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Vision Guided Robotics Market size is set to grow by USD 5.76 billion from 2024-2028, decline in electronic component prices boost the market, Technavio

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NEW YORK, June 19, 2024 /PRNewswire/ — The global vision guided robotics market size is estimated to grow by USD 5.76 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 12.14%  during the forecast period. Decline in electronic component prices is driving market growth, with a trend towards 3d-multi imaging and image scanning. However, battery life  poses a challenge. Key market players include ABB Ltd., Acieta LLC, Atlas Copco AB, Basler AG, Cognex Corp., Cross Co., DENSO Corp., FANUC Corp., GECKO ROBOTICS INC., General Electric Co., Invert Robotics Group Ltd., IPG Photonics Corp., Keyence Corp., OMRON Corp., Pleora Technologies Inc., Previan Technologies Inc., Qualitas Technologies Pvt. Ltd., Robotic Automation Systems, Teradyne Inc., and Yaskawa Electric Corp..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Vision Guided Robotics Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 12.14%

Market growth 2024-2028

USD 5761.1 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

10.49

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 49%

Key countries

China, US, Japan, Germany, and South Korea

Key companies profiled

ABB Ltd., Acieta LLC, Atlas Copco AB, Basler AG, Cognex Corp., Cross Co., DENSO Corp., FANUC Corp., GECKO ROBOTICS INC., General Electric Co., Invert Robotics Group Ltd., IPG Photonics Corp., Keyence Corp., OMRON Corp., Pleora Technologies Inc., Previan Technologies Inc., Qualitas Technologies Pvt. Ltd., Robotic Automation Systems, Teradyne Inc., and Yaskawa Electric Corp.

Market Driver

ai_trending_factor_new 

Vision Guided Robotics Market: This market encompasses robots equipped with cameras and sensors, utilizing advanced vision systems for pathfinding and object identification. Industrial trends drive the shift towards more independent robots, with the evolution from 2D to 3D vision systems. Vision Guided Robotics systems enhance production efficiency and ensure product quality by accurately identifying objects, even those randomly placed. Flexible robots, powered by advanced controllers, are increasingly adopted across various industries, including Automobile, Electrical & electronics, Healthcare & pharmaceutical, Aerospace & defense, Food & beverage, due to the need for automation, rising labor costs, labor safety concerns, and the ability to operate in hazardous environments and rough terrains. The technology’s flexibility, components, and hardware & software solutions contribute to cost savings, reduced complexity, and the elimination of customized tooling and setup processes. However, the market faces challenges such as rising energy costs and operational expenditure. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

ai_dominating_segment_factor_newVision guided robotics are a significant advancement in industrial automation, reducing operational costs, enhancing work efficiency, and ensuring higher precision in various industry verticals, including automobile, electrical & electronics, healthcare & pharmaceutical, aerospace & defense, food & beverage, and more. These robots, which are mostly battery-powered, offer flexibility and autonomy, making them ideal for warehousing and logistics. However, the need for longer battery life to support increased flexibility and diverse applications remains a challenge. This market trend is driven by rising labor costs, labor safety concerns, and the need for automation in hazardous environments and rough terrains. Additionally, customized robots are increasingly being adopted to address specific industry needs. Despite the rising energy costs and operational expenditure, investment pockets exist in this market due to the benefits offered.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This vision guided robotics market report extensively covers market segmentation by  

Application 1.1 Logistics1.2 Welding1.3 Inspection and cleaning1.4 PaintingType 2.1 2D-Vision2.2 3D-VisionGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Logistics-  In the diverse industries of food and beverage, warehouse and logistics, and others, the rising costs and energy consumption have necessitated increased investment in advanced technologies to enhance production efficiency and reduce human errors. Vision Guided Robotics (VGR) Market has emerged as a promising solution, integrating cameras, sensors, feedback indication, and robot controllers to enable robots to identify target locations and navigate complex production processes. VGR systems, utilizing vision-guided robotics technology, facilitate flexible robots in understanding the shape, size, and position of objects, thereby minimizing wastage of resources and improving quality. The integration of hardware components like cameras, actuators, and software solutions in VGR systems offers significant benefits to various industry verticals, including automobile manufacturing, by streamlining production processes and reducing the need for fixed tooling and design set up. Despite the initial cost and complexity, the long-term benefits of VGR systems make them a valuable investment for industries seeking to optimize their production processes and minimize human intervention.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

