Artificial Intelligence
The Global Robotic Vision Market size is expected to reach $3.8 billion by 2028, rising at a market growth of 9.3% CAGR during the forecast period
New York, June 28, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Robotic Vision Market Size, Share & Industry Trends Analysis Report By Component, By Application, By Industry, By Type, By Deployment, By Regional Outlook and Forecast, 2022 – 2028” – https://www.reportlinker.com/p06289283/?utm_source=GNW
In recent years, there have also been examples of communicating with humans and item manipulation. Specialists examine some of the work that has gone beyond using artificial landmarks and calibration markers to create vision-based control in robots in this study. It goes over many application areas from a systems perspective as well as specific difficulties like object tracking and recognition.
For scholars and professionals working in the domains of machine vision, image processing, and pattern recognition, Vision in Robotics is an ideal and up-to-date resource. Its comprehensive bibliography is a significant resource for the current study.
Robots are blind technologies that operate as per their programming without robotic vision. They strictly adhere to the coding that defines their functions, making them suitable for repetitive activities that are physically demanding and difficult for humans. Now that Industry 4.0 has here, robots are evolving as well. It would allow companies to stay up with the fourth industrial revolution’s demands and tendencies. The development of a robot vision system for collaborative robots is important to the advancement of robotics. Machine or robot vision is a major component of this progress, allowing clever automated operations to achieve new levels of precision and accuracy.
COVID-19 Impact
COVID-19 has had a significant impact on all industries and the global economy. Lockdowns have been ordered around the world to stop its spread. In the early stages of the pandemic, the complete lockdown severely disrupted the livelihoods and quality of life of many people around the world. Therefore, supply chains have been disrupted throughout the world. A significant drop in product demand has negatively affected the world’s economies. A lack of basic materials has resulted from the pandemic, mainly due to a drop-in exports and supply chain disruptions.
Market Growth Factors
Robotics Vision Enhances Automation and Quality Management
Industrial quality control is an important procedure, and increasing it may usually help a company minimize waste and increase efficiency. Extending quality control is frequently a labor-intensive and difficult-to-automate operation. While adding additional quality checks to a manufacturing process is normally desired, allocating labor to these checks is not always feasible. Human workers make mistakes as well, particularly when the labor is monotonous or repetitive. Some sorts of visual inspection, such as ensuring that each bottle in the manufacturing line is filled to a given point, might be extremely difficult for a human operator to repeat with accuracy over and over again.
Accessibility and versatility of the robotics visions
Some vision systems are built right into robot arms, while others require direct attachment to a robot wrist or arm to function properly. The systems that can be put outside, apart from robot are the perfect choices, to increase the number of possible deployment scenarios. A well-placed externally mounted camera, for example, might be used to check on the state of the equipment affecting food goods, allowing to time cleaning procedures more precisely. External mounting not only avoids the problem of wires running alongside the robot, but also enhances cycle time. The robot can work on something else while the vision system captures and processes images.
Market Restraining Factors
Robot Vision Connectivity Difficulties and Initial Cost
Considering the current industrial progress, integrating robot arms with robotic vision is a difficult task. If the end client does not have sufficient engineering expertise, professional system integrator assistance would be required. Precision and cycle time would be given top priority while evaluating the viability of automation needs. The predicted production cycle can be used to evaluate production capacity and compute the return on investment, and sufficient precision can ensure the correctness of each step (ROI). Whenever a target is positioned using vision, many factors influence accuracy rate, including picture quality, placement algorithm, hand-eye relationship correction errors, camera lens correction errors, arm repeating precision, absolute accuracy, and so on, which can only be effectively evaluated by experienced robot vision technicians.
Component Outlook
Based on Component, the market is segmented into Hardware and Software. The Hardware segment acquired the largest revenue share in the robotics vision market in 2021. It is due to the number of components in a robotics vision system, including lighting, lenses, image sensors, vision processing, and communication. Using lighting, the camera is able to see clearly the features of the part being examined. A robotics vision camera’s sensor converts light into a digital photo, which is then sent to a processor. The sensor captures light from the lens and delivers it to the sensor.
