Research report explores the Vision Guided Robotics Market tremendous growth in near future during 2018-2022

Vision Guided Robotics includes robots with built-in cameras that are used as sensors to provide a feedback indication to the robot controller to move accurately to a variable target location. These vision guided robotic systems operate freely, increase production efficiency, and enhance quality, while reducing human errors and wastage of resources. Vision guided robotics technology is rapidly transforming production processes by enabling robots to be highly flexible, also reducing the cost and complexity of fixed tooling that was connected with design and set up of robots.

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The global vision guided robotics market has been analyzed and segmented based on types of components, industry verticals, and geography. The various components that make up a vision guided robotic system include hardware, software, and services. The different hardware components include camera, sensors, controllers, actuators, and others. Vision guided robotics system finds applications across a wide range of industries including automobile, electrical & electronics, healthcare & pharmaceutical, aerospace & defense, food & beverage, and others. The microscopic analysis of the vision guided robotics market is conducted by examining various regions such as North America, Europe, Asia-Pacific, and LAMEA.

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Vision guided robotics technology includes robots built-in with cameras and sensors to provide response signal to the robot controller to move accurately to the target position.

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.

The hardware segment dominated the market in 2014 with around 66% revenue share of the global market, owing to advancements in processing capabilities and development of smart cameras and new interfaces. Furthermore, the services segment is anticipated to witness the highest CAGR of 13.7%, as services are provided after the installation of software and hardware. In addition, services ensure flexible and efficient mechanization between vision system and robotics.

The automobile segment dominated the global vision guided robotics market size with around 32% share in 2014, followed by the electrical & electronics segment. Furthermore, the electrical & electronics segment is estimated to grow at the highest CAGR of 12.5% owing to upsurge in need for inspection and testing of electronics to ensure proper functioning of processes.

The vision guided robotics market is categorized based on geography into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific region was the highest revenue contributor to the global market in 2014, accounting for around 36% share. It is projected to grow at the highest CAGR of 11.9% during the forecast period on account of growing advancements in the automobile and electrical industry in countries such as India, China, Japan, and Australia.

The report features the competitive scenario of the vision guided robotics market, and provides the comprehensive analyses of the key growth strategies adopted by major players. The key players operating in the vision guided robotics market, include Pleora Technologies, Inc., DENSO Robotics, Allied Vision Technologies, GmbH, OMRON Corporation, Cognex Corporation, ISRA VISION AG, Basler AG, BitFlow, Inc., FANUC America Corporation, and Yaskawa America, Inc.

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