Soaring Demand Set to Propel Robotic Vision Market to $4 Billion by 2029

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What Is the Expected CAGR for the Robotic Vision Market Through 2025?
The market size of robotic vision has experienced notable growth recently. It is projected to grow from $2.53 billion in 2024 to $2.73 billion in 2025, with a compound annual growth rate (CAGR) of 8.2%. The development in the historical period is credited to increased processing prowess, the growth of industrial automation, the expansion in e-commerce and warehousing, the requirement for quality inspection in production, and a decrease in costs tied to vision components.

What's the Projected Size of the Global Robotic Vision Market by 2029?
The size of the market for robotic vision is projected to rapidly expand in the ensuing years, hitting $4 billion by 2029 with a compound annual growth rate (CAGR) of 10.0%. The predicted growth during this forecast period is largely due to the proliferation of autonomous vehicles, their deployment in smart cities, usage in risky environments, tailoring for small to medium-sized businesses, and increased use in the logistics and supply chain sectors. Key trends to watch out for within this forecasted period would include AI and machine learning integrations, developments in 3D vision technology, collaborative robots or cobots, real-time processing via edge computing, the robotics as a service (RaaS) models, enhanced capabilities in object recognition and tracking, connectivity through IoT integration, and robotic systems' cybersecurity.

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Top Growth Drivers in the Robotic Vision Industry: What's Accelerating the Market?
The rise in demand for smart cameras in robotic vision is fueling the expansion of the robotic vision market. Smart cameras are standard wireless cameras used for more than just recording videos or taking photos. They also transmit the content via Wi-Fi networks to a smartphone or cloud storage for archival needs. For many typical factory applications, these smart camera devices offer a standalone modular solution for robotic vision that is simple to incorporate and use. For instance, DataProt, a US-based organization devoted to cybersecurity and online protection, published a report in July 2023 showing a rise in the global use of smart home camera systems. Nearly 98.8 million households globally are using these systems, a number forecasted to double to about 180.7 million households by 2027. Hence, the escalating demand for smart cameras in robotic vision is propelling the progress of the robotic vision market.

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What Trends Will Shape the Robotic Vision Market Through 2029 and Beyond?
Prominent businesses in the robotic vision market are concentrating their efforts on developing cutting-edge industrial robot vision systems to amplify manufacturing automation. This advanced industrial robot vision system is essentially an intricate technology integrated into industrial robots, allowing them to perceive and understand their environment. It operates at an impressive speed, provides top-level recognition capabilities, and is user-friendly due to its innovative high-speed sensing technology. For example, Nikon Corporation, located in Japan, announced the release of NSP-150-1, NSP-250-1, and NSP-500-1, which are advanced industrial robot vision systems in May 2024. These systems employ image processing technology to achieve rapid measurements of up to 250 frames per second (fps) in both 2D and 3D models. Furthermore, the system is compatible with offline operations through cloud connectivity, enabling centralized administration of numerous robot vision systems.

What Are the Main Segments in the Robotic Vision Market?
The robotic visionmarket 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

Subsegments:
1) By Hardware: Cameras (2D And 3D), Image Sensors, Lighting Systems, Processing Units, Lenses And Optics
2) By Software: Image Processing Software, Machine Learning Algorithms, Computer Vision Software, Integration Software, Development Platforms

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Which Top Companies are Driving Growth in the Robotic Vision Market?
Major companies operating in the robotic vision market 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.

Which Regions Will Dominate the Robotic Vision Market Through 2029?
Asia-Pacific was the largest region in the robotic vision market share in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the robotic vision market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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