Report Segment | Technology | Report ID – TGRI5593
Machine Vision and Vision-Guided Robotics Market Overview:
The market for Machine Vision and Vision-Guided Robotics was valued at XX Bn USD in the year 2023 and expected to reach XX Bn by the year 2030. The CAGR for the market is XX% during the period 2024 -2030.
Machine vision is a multidisciplinary field that combines optics, imaging, computer science, and artificial intelligence to enable machines to interpret and analyse visual data from the environment. This technology involves the use of cameras, sensors, and sophisticated algorithms to capture images and extract meaningful information, such as identifying defects in manufactured products, measuring dimensions, or recognizing patterns.
Vision-guided robotics takes this a step further by integrating machine vision capabilities into robotic systems, allowing them to navigate, manipulate objects, and interact with their surroundings based on visual input. By employing techniques like image recognition, depth perception, and real-time processing, vision-guided robots can adapt to changing conditions, enhance precision in tasks such as assembly or sorting, and perform complex operations that require a high level of autonomy and accuracy.
This synergy between machine vision and robotics is pivotal in industries like manufacturing, logistics, and healthcare, where efficiency and precision are paramount.
Machine Vision and Vision-Guided Robotics Market Growth Indicators:
Increasing Demand for Automation Across Industries
The market for machine vision and vision-guided robotics is expanding due in large part to the growing need for automation across a range of industries. Businesses are increasingly using automation technology in an effort to maintain competitive advantages, lower manufacturing costs, and improve operational efficiency. This change is most noticeable in the manufacturing industry, where automated devices can quickly and precisely complete repetitive jobs, reducing human error and boosting productivity. Vision-guided robots that can navigate and handle things on their own have been used in logistics and warehousing due to the necessity for speedy sorting, packaging, and inventory management. Additionally, machine vision is being used for quality control and inspection in sectors including electronics, pharmaceuticals, and food processing to make sure that goods fulfil strict safety and quality requirements.
Machine Vision and Vision-Guided Robotics Market Report Segments Overview:
Product Segment Overview
By Product, it is segmented into PC-based Machine Vision Systems, Smart Camera-Based Machine Vision systems and Vision Guided Robotics. Smart camera-based machine vision systems are the fastest growing. Because of their cost-effectiveness, ease of integration, and compact design, they are becoming increasingly popular for a variety of applications, particularly in small to mid-sized production settings. Smart cameras enable real-time analysis and decision-making without significantly depending on external processing units by combining onboard intelligence with image processing capabilities. In sectors where space is scarce and fast reaction times are essential, this feature is especially helpful. Smart camera systems are also being adopted by more businesses for tasks like object recognition, sorting, and quality inspection as a result of the growing trend toward automation and the demand for increased operational efficiency.
Offering Segment Overview
By Offering, it is segmented into Hardware, software and services. Hardware is further divided into Camera, Frame Grabber, Optics/Lenses, LED Lighting and Processor, Software is further divided into Barcode Reading, Standard Algorithm and Deep Learning Software, Services is further divided into Integration and Solution Management. In the machine vision industry, software is the segment with the quickest rate of growth. This expansion can be ascribed to the growing need for advanced automation and analytics tools that improve operational effectiveness in a variety of sectors. In particular, there is a growing demand for software solutions that integrate deep learning algorithms and artificial intelligence since they facilitate sophisticated image processing, real-time data analysis, and enhanced decision-making in applications such as process optimization, quality inspection, and defect detection. Additionally, this trend is being driven by the move to Industry 4.0 and smart manufacturing, as businesses seek to incorporate more sophisticated technology into their operations. Furthermore, software offers more scalability and flexibility than hardware, which helps businesses take advantage of new technologies and adjust to changing demands.
