PUNE, India -- According to the new market research report "Robotic Vision Market by Component (Camera, Smart Camera, Computer), Technology (2D, 3D [Laser, Structured Light, Stereo Vision]), Application (Welding, Painting), Industry (Electrical & Electronics, Automotive), and Geography - Global Forecast to 2020", published by MarketsandMarkets, the market is estimated to reach USD 5.18 Billion by 2020, growing at a CAGR of 10.8% from 2015 to 2020.
The factors driving the robotic vision market include demand for safety, reliability, accuracy, efficiency, and ease of implementation and penetration.
Robotic vision is used in industries for improved sanitation, correct packaging, and material handling operations due to strict government regulations and increasing public awareness regarding food and beverage safety. Robotic vision ensures quality and safety, prevents defective products from entering the supply chain, and facilitates product traceability. Robotic vision performs these applications reliably and consistently and is a superior alternative to photoelectric sensor-based application. Apart from this, many companies are accepting it due to the value it brings to their operations, that is, value in the form of improved product quality, more manufacturing flexibility, and higher throughput.
Asia-Pacific expected to hold the largest market share and growth during the forecast period:
The Robotic Vision Market in APAC is expected to hold the largest share by 2020 owing to major driving forces such as industrialization, less availability of skilled labors, government initiatives, and demand for safety and accuracy. China and Japan are expected to the next emerging industrial hub after Germany and the U.S. These countries are expected to contribute vision guided robots market with several opportunities.
Automotive industry expected to lead the Global Robotic Vision market:
The automotive industry is the early adopter of automated robotic arms for the manufacturing and assembling of vehicle parts. The industry is increasingly using robotic vision for inspection of parts, welding, and material handling. The industry also relies heavily on highly effective approaches to prevent defects at various stages of production, with the help of robotic vision systems. The electrical & electronics industry has emerged as an important sector for robotics vision after the automotive industry.
Material handling dominates the Global Robotic Vision market:
Material handling and packaging & palletizing application account for a large share in the food and beverage industry. It uses robotic vision to reduce labor costs by vision supported packaging of food thereby ensuring brand quality with label verification.
This report describes the drivers, restraints, opportunities, and challenges with respect to the robotic vision market. The Porter's five forces analysis has been included in the report with a description of each of the forces and their respective impact on the robotic vision market.
The major players of robotic vision are Yaskawa, Fanuc, ABB Ltd, KUKA Robotics, Kawasaki Robotics, Basler AG, Cognex, National Instruments, Keyence, and Sick.
Browse 20 Tables and 58 Figures spread through 195 Slides and in-depth TOC on "Robotic Vision Market" at http://www.marketsandmarkets.com/Market-Reports/robotic-vision-market-196002505.html?utm_source=PRnewswire&utm_medium=Referral&utm_campaign=PaidPR
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