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Vision Guided Robotics Software Market Size Projected To Reach USD 3,097.3 Million at a CAGR of 13.30%, By 2028

Reports And Data

Reports And Data

Vision Guided Robotics Software Market Size – USD 1,120.6 Million in 2020, Market Growth - CAGR of 13.30%.

NEW YORK, NY, UNITED STATES, May 12, 2022 /EINPresswire.com/ -- Increased capabilities of robots, widespread functionality, faster, consistent and enhanced precision in the quality of work, extensive research and development, and numerous technological advancements are the key factors contributing to high CAGR of vision guided robotics software market during the forecast period.

Market Trends – The increasing government initiatives for robot development to boost the Vision guided robotics software Market.                                                                                                 

According to the current analysis of Reports and Data, the global vision guided robotics software market was valued at USD 1,120.6 Million in 2020 and is expected to reach USD 3,097.3 Million by the year 2028, at a CAGR of 13.30%. The study provides an overall insight into the factors responsible for the growth in the Vision guided robotics software market. With technologies like Artificial Intelligence, Machine Learning, Data Analytics extending the capabilities and functionalities of robots, these robots are now being used across several vertical to perform monotonous tasks increasing the production and quality of work. The vision guided robotics software market consists of different applications such as Arc Welding, Assembly, Cutting, Palletizing & Machine Tending, Navigation, Random Bin Picking, Collaborative Robots, and others. The vision guided robotics software market end-users comprises of Automotive, Electrical & Electronics, Aerospace, Healthcare, Transportation & Logistics, Food & Beverages, and Others.

In terms of population density, nearly 60% of the world's population lives in the Asia Pacific region. Over the past decade, the use of fixed robots in China's automotive industry has increased considerably, making it one of the robotics market leaders. Also, many of the nations in the Asia Pacific region are manufacturing hubs for different sectors, thereby increasing the number of businesses expanding into the area, leading to fresh manufacturing plants and factories, resulting in demand for automation leading to large robots assembly.

The intense competition is keeping the key players at their toes. Extensive research and development are being funded by these companies to be ahead of everyone else. Companies are regularly rolling out innovations to capture the market.

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Further key findings from the report suggest

• Vision guided robotics software market is growing at a CAGR of 15.1% in the Asia Pacific, followed by North America and Europe, with 14.2% and 14.0% CAGR, respectively.
• Fixed robot segment of the vision guided robotics software market is expected to occupy the majority of the market accounting to almost around 68% share owing to its precision and consistency of work
• Groundbreaking technologies like Machine Learning, Artificial Intelligence and Data Analytics revolutionizing the capabilities of machines altogether, this market is expected to grow critically in the coming years
• Automotive Component of the Vision guided robotics software market occupied almost 29% of the market because upgradation of factories with technologically advanced machines which have the increased production capacity of this industry.
• The market has noted strong growth due to advancement in the degree of in technologies and uses available in our day to day lives. Furthermore, there has been a shift of consumers towards this market due to raising awareness about the better qualities and advantages of using these products over conventional ways.
• Key participants iRobot Corporation, Pick-it N.V., Recognition Robotics Inc., Vision Nerf S.A., Nachi Robotic Systems, Inc., and KUKA Robot Group, Robotic Vision Technologies (RVT).

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Segments covered in the report:

For the purpose of this report, Reports and Data have segmented the Vision guided robotics software market on the basis of robot type, technology, application, vertical and region:

Robot type (Revenue in USD Million; 2018–2028)

• Fixed robot
• Mobile robot

Technology type (Revenue in USD Million; 2018–2028)

• 2D Vision guided
• 3D Vision guided

Application Type:

• Arc Welding
• Assembly
• Cutting
• Palletizing & Machine Tending
• Others

Vertical types (Revenue in USD Million; 2018–2028)

• Automotive
• Electrical & Electronics
• Aerospace
• Healthcare
• Transportation & Logistics
• Food & Beverages
• Others

Regional Outlook (Revenue in USD Million; 2018–2028)

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

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Tushar Rajput
Reports and Data
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