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Robotic Vision Market Size to Touch USD 5.25 billion, Rising at a CAGR of 9.51% by 2031: SNS Insider


The Robotic Vision Market Size was USD 2.54 Billion in 2023 and is projected to reach USD 5.25 Billion by 2031, with a Compound Annual Growth Rate of 9.51% over the forecast period of 2024-2031, According to the SNS Insider report.

Market analysis

The robotic vision market is experiencing significant growth due to the increasing adoption of smart cameras and the increasing demand for customized robotic vision systems. Smart cameras offer a cost-effective and user-friendly alternative to complex PC-based vision systems, while customized solutions cater to the specific needs of various industries, ensuring quality and efficiency. The widespread adoption of smart cameras is a key driver. These compact, integrated cameras offer faster processing, easier programming, and a lower price point compared to traditional vision systems. Their ruggedized design makes them ideal for harsh industrial environments. Industries such as pharmaceuticals and food & beverage are early adopters due to their ease of integration and configuration.

The customized robotic vision systems demand is consistently increasing in various sectors such as automotive assembly, food packaging, medical devices, and pharmaceuticals. Manufacturers are increasingly turning to flexible solutions to meet the increasing demand for quality products and cater to high/low volume orders. This trend Drive the growth of collaborative robots, designed for safe human-robot collaboration in tasks Such as quality inspection. Companies such as Sick AG (Germany) offer customizable 2D and 3D vision sensors to cater to specific needs.

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Top Companies Featured in Robotic Vision Market Report:

  • Cognex Corporation
  • OMRON Corporation
  • Keyence Corporation
  • Teledyne DALSA
  • Tordivel AS
  • Advantech
  • ISRA Visio
  • Basler AG
  • National Instruments Corporation
  • SICK AG
  • Hexagon AB
  • Yaskawa America Inc
  • Fanuc corporation

Recent Development

– Cognex Corporation introduced the Advantage 182 vision system in May 2023, integrating machine vision, barcode reading, and advanced edge learning for tasks like location identification and inspection.

– Teledyne DALSA’s Sapera Vision Software received updates in March 2023, enhancing its AI training and image processing capabilities.

Robotic Vision Industry Segmentation as Follows:

BY TYPE:

  • 2D Vision Systems
  • 3D Vision Systems

The 3D Vision Systems segment is projected to experience the highest CAGR within the forecast period. Technological advancements in hardware, sensors, and imaging have made them more affordable and accurate. This versatility is evident in their various applications across robotics, manufacturing, healthcare, and entertainment. The advancements in machine learning enhance the understanding of complex visual data collected by these systems.

BY INDUSTRY

  • Electrical & Electronics
  • Metals & Machinery
  • Security Service
  • Precision Engineering & Optics
  • Chemical, Rubber, & Plastic
  • Food & Beverages
  • Automobile Sector
  • Pharmaceuticals & Cosmetics
  • Others

The Food & Beverages Industry is expected to grow with the fastest growth. Robotic vision has revolutionized this sector with applications in quality inspection, packaging, sorting, pick-and-place operations, food safety, traceability, and even autonomous vehicles. This technology improves efficiency, product quality, and safety standards, Driving the significant growth in the food & beverages segment.

BY DEPLOYMENT

  • Robotic Guidance Systems
  • Detection Algorithm
  • Correlation-Based
  • Cloud of points
  • Robotic Cells
  • Contour-Based
  • Feature Extraction

BY COMPONENT:

  • Software
  • Traditional Software
  • Hardware
  • Optics
  • Processors and Controllers
  • Cameras
  • Lighting
  • Frame Grabbers
  • Deep Learning Software
  • Others

BY APPLICATION

  • Welding & Soldering
  • Packaging & Palletizing
  • Assembling & Disassembling
  • Measurement, Inspection, & Testing
  • Material Handling
  • Painting

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Impact of External Factors

Russia-Ukraine conflict disrupts supply chains for critical components, impacting production and lead times for robotic vision systems. The sanctions imposed on Russia limit market opportunities in the region. A potential global economic slowdown could reduce investments in automation technologies such as robotic vision systems. However, the long-term benefits of increased efficiency and cost savings are likely to outweigh these short-term concerns.

Key Regional Developments

The Asia Pacific region holds the largest market share due to its position as the world’s manufacturing hub. China, a major market for emerging technologies such as robots and vision systems, drives regional growth. The large-scale manufacturing industries in other Asian countries such as Japan and South Korea further contribute to the dominance of the Asia Pacific region.

Key Takeaways for the Robotic Vision Market Study

  • The robotic vision market is experiencing significant growth driven by the adoption of smart cameras and customized solutions.
  • The 3D Vision Systems segment and the Food & Beverages Industry are expected to experience the fastest growth within the forecast period.
  • The Asia Pacific region is the dominant market due to its position as the global manufacturing hub.

Table of Content – Major Key Points

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Robotic Vision Market Segmentation, By Type
9. Robotic Vision Market Segmentation, By Deployment
10. Robotic Vision Market Segmentation, By Industry
11. Robotic Vision Market Segmentation, By Component
12. Robotic Vision Market Segmentation, By Application
13. Regional Analysis
14. Company Profile
15. Competitive Landscape
16. USE Cases and Best Practices
17. Conclusion

Continued….

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