Application Outlook
Based on Application, the market is segmented into Material Handling, Packaging & Palletizing, Assembling & Disassembling, Painting, Cutting, Pressing, Grinding, & Deburring, Welding & Soldering, and Measurement, Inspection, & Testing. The Packaging & Palletizing segment recorded a substantial revenue share in the robotics vision market in 2021. It is due to the process of loading an object, such as a corrugated box, in a predetermined arrangement onto a pallet or similar equipment. Depalletizing is the process of unloading a loaded object in the opposite direction. Many industries and businesses now use some sort of palletizing robot technology to automate their operations. Robotic palletizing technology boosts productivity and profits while allowing for greater product flexibility and longer run times.
Industry Outlook
Based on Industry, the market is segmented into Electrical & Electronics, Metals & Machinery, Precision Engineering & Optics, Automotive, Pharmaceuticals & Cosmetics, Food & Beverages, Chemical, Rubber, & Plastic, and Others. The Electrical & Electronics system procured the highest segment revenue share in the robotics vision market in 2021. Through non-tactile sensing, vision is utilized to find electronic components and perform testing and inspection. Electronic gadgets are tracked by robot controllers as they go through the production line.” In electronics and semiconductor work cells, tool changers help robots multitask better.
Type Outlook
Based on Type, the market is segmented into 2D Vision Systems and 3D Vision Systems. The 3D vision system segment registered a substantial revenue share in the robotics vision market in 2021. It is due to the pick and place applications utilization of 3D robotic vision. Even though the position and location of the parts vary, 3D vision allows a robot to determine the direction of a part that has to be handled more effectively. Part assembly and inspection are another prominent use of 3D vision in robotics. A 3D vision system can precisely direct a robotic arm during assembly, and a robotic arm can provide a 3D camera with numerous viewing angles for important assembly inspection.
Deployment Outlook
Based on Deployment, the market is segmented into Robotic Guidance Systems and Robotic Cells. The Robotic Guidance Systems segment acquired the highest revenue share in the robotics vision market in 2021. It is due to the employing 3D vision systems developed for object detection and recognition is a critical component of industrial production process optimization. SICK’s robot guiding systems make it simple and affordable for users to make use of this advanced technology. The systems are distinguished by their dependable and user-friendly design. They can easily be integrated into current surroundings, give high-precision measurement findings, and so play an important role in making part management more adaptable than ever before.
Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia pacific region dominates the largest revenue share in the robotics vision market in 2021. China will have the highest share of the APAC smart robotics market by 2020. The production value of service robots in Shenzhen climbed by 21.79 percent year on year to almost USD 5.06 billion in 2018, according to the 2018 white paper on Shenzhen’s Robot Industrial Development. For the first time, China’s government designated service robots as a significant area for development in its 12th Five-Year Plan, which was released in 2011. A robot named Youxiaomei served attendees with water and tea during the 7th China Information Technology Expo in 2019. China is the world’s largest automobile manufacturer, according to the International Organization of Motor Vehicle Manufacturers (OICA), with Japan importing the most vehicles. As a result, industrial robots are in high demand.
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; FANUC Corporation and Keyence Corporation are the forerunners in the Robotic Vision Market. Companies such as Cognex Corporation, Omron Corporation and Hexagon AB are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cognex Corporation, ISRA Vision AG, Basler AG, Omron Corporation, National Instruments Corporation, Teledyne Technologies, Inc. (Teledyne DALSA), Keyence Corporation, FANUC Corporation, Hexagon AB, and Sick AG.
