The vision-guided robotics software market is expected to grow to US$ 3,719.8 million by 2025 from US$ 894.4 million in 2016.
The market for vision-guided robotics software is influenced by various factors such as rapid adoption of technologically advanced robots in small and medium enterprises (SMEs) and increase in labor shortage and labor costs majorly in the developed countries as well as in few of the developing countries worldwide. Moreover, the integration of vision software makes the robots more flexible, accurate and increases the ability to act according to the situation. These factors are heavily impacting on the growth of vision-guided robotics software market during the forecast period. However, the deterrent factors, affecting the market growth is attributed to the lack of skilled operators in the developing regions, leading to less adoption of advanced robotics systems, and high installation costs, which is also limiting the procurement of vision-guided robots in the developing region. Nonetheless, the introduction of 3D vision technology is anticipated to boost the procurement in the established organizations and SMEs, resulting in market growth.
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Furthermore, various companies operating in the industry are researching on the development of robots and robotic vision, which is expected to increase the adoption of robots. Advancement of sensor technologies and processing power are enabling robots to take on more amorphous tasks such as driving, flying and mobile activities among others, which requires obstacle identification and avoidance capabilities through vision systems.
The vision-guided robotics companies across the globe are constantly focusing on developing advanced technologies that would enhance the automation scenario to a greater extent and help the manufacturing industries to intensify their process. Advancement of sensor technologies and processing power are enabling robots to take on more amorphous tasks such as driving, flying and mobile activities among others, which requires obstacle identification and avoidance capabilities through vision systems. The major areas for robot manufacturers to develop a robust vision-guided robot include fast increasing computing power, advancement in imaging hardware, improvement in high-level software libraries, and reducing the cost of computer memory. In addition, the advancement of machine vision will bolster the automation technology in the industrial sector in the coming years.
Due to continuous demand for highly efficient automation in automobile and consumer electronics segment across APAC, Europe, and North America region, the global vision-guided robotics software market is expected to foresee significant rise in terms of revenue share. During the forecast period 2017 – 2025, the APAC region will witness the highest CAGR followed by South America, North America, Europe, and MEA respectively.
The overall market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, the primary interview was conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert 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 software industry.
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Name: Sameer Joshi
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Organization: Premium Market Insights