The new vision guided robotics market Research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Vision Guided Robotics Market 2020-2024. (Graphic: Business Wire)
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“One of the primary growth drivers for this market is the increased flexibility in discrete industries”, says a senior analyst for the Industrials industry at Technavio. As the markets recover Technavio expects the vision guided robotics market size to grow by USD 3.24 billion during the period 2020-2024.
Vision Guided Robotics Market Segment Highlights for 2020
- The vision guided robotics market is expected to post a year-over-year growth rate of -5.65%.
- Based on the type, the global vision guided robotics market saw high demand for 2D vision systems in 2019.
- The growth of the market in the 2D vision systems segment is driven by the increased implementation in logistics applications for picking and packaging heavy materials. Also, the market growth in the segment will be significant during the forecast period.
- 35% of the growth will originate from the North America region.
- Growth of the market in APAC is driven by factors such as advances in vision technology and improvements in image quality.
- The US is one of the key markets for vision guided robotics in North America. Market growth in this region will be slower than the growth of the market in APAC, MEA, and South America.
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- The vision guided robotics market size is expected to accelerate at a CAGR of about 10% during the forecast period.
- The vision guided robotics market is segmented Type (2D-vision system and 3D-vision system) and Geography (North America, Europe, APAC, South America, and MEA).
- The market is fragmented due to the presence of many/few established vendors holding significant market share.
- The research report offers information on several market vendors, including ABB Ltd., Cognex Corp., FANUC Corp., Kawasaki Heavy Industries Ltd., KUKA AG, OMRON Corp., Pro Mach Inc., SICK AG, Teradyne Inc., and Yaskawa Electric Corp.
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