Robotic Vision Market by Component, Technology, Application, Industry, and Geography – Global Forecast to 2020
The market for robotic vision is expected to grow from USD 3.10 Billion in 2015 to USD 5.18 Billion in 2020 at a CAGR of 10.8%. The base year considered for study is 2014 and forecast period is from 2015 to 2020. Increasing demand of customization and high industrial growth in the APAC region are the major drivers for the growth of the robotic vision market.
Automotive industry is expected to lead the global robotic vision market. The automotive industry is the early adopter of automated robotic arms for the manufacturing and assembling of vehicle parts. The industry is increasingly using robotic vision for inspection of parts, welding, and material handling. The electrical & electronics industry has emerged as an important sector for robotics vision, after the automotive industry.
Material handling applications is expected to dominate the global robotic vision market. Material handling and packaging & palletizing application account for a large share in the food and beverage industry. It uses robotic vision to reduce labor costs by vision-assisted packaging of food; thereby, ensuring brand quality with label verification. Robotic vision is used in these industries for improved sanitation, correct packaging, and material handling operations due to strict government regulations and increasing public awareness regarding food and beverage safety.
The robotic vision market in APAC is expected to hold the largest share by 2020 due to the major driving forces, such as industrialization, less availability of skilled labors, government initiatives, and demand for safety and accuracy. After Germany and US, China and Japan are expected to be the next emerging industrial hubs.These countries are expected to contribute vision-guided robots market with several new opportunities.
Demand for safety and quality, reliability, and ease of use, cost efficiency, benefits of 3D over 2D technology, rapid deployment, and penetration of smart camera in retrofit robotic systems are major causes of market growth. Conversely, factors inhibiting the market growth are the compatibility issues which are encountered while integrating vision systems to robot and lower penetration of robotics in the dynamic small scale industries. Robotic vision players are also facing challenge in gaining market share in the dynamic low-end market segments while maintaining sustainable profitability.
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– Adept Technology, Inc.
– Cognex Corporation
– Faro Technologies, Inc.
– Gom Gmbh
– Hexagon Ab
– Isra Vision Ag
– Keyence Corporation
– Koh Young Technology
– Matrox Electronic Systems Ltd.
– Mvtec Software Gmbh
– National Instruments Corporation
– Nikon Metrology Nv
– Point Grey Research, Inc.
– Qualcomm Technologies, Inc.
– Sick Ag
– Steinbichler Optotechnik Gmbh
– Teledyne Dalsa
– Tordivel As