3 Key Insights on US$ 5 Bn Opportunity in Global Robotic Sensors Market: Ken Research
Driven by Rapid Digitalization, Advanced Technologies, and Increasing R&D Investment the Robotic Sensors Market Global is forecasted to cross US$ 5 Bn says Ken Research Study
Robots are mechanical devices that function autonomously and have been designed for a variety of uses. Robotics includes many different tasks like welding, assembling, monitoring, and search and rescue. Robot sensors are any of the various types of sensors utilized in a robot’s components to satisfy its unique requirements. In order to make robotics mechanical and achieve increased production, these sensors are necessary.
“Ken Research shares 3 key insights on this high opportunity market from its latest research study”
1. The Global Robotic Sensors Market Is Anticipated To Expand At ~ 17% Until 2028, Following A Recovery In 2021 Driven On By The Use Of Automation.
The Global Robotic Sensors Market witnessed a significant expansion despite a decline during 2020, primarily due to due to several factors, including labor shortages and project delays or cancellations brought on by partial or total lockdowns globally. The adoption of automation is anticipated to rise significantly over the projection period as robotics developments give rise to flexible manufacturing approaches. Robotic sensors will be in high demand as autonomous and collaborative robot deployment increases throughout end-user sectors, allowing for improved operational precision and accuracy. According to IFR in 2021, the number of robot installations increased marginally to 383,545 units despite the global pandemic. This makes 2020 the third-most prosperous year for the robotics industry by far, with a growth rate of about 0.5%. Post-COVID the use of robots has grown rapidly over the studied period as a result of Industry 4.0 and digitization. According to the research study, the market is forecast to reach ~US$ 5 Bn by 2028 from ~ US$ 1 Bn in 2022, witnessing a CAGR of ~17% during this period.
2. The Global Market For Robotic Sensors Is Being Driven By An Increase In Demand From Key End-User Industries Like Manufacturing, Healthcare, Logistics, And Transportation.
Drive for industry 4.0, smart factories, IoT adoption, and next-generation robot development as tools to assist managers in increasing productivity, efficiency, and profitability. Sensors are used by robots for many different things. As a result, expanding the use of sensors is essential to reducing uncertainty and enhancing production. According to the International Federation of Robotics, as the average robot density has nearly doubled in the last five years, reaching 126 units per 10,000 people in 2020, the usage of robots in manufacturing industries globally is accelerating at a significant rate. Furthermore, the need for robotic sensors is being driven by the rising need for robotic systems in the healthcare sector, which is positively affecting the market. Since the COVID-19 epidemic broke out, numerous healthcare firms have felt a greater urgency to respond quickly to the demand for hospitals and pharmacies.
3. Force And Torque (FT) Sensors Dominate The Market Followed By Proximity Sensor And Vision Sensor
Among the product segments, Force and Torque (FT) sensors remained the dominant segment during the 2017-2021 period. Further the Ken Research Study found that this segment is likely to retain dominance even by 2028. The dominance is owing to being used to gauge, monitor, document, and manage the rotational and linear forces operating on it. To put it another way, the FT sensor in a mechanical or robotic system is comparable to the small receptors on an animal’s skin that allow them to feel “touch.”
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Recent Developments Related to Major Players
- In February 2022 Novanta Inc. established a new collaboration with MassRobotics to support the development and expansion of the following wave of prosperous robotics firms.
- In July 2022 Balluff introduced its New Generation of the compact, reliable position measuring systems in profile and rod designs. These systems include narrow magnetostrictive sensors for contactless position measurement.
Conclusion
The market for robotic sensors is expected to continue expanding at a significant double-digit pace of ~17%, which is considerably faster than the rate the market experienced between 2017 and 2021. Owing to Industry 4.0 and digitization, the adoption of robots has increased significantly over the forecast period. Over the projection period, robotics developments are anticipated to lead to more flexible manufacturing methods, which are expected to result in a massive rise in the adoption of robotic sensors. With the rising deployment of autonomous and collaborative robots across end-user industries, the demand for robotic sensors is expected to rise to provide more precision and accuracy while operating. Though the market is highly competitive with ~ 200 participants, few global players control the dominant share and regional players also hold a significant share.
Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients and report delivered within a maximum of 2 working weeks.
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Key Topics Covered in the Report
- Snapshot of Robotic Sensors Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of Robotic sensors Market
- Historic Growth of Overall Robotic sensors Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of Robotic sensors Market Industry
- Overview, Product Offerings, and Strength & Weakness of Key Competitors
- COVID 19 Impact on the Overall Robotic sensors Market
- Future Market Forecast and Growth Rates of the Total Robotic sensors Market and by Segments
- Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
- Analysis of Robotic sensors Market in Global Regions
- Major Production/Supply and Consumption/Demand Hubs in the Region
- Region-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within the Region
Major Companies Mentioned in the Report
- ATI Industrial automation
- Balluf GmbH
- Baumer Group
- FUTEK Advanced sensor technology
- Cognex Corporation
- IFM electronic
- Infineon technologies
- OnRobot
- Sensata
- TE Connectivity
Notable Emerging Companies Mentioned in the Report
- OnRobot
- Sensata
- TE Connectivity
- Blickfeld
- Robotous
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Robotics Sensor Manufacturers
- Robotic Sensors Type Assemblers
- Robotic sensors Type Suppliers
- Raw Material Suppliers for Robotics sensor
- Potential Investors in Robotic sensors Companies
- Value Added Resellers
- Industrial OEMs of Robotics sensor
- Industrial Automation Solutions Providers
- Robotics Industry Associations
- Robotics Research Groups
Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
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Global Robotic Sensors Market: Ken Research
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