Advancements in Artificial Intelligence in Logistics to Create Opportunities in Vision Guided Robotics Software Market During 2022–2030
According to our latest market study on "Vision Guided Robotics Software Market Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis – by Type, Technology, Application, and Vertical," the market was valued at US$ 1.82 billion in 2022 and is expected to reach US$ 6.03 billion by 2030; it is estimated to record a CAGR of 16.1% from 2022 to 2030.
Vision guided robotics (VGR) is a rapidly emerging field in robotics and machine vision. While industrial robots are employed in a wide range of industries, the ability to steer a robot based on information from a machine vision system is allowing industrial robots to be utilized in a wider range of applications, which is creating opportunities in the vision guided robotics software market growth. The AI-integrated vision guided robotics software is highly used in logistics. Vision guided robotics has promising applications in the logistics industry. Simple singulation is a manual task in which mass-mixed objects are separated into single items before being introduced into a fully automated system that handles the sorting and routing increases the demand by driving the vision guided robotics software market share. The bulk objects could be different-size packages, consumer items, or boxes, and the speeds required to justify a system's return on investment range from 500 to 1,500 singulated items per hour, depending on the application. Modern industrial robots are capable of achieving these speeds, but not traditional machine vision approaches. Given the needed production speeds, the robot must acquire a single item correctly each cycle. This will be determined by the vision system's ability to split the scene and present the optimal location for the robot to choose from. Depending on the application and products, traditional machine vision algorithms can achieve segmentation success rates ranging from 80% to 95%. The vision system detects the borders between them items and select a spot from where a suction cup or parallel gripper would effectively retrieve an item. Thus, all the above factors are fueling the vision guided robotics software market.
Vision Guided Robotics Software Market – by Geography, 2022
Vision Guided Robotics Software Market Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Mobile Robot and Fixed Robot), Technology (2D Vision Guided and 3D Vision Guided), Application (Arc Welding, Assembly, Cutting, Palletizing & Machine Tending, Navigation, Random Bin Picking, Collaborative Robots, and Others), and Vertical (Automotive, Electrical & Electronics, Aerospace, Healthcare, Transportation & Logistics, Food & Beverages, and Others)
Vision Guided Robotics Software Market Forecast to 2030
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Source: The Insight Partners Analysis
ABB Ltd, Fanuc Corp, Cognex Corp, OMRON Corp, MVTec Software GmbH, Pick-it N.V., Ready Robotics Corporation, Siemens AG, Teradyne Inc, and Robotic Vision Technologies (RVT), LLC are among the key vision guided robotics software market players profiled in the report. Several other major vision guided robotics software market players were also studied and analyzed during this market research study to get a holistic view of the market and its ecosystem. The vision guided robotics software market report provides detailed market insights, which help the key players strategize their growth.
The Europe vision guided robotics software market includes France, Germany, Italy, Russia, the UK, and the Rest of Europe. Europe holds second-largest share in the vision guided robotics software market. Europe comprises several major manufacturing industries, such as aerospace, machinery & equipment, and automotive. The automotive industry of Europe is considered crucial as it significantly contributes to the country's GDP and provides employment to millions of individuals in the region.
The Europe vision guided robotics software market is witnessing tremendous growth in automobile and nonindustrial applications. The rising adoption of machine vision systems in the automotive, manufacturing, and consumer electronics sectors is a key market driver. Though Germany does not have large-scale production factories regarding consumer electronics, the massive automobile manufacturing presence fuels the vision guided robotics software market.
Countries in Europe play an increasingly important role in the global manufacturing and service market; hence, the vision guided robotics software market in these countries is gaining traction. In addition, the advancement in the Industry 4.0 revolution and integration of machine learning and deep learning with robotics are expected to increase the adoption of guided robotics software. Major market players in Europe—including ABB Ltd., Pick-it N.V., and MVTech Software GmbH—are focusing on developing vision guided robotics software in the region.
Moreover, Germany is the hub of automobiles and automobile components in Europe. The country's vision guided robotics software market is anticipated to be furnished soon, owing to increased awareness of advanced technologies among the German masses. Also, vast applications such as Industry 4.0, automated, and connected driving need data transmission between the machines constantly and in real time. This depicts the infrastructure development and integration of vision guided robotics software to enhance the functionality of autonomous vehicles across the country.
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