Global Machine Vision and Vision Guided Robotics Market is anticipated to generate a revenue of US$ 29,705.2 Mn by 2030, at a compounded annual growth rate of 8.22%, the market is witnessing an opportunity of US$ 14,735.1 Mn during 2021-2030.
In terms of volume, the global machine vision and vision guided robotics market was valued at 1,88,907 units in 2021 and is projected to reach 3,71,080 units by the end of the year 2030. Machine vision is an automated technology where images are taken and transferred to the PC and processed thereafter to inspect and report the processed results. A vision-guided robot (VGR) system is a robot with one or more cameras that provide a second feedback signal to the robot controller, allowing it to travel more precisely to a varied destination. It allows robots to perform basic tasks like presence detection to real-time inspection.
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Market Dynamics
Several factors are propelling the growth of this market:
- Technological Advancements: Innovations in image processing, artificial intelligence (AI), and machine learning are expanding the capabilities of machine vision systems, making them more versatile and effective.
- Industry 4.0: As industries embrace the fourth industrial revolution, the integration of smart technologies like vision-guided robotics is becoming essential for staying competitive.
- Increased Automation: The need for precision and efficiency in manufacturing, logistics, and other sectors is driving the adoption of machine vision and robotics solutions.
Key Opportunities
The market is witnessing significant opportunities, with a potential growth of $14,735.1 million from 2021 to 2030. This growth is attributed to increasing investments in automation and advancements in robotics technology. Companies are leveraging these technologies to streamline operations, reduce labor costs, and achieve higher levels of precision.
Regional Insights
While the global market is expanding, regions such as North America, Europe, and Asia-Pacific are leading the way. Each region presents unique opportunities and challenges, driven by local industry needs and technological adoption rates.
Looking Ahead
As we look toward the future, the Machine Vision and Vision Guided Robotics market is set to redefine the landscape of industrial automation. With a projected CAGR of 8.22%, businesses and investors are keenly watching this space, anticipating new innovations and applications that will further drive growth.
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Segmentation Overview
By Component
- Hardware
- Software
- Services
By Platform
- PC Based
- Camera-Based
- Vision Guided Robots
By Type
- 1D
- 2D
- 3D
By Application
- Positioning/guidance/location
- Identification
- Inspection and verification
- Gauging/measurement
- Soldering and welding
- Material Handling
- Assembling and disassembling
- Painting and dispensing
- Others
By Industry
- Automotive
- Electrical & electronics
- Aerospace & Defense
- Food & Beverage
- Healthcare & Pharmaceutical
- Metal processing
- Warehouse & logistics
- Retail & E-commerce
- Others
By Region
- North America
- The US
- Canada
- Mexico
- Europe
- The UK
- Germany
- France
- Italy
- Spain
- Poland
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- South Korea
- ASEAN
- Rest of APAC
- South America
- Argentina
- Brazil
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
Competitive Insight
Cognex Corporation, Basler AG, ISRA Vision AG, Teledyne Digital Imaging Inc., STEMMER Imaging AG, Eastman Kodak Company, Keyence Corporation, Hexagon AB, Qualcomm Technologies, and Allied Vision Technologies GmbH among others.
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