Robotic Vision Market Size, Share, Analysis, Opportunities, Competitive Landscape, Future Prospects and Forecast to 2027

Market Overview

The Robotic Vision Market will reach USD $9 billion and set to grow at CAGR of 12% during the forecast period (2017-2023). 

In the Robotics Vision Market, many companies are trying to target the same audience. It has led to a lot of competition in the industry. The new market players have been able to push their products and services on new technology. The robotic vision industry is one of the fastest developing industries in recent years.

Computer vision robotics is the next big thing in the robotic development field that uses computer vision algorithms. It also makes use of machine learning techniques for autonomous robots. The machine learning-based robot eyes use algorithms that help identify the objects in the environment and thus, use this data to react accordingly. But the computer vision-based system relies on sensors for image processing instead of algorithms that help in improving productivity and efficiency.

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The Robotic Vision Market in various industry verticals like manufacturing, warehouses, and food processing plants would expand by more than fivefold in the coming decade. Also, the automotive industry will see an increase in demand for self-driving vehicles. Their applications are likely to cover both personal transportation and commercial goods transport and help an audience. Along with that, the healthcare sector is rapidly adopting robotics technologies across multiple industries, including surgery, medical imaging, pharmaceutical manufacturing, and others like healthcare information systems. In the future, market sectors like healthcare, military, logistics, and manufacturing will increase significantly to capture market share from other applications such as drones and robots.

Some prominent market players are as follows:

• Alphabet
• Companies
• Microsoft
• Intel

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Market Segmentation

The robotic vision market has been segmented to meet the rising needs of the globally bifurcated audience based on the following:

By Component

• Camera
• Smart Camera
• Lighting
• Optics
• Frame Grabber
• Computer
• Software
• Others

By Detection Algorithm

• Contour based
• Correlation-based
• Feature Extraction
• Cloud of points
• Company own development tools
• Others

By Technology

• 2D
• 3D

By Industry

• Automotive
• Packaging
• Aerospace
• Food Processing
• Metal Processing
• Electrical & Electronics

By Use Case/Application

• Welding
• Material Handling
• Packaging & Palletizing
• Painting
• Assembling & Disassembling
• Cutting, Grinding & Deburring
• Measurement, Inspection & Testing
• Others

By Geography

• North America
• South America
• Europe
• Asia-Pacific
• RoW

Regional Analysis

North America will remain the largest market for this technology owing to its high spending on R&D across various industries such as manufacturing, healthcare, and transportation sectors. The European region has been one of the fastest-growing markets. It is due to the increased investments from European countries like Germany and Spain. The pandemic has impacted the global robotic vision market on humans and their activities.

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Industry News

North America is expected to lead with a value share of $7.2 billion, followed by Europe with $6.0 billion and APAC with a value share of $4.8 billion, respectively, in 2024.

The robotic Vision Market is expected to increase with the increasing adoption of robotic vision systems. The market is expected to reach $1.5 billion by 2025, with China dominating the market share. The Asian continents are playing a crucial role in the evolution of robotics. The robotic vision market is growing at 20% per year, with China being the leading country.

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