Global Robotic Vision market share 2024, Forecast To 2033
4 Mar, 2024
The robotic vision market size has experienced rapid growth, ascending from$2.34 billion in 2023 to$2.58 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The historic surge is credited to increased processing power, the expansion of industrial automation, growth in e-commerce and warehousing, demand for quality inspection in manufacturing, and cost reduction in vision components. Looking ahead, the market is poised for strong growth, reaching$3.7 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. Predicted growth in the forecast period is attributed to the expansion of autonomous vehicles, deployment in smart cities, application in hazardous environments, customization for small and medium-sized enterprises, increased adoption in logistics and supply chain. Major trends expected include integration with AI and machine learning, advancements in 3D vision technology, collaborative robots (cobots), edge computing for real-time processing, robotics as a service (RaaS) models, enhanced object recognition and tracking, IoT integration for connectivity, and cybersecurity for robotic systems.
Global Robotic Vision Market Key Driver
The robotic vision market is experiencing growth propelled by the surging demand for smart cameras in various applications, particularly in factory settings. Smart cameras, offering modular standalone robotic vision solutions, are becoming increasingly popular globally. With nearly 98.8 million households worldwide using smart home camera systems, a number expected to double by 2027, according to DataProt, the adoption of smart cameras in robotic vision applications is on the rise. This surge in demand for smart cameras is driving the growth of the robotic vision market, particularly in industries requiring advanced vision systems for automation and quality control purposes.
Get A Free Sample Of The Global Robotic Vision Market ReportGlobal Robotic Vision Market Segments
The global robotic vision market covered in this report is segmented –
1) By Component: Hardware, Software
2) By Technology: 2D Vision, 3D Vision
3) By Industry: Electrical and Electronics, Metals and Machinery, Precision Engineering and Optics, Automotive, Pharmaceuticals and Cosmetics, Food and Beverages, Chemical, Rubber, and Plastic, Other Industries
By Geography: The regions covered in the robotic vision market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Asia-Pacific was the largest region in the robotic vision market share in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the robotic vision market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Robotic Vision Industry Players
Cognex Corporation, Omron Corporation, Keyence Corporation, Teledyne DALSA, Tordivel AS, ISRA VISION AG, Basler AG, SICK AG, Hexagon AB, Yaskawa Electric Corporation, Fanuc America Corporation, ABB Ltd., Google LLC, MVTEC Software GmbH, Kawasaki Heavy Industries Ltd., Acieta LLC, Nikon Metrology NV, KUKA AG, Cisco Systems Inc., Robert Bosch, Microsoft Corporation, Intel Corporation, National Instruments Corporation, Qualcomm Technologies Inc., DENSO Corporation, Mitsubishi Electric Corporation, Universal Robots A/S, Nachi Fujikoshi Corp., Stäubli International AG, Yamaha Robotics, Toshiba Machine Co. Ltd., Adept Technology Inc., Scape Technologies A/S, Blue River Technology Inc., Sight Machine Inc.
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Robotic Vision Market Overview
Robotic vision enables a robot to see, which includes a number of calibrated algorithms, calibration, and even temperature detection sensors, all of which have different levels of complexity and use.
Robotic Vision Global Market Report 2023 provides data on the global robotic vision market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The robotic vision market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.