ROBOTIC VISION MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

 

Robotic Vision Market Analysis:

The Robotic Vision Market is projected to exhibit a Compound Annual Growth Rate (CAGR) of 9.86% during the forecast period. The market's growth can be attributed to the increasing utilization of cognitive humanoid robots and the deployment of machine vision systems in various end-user segments, particularly the Automotive Industry.

Machine guidance systems employ 2D and 3D machine vision systems to enhance the precision and speed of assembly robots and automated material handling equipment, which play a critical role in engine chassis marriage operations. While the specific applications may vary depending on the vehicle or model being produced, the general categories of applications include robotics, dimensional gaging functions, assembly verification, flaw detection, paint job verification, and code reading.

Robotic vision equips robots with the ability to see, enabling them to supplement or replace manual inspection tasks through the use of cameras and image processing. The applications range from basic tasks such as presence detection to real-time inspection.

Manufacturing companies worldwide are recognizing the advantages of employing robotic vision systems, particularly in areas where precise execution of redundant tasks, such as inspection, is necessary. These systems play a crucial role in high-speed production lines and hazardous environments. The significant benefits offered by these systems include increased productivity, reduced machine downtime, and enhanced process control.

Considerable investments are required for the development of core components of robotic vision, including vision sensors and the underlying vision software. Additionally, the initial implementation cost of robotic vision is slightly higher, which may hinder the expansion of the market.

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