Worldwide Machine Vision and Vision Guided Robotics Industry to 2029 - by Product, Technology, Application and Region
DUBLIN, Aug. 3, 2021 /PRNewswire/ -- The "Machine Vision and Vision Guided Robotics Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029" report has been added to ResearchAndMarkets.com's offering.
The machine vision and vision-guided robotics market expected to grow at a compound annual growth rate of 9.8% during the forecast period. The increasing need for automation and safety, high labor costs, a shortage of qualified workforce, and increased investment in research and development activities are driving the vision-guided robotics market. The atomization of human seeing can be defined as machine vision. It must not only collect a picture (like our eyes do) but also process these images and provide results (the function of the brain).
Machine vision is utilized in a variety of industrial operations, including material inspection, object recognition, electronic component analysis, signature recognition, optical character recognition, and currencies. A vision-guided robot (VGR) system is a robot having one or more cameras used to supply the robot controller with a second feedback signal, to move more accurately to a variable destination. This report covers all the quantitative aspects of the machine vision and vision-guided robotics market and also talks about its key drivers, the challenges it faces, the growth opportunities present in the market, and its future prospects.
Low Production Cost and Increased Productivity to Accelerate Market Growth
The growth of the vision-guided robotics market is being fueled by the increasing industrialization of emerging and industrialized nations. In the automotive industry, vision-guided robot systems are utilized to increase productivity while reducing complexity, production costs, and human errors. Machine vision market demand has been driven by recent breakthroughs in machine vision technology, such as smart cameras, increased compatibility with diverse systems, and vision-guided robotics. It has several benefits, including high quality, increased productivity, less machine downtime and setup time, lower equipment costs, and inventory control. Machine vision and vision-guided robot systems will be widely used in traffic management and security. The covid-19 epidemic is predicted to accelerate the expansion of the machine vision and vision-guided robotics market, and it has now become an essential component of the long-term automation advancement process. Manufacturing firms are expected to invest in automation, and the demand for automated quality assurance has expanded across industries. This is due to the necessity for less human interaction in the process.
Smart Camera-Based Machine Vision Systems Dominate the Market
The market has been segmented based on the product, technology, application, and region. Based on the product segment, the machine vision and vision-guided robotics market are divided into pc-based machine vision systems, smart camera-based machine vision systems, and vision-guided robotics systems. Smart camera-based machine vision systems are predicted to have the biggest market share throughout the forecast period, owing to increased demand for smart cameras that are cost-effective, compact, and simple to install, as well as the expanding acceptance of cameras in 3D imaging. Machine vision systems are made up of a large number of cameras. These cameras are installed above assembly lines to inspect products and collect data. As a result, smart camera-based machine vision systems can read labels and direct their products without human intervention, resulting in fewer errors. Based on application, the market is divided into automotive, electronics, aerospace, food and beverage, pharmaceuticals, and others. To solve quality concerns, vision systems are becoming increasingly important to automotive manufacturers.
North America to Lead Global Market
The machine vision and vision-guided robotics market are divided into North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa, and the rest of the world based on the regional segmentation. North America has the largest market in the world, with robots being used in a variety of industries. The federal government is investing heavily in increasing the production of machine vision systems, which will move the market forward throughout the forecast period. During the projected period, the vision-guided robots market in the Asia Pacific is expected to rise at a significant rate. Machine vision and vision-guided robotics markets are growing as manufacturing industries in Asia Pacific's emerging economies adopt novel technology. Price deflation, rising disposable income, growing urbanization, and the adoption of novel technologies are all driving demand for consumer electronics, which will boost the market. Furthermore, the expenditure, operational benefits, and efforts undertaken by the governments of growing countries such as South Korea, India, Taiwan, and Singapore are responsible for the increase in investments and the establishment of many industry participants in the Asia Pacific region.
