The vision guided robotics market size is projected to reach US$ 10.23 billion by 2031 from US$ 5.16 billion in 2023. The market is expected to register a CAGR of 8.9% in 2023–2031. The introduction of the Industry 4.0 concept and the growing need for industrial automation across industries is likely to remain a key vision guided robotics market trend.
The vision guided robotics market is growing at a rapid pace due to the growing concern related to labor safety, increased demand for quality inspection and control among industries, and rising adoption of vision guided robotics in SMEs. The market is expanding steadily, driven by the growing use of collaborative robots in collaborative manufacturing settings. Moreover, the evolution of advanced technologies and developments in machine vision technology is providing lucrative opportunities for market growth.
Vision guided robotics is a robotics system that employs computer vision algorithms and cameras to allow robots to accomplish tasks requiring visual perception and interpretation. The primary idea behind vision guided robotics is to give robots the ability to see and understand their surroundings, allowing them to navigate, interact with things, and perform tasks more accurately and efficiently. Vision guided robots often use high-resolution cameras, modern image processing, and machine learning algorithms to assess visual data and make judgments based on it. Vision-guided robotics is commonly used for pick-and-place activities, assembly and inspection, packaging, and quality control. The growing adoption of vision guided robotics in numerous industries, such as automotive, aerospace & defense, food & beverages, electrical & electronic, healthcare & pharmaceutical, metal processing, and others, is driving the market.
As international labor safety requirements become more stringent, industries across the globe are shifting their preference toward the adoption of robots by replacing human workers in dangerous areas. Robots can perform tasks that are harmful and unsafe for humans, which increases their demand in hazardous areas, including operating in harsh terrains and managing hazardous substances. Industries can reduce risks, and the number of workplace accidents by using robots in certain risky environments is fueling the vision guided robotics market during the forecast period.
The introduction of new technology has resulted in the development of more effective and efficient robotics in the market. These technologically advanced robots can do tasks with higher accuracy and precision, which leads to lower costs. Hence, creating opportunities in the market growth during the forecast period.
Technological advancements have made robotics systems more compact and modular, resulting in higher-quality, more versatile robots. The growing usage of augmented and modular robots is generating significant growth opportunities for the market in the near future.
Key segments that contributed to the derivation of the vision guided robotics market analysis are component type, type, and industry vertical.
The geographic scope of the vision guided robotics market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
In terms of revenue, Asia Pacific accounted for the largest vision guided robotics market share, due to the emerging technologies and high volume of manufacturing capabilities. Furthermore, the growing deployment of the Industry 4.0 concept and increasing investment from businesses to set up manufacturing facilities are expected to fuel demand throughout the projection period.
The vision guided robotics market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for vision guided robotics and strategies:
The “Vision Guided Robotics Market Size and Forecast (2023–2031)” report provides a detailed analysis of the market covering below areas:
The regional trends and factors influencing the Vision Guided Robotics Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Vision Guided Robotics Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 5.16 Billion |
| Market Size by 2031 | US$ 10.23 Billion |
| Global CAGR (2023 - 2031) | 8.9% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Component Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Vision Guided Robotics Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Vision Guided Robotics Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The global vision guided robotics market was estimated to be US$ 5.16 billion in 2023 and is expected to grow at a CAGR of 8.9% during the forecast period 2023 - 2031.
The growing concern related to labor safety, increased demand for quality inspection and control among industries, and rising adoption of vision guided robotics in SMEs are the major factors that propel the global vision guided robotics market.
The introduction of the Industry 4.0 concept and the growing need for industrial automation across industries will play a significant role in the global vision guided robotics market in the coming years.
The key players holding majority shares in the global vision guided robotics market are ABB Ltd., Basler AG, Cognex, Denso Corporation, and Fanuc Corporation.
The global vision guided robotics market is expected to reach US$ 10.23 billion by 2031.
The incremental growth expected to be recorded for the global vision guided robotics market during the forecast period is US$ 5.07 billion.