Technavio predicts that the vision-guided robotics market will grow by $5.76 billion from 2024 to 2028, driven by falling prices of electronic components

New York, June 19, 2024 /PRNewswire/ — Global vision-guided robotics market expected to grow $5.76 billion According to Technavio, the market will maintain high growth from 2024 to 2028. The market is expected to grow at a compound annual growth rate of about 12.14% during the forecast period. The decline in the prices of electronic components has driven the market growth, and 3D multi-imaging and image scanning have become a trend. However, battery life is a challenge. Major market players include ABB Ltd., Acieta LLC, Atlas Copco AB, Basler AG, Cognex Corp., Cross Co., DENSO Corp., FANUC Corp., GECKO ROBOTICS INC., General Electric Co., Invert Robotics Group Ltd., IPG Photonics Corp., Keyence Corp., OMRON Corp., Pleora Technologies Inc., Previan Technologies Inc., Qualitas Technologies Pvt. Ltd., Robotic Automation Systems, Teradyne Inc., and Yaskawa Electric Corp.

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Market drivers

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Vision-guided Robotics Market: This market includes robots equipped with cameras and sensors that utilize advanced vision systems for pathfinding and object recognition. Industrial trends are driving robots toward more independence, evolving from 2D to 3D vision systems. Vision-guided robotic systems improve production efficiency and ensure product quality by accurately identifying objects, even those that are randomly placed. Flexible robots driven by advanced controllers are increasingly being adopted by various industries, including automotive, electrical and electronics, healthcare and pharmaceuticals, aerospace and defense, and food and beverage, due to the demand for automation, rising labor costs, labor safety issues, and the ability to operate in hazardous environments and rugged terrain. The technology’s flexibility, components, and hardware and software solutions help save costs, reduce complexity, and eliminate custom tooling and setup processes. However, the market faces challenges such as rising energy costs and operating expenses.

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Market Challenges

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• Vision-guided robots are a major advancement in industrial automation, reducing operating costs, improving work efficiency, and ensuring higher precision across various verticals such as automotive, electrical and electronics, healthcare and pharmaceuticals, aerospace and defense, and food and beverage. Most of these robots are battery-powered, flexible, and autonomous, making them ideal for warehousing and logistics. However, the need for longer battery life to support higher flexibility and diverse applications remains a challenge. This market trend is driven by rising labor costs, labor safety concerns, and the need to automate in hazardous environments and rugged terrains. In addition, customized robots are increasingly being adopted to meet the needs of specific industries. Despite rising energy costs and operating expenses, there is still room for investment in this market due to the benefits it provides.

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Segment Overview

This Vision Guided Robotics Market report broadly covers the following market segments:

1. application

• 1.1 Logistics
• 1.2 Welding
• 1.3 Inspection and cleaning
• 1.4 Painting

• 2.1 2D Vision
• 2.2 3D Vision

• 3.1 Asia Pacific
• 3.2 North America
• 3.3 Europe
• 3.4 middle East and Africa
• 3.5 South America

1.1 Logistics Rising costs and energy consumption in different industries such as food and beverage, warehouses and logistics have necessitated increased investments in advanced technologies to improve production efficiency and reduce human errors. The vision-guided robotics (VGR) market has emerged as a promising solution that integrates cameras, sensors, feedback indicators and robot controllers to enable robots to identify target locations and navigate complex production processes. VGR systems utilize vision-guided robotics technology to enable flexible robots to understand the shape, size and position of objects, thereby minimizing resource waste and improving quality. Hardware components such as cameras, actuators and software solutions integrated into VGR systems have brought significant benefits to various verticals including automotive manufacturing by streamlining production processes and reducing the need for fixed tools and design setups. Despite the high initial cost and complexity, the long-term benefits of VGR systems make them a valuable investment for industries seeking to optimize production processes and minimize human intervention.

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Research and analysis

In the field of robotics, vision-guided robots (VGR) have become a significant trend that has revolutionized industrial automation. VGR systems integrate advanced cameras and sensors that enable robots to accurately identify and navigate to target locations. Feedback indications and robot controllers ensure seamless operation. VGRs are widely used in various vertical industries, including automotive, electrical and electronics, healthcare and pharmaceuticals, aerospace and defense, etc. Robots equipped with VGR technology solve labor safety issues, can operate in hazardous environments, and traverse rough terrains. However, rising costs, especially energy costs, make it necessary to optimize resources and utilize efficient software solutions.

Market Research Overview

The vision-guided robotics market refers to the use of computer vision technology in robotic systems to enhance their capabilities and improve precision across various industries. These robots utilize cameras and artificial BroadCast Unitedligence algorithms to identify objects, navigate environments, and perform tasks autonomously. The vision-guided robotics market is growing rapidly due to the growing demand for automation and the need for higher productivity in manufacturing, logistics, and other industries. The technology offers benefits such as flexibility, improved accuracy, and reduced human intervention, making it an essential component of modern industrial processes. Applications for vision-guided robots include pick and place operations, assembly, inspection, and quality control. The future of this market is promising, with advancements in artificial BroadCast Unitedligence and machine learning expected to drive further innovation and growth.

Table of contents:

1. Executive Summary
2 Market Structure
3. Market size
4 Historical Market Size
5 Five Forces Analysis
6. Market Segmentation

• application
• logistics
• welding
• Inspection and cleaning
• painting
• type
• geography
• Asia-Pacific
• North America
• Europe
• Middle East and Africa
• South America

7 Customer Profile
8 Geographical landscape
9 Drivers, Challenges and Trends
10 Company Overview
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions.

Technavio has more than 500 professional analysts and its report library consists of more than 17,000 reports covering 800 technologies in 50 countries. Its client base includes enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive position in changing market scenarios.

Contact information

Technavio Research
Jesse Maida
Media and Marketing Executive
USA: +1 844 364 1100
UK: +44 203 893 3200
e-mail: (email protected)
website: www.technavio.com/

Source: Technavio