Robotic Vision Global Market to Grow $3.7 Billion at a Surprising CAGR of 9.4% By 2028 | Cognex Corporation, Omron Corporation, Keyence Corporation, Teledyne DALSA, Tordivel AS

The robotic vision market size has grown rapidly in recent years. It will grow from $2.34 billion in 2023 to $2.58 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to increased processing power, expansion of industrial automation, growth in e-commerce and warehousing, demand for quality inspection in manufacturing, cost reduction in vision components.

The robotic vision market size is expected to see strong growth in the next few years. It will grow to $3.7 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to expansion of autonomous vehicles, deployment in smart cities, application in hazardous environments, customization for small and medium-sized enterprises, increased adoption in logistics and supply chain. Major trends in the forecast period include integration with ai and machine learning, advancements in 3d vision technology, collaborative robots (cobots), edge computing for real-time processing, robotics as a service (raas) models, enhanced object recognition and tracking, iot integration for connectivity, cybersecurity for robotic systems.

Market Overview -
Robotic vision enables a robot to see, which includes a number of calibrated algorithms, calibration, and even temperature detection sensors, all of which have different levels of complexity and use.

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The Booming Demand For Smart Cameras Fuels The Evolution Of Robotic Vision
The surging demand for smart cameras in robotic vision propels the growth of the robotic vision market. Smart cameras refer to the standard wireless cameras that are employed for more than recording video, taking pictures, and sending the content over a Wi-Fi network to a smartphone or cloud storage for archival purposes. For many common factory applications, smart camera devices provide a modular standalone robotic vision solution that is straightforward to use and integrate. For an instance, in July 2023, according a report published by DataProt , a US-based platform that is dedicated to cybersecurity and online protection, smart home camera systems have been growing in popularity across the globe, with almost 98.8 million households worldwide using them. This number is expected to double by 2027 to about 180.7 million households. Thus, the surging demand for smart cameras in robotic vision is driving the growth of the robotic vision market.

Competitive Landscape -
Major companies operating in the robotic vision market report are Cognex Corporation, Omron Corporation, Keyence Corporation, Teledyne DALSA, Tordivel AS, ISRA VISION AG, Basler AG, SICK AG, Hexagon AB, Yaskawa Electric Corporation, Fanuc America Corporation, ABB Ltd., Google LLC, MVTEC Software GmbH, Kawasaki Heavy Industries Ltd., Acieta LLC, Nikon Metrology NV, KUKA AG, Cisco Systems Inc., Robert Bosch, Microsoft Corporation, Intel Corporation, National Instruments Corporation, Qualcomm Technologies Inc., DENSO Corporation, Mitsubishi Electric Corporation, Universal Robots A/S, Nachi Fujikoshi Corp., Stäubli International AG, Yamaha Robotics, Toshiba Machine Co. Ltd., Adept Technology Inc., Scape Technologies A/S, Blue River Technology Inc., Sight Machine Inc.

The Technological Evolution Of Robotic Vision
Technological development is a key trend gaining popularity in the robotic vision market. Major players in the robotic vision sector are focused on technological developments to sustain their market position. For instance, in January 2021, DreamVu Inc., a US-based, computer hardware manufacturing company engaged in the development of 360-degree and 3D cameras, robotics, and autonomous navigation, launched PAL and PAL Mini Omnidirectional 3D Vision Systems. PAL and PAL Mini have advanced imaging algorithms and provide visual intelligence and 3D point clouds with high-resolution vision, accurate depth, and color. Its cameras are appropriate for navigation systems, in applications where low power consumption and high dependability are crucial, such as residential vacuum-cleaning robots, commercial cleaning robots, and disinfection robots.

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Key Segments -
The robotic vision market covered in this report is segmented -
1) By Component: Hardware, Software
2) By Technology: 2D Vision, 3D Vision
3) By Industry: Electrical and Electronics, Metals and Machinery, Precision Engineering and Optics, Automotive, Pharmaceuticals and Cosmetics, Food and Beverages, Chemical, Rubber, and Plastic, Other Industries

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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