Machine Vision and Vision Guided Robotics Market Overview

1. Global Machine Vision and Vision Guided Robotics Market

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3. Global Machine Vision and Vision Guided Robotics Market The machine vision and vision-guided robotics market are anticipated to grow at a considerable rate and is expected to reach USD 12.08 Billion by 2027, growing at a CAGR of 9.61% during the forecast period 2021-2027. The vision-guided robotics market is propelled by the increasing need for automation & safety, high labor cost, shortage of skilled labor, and an increase in investment in R&D activities. Robots and machine vision are friends of the manufacturing industry and have independently reached stability and technological maturity. The key factor that is driving the growth of the vision-guided robots market is the increasing use of industrial robots for automation in the automotive and consumer electronics sectors. So, there is a need for the integration of machine vision systems with vision-guided robot controllers. The safety standards of the workers are becoming more severe, as a result, robots are employed in unsafe working conditions.

4. Global Machine Vision and Vision Guided Robotics Market The challenges faced by the machine vision and vision-guided robotics market are the high cost required in the initial phase of integration and installation. Other factors limiting the growth of the market are the cameras going out of order, lack of skilled professionals available, less return on investment. There is a lack of awareness about educating the need for machine vision systems. There is a need for machine vision in the manufacturing sector as there is a gradual transition from product standardization to product customization. However, it is tough to make a standard machine vision system because there are many manufacturing industries and specifications are based on customer requirements. APAC is anticipated to grow at a significant rate in the vision-guided robotics market during the forecast period 2021-2027. The manufacturing industries in the emerging economies of Asia Pacific are adopting innovative technologies in the vision-guided robotics market which has led to the growth of machine vision and vision-guided robotics market.

5. Global Machine Vision and Vision Guided Robotics Market Key market players are investing in R&D activities, product advancement to improve the machine vision market. There are a lot of strategic initiatives such as distribution alliances, partnerships, mergers and acquisitions, joint ventures which will drive the growth of the machine vision and vision-guided robotics market. In May 2020, Cognex has made the Insight D900 embedded vision system. The one-of-its-kind solution features Cognex’sViDi deep learning software inside an In-Sight industrial-grade smart camera. This has solved complex in-line inspection applications including optical character recognition (OCR), assembly verification, and defect detection. Some of the key players operating in the machine vision and vision robotics market: Cognex Corporation, Basler AG, Absolute Vision, ISRA Vision AG, Teledyne Digital Imaging Inc., STEMMER IMAGING AG, Eastman Kodak Company, OMRON Corporation, Allied Vision Technologies GmbH, and Keyence Corporation.

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