The global vision guided robotics market size is estimated to grow by USD 5.76 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 12.14% during the forecast period. Decline in electronic component prices is driving market growth, with a trend towards 3d-multi imaging and image scanning. However, battery life poses a challenge.
Key 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..
This market encompasses robots equipped with cameras and sensors, utilizing advanced vision systems for pathfinding and object identification. Industrial trends drive the shift towards more independent robots, with the evolution from 2D to 3D vision systems. Vision Guided Robotics systems enhance production efficiency and ensure product quality by accurately identifying objects, even those randomly placed. Flexible robots, powered by advanced controllers, are increasingly adopted across various industries, including Automobile, Electrical & electronics, Healthcare & pharmaceutical, Aerospace & defense, Food & beverage, due to the need for automation, rising labor costs, labor safety concerns, and the ability to operate in hazardous environments and rough terrains. The technology's flexibility, components, and hardware & software solutions contribute to cost savings, reduced complexity, and the elimination of customized tooling and setup processes. However, the market faces challenges such as rising energy costs and operational expenditure.
Vision guided robotics are a significant advancement in industrial automation, reducing operational costs, enhancing work efficiency, and ensuring higher precision in various industry verticals, including automobile, electrical & electronics, healthcare & pharmaceutical, aerospace & defense, food & beverage, and more. These robots, which are mostly battery-powered, offer flexibility and autonomy, making them ideal for warehousing and logistics. However, the need for longer battery life to support increased flexibility and diverse applications remains a challenge. This market trend is driven by rising labor costs, labor safety concerns, and the need for automation in hazardous environments and rough terrains. Additionally, customized robots are increasingly being adopted to address specific industry needs. Despite the rising energy costs and operational expenditure, investment pockets exist in this market due to the benefits offered.
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