Vision Guided Robotics Market to grow by USD 4.15 billion from 2022 to 2027, Decline in electronic component prices to drive the growth - Technavio

NEW YORK, Sept. 15, 2023 /PRNewswire/ -- The vision guided robotics market is expected to grow by USD 4.15 billion from 2022 to 2027. However, the growth momentum of the market will progress at a CAGR of 10.04% during the forecast period. The market is segmented by application (logistics, welding, inspection and cleaning, and painting), type (2D-vision and 3D-vision), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The decline in electronic component prices is a key factor driving market growth. The abundant availability of electronic robotic components is significantly driving the development of new products in the visual control robot market. In addition, a number of new research, as well as technological advancements in the industry, have caused the prices of electronic components such as sensors and cameras to drop. Furthermore, some PC software uses these visual operators for these robots. Hence, these factors are expected to drive market growth during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View FREE PDF Sample 

Key Highlights:

• The report recognizes the following as some of the key players in the vision guided robotics market: ABB Ltd., Acieta LLC, Atlas Copco AB, Basler AG, Cognex Corp., Cross Co., DENSO Corp., GECKO ROBOTICS INC., General Electric Co., Invert Robotics Group Ltd., IPG Photonics Corp., Keyence Corp., OMRON Corp., Pleora Technologies Inc., Previan Technologies Inc., Qualitas Technologies Pvt. Ltd., Robotic Automation Systems, Teradyne Inc., Yaskawa Electric Corp., and FANUC Corp.
• Vision Guided Robotics Market is fragmented in nature.
• Market to observe 9.86% YOY growth in 2023.

Major Trend

• Flexible assembly lines are a major trend in the market.

Significant Challenge

• The battery life of vision-guided robots is a significant challenge restricting market growth.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Keg Segments:

• The logistics segment is estimated to witness significant growth during the forecast period. This segment is one of the most used applications in several industries such as food, beverage, and warehousing. Traditionally, most robots have been integrated into assembly lines and conveyors used for operations. Therefore, the integration of such vision systems has enabled the robot to understand the shape and size of the object and improve the operational efficiency of the packaging. Furthermore. The introduction of the 3D vision system has revolutionized the whole vision system. Hence, these factors are expected to drive market growth during the forecast period.

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Related Reports:

The robotics as a service (RaaS) market size is estimated to grow at a CAGR of 18.29% between 2022 and 2027. The market size is forecast to increase by USD 1,497.76 million. This report extensively covers market segmentation by type (professional and personal), application (intralogistics, medical applications, surveillance and security, field robotics, and others), and geography (APAC, North America, Europe, South America, and the Middle East and Africa). Increased remote services and the adoption of IoT is the key factor driving the growth of the market.

The Machine Vision (MV) market size is estimated to grow at a CAGR of 9.78% between 2022 and 2027. The market size is forecast to increase by USD 7,234.81 million. This report extensively covers market segmentation by end-user (industrial and non-industrial), type (vision system, cameras, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America).  Significant cost savings in operation due to process control is the key factor driving the growth of the market.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

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SOURCE Technavio