Recent Strategies Deployed in Robotic Vision Market
Partnerships, Collaborations and Agreements:
Jun-2021: Sick AG formed a partnership with Vention, a next-generation manufacturing automation platform. Under this partnership, the companies aimed to integrate SICK’s PLB and PLOC2D systems within Vention’s production automation medium to boost the design and deployment of applications customized for robot advice systems. Additionally, the partnership would provide benefits to consumers searching for modular robotic solutions along with Vention’s AI-enabled and cloud-based medium, consumers would be capable to design, order, and create custom tools to enhance manufacturing procedures.
May-2021: Hexagon AB came into a partnership with Plex Systems, the superior in cloud-delivered smart manufacturing solutions. This partnership would allow Hexagon’s Manufacturing Intelligence unit and Plex to co-sell Plex MES to Hexagon production consumers, allowing them to take management of the plant floor through full clarity and connectivity and discover the promise of Industry 4.0.
Mar-2021: Teledyne e2v, a subsidiary of Teledyne Technologies company joined hands with Yumain, a dominant AI vision solution supplier providing a wide range of industrial applications. Through this collaboration, the companies aimed to integrate Teledyne image sensor abilities associated with custom AI expertise would enable Teledyne to create AI-based concept solutions which would be easily available to industrial consumers and convey advantages to their applications.
Dec-2020: FANUC came into a partnership with Plus One Robotics, a team with advanced robotics and software engineering at its core. Through this partnerships, Plus One joined the certified System Integrator network as a System Solution Consultant, and Plus One technology is a great addition to reinforce robotics. Additionally, the companies aimed to integrate strengths with other enterprises in the logistics, warehouse segments, and e-commerce.
Oct-2020: SICK came into a partnership with Microsoft, the largest vendor of computer software in the world. Through this partnership, the companies aimed to improve the Visionary-T camera product line from SICK with Azure Intelligent Cloud and Intelligent Edge abilities. Additionally, a partnership with Microsoft would boost execution and more cost-effective for consumers.
Sep-2020: Basler came into a partnership with Axiomtek, one of the world’s leading designers and manufacturers of industrial computer products. Together the companies aimed to provide combined, all-in-one machine sight solutions for industry and machine automation. Additionally, Axiomtek and Basler assist producers and system integrators in rapidly establishing quality examination applications to make industrial procedures more productive and competitive.
Product Launches and Product Expansions:
May-2022: Teledyne introduced a Sapera Vision Software Edition 2022-05 to its prevailing Astrocyte and Sapera Processing packages. The new Sapera Vision Software Edition 2022-05 allows the consumer to notice the smallest flaws in big pictures at indigenous resolution. Moreover, the recent update has added enhanced abnormality detection algorithms, live video purchase from frame grabbers, and new features that offer improved performance and an adequate consumer experience.
May-2022: FANUC launched DR-3iB/6 STAINLESS Delta Robot, the first stainless steel food-grade delta robot for gathering and wrapping primary food products. The DR-3iB/6 STAINLESS Delta Robot meets USDA and FDA food safety standards and establishes a new standard for robotic food operation such as cargo, reach, pace, and sanitation. Additionally, the robot features a completely encompassed stainless steel body that is immune to the chemicals and high pressure & temperatures needed in tough wash-down circumstances.
Mar-2022: Cognex Corporation unveiled DataMan 280 series, permanent-mount barcode readers. The DataMan 280 presents a high-resolution sensor integrated with a powerful image creation system to enhance code coverage and administration. Additionally, DataMan 280 together with connectivity feature Industry 4.0 production requirements, enables the consumer to interpret tough barcodes accurately while enhancing entire equipment effectiveness and bandwidth.
Mar-2022: Keyence expanded its portfolio of precision measurement technologies with the launch of LM Series, a new, high-accuracy image dimension measurement system. This series can be programmed with on-screen assistance available, and it would be managed with just one button.
Oct-2021: Omron unveiled the VT-S10 series, the first PCB inspection system that uses innovative, multi-dire, and advanced AI. The VT-S10 series 3D AOI system as well as dominating quick speed 3D CT AXI abilities, assist enhance the entire capacity of the production process, accomplishing zero-fault products, and realizing considerable labor conservations. Additionally, imaging techniques and AI to best automatize the high-accuracy review method for electronic groups, maximize implementation and undervalue skill-level needs.