In the dynamic and evolving landscape of robotics technology, Vision Guided Robotics (VGR) has emerged as a significant trend, revolutionizing industrial automation. VGR systems integrate advanced cameras and sensors, providing robots with the ability to identify and navigate towards target locations with precision. Feedback indication and robot controllers ensure seamless operation. VGR finds extensive applications in various industry verticals, including Automobile, Electrical & electronics, Healthcare & pharmaceutical, Aerospace & defense, and others. Robots equipped with VGR technology address labor safety concerns, operate in hazardous environments, and traverse rough terrains. However, rising costs, particularly energy costs, necessitate the optimization of resources and the utilization of efficient Software solutions.

Market Research Overview

The Vision Guided Robotics market refers to the use of computer vision technology in robotic systems to enhance their capabilities and improve precision in various industries. These robots utilize cameras and artificial intelligence algorithms to identify objects, navigate environments, and perform tasks autonomously. The market for Vision Guided Robotics is growing rapidly due to the increasing demand for automation and the need for higher productivity in manufacturing, logistics, and other sectors. The technology offers benefits such as flexibility, improved accuracy, and reduced human intervention, making it an essential component of modern industrial processes. Applications of Vision Guided Robotics include pick-and-place operations, assembly, inspection, and quality control. The future of this market looks promising, with advancements in AI and machine learning expected to drive further innovation and growth.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationLogisticsWeldingInspection And CleaningPaintingType2D-Vision3D-VisionGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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DeepL unveils industry-first Glossary Generator to solve business communication and brand consistency challenges

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Enhanced DeepL glossary functionality – including new glossary generator, expanded language support and more – will boost global business translations, saving time, effort, and costs

COLOGNE, Germany, Sept. 23, 2024 /PRNewswire/ — DeepL, a leading global Language AI company, today announced several updates to its glossary feature, which is a powerful tool that enhances translation consistency and accuracy by enabling professionals and companies to personalize translations for specific terms. The tool now offers the industry’s first smart glossary generator, which helps simplify and speed up the process of creating glossaries for translations. Glossary is also available in several new languages and within DeepL’s browser extensions and integrations, fitting seamlessly into existing workflows to offer an even more accessible and smooth user experience across the web and applications like Google Workspace and Microsoft 365.

“AI-powered translations are essential for businesses looking to overcome language barriers in today’s increasingly connected world, and DeepL’s powerful glossary tool takes this a step further by ensuring translations are personalized to a company’s unique phrases and needs,” said Christopher Osborne, VP of Product, DeepL. “We’re always looking for ways to improve the DeepL experience and drive even more value and ROI for 100,000+ customers worldwide, and these new capabilities make our glossary even more efficient, accessible and user-friendly – empowering teams to achieve the customization and consistency they are looking for, while minimising time spent on costly alternatives like manual translations or find-and-replace tools.”

For global businesses aiming to drive revenue growth, investing in brand consistency across all communications and languages is essential to ensure that every message—whether technical terminology, product names, or branded terms—resonates clearly with teams, customers, and markets worldwide. Consistent branding has been proven to increase revenue by 20% or more[1] and enhance visibility by 3 to 4 times[2] – however, maintaining this consistency can be expensive and complex. DeepL’s glossary tool simplifies this process, helping businesses and professionals easily create and scale high-quality, consistent multilingual communications across teams. With glossary, companies can create and manage custom translation glossaries to ensure that specific words or phrases are translated consistently according to their unique terminology.

