Vision Guided Robotics Software Market Drivers and Forecasts by 2030

[Research Report] The vision guided robotics software 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.

Analyst Perspective:

The vision guided robotics software market is highly fragmented with the presence of large number of players. With an objective of sustaining in the industry and competing with their peers, the companies are adopting several strategies, including competitive price, miniaturized technology, cloud-based technology, mergers and acquisitions, and additional aftersales service. These strategies offer the companies a substantial competitive edge over others. The vision guided robotics software market is poised to develop in the coming years, considering that various developing countries' governments are allowing foreign direct investments (FDI) to optimize monotonous and hectic operations performed across industries with precision and ease. In addition, the demand for 3D vision technology is increasing rapidly among end users, propelling manufacturers to innovate and develop robust software for robotic systems. The 3D vision systems, coupled with machine vision software such as RoboRealm and Visionscape, enhance the performance of a vision guided robot during the execution of any tasks, is driving the vision guided robotics software market share. The vision guided robots integrated with machine vision software are suitable for applications such as pick and place, bin picking, welding, assembling, racking, dispensing, and product sorting. Owing to the benefits of the 3D vision technology paired with machine vision software, end users are increasingly adopting the latest technology, boosting the vision guided robotics software market growth globally.

Market Overview:

Vision-guided robotics software is used across various verticals to extract, characterize, and interpret information about a particular product and perform desired autonomous tasks, whether mechanical or electrical. The companies in the vision guided robotic market are consistently focusing on developing advanced technologies that would enhance the automation scenario to a greater extent and help the manufacturing industries intensify their process. Advancements in sensor technologies and processing power allow robots to take on more tasks, such as flying, driving, and mobile activities, which demand obstacle avoidance and identification capabilities through vision systems. The foremost areas for robot manufacturers to develop a robust vision guided robot involve advancement in imaging hardware, fast-increasing computing power, improvement in high-level software libraries, and reduction in the cost of computer memory. Also, the growth of machine vision will bolster the automation technology in the industrial sector.

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Vision Guided Robotics Software Market: Strategic Insights

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Market Driver:

High Potential for Mass Customization Drives the Vision Guided Robotics Software Market Growth

Major manufacturing companies across the globe are adopting intelligent technologies with the intent of reducing day-to-day challenges. Consumer demands for customized robots are increasing for various monotonous work across organizations, and they can be upgraded easily with time and changing requirements. The constant enhancement of the product has empowered thousands of companies to invest in lower costs than a traditional mass producer is fueling the vision guided robotics software market. The vision guided robotics software can be updated per the consumers' requirements over time. This software update incurred less costs for users than the system installation or replacement of a new system in the industry.

Industries such as automobile, aerospace, healthcare, logistics, transportation, and manufacturing heavily integrate their workstations with robotic technologies. In recent years, various robotic companies have developed vision guided robots, changing the global automation scenario as these robots have multiple benefits over conventional robots. These robots are capable of multi-tasking and carrying cameras that reduce the integration of sensor technology. he robots are highly accurate and efficient. Thus, the high potential for mass customization is propelling the vision guided robotics software market share.

Report Segmentation and Scope:

The vision guided robotics software market is segmented based on type, technology, application, and vertical. Based on type, the vision guided robotics software market is segmented into mobile robot and fixed robot. In terms of technology, the vision guided robotics software market is categorized into 2D vision guided and 3D vision guided. Based on application, the vision guided robotics software market is segregated into arc welding, assembly, cutting, palletizing & machine tending, navigation, random bin picking, collaborative robots, and others. In terms of vertical, the market is segmented into automotive, electrical & electronics, aerospace, healthcare, transportation & logistics, food & beverages, and others. By region, the vision guided robotics software market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).

Segmental Analysis:

Based on type, the vision guided robotics software market is segmented into mobile robot and fixed robot. The fixed robots segment held a larger vision guided robotics software market share in 2022 and is anticipated to grow during the forecast period. Fixed robots are widely used in multiple industries due to the benefit of a wide range of interchangeable tools. These robots require enough programming to perform a task, and currently, different software, cameras, and sensors are being installed into these autonomous systems to enhance their capability, is increases segment share and driving the vision guided robotics software market. Generally, fixed robots are installed in industries for welding, placing, fixing, and shaping, among others. With the help of advanced imaging systems, sensors, and software, the operational efficiency of fixed robots is increased, enabling these systems to understand their task by themselves, is boosting the vision guided robotics software market size.

