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"The robotic vision market is expected to grow at a CAGR of 10.8% during the forecast period of 2015-2020.”
The market is expected to grow from USD 3.10 billion in 2015 to USD 5.18 billion in 2020 at a CAGR) of 10.8%. The base year for study is 2014 and forecast period is from 2015 to 2020. Camera and smart camera are the key components in the Robotic Vision System. Demand for safety, reliability, implementable, and penetration are the major contributors of market growth.
“Asia-Pacific is expected to hold the largest market share during the forecast period”
The geographic segmentation categorizes the main regions of the world into North America, South America, Europe, Asia-Pacific (APAC), RoW. The APAC region is expected to hold the leading position by 2020 owing to industrialization in countries like Japan and China. North America is the major contributor in automotive industry while Europe has large base of industrial robots. Germany has the largest number of installed industrial robots. Manufacturing industries of Germany are heavily using robots with vision guidance for better quality production.
The research work involves primary as well as secondary sources. This research study involves extensive use of secondary sources such as study of annual reports, press releases, journals, and paid databases. Primary sources include interviews with experts from demand and supply side. The entire procedure includes the study of the financial reports of the top market players and extensive interview for key insights from industry leaders, such as CEOs, VPs, directors, and marketing executives.
Breakdown of profile of primary participants:
- By Company Type - Tier 1 – 35 %, Tier 2 – 45% and Tier 3 – 20%
- By Designation – C level –35%, Director level – 25%, Others – 40%
- By Region – North America - 45%, Europe – 20%, APAC – 30%, RoW – 5%
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