DeepL’s glossary now offers the following expanded capabilities:

The industry’s first smart, AI-powered glossary generator: DeepL’s new glossary generator is a first-of-its-kind tool enabling teams to create custom translation glossaries with a simple file upload. Previously translated files can be leveraged to generate entries for personalized DeepL glossaries, reducing the need for manual work and significantly enhancing efficiency, enabling teams to facilitate more consistent communication at scale.Expanded glossary language functionality: Glossary now supports Korean, Danish, Swedish, Norwegian, and Romanian translations, bringing the total number of languages to 16. This allows for more precise and nuanced translations across a wider range of linguistic contexts, helping businesses reach a broader audience.More convenient access across DeepL platforms: Users are now able to access and apply the glossary directly within the DeepL browser extensions for Chrome and Edge, enabling consistent translations across the web, including Google Workspace applications. Furthermore, the glossary can now also be applied directly within DeepL for Microsoft 365 integrations, including Word, Outlook, and PowerPoint. Additionally, the glossary can be accessed through DeepL’s web browser, desktop apps, and API.

Unlike other find-and-replace tools, DeepL’s glossary excels with its advanced contextual understanding and ability to process complex grammatical elements—such as case, gender, and tense—to deliver nuanced, natural-sounding translations. This results in substantial productivity gains, largely due to the time saved in post-editing. Blind tests with language experts show that DeepL reduces post-editing time by 30% compared to Google Translate and 20% compared to Chat GPT-4. Furthermore, DeepL requires significantly fewer edits, with Google Translate and Chat GPT-4 needing two to three times as many feedback rounds.

Glossary with DeepL Pro also offers enhanced data security, including proprietary data centers, the highest level of certification and compliance standards (ISO 27001 certification, GDPR/SOC 2 type 2 compliance), data encryption, and a commitment to never using Pro customer data to train models.

DeepL’s glossary generator is now available to Pro Advanced and Ultimate subscribers with support for TMX/DOCX/PDF files. It is initially available for glossaries in German, Spanish, Japanese, Italian, French, and Russian (to and from English), with more languages coming soon.

Learn more about DeepL Pro and try out glossary yourself here.

About DeepL

DeepL is on a mission to break down language barriers for businesses everywhere. Over 100,000 businesses and governments and millions of individuals in 228 global markets trust DeepL’s Language AI platform for human-like translation and better writing. Designed with enterprise security in mind, companies around the world leverage DeepL’s AI solutions that are specifically tuned for language to transform business communications, expand markets, and improve productivity. Founded in 2017 by CEO Jaroslaw (Jarek) Kutylowski, DeepL today has over 900 passionate employees and is supported by world-renowned investors including Benchmark, IVP, and Index Ventures.

[1] Marq, “2021 Brand Consistency Report”
[2] Demand Metric x Lucid Press, “Impact of Brand Consistency” Report, 2016

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SOURCE DeepL

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Agoda: Chinese Travelers Post a 137% Increase in International Searches for Upcoming Golden Week

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SINGAPORE, Sept. 23, 2024 /PRNewswire/ — Digital travel platform Agoda has revealed a 137% year-over-year increase in international accommodation searches from China for the upcoming Golden Week. China’s second Golden Week of the year takes place from 1 to 7 October.

Agoda’s accommodation search data reveals a shift in Chinese travelers’ preferences for Golden Week. Last year, the top five outbound destinations were Tokyo, Seoul, Osaka, Kyoto, and Bangkok, respectively. This year, Seoul has emerged as the number one destination, leapfrogging Tokyo. Bali is a new entry in the top five and takes third place. Bangkok and Osaka continue to be among the most searched destinations and complete the ranking in fourth and fifth, respectively.

Taking place from 1 – 7 October this year, Golden Week is a prime travel period for Chinese families looking to take advantage of the week-long break. Golden Weeks are celebrated twice a year in China, around Lunar New Year and China’s National Day.

Top Outbound Destinations for Golden
Week 2024

(Based on Agoda’s accommodation search data)

      1. Seoul, South Korea

      2. Tokyo, Japan

      3. Bali, Indonesia

      4. Bangkok, Thailand

      5. Osaka, Japan

Andrew Smith, Senior Vice President, Supply at Agoda said, “The increase in outbound travel searches for China’s Golden Week suggests a growing confidence among Chinese citizens to explore international travel. It’s great to see destinations close to China’s east coast like Seoul and Osaka featured in the rank, as well as holiday favorites Bangkok and Bali further south.  With the unique advantage of its ‘Asia hotels’ network, Agoda is committed to helping Chinese customers to experience the rest of Asia for less with its great value deals.”

