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The global Machine Vision and Vision Guided Robotics market in 2021 was valued at USD 14,970.12 Million and is projected to reach USD 29,705.23 Million by the year 2030. The market is anticipated to register a CAGR of 8.22% over the projected period. In 2021, around 188,907 units of Machine Vision and Vision Guided Robots were estimated to be sold.

Machine vision enables a robot for seeing what it is doing. The term vision-guided robots is collectively used for machine vision and image processing systems used for position detection as well as inspection with industrial robots. Growing need for quality inspection as well as automation is expected to boost the market growth. Furthermore, increasing applications in automotive vertical is also expected to fuel the market growth.

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Despite the driving factors, surging risk of cyber-attacks on industrial machine robots and devices are expected to hinder the market growth during the forecast period. Moreover, lack of standardization coupled with the high cost of vision robots is also estimated to negatively impact the market growth.

Increasing applications in automotive vertical

In the automotive domain, machine vision and vision robotics have various applications, including inspections and robotic guidance. They use embedded vision sensors to find objects in 2- or 3-dimensional space and adjust paths for object positions, robots utilize machine vision for far better accuracy in critical activities. These include auto racking, bin picking, and positioning of part for assembly. Hence, increasing applications in automotive vertical are estimated to boost the market growth during the forecast period.

The global Machine Vision and Vision Guided Robotics market is segmented the component, platform, type, application, industry-application.

The hardware segment’s volume is anticipated to grow at a CAGR of 8.35% owing to various technological advancements in sub-segments, such as sensors and infrared detectors, among others. The sensors segment is expected to surpass a market value of USD 2,000 million by 2028 and this value is estimated to hit around USD 2,593.4 million by 2030. This is owing to the rising number of players investing in this sub-segment. Within the software segment, the cloud-based sub-segment is anticipated to witness a growth rate of around 9.43%.

The vision guided robotics segment’s volume is estimated to cross a volume of around 1 lakh units by 2030 owing to the increasing demand of vision guided robotics. The camera based vision system segment’s market size if expected to be approximately 39% of the PC based market size by 2021 and is expected to reach up to 48% by 2030.

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The 2D vision system segment is expected to account for the largest market share of more than 51% owing to the high adoption of these systems in automotive applications. Within this segment, the line scan sub-segment is estimated to witness a growth rate of 8.34% over the projected period.

The gauging/measurement segment is anticipated to account for the largest market share of over 25% owing to the growing demand of vision robotics for this application. The material handling segment’s volume is anticipated to surpass around 35 thousand units by 2029 owing to the rising technological advancements in the segment. The assembling and disassembling segment is estimated to witness a growth rate of 9.55% in terms of its volume.

Within the automotive segment, the identification sub-segment is estimated to account for around 29.9% of the overall automotive segment’s market share. The food and beverages segment’s volume is expected to hit around 33,509 units by 2030 with a growth rate of 8.23% owing to the rapidly growing food and beverage industry. Also, within the food and beverages segment, the material handling sub-segment accounts for around 8.9% of the food and beverages industry. The healthcare and pharmaceuticals segment is anticipated to witness a growth rate of around 7.41% over the forecast period owing to the increasing adoption of automation in the healthcare and pharmaceuticals segment.

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Based on region, the global Machine Vision and Vision Guided Robotics market is divided into Europe, North America, Asia Pacific, South America, and the Middle East & Africa.

The North America region is expected to hold the largest market share of around 36% owing to the increasing use of robots in various industries and presence of various market players in the region.

Asia Pacific region accounted for the second largest market share and is also expected to witness the fastest growth rate during the forecast period owing to the rising adoption of novel technologies in emerging economies, such as China, India, and Japan.

Key players operating in the global Machine Vision and Vision Guided Robotics market include Cognex Corporation, Basler AG, ISRA Vision AG, Teledyne Digital Imaging Inc., STEMMER IMAGING AG, Eastman Kodak Company, OMRON Corporation, Allied Vision Technologies GmbH, Keyence Corporation, National Instruments Corporation, Hexagon AB, Qualcomm Technologies, and Other Prominent Players. The cumulative market share of 10 major players is more than 65%.

These market players are involved in collaborations, mergers & acquisitions, and new product launches to strengthen their market presence. For instance, in December 2021, Basler acquired DATVISION and IOVIS. DATVISION is a Korea-based distributor dealing in machine vision components and solutions for various industries, such as the electronics and semiconductor markets. IOVIS is a Seoul, South Korea-based distributor which markets an extensive product portfolio of vision components from a variety of manufacturers. The global Machine Vision and Vision Guided Robotics market report provides insights on the below pointers:

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