Sep-2021: SICK introduced Ruler3000, the latest expansion of 3D streaming cameras. The Ruler3000 evoke the real 3D form of an object, despite its distinction or color, as well as simultaneously grasping greyscale and spread light proportions, so image processing and measurement accuracy can be advance. Additionally, the Ruler3000 can process up to 15.4Gp/s to allow up to 7,000 full-frame 3D shapes per second.
Apr-2021: SICK unveiled its first vision camera with a pre-installed Deep Learning app onboard. This camera aimed to make it easy to develop custom quality inspections of complicated or irregular-shaped goods, packaging and assemblies. With the implementation of the Intelligent Inspection App onto SICK’s Inspector P621 deep learning camera, SICK would enable users to buy ready-made package, which utilizes artificial intelligence to operate complex vision inspections with ease.
Mar-2021: Omron Corporation launched the FH-SMD Series 3D Vision Sensor, tiny and light sufficiently to be installed on a robot arm. The FH-SMD Series 3D Vision Sensor can be moved to change perspectives and efficiently identify parts, lowering blind areas and providing trustworthy identification. Moreover, the sensor permits part detection in roughly 0.4 seconds irrespective of the condition and area.
Jan-2021: Cognex Corporation launched In-Sight 3D-L4000, an embedded vision system. The new In-Sight 3D-L4000 enables consumers to position vision tools immediately on a 3D image of the part, it provides better precision contrast to authentic systems, amplifying the range of analysis that can be executed. Additionally, In-Sight 3D-L4000 appear in three factories graded area of view and is dominant for applications around a variety of companies such as consumer products, food and beverage, wrapping, medical equipment, automotive, and electronics.
Jan-2021: Omron Corporation introduced the i4 series SCARA robot. The robot allows consumers to construct positively effective tools by combining and managing the end effector and peripheral machines at a high pace and with increased accuracy with a “Robotic Integrated Controller. Additionally, The i4 series SCARA robot features high precision, ease of integration, flexibility and high uptime.
Nov-2020: Hexagon introduced OPTIV Lite 3.2.2, entry-level multisensor coordinate measuring machine. The OPTIV Lite 3.2.2 delivers high precision, pace, and smart technology ability to entry-level optical CMMs. Additionally, CMM permits producers to keep up with the rapid growing smart factory and make potentially cost-saving procedure advancements, all while guaranteeing dependable and convenient examination results.
Oct-2020: Omron Automation Americas, a subsidiary of Omron Corporation introduced Robotic Integrated Controller, which first completely synchronizes automation technology. Robotic Integrated Controller allows developing automation technology by eliminating manual work and easing the production ecosystem. In addition, the solution would streamline developed and complicated manual work that would require to be achieved by human employees
Jun-2020: FANUC Corporation introduced 3DV/1600 vision sensor, a new vision sensor for robotic warehousing applications. The new sensor offers fast click 3D images over a Z field of 2 meters, with a max area of view of 2700mm square, which is perfect for container picking or line following large parts. Additionally, The 3DV/1600 is part of Fanuc’s iRVision portfolio of completely combined and wide machine vision products for robot advice and examination.
Acquisitions and Mergers:
Aug-2021: The Hexagon AB came into an agreement to acquire Wuhan Zhongguan Automation Technology. This acquisition aimed to enhance Hexagon’s capabilities in the field of 3D data acquisition and further expand Hexagon’s solution portfolio in the field of intelligent manufacturing. Through this acquisition, Zhongguan would combine with Hexagon Manufacturing Intelligence Unit.