Agoda continues to support travelers by offering over 4.5 million holiday properties globally, more than 130,000 flight routes, and over 300,000 activities, all of which can be conveniently combined in the same booking. For more information on travel options during China’s Golden Week, visit agoda.com or download the Agoda app.

About Agoda

Agoda, a digital travel platform, helps anyone see the world for less with its great value deals on a global network of 4.5M hotels and holiday properties worldwide, plus flights, activities, and more. Agoda.com and the Agoda mobile app are available in 39 languages and supported by 24/7 customer support.

Headquartered in Singapore, Agoda is part of Booking Holdings (Nasdaq: BKNG) and employs more than 6,900 staff in 25 markets, dedicated to leveraging best-in-class technology to make travel even easier.

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SOURCE Agoda

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AECOM supports the Highways Department in winning the Hong Kong Institute of Surveyors Awards for innovative road safety technology

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HONG KONG, Sept. 23, 2024 /PRNewswire/ — AECOM, the world’s trusted infrastructure consulting firm, today announced that a Road Defect Detection System (RDDS) technology it has developed in partnership with the Highways Department of HKSAR Government (HyD) has secured two prestigious awards from the Hong Kong Institute of Surveyors (HKIS). This RDDS project, under part of the award-winning topic “Sustainability Strategy in Road and Tree Inspection by Advanced Geo-spatial Technology,” integrates advanced geographic information system (GIS) and artificial intelligence technologies to automatically detect road defects. The new technology aims to streamline the road inspection process, improving maintenance efficiency, effectively allocating resources and helping ensure public safety.

“AECOM is dedicated to delivering innovative solutions that meet our clients’ specific needs and address their complex challenges. From deploying the world’s largest tunnel boring machine for the Tuen Mun-Chek Lap Kok Link project to integrating GeoAI in our Road Defect Detection System, we harness emerging technologies to support the Highways Department in delivering landmark projects that span tunnels, bridges, highways, and now digital solutions,” said Ian Chung, chief executive of AECOM’s Asia region.

The jointly developed RDDS technology responds to the pressing need to effectively survey Hong Kong’s vast and complex road network. To provide a superior alternative to traditional inspection methods, the AECOM and HyD teams developed an approach that automatically detects defects from road images captured by a vehicle-based camera system.

Integrating the two organizations’ geospatial expertise, the technology uses AI to identify cracks and discolored road markings from road images, which can then be viewed on a web application platform that integrates data such as quantity, location, and severity for engineers to review and assess. The multi-step system simplifies the inspection process and allows for more efficient resource allocation — bringing greater efficiency to HyD’s road maintenance work and supporting a safer road network.

The HKIS honored the technology with the Innovative Surveying Award, which commends industry participants for outstanding project quality in innovative surveying technology, and the Post-occupation Category Grand Award, which recognizes the surveyors’ efforts in enhancing work efficiency and precision through innovative technology at post-occupation stage.

The HKIS Awards aim to recognize the outstanding achievements of Hong Kong surveyors. The awards align with the Sustainable Development Goals set by the United Nations, affirming surveyors’ exceptional accomplishments in sustainable development projects and their contributions to improving environmental outcomes and promoting a sustainable future for Hong Kong.

For more details about the project, please visit here.

 

 

About AECOM 

AECOM is the world’s trusted infrastructure consulting firm, delivering professional services throughout the project lifecycle – from advisory, planning, design and engineering to program and construction management. On projects spanning transportation, buildings, water, new energy and the environment, our public- and private-sector clients trust us to solve their most complex challenges. Our teams are driven by a common purpose to deliver a better world through our unrivaled technical and digital expertise, a culture of equity, diversity and inclusion, and a commitment to environmental, social and governance priorities. AECOM is a Fortune 500 firm and its Professional Services business had revenue of US$14.4 billion in fiscal year 2023. See how we are delivering sustainable legacies for generations to come at www.aecom.com/hk/.

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SOURCE AECOM

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