CHICAGO, UNITED STATES, October 10, 2022 /EINPresswire.com/ — Astute Analytica reports that the global Machine Vision and Vision Guided Robotics Market was valued at US$ 14,970.1 Mn in 2021 and is expected to grow to US$ 29,705.2 Mn by 2030 by registering a CAGR of 8.22% during the study period.
Request Sample Report at: https://www.astuteanalytica.com/request-sample/machine-vision-and-vision-guided-robotics-market
The Machine Vision industry has come a long way in terms of evolution, from just standalone proprietary box modules to advanced modular vision components. Machine vision and vision-guided robotics are widely being used across automotive, electronics, defense, healthcare, food & beverage, and various other industries to explore sections of real-world models through non-contact optical sensing. Machine vision systems enable high precision in manufacturing operations, particularly in inspection and other redundant areas. Moreover, these systems also enhance productivity and lessen machine downtime.
The growing revolution of autonomous vehicles in the automotive sector is expected wrap-off ample growth opportunities for the machine vision and vision-guided robotics market. A vast fraction of automotive OEMs is making a high investment, in response to the fast-paced evolution in the automotive sector. Machine vision cameras escalate the safety of autonomous cars and also provides crucial assistance to automobiles in identifying and recognizing potential hazards.
Challenges Ahead
Cyberattacks complicate market growth as it is one of the major concerns which limit the adoption of advanced technology. Manufacturers can leverage various benefits with the use of machine learning and vision-guided robots, while they also need to focus on the fundamentals of cyber security. For that, they need to stay updated by downloading and installing the most recent applications while also spreading knowledge about the latest cybersecurity safeguards to the employees.
Impact of the COVID-19 Pandemic
The COVID-19 pandemic brought powerful chaos in almost every industry, impeding import and export. The machine vision and vision-guided robotics market also witnessed the same challenges related to supply chain disruptions, shortages in consumer demand, and labor, which, in turn, led to a sharp decline in the market’s growth graph. Almost every end-user industry of machine vision and vision-guided robotics, such as automotive, electronics, aerospace, metal processing, etc., witnessed a sharp fall in terms of revenue which hampered the growth of the market during the analysis period. However, automation is expected to gain a vital place across every industry as the pandemic highlighted the need to rely more on technology.
Based on Platform, Vision Guided Robots exhibit the highest CAGR
On the basis of the platform, vision-guided robotics is expected to exhibit the highest CAGR of 8.49% during the study period as it benefits users by providing high accuracy and precision in operations.
Based on Type, 2D Type leads with the highest market share
Based on Type, 2D type is expected to leverage the highest market share of 51.8% as these systems are considered highly compatible and suit best with most software packages.
Based on Industry, the Automotive industry to record potential growth in the coming years
The automotive industry is expected to pave the growth path for the machine vision and vision-guided robotics market. The market will register a CAGR of 8.94 % during the forecast period as this technology enhances the safety of autonomous cars. Moreover, the technology is also in use in order to help cars recognize and react to potential hazards.
Based on Region, Asia-Pacific to lead in the Global Machine Vision and Vision Guided Robotics Market
The Asia-Pacific machine vision and vision-guided robotics market is expected to contribute the highest by registering a CAGR of 9.18% during the forecast period. The regional machine vision and vision-guided robotics market stood at US$ 4,846.7 Mn in 2021 and is expected to grow to US$ 10,423.6 Mn by 2030, owing to growing industrial spending and rising deployment of new technology. Furthermore, China, followed by Japan, India, and South Korea, ranks as the largest producers of passenger cars. Governments in the country are fast documenting their initiative to boost the adoption of smart vehicles. For instance, the 11 government departments, including the National Development and Reform Commission (NDRC) and the Ministry of Industry and Information Technology (MIIT), issued documents in February 2020 that seizes the targets and strategies aimed at the development of autonomous driving by 2025. According to the documents, the government is aiming for the gradual launch of new-generation wireless communication networks like 5G-V2X by 2025.
Browse Detailed Summary of Research Report: https://www.astuteanalytica.com/industry-report/machine-vision-and-vision-guided-robotics-market
A glance at the Competitors
Cognex Corporation, a renowned American manufacturer of machine vision systems, software, and sensors, has been maintaining a strong foothold in various economies. The company meets the demands of the customers throughout Americas, Europe, and Asia via its wide network of integration and distribution partners. The firm’s vision systems, software, and sensors are used to inspect and identify parts, check defects, and demonstrate product assembly.
Basler is known for its high-quality cameras and accessories, mainly ideal for applications in factory automation, medicine, traffic, etc. The winner of the “Asia Best Managed Companies Award,” is constantly working on its corporate values and economic development.
ISRA Vision AG, the international provider of robot vision technology, such as high-resolution cameras and fast-switching LEDs, is maintaining a stronghold in over three continents and in more than 25 locations worldwide.
STEMMER Imaging is among the leading international machine vision technology provider, with locations across Europe, Latin America, and Asia. The firm is known for its excellent machine vision solutions, vast knowledge, and superior customer service.
OMRON Industrial Automation Omron Automation develops, sells, and provides services for fully integrated automation solutions. The firm is known for its outstanding sensing, control, safety, vision, motion, and robotics technologies, specifically crafted for the industries like semiconductors, automotive, food, and beverage, electronics, life sciences, etc.
Segmentation Overview of the Global Machine Vision and Vision-Guided Robotics Market
By Component:
Hardware
Software
Services
By Platform:
PC Based
Camera Based
Vision Guided Robots
By Type:
1D
2D
3D
By Application:
Positioning/guidance/location
Identification
Inspection and verification
Gauging/measurement
Soldering and welding
Material Handling
Assembling and disassembling
Painting and dispensing
Others
By Industry:
Automotive
Electrical & electronics
Aerospace & Defense
Food & Beverage
Healthcare & Pharmaceutical
Metal processing
Warehouse & logistics
Retail & E-commerce
Others
By Region
North America
The US
Canada
Mexico
Europe
The UK
Germany
France
Italy
Spain
Poland
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
South Korea
ASEAN
Rest of APAC
South America
Argentina
Brazil
Rest of South America
Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of MEA
Looking For Customization: https://www.astuteanalytica.com/ask-for-customization/machine-vision-and-vision-guided-robotics-market
About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
Aamir Beg
Astute Analytica
+1 888-429-6757
email us here
Visit us on social media:
Twitter
LinkedIn