Regional Analysis:

Asia Pacific held the largest vision guided robotics software market share in 2022. The presence of large automotive, semiconductor, and electronics manufacturing industries has triggered the adoption of automated robots to achieve more precision in operations is boosting the vision guided robotics software market size. China and Japan have robust electronics industries that use vision guided robots for component fabrication, picking and placing parts, assembling miniature components on PCBs, applying adhesives, inspections, testing, and packing. Asia Pacific is heavily pushing development and innovation in the vision guided robotics software market. The region includes several developing economies, such as China, India, and Southeast Asia. APAC presents a huge opportunity in the field of vision guided robotics software to automate the work, which is propelling the vision guided robotics software market. A few companies have set up a vision and strategy for implementing this software in robots in the coming years. In contrast, many enterprises are still planning to adopt fully automated operations, which is expected to boost the vision guided robotics software market.

Moreover, the China vision guided robotics software market in growing. China is one of the largest countries in terms of robot density. The adoption of robots in the automotive industry in China has risen significantly and has surpassed the US and Germany. For instance, according to the International Federation of Robotics, the number of operational robots in the manufacturing sector in China reached 322 units per 10,000 employees in 2021, surpassing the robot density in the U.S. (274 units per 10,000 employees) for the first time. Also, many countries in the region are manufacturing hubs, which increases the number of companies expanding to the region. This leads to new manufacturing plants and factories, creating a demand for automation and the high installation of robots, is fueling vision guided robotics software market. In addition, the increasing demand for automation in the manufacturing of electronic devices is projected to drive the installation of robots. This will drive vision guided robotics software market.

Key Player 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.

Vision Guided Robotics Software Market Regional Insights

The regional trends and factors influencing the Vision Guided Robotics Software Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Vision Guided Robotics Software Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Vision Guided Robotics Software Market Report Scope

Vision Guided Robotics Software Market Players Density: Understanding Its Impact on Business Dynamics

The Vision Guided Robotics Software Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Vision Guided Robotics Software Market are:

1. ABB Ltd
2. Fanuc Corp
3. Cognex Corp
4. OMRON Corp
5. MVTec Software GmbH

Disclaimer: The companies listed above are not ranked in any particular order.

Recent Developments: 

The vision guided robotics software market players highly adopt inorganic and organic strategies. A few recent key market developments are listed below: 

• In December 2023, Mecalux (a global provider of automated warehouse solutions, warehouse management systems, and stacker cranes) and Siemens combined their expertise and experience in industrial automation technologies. The partnership will optimize picking tasks in warehouses and logistics centers with a new artificial intelligence solution. The solution is based on Siemens Xcelerator, the open digital business platform with a Software and IoT-enabled hardware portfolio, an ecosystem of partners, and a marketplace.
• In November 2023, ABB Robotics extended the scope of its free Wizard Easy Programming software to include its six-axis industrial robots powered by an OmniCore controller and its collaborative robots. This makes ABB the first robot manufacturer to offer an easy-to-use, no-code programming tool for cobots and six-axis industrial robots, lowering barriers to automation for new users and offering ecosystem partners and integrators an efficient tool to support their customers.
• In August 2023, OSARO (a global leader in machine-learning-enabled robotics for e-commerce) welcomed Cognex Corporation (the leader in industrial machine vision) into the OSARO Partners Alliance—an ecosystem of expertise to deliver optimal automation solutions to customers. By integrating Cognex DataMan fixed-mount, image-based barcode readers into the OSARO Robotic Bagging System, OSARO solved a difficult technical challenge for Zenni Optical.
• In February 2023, ABB released its SWIFTI CRB 1300 industrial collaborative robot, featuring an expanded load-handling capacity of up to 11 kg and features such as palletizing and pick-and-place in a solution. This product is expected to bridge the gap between industrial and collaborative robots.