Latest News- Vision Guided Robotics Market: Logistics is expected to lead the Application segment during 2024-2028

The Vision Guided Robotics Market is being driven by Decline in electronic component prices

The Vision Guided Robotics Market is expected to grow at a CAGR of 12.14% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 5761.1 million. Vision-guided robotics represents a significant advancement in industrial automation, with autonomous mobile robots (AMRs) utilizing advanced camera systems and sensors to navigate complex environments and identify intricate images. The integration of smart vision systems is driving these robots towards increased independence, as they transition from 2D to 3D vision systems for enhanced accuracy and precision. In April 2023, ABB announced the addition of Visual Simultaneous Localization and Mapping (VSLAM) technology to its AMRs, further enhancing their capabilities and adaptability within dynamic industrial settings. Vision-guided robotics plays a crucial role in applications that demand high levels of accuracy, speed, and complex image recognition. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Logistics
  • Welding
  • Inspection and cleaning
  • Painting
• Type
  • 2D-Vision
  • 3D-Vision
• Geography
  • APAC
    • China
    • Japan
    • South Korea
  • North America
    • US
  • Europe
    • Germany
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Decline in electronic component prices
• Increased flexibility in discrete industries
• Reduction in error with increased precision

However, the market also witnesses some limitations, which are as follows:

• Battery life
• Finding multiple grooves
• Misconceptions related to vision guided robotics

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Market Scope in Vision Guided Robotics Market Research Report

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Research Analysis Overview

Vision Guided Robotics (VGR) is a subfield of robotics that utilizes cameras and software to enable robots to navigate and interact with their environment. With rising energy costs and the need to automate processes in various industry verticals, VGR has gained significant attention. VGR systems are particularly useful in rough terrains and hazardous environments where human intervention is risky or cost-prohibitive. The Aerospace & Defense, Healthcare & Pharmaceutical, Electrical & Electronics, Automobile, and Software industries are major resources driving the growth of the VGR market. The setup and design of VGR systems involve the integration of a camera, sensors, actuators, robot controller, feedback indication, and software to help robots identify and target the location of objects. In the Automobile industry, VGR is used for tasks such as welding, painting, and assembly. In the Electrical & Electronics industry, VGR is used for pick-and-place operations. In the Healthcare & Pharmaceutical industry, VGR is used for tasks such as pill counting and medical device assembly. In the Aerospace & Defense industry, VGR is used for tasks such as inspection and assembly of complex parts. The use of VGR in rough terrains and hazardous environments addresses labor safety concerns, reduces human intervention, and increases efficiency. The market for VGR is expected to grow significantly in the coming years due to its versatility and ability to adapt to various industry applications.

Market Research Overview

The industrial machinery, supplies, and component market encompasses businesses involved in the production of machinery and components for various industries, including presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. According to Technavio, the market size is determined by the consolidated revenue generated by these manufacturers supplying equipment for industrial applications. Factors driving growth in this sector include expanding industrial output in process and discrete industries, fueled by increasing global demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages, primarily in developing countries.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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