Global Robotic Vision Market– Overview
As applications relating to robotics soar, the concept of increasing vision in robots is also gathering momentum. Market reports associated with the semiconductors and electronics industry have been made available by Market Research Future which creates reports on other industry verticals that outlines the current market scenarios. The market is anticipated to develop at a CAGR of 12% while earning USD 9 billion by the end of forecast year.
Robotic vision is increasing in demand as it breaks the frontier of incorporating vision in machines so that they can be utilized for a wider range of operations. The integration of vision significantly improves the efficiency in robots. The development of the manufacturing industry, as well as the increasing need to standardize the quality standards, is integral to the overall market growth in the forecast period.
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The robotic vision market has been segmented on the basis of technology, components, regions, applications, and verticals. The segmentation of the robotic vision market on the basis of component is divided into software and hardware. The hardware segment is further segmented into optics, cameras, filters, lenses, and sensors. The software segment is also further divided into Image processing and tracking. The technology segment consists of 3D and 2D. The applications segment of the market comprises of manufacturing, welding, inspection & testing, painting, packaging & palletizing among others. The vertical based segmentation of the Robotic Vision Market comprises of consumer, industries, military & defense, healthcare, and government among others. The regions encompassed in the market are Asia Pacific, North America, Europe and the rest of the world.
Detailed Regional Analysis
The regional analysis of the market comprises of Asia Pacific, North America, Europe and rest of the world. The Asia Pacific region is developing as the fastest rising market and is anticipated to be the major market by the end of forecast period owing to the increase in demand for industrial robots in automation and manufacturing industries in this region. At present, the North American region holds the next position in the market owing to the deployment of vision-guided robots in food & beverages and manufacturing industries.
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The managing trends in the market are reinforcing the level of growth that can be achieved in the present market scenario. The market is at an optimally productive level and will be capable of generating greater value for the firms in the market and its shareholders. The evolution patterns are reviewed in tandem to the customer likings to realize the highest growth, and in the long run, viability. The diversification of the product assortment in the market is increasing the opportunity for the progress of the market. The potential for profitability in a market has been determined to be optimistic which will be fruitful for future expansions. The ability to utilize the economies of scale is further proving to be beneficial for overall market growth. Although, the market has also considerably neutralized the market advantages and thus is promoting an increase in the number of firms in the market.
The automotive industries drive the prominent market players in the robotic vision market in the European region. The incidence of players such as OMRON Corporation (Japan), Yaskawa Electric Corporation (Japan), FANUC Corporation (Japan), KUKA AG (Germany), Cognex Corporation (U.S), Kawasaki Heavy Industries Ltd. (Japan), Keyence Corporation (Japan), SICK AG (Germany), ABB Group (Switzerland), Basler AG (Germany) among others.
Mar 2018 Robotic VISION Technologies Inc. (RVT), a front-runner in the machine vision software industry, announced recently that it has acquired more than $10.5 million in funding. The investment is derived from a mix of CEO and Director funding as well as investments from technology funds from Silicon Valley, Canada, Northern Virginia, and Germany.
Sep 2018 Plus One Robotics Inc., a US -based company building computer software allowing robotic arms to work in logistics, lately raised $8.3 million from investors to scale its operations. The technology startup is renting office space at Port San Antonio on the city’s South Side as it builds out the business, which has an aim to give robots vision in the logistics industry to work safely together with people.
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