Robotic Vision Market is projected to experience a double-digit growth at a CAGR of 10.54% between 2018-2024

Knowledge Sourcing Intelligence announces the publication of a new report on “Robotic Vision Market - Forecasts from 2019 to 2024" to their offering. The concept of fully-automated industries to be fully functional, in the future, in almost every part of the world will provide an opportunity for the robotic vision market to thrive in the upcoming years, with the extensive use of robots. This report provides forecast and analysis of the robotic vision market which is estimated to grow at an impressive CAGR of 10.54% to achieve a market size of $5.303 billion by 2024.

The market is expected to propel in the forecast period owing to the advent of industrial automation due to advancements in technology. Additionally, the decline in the price of chips and sensors will further augment the market growth. The increase in demand for automation and surveillance is further fueling the market demand in the forecast period and in the coming years. The growing concerns regarding the safety of workers along with the strict regulations for worker’s safety are further propagating the market demand. Other factors driving the market growth include the rising demand for robotic vision technology across varied industry verticals coupled with the benefits provided by robotic vision. Examples include efficient packaging, efficient material handling, and operations that include the quality check. The growing automotive industry is further providing an opportunity for the market to thrive in the forecast period.

Geographically, North America and Europe regions are expected to hold a significant share owing to the early technology adopters resulting in the increase in demand for robotic vision technology for material handling applications in particular. Also, high labor costs and strict government regulations for the workers’ safety is further augmenting the market growth in these regions. On the other hand, in the APAC region, the market is expected to be the fastest-growing due to the rapid industrialization, and high infrastructure development. Additionally, increasing demand for processed and frozen foods in countries like China and India are propelling the market demand owing to ensuring the efficient food packaging and maintaining the brand quality with label verification.

Some of the major players covered as part of the report are Kawasaki Heavy Industries, Ltd., ISRA Vision AG, and FANUC America Corporation.

This report segments the robotic vision market as below:

• By Component
• Software
• Hardware
• Camera
• Robots
• Others

• By Application
• Packaging & Palletizing
• Material Handling
• Welding
• Others

• By Industry Vertical
• Electrical and Electronics
• Automotive
• Metal Processing
• Food Processing
• Others

• By Geography
• North America
• USA
• Canada
• Mexico

• South America
• Brazil
• Others
• Europe

• Germany
• France
• United Kingdom
• Spain
• Others

• Middle East and Africa
• Israel
• Others

• Asia Pacific
• China
• Japan
• South Korea
• India
• Others

Purchase complete report or request sample: www.knowledge-sourcing.com/report/robotic-vision-market

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Knowledge Sourcing Intelligence (KSI) is a market research and consulting firm publishing market research studies spanning across ten industry verticals. KSI has a team of experienced and young professionals with a singular focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports per year centering on the niche and latest technologies. We engage with key decision-makers and stakeholders across the value chain to provide clients with a detailed analysis and bird’s-eye view of the market with complete market dynamics, statistical forecasts, competitive analysis, key trends, market drivers and challenges and strategic recommendations for making informed decisions. Our success lies in the effort of our analysts who strive to meet client expectations by delivering quality work within the stipulated deadlines

This release was published on openPR.