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Robotic Vision Market Worth $5 Billion by 2021, Research and Markets Says

Published: Aug 31,2016

According to Research and Markets, the Robotic Vision Market is expected to be worth a little above $5 billion by 2021. Increase in the number of manufacturing and automation industries in the APAC region will be a key factor driving this market. The APAC region is expected to have the highest share in the robotic vision business by 2021.

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Robotic vision is a technology which encompasses a combination of vision algorithms, and cameras to provide vision-like ability for the robots. There are different technologies present which are specific to each application. Robotic vision allows the robot to perform very rudimentary functions as well a complicated functions.

Research and Markets noted that the automotive industry contributed to the largest share of the robotic vision market and it is expected that the automotive industry will continue to be the leading contributor to this market in the coming years. The automotive industry was the earliest adopter of robotic vision especially in Europe.

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