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Machine Vision and Vision Guided Robotics Market Report Overview
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global machine vision and vision guided robotics market size was USD 18020 million in 2022 and market is projected to touch USD 32849.13 million by 2031 at CAGR 6.9% during the forecast period.
The COVID-19 pandemic has been unprecedented and staggering, with machine vision and vision guided robotics market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels once the pandemic is over.
Machine vision refers to the technology that enables machines to perceive and interpret visual information, similar to human vision. It involves the use of cameras, image processing algorithms, and artificial intelligence to analyze and make sense of visual data. Machine vision systems are employed in various applications such as quality control, object recognition, and defect detection in manufacturing processes. Vision-guided robotics, on the other hand, combines machine vision with robotics to enable robots to perceive and interact with their environment using visual feedback. This integration allows robots to perform tasks that require visual perception, such as pick-and-place operations, assembly, and navigation in dynamic environments.
The machine vision and vision guided robotics market size is experiencing significant growth due to several factors. Firstly, there is an increasing demand for automation in various industries, such as manufacturing, logistics, and healthcare. Machine vision and vision-guided robotics play a crucial role in automating complex tasks that require visual perception and decision-making capabilities. Secondly, advancements in technology have led to more powerful and affordable cameras, sensors, and processing units, making machine vision systems more accessible to a wider range of businesses. Additionally, the rising focus on improving quality control, enhancing productivity, and reducing errors in industrial processes has fueled the demand for machine vision solutions. Overall, the growing need for efficiency, accuracy, and automation is driving the increased adoption of machine vision and vision-guided robotics.
COVID-19 Impact: Global Supply Chains and Industrial Activities Have Been Interrupted by The Pandemic, Which Has Temporarily Decreased Demand for These Technologies
The COVID-19 pandemic has had both positive and negative impacts on the market for machine vision and vision-guided robotics. On one hand, the pandemic has disrupted global supply chains and manufacturing operations, leading to a temporary decline in demand for these technologies. Many industries faced challenges in maintaining production levels and faced restrictions on workforce presence. However, the pandemic has also accelerated the need for automation and contactless operations, which has driven the adoption of machine vision and vision-guided robotics. Industries such as healthcare, e-commerce, and food processing have increasingly turned to these technologies to ensure safe and efficient operations. The pandemic has highlighted the value of automation in mitigating disruptions and enhancing operational resilience, leading to a growing demand for machine vision and vision-guided robotics in the post-pandemic era.
Latest Trends
"The Combination of Artificial Intelligence (AI) And Deep Learning Algorithms Is One Development in The Industry for Machine Vision and Vision-Guided Robots"
One trend in the market for machine vision and vision-guided robotics is the integration of artificial intelligence (AI) and deep learning algorithms. AI-powered machine vision systems are capable of advanced image recognition, pattern detection, and decision-making, enabling more sophisticated and autonomous robotic applications. This trend is driving the development of new products and technologies, such as AI-driven vision sensors, deep learning algorithms for object detection and tracking, and neural networks for image processing. Leading players in the market are actively investing in research and development to enhance their AI capabilities and expand their product offerings. They are also focusing on developing collaborative robots (cobots) that can work alongside humans, incorporating machine vision systems to ensure safe and efficient human-robot interaction.
Machine Vision and Vision Guided Robotics Market SEGMENTATION
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- By type
Depending on machine vision and vision guided robotics given are types: PC-based machine vision systems, smart camera based machine vision systems, vision guided robotics. The PC-based machine vision systems type will capture the maximum market share through 2031.
- By Application
The market is divided into industrial application areas, non-industrial application areas based on application. the global machine vision and vision guided robotics market players in cover segment like Industrial Application Areas will dominate the market share during 2031.
Driving Factors
"The Growing Demand for Quality Control and Inspection in Industrial Processes Is One Driver Boosting the Market"
One driving factor behind the machine vision and vision guided robotics market growth is the increasing need for quality control and inspection in manufacturing processes. As industries strive to deliver products with high precision and consistency, machine vision systems provide an effective solution for automating quality control procedures. These systems can quickly and accurately detect defects, measure dimensions, and perform visual inspections, thereby improving product quality and reducing the likelihood of human error. The demand for reliable and efficient quality control measures has led to the widespread adoption of machine vision technology in various industries, including automotive, electronics, pharmaceuticals, and food and beverage.