Scope of the Study
Market Segments covered in the Report:
By Component
• Hardware
• Software
By Application
• Material Handling
• Packaging & Palletizing
• Assembling & Disassembling
• Painting, Cutting, Pressing, Grinding, & Deburring
• Welding & Soldering
• Measurement, Inspection, & Testing
By Industry
• Electrical & Electronics
• Metals & Machinery
• Precision Engineering & Optics
• Automotive
• Pharmaceuticals & Cosmetics
• Food & Beverages
• Chemical, Rubber, & Plastic
• Others
By Type
• 2D Vision Systems
• 3D Vision Systems
By Deployment
• Robotic Guidance Systems
• Robotic Cells
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Cognex Corporation
• ISRA Vision AG
• Basler AG
• Omron Corporation
• National Instruments Corporation
• Teledyne Technologies, Inc. (Teledyne DALSA)
• Keyence Corporation
• FANUC Corporation
• Hexagon AB
• Sick AG
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
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Riyadh leads the GCC’s rise as a retail innovation hub, hosting global retail leaders to address market resilience, AI-powered growth, and sustainabilityPanda Retail Company joins as a Strategic Partner and Apparel Group as a Headline Partner to support the Forum’s focus on ‘Rebuilding a Shared Future’The Forum marks the next phase of the Retail Leaders Circle’s decade-long mission to connect and empower leaders within the retail sectorRIYADH, Saudi Arabia, Oct. 1, 2024 /PRNewswire/ — The RLC Global Forum will hold its inaugural Annual Meeting on February 4-5, 2025, in Riyadh, a landmark event for the global retail sector. As the GCC strengthens its position as a hub of resilience and growth, fueled by Saudi Arabia’s Vision 2030, the Forum will bring together the world’s leading retailers, policymakers, investors and innovators to discuss the future of the industry, driven by AI, sustainability, and global collaboration.
Under the theme “Rebuilding a Shared Future,” the RLC Global Forum will tackle the most pressing challenges facing global retail today, including technological transformation, cross-border commerce, market resilience, and geopolitical shifts. The Forum will serve as a critical platform for fostering cross-industry partnerships and innovative strategies to drive the sector forward.
“Our evolution into the RLC Global Forum reflects a broader, more inclusive vision for the global retail sector,” said Panos Linardos, Chairman of the RLC Global Forum. “This inaugural Annual Meeting will offer unique insights into how we can navigate the complex landscape of retail, from AI advancements to building sustainable and inclusive industry growth.”
Panda Retail Company, one of the top retail chain businesses in the Middle East and the lead grocery retailer in Saudi Arabia, joins as a strategic partner. “Our strategic alliance with the RLC Global Forum marks Panda’s dedication to innovation and excellence in the grocery sector,” said Dr. Bander Hamooh, CEO of Panda Retail Company. “We look forward to leveraging this partnership to pioneer new solutions and advance the retail landscape in Saudi Arabia.”
Additionally, the multi-award-winning global fashion and lifestyle retail powerhouse, Apparel Group, joins as a Headline Partner. “At Apparel Group, we are always eager to foster discussions on crucial themes that impact both the global landscape and our industry,” stated Sima Ganwani Ved, Founder and Chairwoman of Apparel Group. “Our strategic partnership with the RLC Global Forum highlights our commitment to engage with pivotal topics and drive meaningful dialogue that shapes the future of retail and beyond.”
The inaugural 2025 RLC Global Forum promises to be a defining event, setting the stage for retail’s next chapter of innovation, collaboration, and growth.
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Artificial Intelligence
Cyber-Physical Systems (CPS) Market worth $255.3 billion by 2029 – Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., Oct. 1, 2024 /PRNewswire/ — The global cyber-physical systems market is expected to be valued at USD 124.1 billion in 2024 and is projected to reach USD 255.3 billion by 2029; it is expected to grow at a CAGR of 15.5% from 2024 to 2029 according to a new report by MarketsandMarkets™. Higher growth in industrial automation coupled with the influence of IoT is boosting the growth of the cyber-physical systems market. The growth of the industry of industrial automation is mainly influenced by the importance of the integration of cyber-physical systems and the Internet of Things. CPS involve the connectivity of sensors and actuators, which improves manufacturing efficiency and flexibility while heightening the operational capabilities of a factory, thus a shift toward smart factories in the industry 4.0 era. The influence of IoT will further be the enablement of real-time data exchange along with advanced analytics on predicting maintenance and optimization of resources that would make automation faster. The CPS systems are expected to expand rapidly with each adoption in the various industries across the market because of the inherent innovations coupled with competitiveness across a number of industries.
