Machine Vision and Vision-Guided Robotics Market Research 2022 - Growth, Trends, Outlook and Future Scope Analysis 2030 | Cognex Corporation, Basler AG, Absolute Vision

The global machine vision and vision-guided robotics market size were US$ 4.5 billion in 2020. The global machine vision market is forecast to reach US$ 12.09 billion by 2030 by registering a compound annual growth rate (CAGR) of 9.8% during the forecast period from 2021-2030.

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Machine vision allows to capture and transfer of images to the systems, such as PC. Robotic vision, on the other hand, enables a vision system in the robots for inspection. It replaces the manual work through alternatives, such as cameras and image processing.

Factors Influencing

Due to expanding industrialization in emerging economies, the machine vision and vision-guided robotics market are forecast to grow in the coming years. Moreover, these automated systems reduce the complexity and chances for human errors. As a result, the global market would grow.
Advancements in technology, such as the emergence of the smart camera, are propelling the growth of the global machine vision and vision-guided robotics market.
The growing number of competitors and their strategies would create significant opportunities for market growth. Companies have been focusing on developing better solutions to outgrow competitors, such as decreasing camera sensors, mergers and acquisitions, and additional aftersales services. These activities would ultimately grow the demand in the coming years.
A high cost is required during the initial phase of the installation of the robots. As a result, it may slow down the market growth.
COVID-19 Impact Analysis

The COVID-19 pandemic may have accelerated the growth due to the high efficiency of robots. The technology reduces the need for human contact. Moreover, food delivery robots, directional guiding robots, and sterilization robots were in high demand during the pandemic period. The major contributor to the market during the pandemic period was China. Many hospitals in the country adopted this technology to limit the spread of the virus. However, disruptions in the supply chain and unavailability of raw materials created a notable slowdown in the market growth during the initial phase.

Geographic Analysis

North America is playing a crucial role in the growth of the global machine vision and vision-guided robotics market. Due to the rising adoption of advanced robotics, the region holds dominance in the market. Apart from that, the federal authorities have been frequently investing in the production of machine vision systems. As a result, it would boost the regional contribution.

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The Asia Pacific market would hold a significant share during the forecast period. The manufacturing industries are using innovative technologies to amplify the work. Thus, it would boost the growth of the market for machine vision and vision-guided robotics. In addition, a rise in disposable income, price deflation, rapid urbanization, modernization may increase the demand for vision-guided robotics.

The growing percentage of the geriatric population, mainly in Japan and Italy, would create significant opportunities for the growth of the global machine vision and vision-guided robotics market. Apart from that, increasing government initiatives in developing nations, such as South Korea, Taiwan, India, and Singapore, may help industry players to build their production units. As a result, it would drive market growth.

Competitors in the 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
Keyence Corporation
Other prominent players
Market Segmentation

By Component Type

Hardware
Software
Services
By Type

2D-Vision System Robots
3D-Vision System Robots
By Industry Vertical

Automotive
Soldering and Welding
Material Handling
Assembling and Disassembling
Painting and Dispensing
Others
Electrical & Electronics
Soldering and Welding
Material Handling
Assembling and Disassembling
Painting and Dispensing
Others
Aerospace & Defense
Soldering and Welding
Material Handling
Assembling and Disassembling
Painting and Dispensing
Others
Food & Beverages
Material Handling
Cutting and Processing
Others
Healthcare & Pharmaceutical
Material Handling
Others
Metal Processing
Assembling and Disassembling
Milling
Machine Tending
Others

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By Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What is the goal of the report?

-The market report presents the estimated size of the ICT market at the end of the forecast -period.

-The report also examines historical and current market sizes.

-During the forecast period, the report analyzes the growth rate, market size, and market valuation.

-The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.

-The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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This release was published on openPR.