PUBLISHER: The Business Research Company | PRODUCT CODE: 1503928
PUBLISHER: The Business Research Company | PRODUCT CODE: 1503928
Vision-guided robotics software refers to software that enables robots to perceive and interpret their environment using cameras or other visual sensors. It allows robots to autonomously navigate, manipulate objects, and perform tasks precisely by analyzing images and making decisions based on the acquired visual data.
The primary types of vision-guided robotics software include mobile robots and fixed robots. Mobile robots are either fully autonomous or semi-autonomous machines designed to navigate and perform tasks in various environments without constant human intervention. These technologies encompass 2-dimensional and 3-dimensional vision-guided systems used for applications such as advanced robotic control (e.g., welding, assembly, cutting), palletizing, machine tending, navigation, random bin picking, collaborative robots, and others. These applications span across verticals including automotive, electrical and electronics, aerospace, healthcare, transportation and logistics, food and beverages, among others.
The vision guided robotics software research report is one of a series of new reports from The Business Research Company that provides vision guided robotics software market statistics, including the vision guided robotics software industry's global market size, regional shares, competitors with a vision guided robotics software market share, detailed vision guided robotics software market segments, market trends and opportunities, and any further data you may need to thrive in the vision guided robotics software industry. This vision guided robotics software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The vision guided robotics software market size has grown rapidly in recent years. It will grow from $2.25 billion in 2023 to $2.69 billion in 2024 at a compound annual growth rate (CAGR) of 19.4%. The growth in the historic period can be attributed to decreasing cost of hardware, increased processing power, miniaturization of cameras, globalization of supply chains, and safety and regulatory compliance.
The vision guided robotics software market size is expected to see rapid growth in the next few years. It will grow to $5.52 billion in 2028 at a compound annual growth rate (CAGR) of 19.7%. The growth in the forecast period can be attributed to demand for quality control, growth in e-commerce, focus on lean manufacturing, increasing complexity of manufacturing processes, and market penetration in emerging economies. Major trends in the forecast period include cloud-based solutions, edge computing, sensor fusion, autonomous navigation, and human-robot collaboration.
The anticipated rise in robotics' adoption across various industries is poised to drive the expansion of the vision-guided robotics software market. Robotics encompasses technology development, assembly, utilization, and upkeep of robots. The growing uptake of robotics stems from efficiency gains, cost reductions, and technological advancements. Vision-guided robotics software augments robotic functionalities by enabling real-time perception, interpretation, and response to visual data, optimizing navigation, object recognition, and manipulation tasks. For example, data from the International Federation of Robotics published in October 2022 revealed a deployment of approximately 517,385 new industrial robots worldwide, marking an increase of 39,400 from the previous year. Consequently, the rising adoption of robotics fuels the growth of the vision-guided robotics market.
Leading companies in the vision-guided robotics software market are concentrating on developing advanced solutions, such as embedded AI technology-based Vision Systems, to enhance automation efficiency and precision. Embedded AI technology in vision-guided robotics software involves integrating artificial intelligence algorithms directly into the hardware or firmware of robotic systems, facilitating real-time processing and decision-making based on visual data. For instance, Cognex Corporation, a US-based manufacturer of machine vision systems, unveiled the In-Sight L38 3D Vision System in April 2024, incorporating AI, 2D, and 3D vision technologies to address various industrial automation inspection and measurement requirements. Tailored for robotic guidance, its 3D capabilities facilitate precise object perception, critical for tasks such as picking, placing, and inspecting on production lines. Integration of such systems with robotic software enhances efficiency and accuracy by empowering robots to make informed decisions based on visual data.
In January 2024, ABB Ltd., a Sweden-based company specializing in automation and electrification technologies, acquired Sevensense Robotics AG, a Switzerland-based provider of three-dimensional vision navigation technology with AI capabilities for autonomous mobile robots (AMRs). This strategic move by ABB Ltd. aims to strengthen its leadership in AI-driven mobile robotics, particularly in AI navigation systems for AMRs.
Major companies operating in the vision guided robotics software market are ABB Ltd, Omron Corporation, Keyence Corporation, Fanuc Corporation, Yaskawa Electric Corporation, Cognex Corporation, Universal Robots A/S, Basler AG, Teledyne DALSA Inc., LMI Technologies Inc., IDS Imaging Development Systems GmbH, Zivid AS, Bluewrist, Integro Technologies Corp, Allied Vision Technologies GmbH, Visio Nerf, Neurala Inc., MVTec Software GmbH, Apera AI, Robotic Vision Technologies Inc., Sick AG
Asia-Pacific was the largest region in the vision guided robotics software market in 2023. The regions covered in the vision guided robotics software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the vision guided robotics software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The vision guided robotics software market consists of revenues earned by entities providing services such as object detection and recognition, quality inspection, and safety monitoring. The market value includes the value of related goods sold by the service provider or included within the service offering. The vision guided robotics software market also includes sales of 3D vision sensors, vision systems and cameras, and software libraries and toolkits. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Vision Guided Robotics Software Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on vision guided robotics software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for vision guided robotics software ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The vision guided robotics software market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.