Robotic Vision Market Expected to Expand at a Steady CAGR through 2026

Robotic vision comprises of vision algorithm, calibration, temperature software & cameras that are used to identify and determine the position of all the objects in robot workplace. Apart from identification and navigation, robotic vision also facilitate robots to analyse, interpret, extract and characterize the image information and to make description accordingly. Robotic vision technology provides several benefits including improvement in quality, reliability, safety and productivity. Performance of robotic vision depends on the effective communication between robot system & application and control over the environment.

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Robotic Vision Market: Drivers and Restraint

Intelligent homes are specifically designed for the ageing population, where robots are capable to assists the elderly people in day-to-day tasks. The demand for intelligent homes is continuously increasing, as the ageing population is growing with significant rate across the globe. Increase in demand for intelligent homes, government regulations about sanitation in food processing industry and rising need of precise, safe and reliable vision guided robots in different verticals are major driving factors of the robotic vision market.

However, high initial investment and lack of global standards for robotic implementation are some of the major challenges for the robot vision market.

Robotic Vision Market: Segmentation

Robotic Vision market can be classified on the basis of component, application and type.

On the basis of component, the market can be bifurcated into hardware and software. Hardware segment consists of camera, sensors, lightning, and optics. Camera, sensors, lightning and optics incorporate with each other in order to facilitate the collapsible free movement of robot in environment. Camera, lightning and optics are used to capture the images while sensors allows obstacle free movement of robots. Software segment is composed of object tracking and image processing software.

Robotic vision has high demand in wide range of industries including food processing, automotive and aerospace for several applications. On the basis of applications, the robotic vision market is segmented into inspection & testing, material handling, manufacturing, assembling and packaging. Manufacturing and packaging are the dominating segments in the category, as the governments across the major countries maintain stringent sanitation standards in food processing & packaging industry.

On the basis of type, the market can be categorised in to 3D and 2D. 3D vision is more precise and capable of providing accurate dimensional data of an object. Currently, 3D robotic vision systems are more expensive than 2D and restricted for specialised operations.

Segmentation on basis of Region:

Robotic Vision Market is segmented into 7 key regions- North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan and Middle East & Africa.

Robotic Vision Market: Region-wise Outlook

North America was the largest market of robotic vision in terms of consumption in 2015. US was the leading market in the region, as there was significant growth in rate of deployment of reliable and precise vision guided robot systems in food and manufacturing industries in 2015.

By the end of year 2015, Asia Pacific was the fastest growing market for robotic vision, due to significant growth in demand for industrial robots in manufacturing and automotive industries in the region. China, South Korea and Japan were the leading regional markets in Asia Pacific.

Robot vision market in Europe is driven by the metal, automotive and food & beverage industry. Germany was the largest market in the region in terms of volume consumption in 2015.

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Robotic Vision Market: Key Players

Omron Adept Technologies, Inc (US),? ComauS.p.A.(Italy), MVTec Software GmbH (Germany), Matrox Electronic Systems Ltd. (Canada), ABB Ltd (Switzerland), Point Grey Research, Inc. (US),Cognex Corporation (US), Matrox Electronics Systems Ltd (Canada), Keyence Corporation (Japan), IVISYS (Sweden).

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This release was published on openPR.