Type Segment Overview
By Type, it is segmented into 1D Vision System, 2D Vision System, Area Scan, Line Scan and 3D Vision System. The 3D vision system is the type segment that is expanding the fastest. This expansion arises from the growing need for 3D systems’ more precise and detailed imaging capabilities, particularly in intricate applications like robotics, automated inspection, and quality control. For tasks like object detection, sorting, and dimensional measurement, 3D vision systems provide improved spatial awareness and depth perception, which are essential as companies look to increase automation and production precision. 3D vision systems are also becoming more affordable and accessible due to improvements in sensor technology, which is accelerating their adoption in a variety of industries.
Application Segment Overview
By Application, it is segmented into Quality Assurance & Inspection, Positioning & Guidance, Measurement, Identification and Others. The quality assurance and inspection applications category is the one with the fastest rate of growth. The growing focus on product quality and safety across a range of industries, including electronics, food and beverage, and automotive, is what is driving this expansion. Advanced machine vision systems are being used by businesses to automate inspection procedures, guaranteeing that goods fulfil strict quality requirements and lowering the possibility of flaws. Additionally, companies are being pushed to adopt real-time monitoring and inspection systems that improve operational efficiency and reduce waste as a result of Industry 4.0 and smart manufacturing programs. The demand for strong quality assurance solutions is anticipated to keep growing as regulatory standards get stricter, which will further propel this market’s expansion.
End-use Industry Segment Overview
By End-use Industry, it is segmented into Industrial and Non-Industrial. The non-industrial sector of the end-use industries, which are divided into industrial and non-industrial categories, is expanding at the quickest rate. The growing use of machine vision technologies in industries like healthcare, retail, and logistics is primarily responsible for this increase. Machine vision systems are being used in the healthcare industry for automated diagnostics and medical imaging. These technologies are being used by the retail industry for inventory control and improvements to the consumer experience, such as automated checkout. Additionally, machine vision is being adopted by the logistics sector for automated commodities tracking and sorting. This market is growing significantly as these non-industrial applications keep growing due to technological improvements and the demand for increased accuracy and efficiency.
Machine Vision and Vision-Guided Robotics Market Regional Outlook:
Fastest Growing Region: Asia Pacific
The fastest-growing region in the machine vision and vision-guided robotics market is Asia-Pacific, particularly driven by countries like China and India. This growth can be attributed to rapid industrialization, increasing investments in automation, and a booming manufacturing sector that demands enhanced quality control and efficiency. The rise of smart factories and the Internet of Things (IoT) also contribute to the demand for advanced machine vision systems, as companies seek to improve operational productivity and reduce costs. Furthermore, government initiatives promoting automation and technological advancements in robotics play a crucial role in accelerating market growth in this region.
Machine Vision and Vision-Guided Robotics Market Players Mapping:
Recent Activity by companies in Machine Vision and Vision-Guided Robotics Market
In July, 2023, they launched a new version of their Cognex VisionPro software, which incorporates advanced AI capabilities to enhance real-time image analysis and inspection processes across various industries. This upgrade aims to improve accuracy and efficiency in manufacturing environments. Additionally, In September 2023, Cognex showcased its latest vision-guided robotics systems at the Automate 2023 trade show, emphasising their solutions for collaborative robots (cobots) that enhance automation in logistics and manufacturing.
Machine Vision and Vision-Guided Robotics Market Coverage:
By Product
By Offering
By Type
By Application
By End-Use Industry
By Region:
Machine Vision and Vision-Guided Robotics Market Report Outlook
Machine Vision and Vision-Guided Robotics Market Coverage | 2019- 2030 |
Fastest Growing Region | Asia Pacific |
Machine Vision and Vision-Guided Robotics Market Forecast | 2024 – 2030 |
Historical Data | 2019 – 2022 |
Base Year | 2023 |
Competition Benchmarking | 10 + Key Players Mapping |
Report Format | PDF + Excel |
List of Tables:
List of Figures:
Data Collection and Research:
As a market research and consulting firm with extenstive experience, we have published numerous reports and provided strategic guidance to clients worldwide. Our research process begins with a thorough evaluation of existing data and insights from previously published reports. We gather historical and current market information from sources such as investor presentations, annual reports, SEC filings, and company performance data, leveraging paid databases. Additionally, we consult a variety of publicly available publications for further context.
