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According to the latest research report published by The Insight Partners, titled “Machine Vision Laser Market Forecast to 2027 – COVID-19 Impact and Global Analysis,” the global machine vision laser market is expected to reach US$ 7,144.4 million by 2027, registering a CAGR of 8.5% during 2020–2027.
Machine Vision Laser Market in Europe Anticipated to Account Highest CAGR during Forecast Period
Europe comprises developed economies such as Germany, France, the UK, and Italy. The players operating in the machine vision laser market are witnessing significant growth across Europe, specifically in Germany due to the presence of well-established automotive sector. As per the European Automobile Manufacturers' Association (ACEA), vehicle manufacturing is an important industry in the European Union and ~18.5 million cars, vans, trucks, and buses are manufactured every year across Europe. In the automotive sector, machine vision lasers provide improved accuracy in various tasks such as picking and positioning parts of automobiles.
Manufacturers are focusing on automating their production processes due to the increasing shortage of skilled labor and reducing manufacturing prices of automobiles. Machine vision laser has the potential to transform production for increased throughput, quality, and productivity. Also, the presence of several machine vision laser providers is augmenting the growth of the market in Europe. For instance, LASER COMPONENTS (a German company) offers the FLEXPOINT laser series—including FLEXPOINT MVfemto, MVpico, and MVnano line laser models—for many industrial and machine vision applications. Food industry is also one of the major industries in this region. In this industry, automation helps reduce the contamination risk and benefits both customer and manufacturer. Automotive and electronics are a few of the industries driving the market in Europe. Automotive industry requires warehouse for storage and assembling purposes. These warehouses are equipped with robots with machine vision lasers that can perform various tasks such as inspection, verification, and reading of character blocks on engine. Also, an approx. budget of €17 billion has been allocated to the “Industrial Leadership” category of the European government’s Horizon 2020 R&D funding program, which has plans to invest in current manufacturing operations in the region. The budget is allocated to invest in key areas such as sensor technologies, robotics, and advanced computing. Such initiatives are further anticipated to bolster the growth of machine vision laser market in the region.
Key Findings of Study:
Vision-guided robotics systems have transformed the machine vision laser market dynamics. There has been a rapid increase in the use of industrial robots for automation in the automotive and consumer electronics industries, which is propelling the need for the integration of machine vision systems with vision-guided robot controllers. Machine vision laser systems enhance the efficiency of robots by allowing them to inspect and respond to their environments.
Automotive, pharmaceuticals, packaging, and food and beverages are among the prominent sectors where robotics automated systems are used, which fuels the demand for machine vision systems. Moreover, several techniques were introduced to automate the procedure of gripping parts of an industrial robot as a substitute to the existing manual part procurement. Due to the rapidly progressing machine vision technology, vision sensors these days are playing a vital role in the 3D robot positioning systems.
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