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Browse in-depth TOC on “Cyber-Physical Systems (CPS) Market” 210 – Tables70 – Figures298 – Pages
Cyber-Physical Systems (CPS) Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 124.1 billion
Estimated Value by 2029
$ 255.3 billion
Growth Rate
Poised to grow at a CAGR of 15.5%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Type, Vertical and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Complexities associated with integrating various components
Key Market Opportunities
Rising preference for sustainable energy
Key Market Drivers
Growing trend of industrial automation
The operational technology (OT) holds a significant share in cyber-physical systems market.
The operational technology (OT) segment holds a significant share in the cyber-physical systems market due to higher demand from process industries such as oil & gas, chemical, and petroleum. This technology enables these industries to manage and control critical industrial processes in real time. These systems integrate hardware and software that collects the data, visualizes it, and takes control of the processes. Also, the industries such as energy and manufacturing rely on OT for performing operations such as process control, safety management, and monitoring. Furthermore, integrating OT with IT systems has enhanced the execution of complex industrial tasks. As industries increasingly adopt automation and smart technologies, the reliance on robust OT systems ensures its substantial share in the CPS market.
Digital twin technology to exhibit the highest growth rate in the cyber-physical systems market.
The digital twin is anticipated to hold the highest growth rate in the cyber-physical systems market. This is attributed to their unique gadgetry, which completely transforms how industries manage and optimize their assets. Digital twins can imitate real-life systems, allowing businesses to monitor, predict and simulate how they operate in real-time. This capacity is vital in sectors such as manufacturing, healthcare, and aerospace, where there is an emphasis on the careful handling of machines and techniques. The emergence of Industry 4.0 kindled by the expanding incorporation of AI with IoT technologies, has since contributed to expediting the use of digital twins due to their ability to facilitate preventive maintenance, reduce downtimes, and enhance the decision-making process among manufacturers. Given that organizations are increasingly leaning towards productivity improvement ideas, demand for digital twin technology will be expected to keep rising, resulting in the highest CAGR in CPS markets throughout the forecast period.
Manufacturing vertical dominates the cyber-physical systems market over the forecast period.
Manufacturing is the largest vertical of the cyber-physical systems market, as heavy machinery works with advanced automation technologies to implement the most modern manufacturing process. Smart manufacturing avails itself of CPS technologies such as IIoT, robotics, and digital twins, enabling capabilities like real-time monitoring, predictive maintenance, and optimized production workflows. These are really important to enable companies to compete in a global marketplace, supporting manufacturers in increasing their efficiency, reducing charges, and offering better quality products. The emphasis on digitalization and the integration of manufacturing systems propagated by Industry 4.0 has positioned CPS technologies as the dominant sector in the market, especially for manufacturing.
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North America region holds the largest share of cyber-physical systems market during the forecast period.
North America holds the major share of the cyber-physical systems industry due to the presence of key players in the region. The region is strategically vital for advanced R&D initiatives focusing on transformational technologies such as IIoT, smart grids, and autonomous systems. Steadily rising demand from manufacturing, automotive, and healthcare sectors eager to adopt and implement new and transformative technologies constantly pushes innovation. In addition to this, early adoption of the practices of Industry 4.0 across the region, along with a regulatory framework favorable to encouraging innovation in technologies, has enabled North America to continue dominating the global cyber-physical systems market.
