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.
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.
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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Market Overview:
The research report assesses the market dynamics, market landscape, company profiles, production and manufacturing capacity, year-on-year growth rate, SWOT analysis, and Porter’s Five Forces analysis. The report estimates the market size, market growth, and provides an accurate forecast for the key segments of the market for the forecast period of 2020-2028. The report also covers an in-depth analysis of the key competitors of the market, along with their growth strategies and business expansion plans.
The Vision Guided Robotics Software Markethas been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Vision Guided Robotics Software Market.
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.
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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
- Navigation
- Random Bin Picking
- Collaborative Robots
- 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
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East Africa
- Latin America
- Brazil
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Key Advantages of Vision Guided Robotics Software Market Report:
- Identification and analysis of the market size and competition
- Qualitative and quantitative analysis of the market data
- Data validated by industry experts after extensive primary and secondary research
- Extensive regional analysis of the Vision Guided Robotics Software industry
- Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
- SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
- Feasibility analysis and investment analysis to enable strategic investment decisions
- Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Vision Guided Robotics Software Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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