Key Players
Qualcomm Technologies, Keyence Corporation, FANUC Corporation, ABB Group, Sick AG, Teledyne Dalsa Inc., Cognex Corporation, Omron Adept Technology, National Instruments Corporation, and Hexagon AB are major players in the machine vision and vision-guided robotics market. To remain competitive in the global machine vision and vision-guided robotics market, players have employed a variety of marketing strategies, including new product launches, expansion, joint ventures, and acquisitions. The report provides a comprehensive examination of leading firms as well as a discussion of market competitiveness. Product launch is a major strategy for the market's major players in machine vision and vision-guided robotics.
Key Topics Covered:
Chapter 1. Preface
Chapter 2. Executive Summary
Chapter 3. Machine Vision and Vision Guided Robotics Market: Market Dynamics and Future Outlook
3.1. Market Overview
3.2. Current Scenario: New Product Launches, Increase in Animal-Free Testing
3.3. Drivers
3.4. Challenges
3.5. Opportunities
3.6. Attractive Investment Proposition, by Geography, 2020
3.7. Competitive Landscape (Key Players)
3.7.1. Mergers and Acquisition Analysis
3.7.2. Agreements, Collaborations, and Partnership
3.7.3. New Product Launches
Chapter 4. Machine Vision and Vision Guided Robotics Market, By Product, 2019 - 2029 (US$ Mn)
4.1. Overview
4.2. PC-Based Machine Vision System
4.3. Smart Camera-Based Machine Vision System
4.4. Vision Guided Robots
Chapter 5. Machine Vision and Vision Guided Robotics Market, By Technology, 2019 - 2029 (US$ Mn)
5.1. Overview
5.2. 2D Vision
5.3. 3D Vision
Chapter 6. Machine Vision and Vision Guided Robotics Market, By Application, 2019 - 2029 (US$ Mn)
6.1. Overview
6.2. Automotive
6.3. Electronics
6.4. Aerospace
6.5. Food and Beverage
6.6. Pharmaceuticals
6.7. Others
Chapter 7. Machine Vision and Vision Guided Robotics Market, By Regional Market Analysis, 2019 - 2029 (US$ Mn)
7.1. Definition & Scope
7.2. Regional Market Share Analysis, 2019 & 2029
7.3. Regional Market Dashboard
7.4. Regional Market Snapshot
7.5. Regional Market Share Analysis 2019 to 2029
7.5.1. North America
7.5.2. Europe
7.5.3. Asia Pacific
7.5.4. Latin America
7.5.5. Middle East and Africa
7.6. SWOT Analysis, by Factor (Political & Legal, Economic and Technological)
7.6.1. North America
7.6.2. Europe
7.6.3. Asia Pacific
7.6.4. Latin America
7.6.5. Middle East and Africa
7.7. Market Size, & Forecasts, Revenue and Trend Analysis, 2019 to 2029
Chapter 8. North America Machine Vision and Vision Guided Robotics Market, Regional Market Analysis, 2019 - 2029 (US$ Mn)
Chapter 9. Latin America Machine Vision and Vision Guided RoboticsMarket, Regional Market Analysis, 2019 - 2029 (US$ Mn)
Chapter 10. Europe Machine Vision and Vision Guided Robotics Market, Regional Market Analysis, 2019 - 2029 (US$ Mn)
Chapter 11. Asia Pacific Machine Vision and Vision Guided Robotics Market, Regional Market Analysis, 2019 - 2029 (US$ Mn)
Chapter 12. Middle East & Africa (MEA)Machine Vision and Vision Guided Robotics Market, Regional Market Analysis, 2019 - 2029 (US$ Mn)
Chapter 13. Company Profiles
13.1. Qualcomm Technologies
13.1.1. Business Overview
13.1.2. Financial Information (Subject to data availability)
13.1.3. Application Portfolio
13.1.4. Key Developments
13.2. Keyence Corporation
13.3. FANUC Corporation
13.4. ABB Group
13.5. Sick AG
13.6. Teledyne Dalsa Inc.
13.7. Cognex Corporation
13.8. Omron Adept Technology
13.9. National Instruments Corporation
13.10. Hexagon AB
For more information about this report visit https://www.researchandmarkets.com/r/sfqnh4
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