The APAC vision guided robotics software market accounted for US$ 499.9 Mn in 2018 and is expected to grow at a CAGR of 16.4% over the forecast period 2019-2027, to account for US$ 1,934.9 Mn in 2027.
Factors including growing acceptance of vision guided robots are significantly is driving the vision guided robotics software market. However, lack of skilled operator in the developing countries across region is impeding the market growth. Mounting demand of technological proficiencies of 3D machine vision is opportunistic for the growth of the market. The major manufacturing companies in several countries across the globe are adopting smart technologies heavily with an objective to reduce day to day challenges.
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To meet the boosting requirement of the customers the industries are focusing on advanced imaging technology to make the work easier and simple. Recently the robotic system is incorporated with 3D vision technology which provides more features as compared to 2D vision technology. The introduction of machine vision software into 3D vision-guided technology robots is expected to increase the skills of the automated system during random bin picking, packaging heavy materials and assembling different parts of machinery among others.
The new capabilities of 3D vision-guided robots are they can detect the overall orientation of an object which permits the end user to make an intelligent and real-time decision associated with the automation system depending upon the input of available visual data. The significant advantage of 3D vision technology is that this technology can be used on any surface and environment, enabling the robot to distinguish randomly placed objects and place it on the desired place. This procedure is known as bin picking or pick and place. One of the most prominent applications of robots integrated with 3D vision.
The APAC vision guided robotics software market is fragmented with the presence of several industries and the competitive dynamics in the market is expected to change during the upcoming years. In addition to this, various initiatives are undertaken by the governmental bodies to accelerate the vision guided robotics software market further. For instance, APAC owing to huge demand from various industries in the region as well as internationally. The rise in demand for advanced robotic solutions in the Asia Pacific accounted for the significant rise in the automobile industry, electrical or electronics industry, and metal industry among others. As per the International Federation of Robotics (IFR), the robot manufacturer present in Japan delivered around 56% of the global supply of industrial robots in 2017. Similarly, the robot sales in Japan is increased to 45,566 units, i.e. increased by about 18% in the year 2017 as compared to the previous year. The APAC region is anticipated to be the fastest growing during the forecast period globally, due to the enormous demand for Chinese, Korean and Japanese robotic solutions from different parts of the world. These initiative provide various benefits to the APAC vision guided robotics software based companies located in the region thus, increasing the growth of vision guided robotics software markets. This initiative provides multiple benefits to the companies present in this region and thus increasing the growth of vision guided robotics software market in the region.
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On the basis of application, the palletizing & machine tending segment is leading the vision guided robotics software market. However, the collaborative robots segment are anticipated to grow at a highest CAGR. Collaborative robots also known as cobots are planned to physically interact with human sharing the same workplace. These robots are fully autonomous or operated by minimum guidance. The collaborative robots are deployed in industries for various purposes such as machine tending, packaging and material handling among others since these cobots are capable of heavy duty as well as light operations. The cobots are highly flexible, accurate and precise, which makes them attractive in their respective workspaces. In addition, these robots are more accessible to reprogram, reconfigure, and easier to maintain over. Advancement in cloud robotics is expected to enhance information sharing capability among these collaborative robots, and ultimately these cobots will be able to act according to their information library. The manufacturers such as FANUC Corporation, Kawasaki, Kuka, and Denso Technologies among others are investing considerable amounts to enhance the capabilities of collaborative cobots. These factors are expected to drive the 3D vision guided technology in the coming years, and thus boosting the market growth for vision guided robotics software market in the future.
The overall APAC vision guided robotics software market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the APAC vision guided robotics software market. It also provides the overview and forecast for the vision guided robotics software market based on all the segmentation provided with respect to APAC region. Also, primary interviews were 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 consultant such as valuation experts, research analysts and key opinion leaders specializing in the vision guided robotics software industry. Some Fof the players present in vision guided robotics software market are ABB Ltd., Fanuc Corporation, Robotic Vision Technologies, Inc., iRobot Corporation, MVTec Software GmbH, Pick-it N.V., Recognition Robotics Inc., Vision Nerf S.A., Nachi Robotic Systems, Inc., and KUKA Robot Group among others.
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This post was originally published on Space Market Research