Global Machine Vision and Vision Guided Robotics Market is anticipated to generate a revenue of US$ 29,705.2 Mn by 2030, at a compounded annual growth rate of 8.22%, the market is witnessing an opportunity of US$ 14,735.1 Mn during 2021-2030.

In terms of volume, the global machine vision and vision guided robotics market was valued at 1,88,907 units in 2021 and is projected to reach 3,71,080 units by the end of the year 2030. Machine vision is an automated technology where images are taken and transferred to the PC and processed thereafter to inspect and report the processed results. A vision-guided robot (VGR) system is a robot with one or more cameras that provide a second feedback signal to the robot controller, allowing it to travel more precisely to a varied destination. It allows robots to perform basic tasks like presence detection to real-time inspection. 

The growing impetus of the machine vision and vision guided robotics market is attributed to the rising demand for quality inspection and automation. Furthermore, in the automotive and consumer electronics industries, the usage of industrial robots for automation has increased dramatically. As a result, there is a growing demand for machine vision systems to be integrated with vision-guided robot controllers. However, the surging risk of cyber-attacks on industrial machine robots and devices is a restraint to the market for machine vision and vision guided robotics. 

Report Summary

Astute Analytica's study takes a deep dive into the machine vision and vision guided robotics industry and the potential for old and new players to grow over the next decade. The study of the global machine vision and vision guided robotics market considers various market determinants, industry value chain analysis, and competitor analysis of the market. The report discusses the analysis of the machine vision and vision guided robotics industry for the period 2017-2030, where the base year is 2021 and the forecast period is 2022-2030. The report provides a detailed analysis of the global machine vision and vision guided robotics market across 11 Parts and, 229 pages. The report includes data presentation across 72 tables and 84 statistical figures. 

The report provides PESTLE analysis, which is a tool to examine the external market environment factors that have an impact on the industry. The PESTLE analysis examines the Political, Economic, Social, Technological, Environmental, and Legal factors in the external environment. Thus, sufficiently examining the threats and weaknesses of the industry. The research report also provides Porter’s five forces analysis wherein the bargaining power of buyers and competitive rivalry is high. Furthermore, the performances of the competitors were measured to understand the scope of the business in the market for machine vision and vision guided robotics. 

The subsequent section provides details of the market analysis based on different segments such as component, platform, type, application, industry, and region. The report includes a detailed study of the value chain of the industry. It includes raw material suppliers, machine vision and vision guided robotics manufacturers, distributors, and end-users. The report also covers extensively the key competitors in the market for machine vision and vision guided robotics. The main players in the market are Cognex Corporation, Basler AG, ISRA Vision AG, Teledyne Digital Imaging Inc., STEMMER Imaging AG, Eastman Kodak Company, Keyence Corporation, Hexagon AB, Qualcomm Technologies, and Allied Vision Technologies GmbH among others.

Key Takeaways from the Report

Hardware Component has the highest share in 2021

The hardware component has the highest market share of 64.8% in 2021. The hardware market size is expected to grow from US$ 9,699.4 Mn in 2021 to US$ 19,661.9 Mn by 2030, registering a CAGR of 8.47% during the forecast period 2022-2030. Due to the lower cost of robotics, vision systems that are less expensive but more adaptable can now be built. This system can inspect a variety of product variations and can be readily reconfigured.

Vision Guided Robots to grow at the fastest CAGR by 2030

PC-based platform dominates the global marketplace with a market size of US$ 7,809.2 Mn in 2021. On the contrary, vision-guided robots are anticipated to grow at the fastest CAGR of 8.49% during the forecast period. The huge advantages of vision guided robots over conventional robots in terms of relative accuracy and precision in operations are leading to the growing adoption of the former across a variety of application areas. Technological advancements are also lowering expenses and broadening the application of small and medium-sized businesses.

