Vision Guided Robots (VGR) Market Anticipated to Skyrocket, Projected to Surpass $20.10 Billion by 2030

According to the Next Move Strategy Consulting, the vision guided robots market size is anticipated to surpass $20.10 billion by 2030 reflecting a CAGR of 12.7% during the forecast period till 2030. This remarkable surge is attributed to the escalating demand for advanced automation solutions across industries, driving the adoption of Vision Guided Robots to optimize operations, enhance productivity, and meet evolving technological needs.

Market Overview:

The Vision Guided Robots market is experiencing a transformative boom as businesses increasingly turn to cutting-edge automation solutions to streamline processes and gain a competitive edge in the global market. The demand for VGR is propelled by the ongoing industrial revolution, where industries seek to integrate smart technologies to achieve operational excellence. Vision Guided Robots, equipped with advanced imaging systems and artificial intelligence, emerge as pivotal tools in this automation journey, enabling precision, flexibility, and efficiency.

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Key Market Drivers:

1. Industry 4.0 Integration: The ongoing Industry 4.0 revolution, characterized by the integration of smart technologies, is a primary driver for the Vision Guided Robots market. VGR plays a crucial role in the era of intelligent manufacturing, facilitating seamless collaboration between humans and robots, and ensuring precision in tasks such as pick-and-place, assembly, and quality control.

2. E-commerce and Logistics Optimization: With the exponential growth of e-commerce, there is an increasing need for efficient logistics and warehousing solutions. Vision Guided Robots prove instrumental in automating material handling, sorting, and packaging processes, thereby enhancing the speed and accuracy of operations in the e-commerce and logistics sector.

3. Quality Inspection and Assurance: Vision Guided Robots are extensively used for quality inspection in manufacturing processes. Equipped with advanced imaging systems, VGR can detect defects and anomalies with high precision, ensuring the delivery of high-quality products. This capability reduces errors and minimizes production costs.

4. Healthcare and Life Sciences Applications: The healthcare and life sciences sector is witnessing a surge in the adoption of Vision Guided Robots for tasks such as surgical assistance, laboratory automation, and pharmaceutical manufacturing. VGR contributes to improved efficiency and accuracy in critical medical processes. The adoption of VGR in healthcare and life sciences enhances precision in medical processes, reduces the margin of error in surgeries and laboratory procedures, and contributes to advancements in pharmaceutical manufacturing, ultimately improving patient outcomes.

Market Segmentation:

The vision guided robots market includes various segments, including:

Type: Based on type, the market is segmented into 2D vision system and 3D vision systems.

Component: Based on component, the market divided into hardware, software, and services.

Industry Vertical: Based on industry vertical, the market is categorized into automotive, electrical & electronics, aerospace & defence, food & beverage, healthcare & pharmaceuticals, meat processing, and others.
Geographical Regions: Based on region, the market is analysed into North America, Europe, and Asia-Pacific, and Rest of World (RoW).

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Outlook and Future Prospects:

The Vision Guided Robots market is witnessing a paradigm shift with the emergence of collaborative robots and advancements in artificial intelligence. The integration of machine learning algorithms enhances the decision-making capabilities of VGR, making them more adaptive and versatile. The future holds tremendous potential for Vision Guided Robots in diverse industries, ranging from healthcare and manufacturing to logistics and beyond.

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The high cost of vision-guided robots, along with the complex procedures involved in their implementation, makes them more vulnerable to cyber-attacks. This could hinder the market growth of vision-guided robots during the forecast period. Additionally, the high costs and lack of technical expertise among small startup industries make them reluctant to adopt machine vision systems, which further restricts the market growth.

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Regional Dominance:

The Asia-Pacific region is a leading force in the vision-guided robotics market and is poised to maintain its position during the projected period. This dominance is fueled by a high concentration of manufacturing facilities in countries such as China, Japan, and India, which employ vision-guided robots for a variety of applications, including inspection, quality control, assembly, part locating, and transportation. This widespread adoption of vision-guided robots is a driving force behind the market's expansion.

The presence of major companies such as Denso Corporation, Yaskawa Electric Corporation, and Fanuc Corporation is significantly driving the market growth in this region. For example, in June 2021, Yaskawa Motoman Robotics, a subsidiary of Yaskawa Electric Corporation, introduced the GP70L industrial robot. Designed specifically for logistics tasks such as palletizing and depalletizing, the GP70L is compatible with 3D vision technology.

On the other hand, the logistics industry in North America is expected to drive a steady rise in the vision-guided robots market share as companies seek to automate the process of storing goods in warehouses and storage facilities. For example, in August 2021, FedEx deployed Berkshire Grey's vision-guided robotic system called RPSi in its FedEx Ground shipment center in New York. The RPSi system is used to efficiently sort small packages that arrive in bulk and are bound for other specific hubs and stations across the FedEx Ground network.

Furthermore, the presence of major companies including Cognex Corporation, Omron Adept Technology Inc., and Pleora Technologies Inc. is further driving the market growth in this region. For example, Pleora Technologies Inc. announced in May 2022 that DICA Electronics Ltd. is implementing Pleora's visual inspection system to enhance manufacturing quality and gather and analyze data from manual processes. Pleora's Visual Inspection System further assists DICA in identifying errors such as incorrect components and orientation, solder flaws, and through-hole issues.

Competitive Landscape:

The market comprises various market players such as Basler AG, ABB, Teledyne Technologies, Yaskawa Electric Corporation, Omron Adept Technology Inc., FANUC, Teradyne Inc., Keyence Corporation, Hexagon AB, and DENSO Robotics. These market players are adopting several strategies, such as completing acquisitions and launching numerous products across various regions, to maintain their dominance in the vision-guided robots market.

For instance, in May 2022, Basler AG made a strategic move to broaden its product and service offerings by acquiring the distribution business of Advanced Technologies S.P.A., a company with over two decades of experience in image processing components and solutions.

Additionally, Omron Adept expanded its product portfolio in March 2022 with the launch of a series of affordable cameras designed for embedded vision applications. Known as the Omron B Series GigE Vision, these cameras incorporate Sony's Pregius and Starvis CMOS sensors, delivering resolutions up to 20 megapixels and frame rates up to 282.8 FPS.

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This release was published on openPR.