Sun. Sep 24th, 2023
    Vision Guided Robotics Market: Global Industry Trends and Growth Forecast

    The global vision guided robotics market is expected to experience significant growth in the coming years. According to a report by Report Ocean, the market was valued at $3,834 million in 2015 and is projected to reach $7,718 million by 2022, growing at a CAGR of 10.7% from 2016 to 2022. This growth can be attributed to the increasing need for automation and safety, high labor costs, and a shortage of skilled labor.

    Vision guided robots are equipped with cameras and sensors to perform image-based analysis in industrial processes. They provide feedback to the robot controller and move towards the target location. These robots offer increased production efficiency, enhanced quality, and reduced manual errors and resource wastage. They are utilized in various industries such as automobile, electrical & electronics, aerospace & defense, food & beverage, healthcare & pharmaceutical, and metal processing.

    However, the market faced adverse consequences due to economic sanctions imposed on Russia by the United States and its allied nations. The Russia-Ukraine War, which started in February 2022, triggered a series of policy decisions and shifts in global markets. The invasion of Ukraine by Russia caused disruptions in import and export activities, affecting the global business landscape. The market also experienced the dominance of Russian space agency Roscosmos, causing detrimental effects on alternative launch service providers.

    The key players in the vision guided robotics market include Pleora Technologies Inc., DENSO Robotics, Allied Vision Technologies GmbH, OMRON Corporation, Cognex Corporation, and ISRA VISION AG, among others. These companies offer hardware, software, and services for vision guided robotic systems.

    In conclusion, the global vision guided robotics market is expected to witness significant growth in the next few years. Factors such as the need for automation, safety concerns, and labor cost optimization are driving the market. However, economic sanctions and geopolitical conflicts may pose challenges to the market’s growth.

    – Report Ocean: “Vision Guided Robotics Market”: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023 to 2031