Key Players-
The report profiles key players in cyber-physical systems companies such as ABB (Switzerland), Honeywell International Inc. (US), Rockwell Automation (US), Schneider Electric (France), Siemens (Germany), Continental AG (Germany), General Electric Company (US), Hitachi, Ltd. (Japan), Toshiba Corporation (Japan), and Robert Bosch GmbH (Germany) among others. These players have a strong market presence in cyber-physical systems across various countries in North America, Europe, Asia Pacific, and the Rest of the World (RoW).
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Artificial Intelligence
Matterport Fall 2024 Release: Insights Meets Imagination elevates the platform with generative AI and more
Matterport introduces essential new tools for real estate agents, contractors and designers
SUNNYVALE, Calif., Oct. 1, 2024 /PRNewswire/ — Matterport, Inc., today unveiled a groundbreaking suite of new tools designed to reshape the way professionals design, build, and market properties. Through the power of generative AI, Matterport users can now easily reimagine the potential of any space, transforming digital twins from static replicas into dynamic canvases for creativity.
“Our Fall 2024 Release empowers users to unlock the full potential of Matterport,” said RJ Pittman, Chairman and CEO of Matterport. “Imagine being able to defurnish a home with one click or generate stunning property descriptions automatically, using just the data from your digital twin. These tools save time, elevate listings, and simplify complex workflows for everyone—from real estate agents to contractors and enterprise teams. And with features like 3D model merge, field tags, and one-click bill-back processing, we’re helping customers manage spaces at scale with unprecedented speed, efficiency and precision.”
New tools for agents:
One of the most revolutionary additions in the Fall Release is Matterport’s AI-powered defurnish tool, designed to solve a common challenge for home sellers and agents: clutter. With a single click, users can now transform a cluttered living room or messy garage into a clean, open space—allowing potential buyers to visualize the home’s true potential. Whether it’s “erasing” an outdated couch or clearing out the dining room set, defurnish gives agents a powerful yet simple tool to make every property shine.
And coming soon, Matterport’s interior design tools will unlock creativity for everyone—letting users digitally furnish and redesign spaces with ease and offering a glimpse of what the future could hold.
The AI-powered property description tool is another game-changer, crafting detailed, engaging written descriptions in just seconds. Brokers and marketers can select the style and tone, ensuring each listing is perfectly tailored—whether it’s a sleek, modern downtown loft or a charming suburban home. And by leveraging the precise spatial data of every digital twin, the tool creates content that is not only beautifully written but also accurate down to the last detail, saving hours of work and producing results that even seasoned experts will admire.
New tools for property managers, contractors, and designers:
For large-scale projects, Matterport’s new Merge tool enables users to seamlessly “snap” together multiple digital twins. Imagine creating a full digital model of an entire hotel, floor by floor, or merging every floor of a high-rise office tower into one cohesive 3D tour of the building. Merge also allows multiple team members to scan different sections of a property simultaneously and integrate them later, making it possible to capture and manage even the most expansive buildings quickly and efficiently.
Field Tags further enhance the efficiency of on-site work by allowing users to add on-site observations and tags during the scanning process. No more repeat visits to capture missed details—everything can be documented in real-time, ensuring accurate, comprehensive records of the space are captured at the moment they matter most. This feature keeps teams aligned and projects moving forward without unnecessary delays.
Lastly, Matterport introduces one-click bill-back processing, a highly anticipated feature for enterprise customers. This simple yet powerful tool removes the headache of manual invoicing and cost allocation, allowing organizations to easily distribute expenses across departments and external partners. By automating billing processes, Matterport reduces administrative burdens and empowers teams to focus on what matters most.
About MatterportMatterport, Inc. (Nasdaq: MTTR) is the World’s #1 Digital Twin Platform* leading the digital transformation of the built world. Our groundbreaking platform turns buildings into data to make every space more valuable and accessible. Millions of buildings in more than 177 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal, and marketing. Learn more at matterport.com and browse a gallery of digital twins.
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