Rapid increase in labor safety and labor costs, significant growth in adoption of robotics in Small & Medium Enterprises, and rising implementation of automation in various industries are expected to drive the adoptions of vision guided robotics software, whose market is forecasted to grow at a CAGR of 17.9%Published Date: Feb 2018
According to a new market research study titled ‘Vision Guided Robotics Software Market to 2025 – Global Analysis and Forecasts by Type, Technology, Application Type, and Vertical’, the global vision guided robotics software market was valued at US$ 894.4 Mn in 2016 and is estimated to reach US$ 3,719.8 Mn by 2025. The report highlights the trends prevalent in the global vision guided robotics software market and the factors driving the market along with those that act as deterrents to its growth.
The vision guided robots, increase the operational efficiency by speeding up the processes, increases the flexibility of work, and can perform multiple tasks. Furthermore, these vision guided robots are integrated with high end machine vision software, which enables them to detect tasks and path, allowing the industries to manage their workstations and processes efficiently. The machine vision software allows the robot to work faster with higher efficiency, where human performance is practically not feasible. These factors aids in completing the desired task with high accuracy and in less time, which is another factor boosting the adoption of vision guided robots integrated with high end software. These advantages of robots over humans are increasing the adoption rate of robots in the industrial sectors worldwide. Thus, the deployment of vision guided robots is helping various industries to fight labor shortage and rising labor costs to great extent, resulting in market growth.
A significant growth in adoption of robots by small and medium enterprises (SMEs) has been witnessed in the past few years. With the advent of robust robotic technology, the customization of products for certain applications increased the flexibility of work among small and medium enterprises. The vision guided robots are easier and much more flexible when put to work, and these machines are highly reliable from the safety point of view, which allows the company to increase their productivity and ultimately competitiveness in the market. These benefits of vision guided robotic technologies are increasing the investment in robotic systems from small and medium enterprises (SMEs) in the developed countries as well as developing countries across the globe.
Nonetheless, the introduction of 3D vision technology, is anticipated to boost the procurement in the established organizations and SMEs, resulting in market growth. Furthermore, various companies operating in the industry are researching on development of robots and robotic vision, which is expected to increase the adoption of robots. Advancement of sensor technologies and processing power are enabling robots to take on more amorphous tasks such as driving, flying and mobile activities among others, which requires obstacle identification and avoidance capabilities through vision systems.
The global vision guided robotics software market is segmented based on type, technology, applications, vertical and geography. The robot type segment of vision guided robotics software market includes fixed robot, and mobile robot. On the basis of technology, the vision guided robotics software market is broadly segmented into 2D vision guided, and 3D vision guided. Moreover, the market for vision guided robotics software is bifurcated on the basis of applications into arc welding, assembly, cutting, palletizing & machine tending, navigation, random bin picking, collaborative robot, and others. Five major geographical regions considered within the scope of this market are North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM).
The automobile vertical holds the largest market share in terms of revenue and drive the growth vision guided robotics software market. Players having a good hold over the vision guided robotics software market can look to venture into providing innovative solutions. The key players profiled in the report are ABB (Switzerland), Fanuc Corporation (Japan), Cognex Corporation (United States), Automation Anywhere (United States), Vision Guided Robotics, LLC (United States), Robotic Vision Technologies Inc. (United States), Bluewrist Inc. (Canada), Energid Technologies Corporation (United States), iRobot Corporation (United States), Asimov Robotics (India), Recognition Robotics Inc. (United States) , READY Robotics Corporation (United States), Pick It N.V. (Belgium), MVTech Software GmbH (Germany), and Visio Nerf (France) among others.