Robotics & Automation News

Market trends and business perspectives

Demand for robot vision system set to surpass $7 million by 2033

The global robot vision system market is likely at $2,690.4 million in 2023 and expected to grow at a compound annual growth rate of 10.4 percent during the forecast years of 2023-2033, according to a report by Fact.MR.

In order to improve job efficiency and replace human labour, the market for robots is rising and is anticipated to rise more during the coming year.

The market is expanding as a result of increased adoption of machine vision systems and the use of cognitive humanoid robots in end use industries such as automotive industry and others.

Machine direction frameworks, which are critical to the engine chassis marriage process, utilize 2D and 3D machine vision frameworks to build the exactness and speed of gathering robots and robotized material taking care of gear.

The main categories of applications can be seen in robotics, dimensional gauging activities, assembly verification, flaw identification, paint job verification, and code reading. However the specific uses depend on the type of vehicle or model being manufactured.

These robotic vision systems are beginning to gain favor with manufacturing companies all over the world, particularly in settings where precise execution of repetitive tasks like inspection is required.

In both dangerous areas and fast-moving production lines, they play a crucial part. These system provide a number of important advantages, including improved productivity, decreased machine downtime, and tighter process control.

Key takeaways from market study

  • The global robot vision system market is projected to reach the valuation $7,236.2 million by 2033.
  • The market witnessed 7.2 percent CAGR between 2018 and 2022.
  • 2D type of vision system will dominate the market with $1,794.5 million valuation in 2023.
  • By application sector, inspection will dominate the market with 26.3 percent market share in 2023.
  • Based on region, demand for robot vision system is expected to increase in North America & East Asia with an impressive CAGR of 18.2 percent and 43.1 percent, respectively during the forecasted period.

“The plethora of advantages provided by the robot vision system ought to increase due to the technological advancements,” says a Fact.MR analyst.

Market development

To solve concerns with quality vision systems are receiving more funding from automakers. Automotive manufacturers and component suppliers are rapidly utilising the technology for a range of tasks, such as adhesive dispensing, bin selecting, material handling, error-proofing, inline welding analysis, surface inspection, robotic guiding, and traceability.

Increasing desire for personalization, tightening labour markets, and cost pressures are a few of the key factors influencing the usage of vision systems in the automotive sector.

Insights

Fact.MR, in its new offering, presents an analysis of the global robot vision system market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.

The study divulges essential insights on the market on the basis of vision (2D, 3D), end use industry (aerospace, automotive industry, consumer electronics, food and beverages, logistics and warehousing, manufacturing, pharmaceutical, semiconductor, others) and application (depalletizing, inspection, measuring, navigation, product assembly and sorting) across six major regions (North America, Latin America, Europe, East Asia, South Asia and Oceania, and the Middle East and Africa).

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