To obtain both technical and market-specific insights, we engage with industry associations, trade organizations, technical forums, and research institutes. Their publications, including research papers, blogs, and press releases, offer valuable market cues. Moreover, we meticulously analyze white papers, journals, magazines, and news articles published in the last four years to identify and interpret the latest market trends.
Research Compilation and Data Sourcing
The primary interview analysis is based on data gathered from interviews with industry participants and responses to survey questions collected by our in-house research team.
For primary research, we engage with industry professionals such as CEOs, Marketing and Sales Managers, VPs, and Subject Matter Experts from both the demand and supply sides to gain a comprehensive understanding of the market. Our primary research team conducts multiple interviews, tailored to the complexity of each market, to capture key trends and dynamics, ensuring the research is both reliable and accurate.
Research interview are leverage for following key parameters:
Primary research is conducted through email communications and telephone interviews, targeting each market, category, segment, and sub-segment across various regions. The participants in this process typically include, but are not limited to:
Industry professionals: VPs, business development managers, market intelligence managers, and national sales managers.
External experts: Valuation specialists, research analysts, and key opinion leaders with expertise in the sepcific market sectors.
Primary respondents breakup:
Upon receiving confirmation from primary research sources or respondents, we finalize the base year market estimates and proceed to forecast data. This is done by incorporating the macroeconomic and microeconomic factors evaluated during the data collection phase.
Data Analysis:
After validating the data through secondary and primary sources, we refine the market estimations by developing hypotheses and performing factor analysis at both regional and national levels.
3.1 Macro-Economic Factor Analysis:
We assess macroeconomic indicators such as Gross Domestic Product (GDP), changes in demand across industries, technological advancements, regional economic growth, government policies, the impact of COVID-19, and PEST analysis. This evaluation helps establish benchmarks for different nations and regions and approximates market segments. Additionally, the general trends in these factors assist in identifying potential market growth opportunities.
3.2 Country Level Data:
To determine the market size for specific regions and countries, we consider various country-specific factors. These include the presence of vendors (headquarters and offices), the country’s GDP, demand patterns, and industry growth. We examine growth drivers, inhibitors, application areas, and current market trends to understand the dynamics within each nation. This analysis is crucial for assessing the growth potential of the market in each country.
3.3 Company Profile:
The “Table of Contents” includes a detailed analysis of over 25 to 30 companies operating within the market ecosystem across different geographies. Typically, our syndicate reports profile 10 companies, representing leading, emerging, and regional players. However, our analysis extends beyond these 10 companies to ensure a comprehensive understanding of market trends. The “Company Profiles” section features key facts, business descriptions, products and services, financial information, SWOT analysis, and key developments. Financial data is sourced from annual reports and official documents of publicly listed companies, and is verified through primary sources before compilation. This company-level information is essential for determining the base number and forecasting market size.
3.4 Developing Base Number:
We aggregate sales data, macroeconomic factors, and insights from secondary and primary research to establish the base number and market shares for the base year. This phase involves identifying data gaps and analyzing relevant market data from paid interviews or databases. After finalizing the base year market size, we develop forecasts based on macroeconomic factors, industry growth, and company-level analysis.
Data Triangulation and Final Review:
We validate market findings and base year calculations through both supply and demand-side evaluations. Demand-side validations are based on macroeconomic analysis and regional benchmarks, while supply-side validations involve estimating revenues of major companies using industry benchmarks, employee numbers, product portfolios, and primary interviews. We assess revenue from target product/service segments to ensure accurate market statistics. Significant deviations between supply and demand values prompt a re-evaluation to achieve consistency.
Our iterative approach involves sharing research findings with Subject Matter Experts and Key Opinion Leaders until a consensus view is achieved. This process helps mitigate drastic deviations in expert opinions. We use data triangulation—validating information from secondary sources with primary interviews and re-verifying with internal databases and experts—to ensure high-quality, reliable data is delivered efficiently.
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