2D Type holds the highest market share in 2021

2D type holds the highest market share of 51.8% of the global machine vision and vision guided robotics market. This is because these systems are compatible with most software packages and are the default technology used for most machine vision applications. 2D systems are available in a continually expanding range of resolutions. However, the 3D type is projected to register the highest CAGR of 8.66% during the forecast period from 2022 to 2030. 

Automotive Industry to record a phenomenal growth in revenue to US$ 9,425.5 Mn by 2030

The automotive sector is on the edge of a revolution, to move towards autonomous vehicles to meet the demands of an increasingly connected and fast-paced world. The majority of the automotive OEMs are investing heavily in developing autonomous vehicles. Machine vision cameras and associated technology will play a critical role in the safety of autonomous cars, by assisting the car in identifying and recognizing potential hazards, as well as how to avoid them. Therefore, the automotive industry is expected to register the highest CAGR of 8.94% during the forecast period, taking the revenue up from US$ 4,474.3 Mn in 2021 to US$ 9,425.5 Mn by 2030.

The Asia Pacific to be the gamechanger for the Global Machine Vision and Vision Guided Robotics Market

Asia Pacific machine vision and vision guided robotics market is projected to be a gamechanger in the region with a CAGR of 9.18% during the forecast period. Regional revenue was valued at US$ 4,846.7 Mn in 2021 and is estimated to reach US$ 10,423.6 Mn by 2030. This rise is due to the enormous increase in industrial spending and the adoption of new technology. The Asian manufacturing industry has a reputation for quickly adopting innovation accelerators such as robotics, cloud, and mobility technology. Furthermore, the governments of China, India, South Korea, Taiwan, and Vietnam are working to improve investment opportunities. In addition, China is the world's top producer of passenger cars, followed by Japan, India, and South Korea, all of which are major vehicle manufacturers. This would accelerate the region's adoption of machine vision technology.

Impact of COVID-19

The leading industrial robot vendors struggled in 2020 due to a downturn in worldwide demand for industrial robots caused by the COVID-19 pandemic. The implementation of lockdown in several regions resulted in the prohibition of import and export, which further led to a sharp decline in its consumption. Disruption in Chinese chemical exports, large-scale manufacturing interruptions in Europe, and the shutdown of production plants in the United States have placed intense pressure on the industry. However, the adoption of automation to ensure quality production and meet market demand, and the growing demand from small- and medium-scale enterprises in developing countries is fueling the growth of the machine vision and vision guided robotics market globally.

Competitive Insight

The main competitors in the global machine vision and vision guided robotics market are Cognex Corporation, Basler AG, ISRA Vision AG, Teledyne Digital Imaging Inc., STEMMER Imaging AG, Eastman Kodak Company, Keyence Corporation, Hexagon AB, Qualcomm Technologies, and Allied Vision Technologies GmbH among others. Companies are adopting various key strategies to adopt a significant foothold in the market. Some of the key strategies are product launches, advancements, mergers and acquisitions, approvals, and many more.  

Segmentation Overview of the Global Machine Vision and Vision Guided Robotics Market

By Component

• Hardware
• Software
• Services

By Platform

• PC Based
• Camera-Based
• Vision Guided Robots

By Type 

• 1D
• 2D
• 3D

By Application 

• Positioning/guidance/location
• Identification
• Inspection and verification
• Gauging/measurement
• Soldering and welding
• Material Handling
• Assembling and disassembling
• Painting and dispensing
• Others

By Industry 

• Automotive
• Electrical & electronics
• Aerospace & Defense
• Food & Beverage
• Healthcare & Pharmaceutical
• Metal processing
• Warehouse & logistics
• Retail & E-commerce
• Others

By Region 

• North America
  • The US
  • Canada
  • Mexico
• Europe
  • The UK
  • Germany
  • France
  • Italy
  • Spain
  • Poland
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • South Korea
  • ASEAN
  • Rest of APAC
• South America
  • Argentina
  • Brazil
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA