The robotic vision market was estimated to be worth USD 2.8 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 9.8% from 2024 to 2034, reaching USD 6.1 billion in 2034. Robots can now process and integrate visual input from their surroundings thanks to technology called robotic vision. The market is developing and sustainable since it is associated with a variety of sectors.
Robotic vision, sometimes referred to as machine vision, is a technology that enables robots to see their environment and communicate with objects in real life. To analyze visual data, it combines camera and vision technologies, such as 2D, 3D, and 4D vision technologies, with computer algorithms, such as contour-based, correlation-based, feature extraction, and cloud of points. It facilitates their ability to follow directions and complete tasks such as material handling, welding and soldering, assembling and disassembling, cutting, pressing, grinding, and deburring, measurement, inspection, and testing.

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GROWTH DRIVERS
The advances in AI and ML greatly improve the robotic vision system's capacity to process and analyze complicated visual inputs. The incorporation of deep learning algorithms facilitates pattern recognition, which empowers the robots to make more accurate decisions and adapt to novel surroundings. The world around us is changing because of three interrelated domains, according to the Stefanini: robots, artificial intelligence (AI), and machine learning. The combination makes it possible to create intelligent, flexible, and self-sufficient machines that are capable of carrying out a greater variety of activities than in the past.
Robots are able to see and comprehend their surroundings thanks to machine learning. Robots are able to recognize objects, follow their movements, and make decisions based on visual data by evaluating photos and movies taken by cameras. With increased accuracy and dexterity, robots can now recognize and interact with things in their surroundings. robotic vision is being used more and more in manufacturing and automation for tasks related to quality assurance, inspection, and assembly.
MARKET SEGMENTATION:
· By Type – 2D Vision systems, 3D Vision systems (Single & Multi-camera Triangulation, Time of Flight (ToF), Laser-based, Stereo Vision, Structured Light) 4D Vision Systems
· By Detection Algorithm- Contour-Based, Correlation-Based, Feature Extraction, Cloud of Points
· By Offerings – Hardware (Lighting, Processors & Controllers, Frame Grabbers, Cameras Optics Other Hardwares), Software (Traditional Software, Deep Learning Software) and Services
· By Application- Welding & Soldering, Assembling & Disassembling, Cutting, Pressing, Grinding, and Deburring, Measurement, Inspection and Testing, Identification & Feature Extraction, Material Handling, Painting and other Applications
· By End-User- Automotive, Electronics and Semiconductors, Aerospace and Defense, Food and Beverage, Pharmaceutical and Healthcare, Security and Surveillance and Other End-User Industries
· By Region- North America, Europe, Asia Pacific, The Middle East and Africa, South America
Global Key Players:
· Qualcomm Technologies, Inc.
· Keyence Corporation
· FANUC Corporation
· ABB Group
· Sick AG
· Hexagon AB
· OMRON Corporation
· Advantech
· ISRA Vision
· Xenics NV
· Cognex Corporation
· Other Players
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