The global vision guided robotics market accounted for US$4.12 billion last year and is expected to grow nearly three-fold by 2027, reaching US$12.99 billion, a new report predicts.
Growth in recent years in the vision guided robotics market is primarily driven by the growing popularity of automation across a range of different industry verticals.
The Asia-Pacific region is expected to gain the highest market share in the vision guided robotics market.
The penetration of vision guided robotics is gaining pace in diverse industries other than automotive and electronics, the report by ReportLinker found.
Growth industries include logistics, food & beverage and industrial machinery.
The industrial market is expected to grow further in developed markets including China, US, and Japan.
The massive growth of global vision guided robots is attributed to the necessary modernisation and transformation required in these markets.
The latest statistics are promising for vision guided robotics manufacturers, the report notes.
Government support
Several governments worldwide are taking initiatives to support and promote the development and adoption of vision guided robotics in their respective countries, it says.
For example, the government of Singapore, under its Industry Transformation Program, has announced several measures to help companies and industries to innovate, automate, and expand overseas and obtain finance.
The Singapore government launched the program in 2015 for the development and deployment of robotics in various sectors including, healthcare, manufacturing, construction, and logistics. The supporting government initiatives are expected to drive the growth of vision guided robotics market in the coming years.
In compiling the report, interviews were conducted with industry participants and commentators to validate data and analysis.
It included industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the vision guided robotics industry.
Key players in the global vision guided robotics market include ABB Ltd., Fanuc Corporation, Basler AG, Cognex, ISRA Vision, Yaskawa Electric Corporation, Universal Robots AS, Denso Corporation and Omron Corporation.
The full report is available here: https://www.reportlinker.com/p05794754/?utm_source=PRN
