Robotic Vision Market Net Worth Is 3.4 Billion by 2028 : Global Latest Technology Updates, Segmentation Analysis, Applications, Demand, and Growth Opportunities

Pune, Maharashtra -- (SBWire) -- 10/11/2022 --Robotic Vision Market Scope & Overview:

Robot vision is the term used to describe a robot's capacity to visually discern its environment and use that knowledge to carry out various activities. Visual input has been widely employed for obstacle avoidance and robot navigation. There are multiple uses for robotic vision across numerous sectors. Robotic vision streamlines the production and packing process by verifying product safety and quality, avoiding the sale of faulty or damaged goods, and tracking the goods. Numerous operations can be made easier or accomplish challenging jobs without putting the operator under stress thanks to robotic vision.

According to the recent research report by SNS Insider, the robotic vision market is projected to reach USD 3.4 billion by 2028, with a higher CAGR of 9.8% over the forecast period of 2022–2028.

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Major key players included in Robotic Vision Market are listed below:

- 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

Drivers, Restraints, Opportunities and Challenges

The robotic vision market has a promising growth potential owing to a number of factors, including increased government efforts that are encouraging industrial automation and increasing customization of robotic vision systems. Governments all over the world are encouraging the implementation of various automation technologies to assist the structural growth of the manufacturing sector. This is anticipated to increase the uptake of industrial robots and, subsequently, robotic vision. The high use of 3D vision systems in industrial robots and the expanding use of smart cameras in robotic vision are credited with driving the market's expansion. The market expansion, however, is being constrained by issues like high initial installation costs and little consumer awareness of robotic vision systems.

Impact of the COVID-19 Pandemic

The global economy as well as all industries have been significantly impacted by COVID-19. To stop its spread, lockdowns have been enforced all around the world. The total lockdown during the early phases of the pandemic adversely impacted many people's livelihoods and quality of life. As a result, supply linkages have been broken down globally. The economies around the world have been adversely impacted by a huge decline in product demand. The pandemic has led to a shortage of essential commodities, primarily as a result of a decline in exports and supply chain disruptions.

Robotic Vision Market Segmentation analysis 2022

In terms of revenue share per component, the robotic vision market was dominated by the Hardware category. It is because a robotics vision system has so many parts, such as illumination, lenses, image sensors, vision processing, and communication.

By application, the robotic vision market's packing and palletizing sector garnered a sizable revenue share. It results from the act of placing an item—like a corrugated box—in a preset order onto a pallet or other comparable piece of machinery.

According to industry, the robotic vision market's electrical & electronics system garnered the greatest sector revenue share. Vision is used to locate electronic components and carry out testing and inspection through non-tactile sensing.

Major Segments and Sub-Segment of Robotic Vision Market are Listed Below:

BY TYPE:
- 2D Vision Systems
- 3D Vision Systems

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

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

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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Regional Analysis

According to estimates, the robotic vision market in Asia-Pacific will grow at a faster rate than any other throughout the anticipated timeframe. Countries like Taiwan and India, which are striving for greater factory automation, are anticipated to be at the forefront of the market growth in the Asia Pacific region.

Manufacturers are being forced to automate in order to maintain their cost advantage due to an increase in labor costs in Asia Pacific. During the projection period, the European area is anticipated to hold the second-largest market share for robotic vision. The various Eastern European nations have seen industrial development, which has expanded the use of vision systems in production. Vision systems are important in Europe, not just for big businesses but also for startups.

Frequently asked questions:

- What is the study period of this market?
- What is the growth rate of Robotic Vision Market?
- Which region has highest growth rate in Robotic Vision Market?
- Which region has largest share in Robotic Vision Market?
- Who are the key players in Robotic Vision Market?

Table of Contents – 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 Profiles

15. Competitive Landscape

16. Conclusion

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