 billion in 2022 to USD 3.8 billion by 2027; it is expected to grow at a CAGR of 9.6% from 2022 to 2027.

3D vision systems are expected to grow at a higher rate from 2022 to 2027

A 3D vision system is highly repeatable and can avoid errors arising from deviations in object location, orientation, and presentation to the vision camera. They have the capability of picking parts that have variable surface conditions, such as bin picking, object tracking, and product profiling, particularly in automotive and pharmaceutical industries where the vision systems can generate 3D image data. They are ideal for less organized applications that involve a random presentation of parts as they excel at handling the intricacies of 3D workpieces. Thus, the market for 3D vision systems is projected to grow at a higher CAGR compared to the market for 2D vision systems from 2022 to 2027.

Hardware segment to hold the largest share in 2021

Cameras are the principal component of vision systems. Smart camera-based vision systems are gaining traction over PC-based systems due to easy configuration, validation, and maintenance. In the near future, robotic vision is expected to have a higher installation of 3D vision systems requiring smart camera installation, owing to the automation in industries. Hence, the market for cameras is expected to register the highest CAGR of 10.3% during the forecast period.

Robotic cells to be the fastest-growing segment during the forecast period

The robotic cells are utilized rapidly for complex tasks, such as quality tracking, uniform dispersion of ingredients, consistency of color, and the presence of safety rings. Robotic cells as compared to robotic guidance systems provide better efficiency and accuracy when integrated in vision cameras. Thus, the robotic cells are estimated to grow at the highest CAGR than the robotic guidance systems during the forecast period.

Material handling segment to hold largest share in 2021

The material handling segment dominates the market in 2021 and is expected to continue its domination during the forecast period. Material handling using robotic vision can significantly reduce the human labor involved with handling applications. Besides, the use of robotic vision in material handling reduces labor costs, increases uptime for the production processes, and provides a safer environment for humans. All these factors are responsible for the adoption of the material handling application in various industries.

Food & beverage industry to hold largest growth rate during forecast period

The food & beverage industry is expected to hold the largest market size during the forecast period. The rising utilization of robotic vision systems in packaging and palletizing in food manufacturing plants is responsible for the growth of the market. On the other hand, the consumption of packaged foods is increased rapidly, and food safety and standard protocols are being adopted globally by the food giants due to which vision systems are projected to be installed largely in food production plants during the forecast period.

Europe is expected to capture the second-largest market size during forecast period

The European region is expected to hold the second-largest share of the robotic vision market during the forecast period. Industrial growth has been observed in the various countries of Eastern Europe, leading to increased penetration of vision systems in manufacturing. In Europe, vision systems are relevant not only for large enterprises but also for smaller enterprises. Germany remains the largest market in Europe for vision systems. Government initiatives, such as Industry 4.0 and the penetration of IoT and AI are expected to boost vision software development in the coming years.

Market Dynamics

Drivers

• Growth in Need for Quality Inspection with Automated Robotic Vision
• High Adoption of 3D Vision Systems in Industrial Robotics
• Demand for Safety as Well as Quality Products in Industrial Sector
• Increase in Use of Smart Cameras in Robotic Vision

Restraints

• High Initial Cost of Installation
• Varying Industrial and End-User Applications
• Limited Awareness of Robotic Vision Systems

Opportunities

• Government Initiatives Boosting Industrial Automation
• AI and Deep Learning Driving Advancement of Robotic Vision
• Increasing Customization of Robotic Vision Systems

Challenges

• Difficulties in Manufacturing of Overall Robotic Vision Systems
• Programming of Complex Inspection Tasks

Companies Mentioned

• ABB
• Adlink Technology Inc.
• Advantech
• Aquifi
• Basler Ag
• Cognex Corporation
• Fanuc Corporation
• Hexagon Ab
• Ids Imaging Development Systems GmbH
• Industrial Vision Systems
• Isra Vision
• Keyence Corporation
• Lmi Technologies Inc.
• Matrox Electronic Systems Ltd.
• Mvtec Software GmbH
• National Instruments Corporation
• Omron Corporation
• Qualcomm Incorporated
• Sick Ag
• Stemmer Imaging Ltd.
• Teledyne Dalsa
• Tordivel As
• Vitronic
• Wenglor Sensoric GmbH
• Yaskawa America, Inc.
• Zivid

For more information about this report visit https://www.researchandmarkets.com/r/dkgjyz

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