DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Robotic Vision Market - Forecasts from 2016 to 2021" report to their offering.
Global Robotic Vision Market is projected to witness CAGR of 11.63% over the forecast period to reach US$6.892 billion by 2021, increasing from US$3.562 billion in 2016.
Advancement in technology, declining prices of chips and sensors, and growing demand for automation and surveillance are some of the key factors that are propelling the growth of global robotics vision market. There is a high demand for this technology for material handling, packaging, and palletizing application owing to stringent regulations regarding workers' safety.
The increasing use of robotic vision solutions for efficient packaging, material handling, and quality check operations is spurring the demand for these systems across various industries. Automotive industry makes use of robotics vision technology for manufacturing and assembling of vehicle parts, and has been witnessing moderate growth globally; thereby spurring up the demand for robotic vision solutions.
Europe is witnessing a significant rise in the demand for these systems particularly for material handling application due to high labor costs and stringent government regulations to provide safer working environment. However, Asia Pacific is anticipated to witness the fastest market growth due to factors such as rapid industrialization, high infrastructure development and growing concerns about workers' safety. Rising demand for processed and frozen food products in emerging economies such as China and India will further fuel this regional growth to ensure vision supported packaging of food in harsh environments along with label verification and brand quality.
- Smart Camera
By Industry Vertical:
- Metal Processing
- Food Processing
- ABB Ltd.
- Amazon Robotics
- Cognex Corporation
- ISRA VISION AG
- KUKA Robotics
- Kawasaki Robotics
- Sick AG
For more information about this report visit http://www.researchandmarkets.com/research/pg5pcp/robotic_vision