Vision Guided Robotics Market to Grow at a CAGR of 13.8% to Hit US$ 12,958.9 million by 2027 - Impact of COVID-19 Pandemic and Global Analysis by The Insight Partners

According to our latest market study on "Vision Guided Robotics Market Forecast to 2027 - COVID-19 Impact and Global Analysis - by Component Type (Software, Hardware, and Services), Type (2D-Vision System Robot and 3D-Vision System Robot), and Industry Vertical (Automotive, Aerospace & Defense, Food & Beverages, Healthcare & Pharmaceutical, Electrical & Electronic, and Metal Processing)," the market was valued at US$ 4,616.6 million in 2019 and is projected to reach US$ 12,958.9 million by 2027; it is expected to grow at a CAGR of 13.8% during the forecast period.

The vision guided robotics market report has been derived from market trends and revenue generation factors from five different regions across the globe: North America, Europe, Asia Pacific, Middle East & Africa, and South America. APAC is expected to be the fastest growing region in the global vision guided robotics market during the forecast period. Whereas, APAC was followed by Europe and North America hold the highest market share in the vision guided robotics market. The vision guided robotics market is expected to experience significant growth in the coming years due to increasing demand for automation.

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Competitive Landscape: Vision Guided Robotics Market: ABB Ltd.,Basler AG,Cognex,Denso Corporation,Fanuc Corporation,ISRA Vision,Omron Corporation,Pleora Technologies Inc.,Universal Robots AS,Yaskawa Electric Corporation

Vision-guided robotics are used across various verticals to concentrate on extracting, characterizing, and interpreting information of a particular product and perform desired autonomous task, whether mechanical or electrical. The vision-guided robotics companies across the globe are constantly focusing on developing advanced technologies that would enhance the automation scenario to a greater extent and help the manufacturing industries to intensify their process. Advancement of camera technologies and processing power are enabling robots to take on more amorphous tasks such as driving, flying, and mobile activities, among others, which requires obstacle identification and avoidance capabilities through vision systems.

The major areas for robot manufacturers to develop a robust vision-guided robot include fast increasing computing power, advancement in imaging hardware, improvement in high-level software libraries, and reducing the cost of computer memory. Also, the advancement of machine vision will bolster the automation technology in the industrial sector in the coming years.

The report profiles the key players in the industry, along with a detailed analysis of their individual positions against the global landscape. The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Vision Guided Robotics market. The researcher provides an extensive analysis of the Vision Guided Robotics market size, share, trends, overall earnings, gross revenue, and profit margin to accurately draw a forecast and provide expert insights to investors to keep them updated with the trends in the market.

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The market for vision-guided robotics is highly fragmented, and the industry is constantly experiencing the emergence of a new player with innovative technologies. With an objective to sustain in the industry and compete with its peers, the companies are adopting several organic and inorganic strategies which include competitive pricing, miniaturized camera sensors, mergers and acquisition, and additional aftersales service. These strategies offer the companies a significant competitive edge over the others. The vision-guided robotics market is poised to flourish in the coming years owing to the fact that, several developing country governments are attracting foreign direct investments (FDI) to optimize hectic and monotonous operations performed across industries with ease and precision. Additionally, the demand for 3D vision technology is growing at a rapid rate among the end users, which is compelling the manufacturers to innovate and develop robust software and hardware for robotic systems.

The 3D vision systems, when coupled with software such as machine vision software such as RoboRealm and Visionscape, enhances the performance of a vision-guided robot during the execution of any tasks. The vision-guided robots integrated with machine vision software are suitable for applications such as pick and place, bin picking, welding, assembling, racking, dispensing, and product sorting, among others. Attributing to the benefits of the 3D vision technology paired with machine vision software, the end users are increasingly adopting the latest technology, which is boosting the market for vision-guided robotics software market globally.

In Market Segmentation by Geographical Regions, the report has analyzed the following regions-
• North America (USA, Canada and Mexico)
• Europe(Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Columbia etc.)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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