LONDON–(BUSINESS WIRE)–The global vision guided robotics market size is poised to grow by USD 3.24 billion during 2020-2024, progressing at a CAGR of about 10% throughout the forecast period, according to the latest report by Technavio’s Market Research Report. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of the Market Impact of COVID-19.
The global vision guided robotics industry is driven by the increased flexibility in discrete industries. Vision technology allows industrial robots to function more accurately. While 2D vision technology enables robots to view moving objects on the conveyor belt, the 3D vision technology scans objects from three axes and provides a clear picture of objects. This allows vision guided robots to understand the workstation and design of the object, which further allows them to handle the objects in a row and symmetry. This contributes to better quality and precision of work in discrete industries. Such features also enable robots to deal with different objects with larger flexibility.
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Report Highlights
- The major vision guided robotics market growth came from the 2D-vision system. However, the 3D-vision system is expected to witness the fastest growth during the next five years.
- North America was the largest vision guided robotics market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to factors such as the advances in vision technology and improvements in image quality.
- The global vision guided robotics market is fragmented. ABB Ltd., Cognex Corp., FANUC Corp., Kawasaki Heavy Industries Ltd., KUKA AG, OMRON Corp., Pro Mach Inc., SICK AG, Teradyne Inc., and Yaskawa Electric Corp. are some of the major market participants. To help clients improve their market position, this vision guided robotics market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the Global Vision Guided Robotics Market 2020-2024 is expected to have Neutral and Inferior growth. As businesses slowly recover from the global pandemic, we revaluate the impact on businesses, recovery analysis, and update our report forecasts.
Read the full report here: www.technavio.com/report/vision-guided-robotics-market-industry-analysis
Decline in Electronic Component Prices will be a Key Market Trend
The availability of electronic robotic components is the most important market drivers leading to new product developments. With new research in industrial applications, there has been a decline in the price of electronic components like sensors and cameras. Advancement in technologies related to the production of smart sensors and cameras has been witnessed. Incorporation of these components in industrial robots has allowed them to view the objects more precisely and accurately. Moreover, the introduction of improved cameras and sensors led to the incorporation of a single component functioning as a vision system. This has dramatically decreased the operational cost of vision guided industrial robots.
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Vision Guided Robotics Market 2020-2024 : Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist vision guided robotics market growth during the next five years
- Estimation of the vision guided robotics market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the vision guided robotics market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of vision guided robotics market vendors
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Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five forces analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Logistics – Market size and forecast 2019-2024
- Welding – Market size and forecast 2019-2024
- Inspection and cleaning – Market size and forecast 2019-2024
- Painting – Market size and forecast 2019-2024
- Market opportunity by Application
Market Segmentation by Type
- Market segments
- Comparison by Type
- 2D-vision system – Market size and forecast 2019-2024
- 3D-vision system – Market size and forecast 2019-2024
- Market opportunity by Type
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Vision Guided Robotics Market drivers
- Vision Guided Robotics Market challenges
- Vision Guided Robotics Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
- Competitive scenario
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- ABB Ltd.
- Cognex Corp.
- FANUC Corp.
- Kawasaki Heavy Industries Ltd.
- KUKA AG
- OMRON Corp.
- Pro Mach Inc.
- SICK AG
- Teradyne Inc.
- Yaskawa Electric Corp.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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