Robotic vision is used in industries for improving quality, correct packaging, and material handling operations because of strict government regulations and growing awareness regarding food & beverage safety, thus ensuring better quality and safety, preventing defective products from entering the supply chain, and facilitating product traceability. This technology is being adopted by many companies due to the numerous advantages over traditional methods such as improved product quality, more manufacturing flexibility, and higher throughput. The global robotic vision market is predicted to grow at a rapid pace due to the increasing need for robotic vision in various industries like automotive, packaging, and aerospace among others.
Market Drivers & Restraints
The global robotic vision market is growing significantly mainly due to the following factors:
- Cost efficiency
- Benefits of 3D over 2D technology
- Growing demand for safety, quality, reliability, and ease of use
- Penetration of smart camera in retrofit robotic systems
However, the issues related to compatibility while integrating vision systems to robot and lower penetration of robotics in the dynamic small scale industries are the major factors that may act as deterrents for the growth of this market. Moreover, the players involved in this market are facing challenges like gaining market share in the dynamic low-end market segments while maintaining sustainable profitability.
Market Predictions
Projected to grow at a CAGR of 10.8% during the forecast period, the worldwide robotic vision market which was valued at USD 3.10 Billion in 2015 is expected reach USD 5.18 Billion by the end of 2020. Among regions, Asia-Pacific is expected to hold the largest market share during the forecast period, owing to industrialization, lack of skilled labor, government initiatives, and rising demand for safety and accuracy. Based on countries, China and Japan are expected to be the emerging markets after Germany and the U.S.
Based on industry, the market for robotic vision in automotive industry is expected to be the largest, followed by electrical & electronics industry over the forecast period. On the basis of application, material handling and packaging & palletizing segments hold the largest market share, with material handling segment dominating the market.
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Research Scope
The global market for robotic vision has been studied and forecast on the basis of following segmentation:
- Component: Camera, Smart Camera, Lighting, Optics, Frame Grabber, Computer, Software, Others
- Detection Algorithm: Contour based, Correlation based, Feature Extraction, Cloud of Points, Company’s own development tools, Others
- Technology: 2D, 3D
- Industry: Automotive, Packaging, Aerospace, Food Processing, Metal Processing, Electrical & Electronics
- Application: Welding, Material Handling, Packaging & Palletizing, Painting, Assembling & Disassembling, Cutting, Grinding, & Deburring, Measurement, Inspection, & Testing, Others
- Geography: North America, South America, Europe, Asia-Pacific, RoW
The major players operating in the global market for robotic vision comprise Adept Technology, Inc., Cognex Corporation, Teledyne Dalsa, Keyence Corporation, Qualcomm Technologies, Inc., Point Grey Research, Inc., Tordivel As, Matrox Electronics Systems Ltd, ISRA Vision AG, MVTEC Software GmBH, Sick AG, National Instruments Corporation, Hexagon AB, Faro Technologies, Inc., Nikon Metrology NV, GOM GmBH, Steinbichler Optotechnik GmBH, and Koh Young Technology
