Robotic Vision Market Size, Share Growth Report 2031

(MENAFN- Straits Research) Introduction

Robotic vision refers to the ability of robots and automated systems to sense and interpret visual information from their environment. It enables robots to observe, comprehend, and act on visual data using cameras, sensors, and software. The global robotic vision market represents manufacturing, healthcare, logistics, agriculture, and other industries.

The robotic vision market share will likely grow significantly in the coming years because of technological advancements and the rising demand for automation across many industries. Robotic vision integrates cameras and sensors with robots, allowing them to perceive their surroundings and make intelligent decisions. Robots can now do more complex tasks such as object recognition, navigation, and quality control. The market is expected to be driven by the rising use of collaborative robots (cobots) in manufacturing industries, which assist human workers in repetitive and hazardous tasks.

Market Dynamics

Industrial Automation and Industry 4.0 Drives the Global Market

Industrial automation uses robotic vision systems and other technology to automate manufacturing and production. Industry 4.0, the Fourth Industrial Revolution, integrates digital technology, automation, and data exchange in manufacturing. Industry 4.0 relies on robotic vision to make production smart, networked, and efficient. Manufacturing facilities are building smart factories with robotic vision systems. These facilities optimize production through sensors, robotics, and data analytics. Vision system robots can perform quality inspection, material handling, and assembly precisely and consistently.

The International Federation of Robotics (IFR) predicts a 10% CAGR for industrial robot sales between 2022 and 2025. A PwC analysis found that Industry 4.0 technology, like robotic vision, might enhance global GDP by 14% and productivity by 15% by 2025. The robotic vision market trend will help transform traditional production into efficient, data-driven, and agile operations as more sectors adopt these technologies.

Diverse Industry Application Creates Tremendous Opportunities

Flexible and crucial, robotic vision systems have many uses in diverse industries. Robotic vision systems can be tailored to each industry's demands and difficulties to boost adoption and effectiveness. Healthcare applications include robotic surgery, diagnostic imaging, and telemedicine using robotic vision. For instance, the da Vinci Surgical System uses robotic vision for precise minimally invasive procedures. Diagnostic tools like MRI and CT scanners use advanced vision systems to take comprehensive body images.

Modern agriculture relies on robotic vision to monitor crop health, identify pests and diseases, and optimize resource use. Vision-equipped agricultural drones acquire aerial imagery for crop analysis and precision farming. Robotic vision's ability to solve industry-specific problems and increase production, quality, and safety makes it important in many industries. As sectors explore and use robotic vision, the market's growth potential remains high.

Regional Insights

North America is a pioneering inventor and market leader. Market growth is driven by robotics deployment across several sectors. By the end of the year, the International Federation of Robotics expects 69,000 North American industrial robot deployments. Advancing Automation reported a 28% rise in robot sales last year. As more industries turned to automation to enhance productivity and address chronic labor shortages, fourth-quarter robot sales were recorded (up 9% from the previous year), indicating the momentum gained in recent months.

In addition, industrial automation relies on varied robots that perform vital tasks across industries. E-commerce, automotive, and other industries are expanding economically in several of the region's countries. Due to rising demand across economies, product creators are progressively automating boring tasks with robots. The Advanced Manufacturing Partnership, which encourages firms, universities, and the federal government to invest in future automation technologies, would lead to more machine vision system manufacturing. According to MAPI (Manufacturers Alliance for Productivity and Innovation), US industrial production is expected to rise 2.8% over the previous year, increasing robotic vis.

Asia-Pacific is anticipated to have the highest CAGR. This regional market is developing due to the increasing use of machine vision systems to scan and analyze industrial commodities and the requirement for updated inspection systems to produce high-quality, zero-defect goods. Increased government efforts in India, Singapore, and South Korea to stimulate manufacturing FDI boost the Asia-Pacific market.

Furthermore, Asia will deploy 74% of robots in 2021 (70% in 2020). China, the region's largest adopter, sold 268,195 devices, up 51%. Here went every 2021 robot installed worldwide. The operational stock topped one million (+27%). This rapid rise reflects China's rapid robotization. As technology progresses and automation and efficiency increase, the APAC robotic vision market will grow and innovate. Regional companies are investing in R&D to provide specialized solutions for various areas, expanding the market.

Key Highlights

• The global robotic vision market size was valued at USD billion in 2022 and is projected to reach USD billion by 2031, registering a CAGR of 9.5% during the forecast period 2023-2031.
• Healthcare, security services, and the automobile sector are all subcategories of service. Healthcare services accounted for the lion's share of the market.
• The section can be further subdivided by technology into 3D sensors, autonomous robotic systems, actuators, and cameras. 3D sensors impacted the market growth.
• Depending on the region, the market is analyzed in North America, Asia-Pacific, Europe, and LAMEA. North America is the most significant global cosmetic dyes market shareholder and is estimated to grow at a CAGR of 4% over the forecast period.

Competitive Players

Competitive Landscape

The key players in the global Robotic Vision Market are Google, Dassault Aviation, KUKA, Cisco, Alphabet, Microsoft, Intel, IBM, Apple, Bosch, and Panasonic.

Recent Developments

Market News

• In July 2023, Google's first vision-language-action model for robot control demonstrated increased generalization, semantic and visual knowledge, and understanding. The RT-2, or Robotic Transformer 2 model, is intended to learn from robotics and internet data to provide universal robotic control instructions.
• In August 2023, Dassault's Falcon 6X received EASA and FAA certification.
• In September 2023, Cisco will invest in Splunk to assist enterprises in being more secure and resilient in an AI-powered environment.

Segmentation

Global Robotic Vision Market: Segmentation By Service

• Healthcare
• Security Service
• Automobile Sector

By Technology

• 3D sensors
• Autonomous Robotic System
• Actuators
• Cameras

By Region

• North America
• Asia-Pacific
• Europe
• The Middle East and Africa
• Latin America

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