The global vision-guided robots market is projected to secure a CAGR of 7.8% during the forecast period and attain a value of USD 27,238.3 million by 2032. The current valuation of the market stands at USD 12,810.0 million in 2022.
The demand for vision-guided robots is rising due to increased flexibility in discrete sectors and new product development. The vision-guided robots operate freely and increase the efficiency of production, and are therefore being adopted on a large scale, which is contributing to the market growth of vision-guided robots.
| Report Attribute | Details |
|---|---|
| Vision Guided Robots Market Value (2022) | USD 12,810.0 Million |
| Vision Guided Robots Market Anticipated Value (2032) | USD 27,238.3 Million |
| Vision Guided Robots Projected Growth Rate (2022 to 2032) | 7.8% |
The vision-guided robots are robots equipped with cameras for evaluating and interpreting images and sending more accurate secondary data signals to the controller than robots equipped with other sensory equipment for similar tasks.
The dynamics for vision-guided autonomous mobile robots enhance the quality by reducing human errors and waste of resources. It is projected that vision-guided robot applications are transforming the production processes by enabling a reduction of the complexities and costs of fixed tooling connected with the design and setup of robots.
Therefore, it is anticipated that the vision-guided robots market is likely to have significant growth during the forecast period.
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Need for Automation and Rising Labor Costs:
The need for automation and rising labor costs are estimated to be the prime drivers in the global vision-guided robots market. The use of robots has multiplied significantly with automation. The robots are deployed to meet the specifications in diverse applications, impacting the growth of market size for vision-guided robots.
Rapid Advancement in Industrial Sector:
There is rapid expansion in the manufacturing industry, which is likely to drive the market in the coming years. Increasing industrial advancement in emerging market economies and the intensified commodity prices on the global market is fueling the embracement of vision-guided robots.
To maintain an edge with the customers, vision-guided robots for sale are gaining a competitive advantage, the manufacturing industry is expected to embrace the advances in technology.
Rising Labor Safety Standards:
The key players in the market are also concerned about labor safety standards. These safety standards are becoming more stringent, and robots are being employed in hazardous environments, replacing humans. The vision-guided robots are deployed in situations that are unsafe and dangerous like working in rough terrains, handling hazardous substances, and more.
Therefore, vision-guided robots enable organizations to avoid risk and reduce the number of work accidents. This factor is largely leading to higher adoption of robotics solutions in the global vision-guided robots industry.
Rising Number of SMEs:
SMEs are using vision-guided robots for efficient and better functioning of processes in an organization. Manufacturers in the market are developing specialized low-cost and energy-efficient robots, which are likely to enhance the adoption of vision-guided robots during the forecast period and drive the expansion of the market.
Although a large number of factors are fueling the market growth of vision-guided robots, it is identified that there are also a certain number of factors that are likely to curb the growth of the vision-guided robots market in the coming years.
| Rising Rate of Automation | The advancement of the North American market can be attributed to the rising rate of automation adoption in the industrial sectors. |
|---|---|
| Increased Setup of SMEs | The setting up of SMEs in large numbers, who are collectively creating opportunities for the vision-guided robots market. |
It is projected that North America is going to have significant growth during the forecast period. Currently, the North American regions are cumulatively holding 10.0% of the total market share for vision-guided robots.
| Rising Awareness About Labor Safety | A large number of organizations are deploying vision-guided robots for the manufacturing processes |
|---|---|
| Increased Production Capability | The growth can be attributed to the increased capability of the oil & gas industry, which requires precision and safety. |
It is projected that Europe is likely to dominate the global market of vision-guided robots. At present, the European region is accountable for 17.5% of the total market share for vision-guided robots. The stringent regulations associated with labor safety are driving the growth of the vision-guided robots market in Europe.
How are the Start-up Companies Revolutionizing the Vision Guided Robots Market?
The start-up ecosystem in the vision-guided robots market is intense with frequent innovations being made. Start-ups in the virtual vision-guided robots market are focusing on multiple additional features for deployment to further bolster the adoption of this technology.
USA-based start-up Soft Gripping - Universal Grippers are designing universal gripping robots that have a modular customizable structure and can handle objects of different sizes, dimensions, and forms. Their grippers can be programmed for multi-actor work scenarios and are easy to install and integrate into existing operations.
Israeli start-up Deep Learning Robotics develops a vision-based robotic controller that gives robots the possibility to observe humans in action and learn to take over the tasks performed, which is the next step compared to regular learning mechanisms used before.
Belgian start-up company Pick-It 3D designs turnkey vision-guided robots that employ machine vision to perform various industrial tasks such as sorting, machine loading, pallet unloading, and more. A robot employs a 3D camera and custom-designed software algorithms to detect the location, size, and dimensions of a product in order to guide the robotic gripper.
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Top Recent Developments Shaping Up the Vision-Guided Robots Market
Manufacturers are ready to outperform their competitors by incorporating new technologies into the robots to improve their performance while doing a certain number of tasks for the diverse industry verticals.
Some of the other key players in the vision-guided robots market are:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 7.8% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Component, Type, Industry Vertical, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa |
| Key Countries Profiled | United States of America, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASIAN, GCC Countries, South Africa |
| Key Companies Profiled | ABB Ltd.; Basler AG; Cognex; Denso Corporation; Fanuc Corporation; ISRA Vision; Omron Corporation; Pleora Technologies Inc.; Universal Robots AS; Yaskawa Electric Corporation. |
| Customization | Available Upon Request |
The growth outlook for the vision-guided robots market is predicted to advance at a CAGR of 7.8% from 2022 to 2032.
The European region is anticipated to lead the vision-guided robots market during the forecast period.
The vision-guided robots market is likely to hold a valuation of USD 27,238.3 million by 2032.
The automotive sector is the key end user in the vision-guided robots market.
| Estimated Market Size (2023) | USD 4.5 billion |
|---|---|
| Projected Market Size (2033) | USD 11 billion |
| CAGR (2023 to 2033) | 9.3% |
| Expected Market Value in 2023 | USD 3 Billion |
|---|---|
| Projected Market Value in 2033 | USD 13 Billion |
| CAGR (2023 to 2033) | 15.8% |
| Market Value (2023) | USD 39 billion |
|---|---|
| Market Forecast Value (2033) | USD 220 billion |
| Market CAGR (2023 to 2033) | 18.9% |
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