Global Vision Guided Robots Market accounted for USD 5.97 Billion in 2019 and is expected to Reach USD 12.03 Billion by 2026, growing at a CAGR of around 9.52%
The vision guided robots market is set for a rapid growth over the forecast period. In terms of revenue, the global vision guided robots market accounted for USD 5.97 Billion in 2019 and is expected to Reach USD 12.03 Billion by 2026, growing at a CAGR of around 9.52%. The vision guided robotics market is driven by increasing need for automation & safety, high labor cost, dearth of skilled labor, and rise in investments in R&D activities. However, high initial cost and lack of awareness among small- and medium-enterprises (SMEs) are expected to marginally hamper the global vision guided robotics market size during the forecast period.
Vision Guided Robots Market: Overview
The vision guided robots are the robots that work on the technology where the functionality of the sensor is performed by the camera by providing the feedback to the robot supervisor in order to accurately move an object to destined location. The basic functionality of these robots is to capture the images and then transmit them to the processor for further processing and then the data is generated.
Vision Guided Robots Market: Facts
In a manufacturing organization, the vision guided robots are used for the following applications for the machine tending, loading and unloading of machines and the pallets onto the machines, to pick and properly place the products, and for the identification of the objects.
Vision Guided Robots Market: Segmentation
The global market for the vision guided robots is fragmented into its application and technology. Based on the application, the global market is segregated into Electrical and electronics, Food and beverage, Metal processing, Automobile, Aerospace and defense, and Healthcare and pharmaceutical. Based on the technology, the market is categorized into two-dimension and three-dimensional.
Vision Guided Robots Market: Growth Factors
The key factor that is driving the growth of the vision guided robots market is the increasing rate of the automation in the industrial sectors. In order to maintain the production lines and deliver products of high quality, the industries are making use of the vision guided robots. There are certain applications that require customization of the products to increase the flexibility which will be met by the latest technological developments. The safety standards for the workers are becoming more rigorous thus the robots are being employed in the unsafe working conditions. The factors that are limiting the growth of the market is the high cost that is required at the initial phase of the integration and the installation. Other factors that are limiting the growth of the market are the cameras going out of order and the lack of the skilled professionals to operate the robots. The cameras that are now available in the market have different resolutions which act as a challenge for the vision guided robots.
Vision Guided Robots Market: Regional Analysis
The region that holds the top position in the vision guided robots market is Asia Pacific region due to its increasing demand and the significantly growing industrial sectors. In the developing countries such as China and India, there is an increased rate of industrialization which increases the adoption of the robotic technology. Due to the increased presence of the MNCs and SEMS, the North America region will witness an exceptional market growth in the coming years. In the Middle East and Africa, the development of the oil and the gas industry has increased the requirement for safety and precision thus increasing the demand for the vision guided robots.
Vision Guided Robots Market: Competitive Players
The key market players that are involved in the vision guided robots market include Denso Corporation, Fanuc America Corporation, Basler AG, Allied Vision Technologies, JMP Engineering, Adept, Nachi Fuykashi, Kamasaka, Kuka, Omron Corporation, Isra Vision AG, The Yaskawa Electric Corporation, Cognex Corporation, ABB Group, R and D Equipment, Comau, Epson, and Faune.
Vision Guided Robots Market: Regional Segment Analysis
What Reports Provides
Request the coronavirus impact analysis across industries and markets