Robotic Vision Market Size, Share, Industry Analysis, Business Opportunities, Key Players and Forecast 2027

Robotic Vision Market Overview:

In addition, the global Robotic Vision Market has been expected to rise at a CAGR of 12%, with a value of USD 9 billion over the estimated forecasting year of 2017-2023.

The market’s growth is due to the increasing use of reasonable humanoid robots and the increasing deployment of machine vision systems in the end-user segments such as automotive industries. It is an automation technology embedded with cameras, special-purpose lighting, software, and robots. It is also integrated with machine vision and image processing technologies to provide a second feedback signal to the robot controller and navigate to a variable target position. It offers a higher level of accuracy and precision in operations and enables flexible manufacturing and production lines to accommodate product changes compared to conventional robots readily. Besides this, as it assists in eliminating time-consuming work and improving the overall productivity, the demand for VGR is escalating around the world.

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But the outcome of the coronavirus pandemic has led to strict lockdown restrictions, causing disruptions in manufacturing and sales activity. The global outbreak of the coronavirus has considerably impacted manufacturing industries, including the machine vision market growth. The global concerns and the regulation activities of several governments force the business and the leading industrial sectors to think positively about increasing the sales and the supply chain.

Market Segmentation:

According to the latest robotic vision market report, the global market has been segmented into technology, end-user industry and regional sectors. The entire market is divided into two categories, 2D and 3D vision with the technology section. In terms of the end-user industry, the market is classified into six sections automotive, electronics, aerospace, food and beverage, pharmaceutical and other end-user industries. According to the regional analysis, the global robotic vision market is classified into five parts: Asia-pacific, Europe, North America, South America, and the Middle East & Africa.

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Regional Analysis:

The United States will showcase tremendous growth because North America has a competitive edge over the other regions. This is owed to the presence of several international leading players in such regions. One of the primary reasons is that the US is among the leaders in research and development activities, especially in technology development and the development of efficient engineering processes. All such issues act as a driver for this robotic vision market in the United States.

The Asia-Pacific is expected to keep the highest growth in the upcoming years. Regions like China, South Korea, Japan, India, and other countries play a key role in the market opportunity during the estimated forecasting years. The market in such regions is still in its growing stage, and it is expected to rise at a noteworthy rate, driven by the increasing number of several entrants. Some Asian vendors like Panasonic or Keyence have a strong market presence. However, Europe will also witness substantial growth in the upcoming years. The MV systems rely on the remarkable movement of the progress in technology and automation. Also, the need for quality inspection and automation inside the manufacturing technology is expected to be the main aspect of the growth of this market in the region. The Middle East & Africa market is growing at a slower pace due to the slow pace of economic development. The region is progressively moving from the oil and gas sector to the other services and manufacturing sectors.

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Industrial News:

The global robotic vision market is moderately fragmented, characterized by the advent of recent technologies. It has the presence of several global and regional vendors who manufacture their vision-guided robots or procure vision system from suppliers and integrate it into their industrial robots.

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