Robotic Vision Market Size, Strategic Analysis, Growth Drivers, Industry Trends, Demand and Future Opportunities and Forecast Period
The robotic vision market was
estimated to be worth USD 2.8 billion in 2023 and is expected to grow at a
compound annual growth rate (CAGR) of 9.8% from 2024 to 2034, reaching USD 6.1
billion in 2034. Robots can now process and integrate visual input from their
surroundings thanks to technology called robotic vision. The market is
developing and sustainable since it is associated with a variety of sectors.
Robotic vision, sometimes referred to as machine vision, is
a technology that enables robots to see their environment and communicate with
objects in real life. To analyze visual data, it combines camera and vision
technologies, such as 2D, 3D, and 4D vision technologies, with computer
algorithms, such as contour-based, correlation-based, feature extraction, and
cloud of points. It facilitates their ability to follow directions and complete
tasks such as material handling, welding and soldering, assembling and
disassembling, cutting, pressing, grinding, and deburring, measurement,
inspection, and testing.
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GROWTH DRIVERS
The advances in AI and ML greatly improve the robotic
vision system's capacity to process and analyze complicated visual inputs. The
incorporation of deep learning algorithms facilitates pattern recognition,
which empowers the robots to make more accurate decisions and adapt to novel
surroundings. The world around us is changing because of three interrelated
domains, according to the Stefanini: robots, artificial intelligence (AI), and
machine learning. The combination makes it possible to create intelligent,
flexible, and self-sufficient machines that are capable of carrying out a
greater variety of activities than in the past.
Robots are able to see and comprehend their surroundings
thanks to machine learning. Robots are able to recognize objects, follow their
movements, and make decisions based on visual data by evaluating photos and
movies taken by cameras. With increased accuracy and dexterity, robots can now
recognize and interact with things in their surroundings. robotic vision is
being used more and more in manufacturing and automation for tasks related to
quality assurance, inspection, and assembly.
MARKET
SEGMENTATION:
· By
Type – 2D Vision systems, 3D Vision systems (Single & Multi-camera
Triangulation, Time of Flight (ToF), Laser-based, Stereo Vision, Structured
Light) 4D Vision Systems
· By
Detection Algorithm- Contour-Based, Correlation-Based, Feature
Extraction, Cloud of Points
· By
Offerings – Hardware (Lighting, Processors & Controllers, Frame
Grabbers, Cameras Optics Other Hardwares), Software (Traditional Software, Deep
Learning Software) and Services
· By
Application- Welding & Soldering, Assembling & Disassembling,
Cutting, Pressing, Grinding, and Deburring, Measurement, Inspection and
Testing, Identification & Feature Extraction, Material Handling, Painting
and other Applications
· By
End-User- Automotive, Electronics and Semiconductors, Aerospace and
Defense, Food and Beverage, Pharmaceutical and Healthcare, Security and
Surveillance and Other End-User Industries
· By
Region- North America, Europe, Asia Pacific, The Middle East and
Africa, South America
Global Key
Players:
· Qualcomm
Technologies, Inc.
· Keyence
Corporation
· FANUC
Corporation
· ABB
Group
· Sick
AG
· Hexagon
AB
· OMRON
Corporation
· Advantech
· ISRA
Vision
· Xenics
NV
· Cognex
Corporation
· Other
Players
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