"The Growing Focus On Productivity and Efficiency in Industrial Processes Is Another Factor Fueling the Expansion of the Market"
Another driving factor behind the machine vision and vision guided robotics market growth is the increasing emphasis on productivity and efficiency in industrial processes. Businesses across different sectors are constantly seeking ways to optimize their operations and improve their overall output. Machine vision and vision-guided robotics offer significant advantages in this regard by automating tasks that require visual perception and decision-making. These technologies enable faster and more accurate inspection, sorting, assembly, and packaging processes, resulting in enhanced productivity and cost savings. By implementing machine vision systems, companies can streamline their operations, reduce cycle times, minimize errors, and achieve higher throughput. The demand for improved productivity and efficiency is fueling the adoption of machine vision and vision-guided robotics in industries worldwide.
Restraining Factors
"The Initial High Cost of Implementation Is One Aspect That Might Limit the Market Growth for Machine Vision and Vision-Guided Robots"
One restraining factor that can affect the machine vision and vision guided robotics market growth is the initial high cost of implementation. Setting up a machine vision system or integrating vision-guided robotics into existing processes often requires significant upfront investments in equipment, software, and training. This cost can pose a barrier for smaller businesses or those with limited budgets. Additionally, maintenance and technical support for these systems can also incur ongoing expenses. The perceived cost and complexity of implementation can deter some companies from adopting these technologies, especially if they do not see an immediate return on investment. Overcoming this barrier may require greater awareness of the long-term benefits, advancements in affordability, and the development of user-friendly solutions.
Machine Vision and Vision Guided Robotics Market Regional Insights
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"North America Is Positioned to Become a Key Hub Because To The Region's Emphasis On Research And Development And The Rising Need For Automation"
North America is emerging as the leading region in the market for machine vision and vision-guided robotics. The region's dominance can be attributed to several factors. Firstly, North America has a strong presence of key players in the industry, including technology providers, manufacturers, and system integrators, driving innovation and advancements in the field. Additionally, the region has a well-established industrial base across sectors such as automotive, electronics, and pharmaceuticals, which are major end-users of machine vision technology. Moreover, North America has witnessed increasing adoption of automation in manufacturing processes, with companies seeking to improve efficiency and reduce costs. The region's focus on research and development, coupled with the growing demand for automation, positions North America as a leading hub for machine vision and vision guided robotics market share.
Europe stands as the second-leading region in the machine vision and vision guided robotics market share. The region's strong presence in the market is driven by several factors. Europe is home to numerous advanced manufacturing industries, including automotive, aerospace, and electronics, which heavily rely on machine vision technology for quality control and automation. Additionally, the region has a robust ecosystem of technology providers, research institutions, and system integrators, fostering innovation and driving the adoption of these technologies. Furthermore, European countries have been actively investing in Industry 4.0 initiatives, promoting the integration of automation and smart manufacturing, further boosting the demand for machine vision and vision-guided robotics in the region.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Cognex (U.S.)
- Teledyne Dalsa (Canada)
- Basler AG (Germany)
- Absolute Vision (U.K.)
- Stemmer Imaging (Germany)
- ISRA Vision (Germany)
- Vitronics JAI A/S (Denmark)
- Adept Technology (U.S.)
- Allied Vision Technologies (Germany)
- Bit Flow (U.S.)
- Eastman Kodak (U.S.)
- Edmund Optics (U.S.)
- Electro Scientific Industries (U.S.)
- Kla Tencor (U.S.)
- Matrox (Canada)
- Microscan Systems (U.S.)
- Mvtec Software (Germany)
- National Instrument (U.S.)
- Omron Corp (Japan)
- Ppt Vision (U.S.)
- Prophotonix (U.S.)
- Teradyne Dalsa (Canada)
- Toshiba Teli (Japan)
- Videk (U.S.)
- Xiris Automation (Canada)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 18020 Million in 2022 |
Market Size Value By |
US$ 32849.13 Million by 2031 |
Growth Rate |
CAGR of 6.9% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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1. What value is the machine vision and vision guided robotics market expected to touch by 2031?
The global machine vision and vision guided robotics market size is expected to reach USD 32849.13 million by 2031.
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2. What CAGR is the machine vision and vision guided robotics market expected to exhibit by 2031?
The machine vision and vision guided robotics market is expected to exhibit a CAGR of 6.9 % by 2031.
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3. Which are the driving factors of the market?
The driving factors of the market are growing demand for quality control and inspection in industrial processes and growing focus on productivity and efficiency in industrial processes.
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4. Which are the key players or most dominating companies functioning in the market?
The dominating companies in the market are Cognex, Teledyne Dalsa, Basler AG, Absolute Vision, Stemmer Imaging, ISRA Vision.