The key factor that drives the growth of the robotic sensor market include surge in adoption of industrial robots in automotive manufacturing. The automotive manufacturing is attributed to the growing penetration of industrial robots across production facilities. These industrial robots are highly integrated with robot sensor such as proximity sensors, ultrasonic sensors and laser range sensors. The key factor that hampers the growth of this market is limited shelf life associated with robotic sensors. The opportunity lies in increasing investments in aerospace robotics. The key players in the aerospace industry are focusing on automation of operational processes to reduce cost, save time, deliver high-quality products, and increase productivity to meet firm competition.
The robotic sensor market is segmented on the basis of type, vertical. By type, the market is divided into the market is divided into force/torque sensor, proximity sensor, vision sensor, position sensor, temperature sensor and others. By industry vertical, the market is analyzed across logistics, defense and aerospace, manufacturing, healthcare, and others. Region-wise, the robotic sensor market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (U.K., Germany, France, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The key players operating in the market include Baumer group, Fanuc Corporation, FUTEK Advanced Sensor Technology, Inc., Honeywell International Inc., ATI Industrial Automation, Inc., Infineon Technologies AG, OMRON Corporation, Sensata Technologies, Inc., TE Connectivity Ltd., Tekscan, Inc., Keyence Corporation, Cognex Corporation, ifm electronic gmbh, and Schneider Electric.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the robotic sensors market analysis from 2021 to 2031 to identify the prevailing robotic sensors market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the robotic sensors market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global robotic sensors market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Proximity Sensor
- Vision Sensor
- Position Sensor
- Temperature Sensor
- Force (Torque) Sensor
- Others
By Vertical
- Logistics
- Aerospace and Defense
- Manufacturing
- Healthcare
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- baumer group
- FANUC CORPORATION
- futek advanced sensor technology, inc.
- Honeywell International Inc.
- ATI Industrial Automation, Inc.
- Infineon Technologies
- Omron Corporation
- sensata technologies, inc.
- TE Connectivity Ltd.
- Tekscan, Inc.
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Table of Contents
Executive Summary
According to the report, titled, “Robotic Sensors Market," the robotic sensors market size was valued at $1.8 billion in 2021, and is estimated to reach $4.9 billion by 2031, growing at a CAGR of 10.78% from 2022 to 2031.The key factor that drives the robotic sensors market growth include surge in adoption of industrial robots in automotive manufacturing. The automotive manufacturing is attributed to the growing penetration of industrial robot sensors across production facilities. These industrial robots are highly integrated with robot touch sensor such as proximity sensors, ultrasonic sensors and laser range sensors. Further, these advanced sensors help robots to achieve high precision & accuracy and increased productivity across factories.
Additionally, China is the leading manufacturer of industrial robots, producing 47% of industrial robots sold in 2019. In 2019, the average robot density in the manufacturing industry was 113, an increase of 12% over 2018. The key factor that hampers the growth of this market is limited shelf life associated with robotic sensors. The opportunity lies in increasing investments in aerospace robotics. The key players in the aerospace industry are focusing on automation of operational processes to reduce cost, save time, deliver high-quality products, and increase productivity to meet firm competition.
According to robotic sensors industry analysis, the force/torque sensor segment was the highest revenue contributor in 2021, due to increase in demand for automotive products, growing adoption of force sensor in manufacturing application, rapidly rising adoption of advanced driver assistance systems. Additionally, adoption of internet of things (IoT) technology and rising robot application in industries are expected to create lucrative opportunities for the market. The manufacturing segment accounted for around 30.85% market share in 2021. Surge in demand for robots in the manufacturing industry enables manufacturers to achieve high quality, reliability, economic efficiency, and less product life cycle cost.
The outbreak of COVID-19 has significantly impacted the growth of the consumer product safety testing solution in 2020, owing to significant impact on prime players operating in the supply chain. On the contrary, the market was principally hit by several obstacles amid the COVID-19 pandemic, such as lack of skilled workforce availability and delay or cancelation of projects due to partial or complete lockdown, globally. Furthermore, surge in adoption of industrial and medical robots is expected to strengthen the robotic sensors market opportunity post COVID-19.
Key Findings of the Study
- In 2021, the force/torque sensor segment accounted for maximum revenue, and is projected to grow at a notable CAGR of 10.87% during the forecast period.
- The manufacturing segment accounted for around 30% of the robotic sensors market trends in 2021.
- Asia-Pacific contributed for the major robotic sensors market share, accounting for more than 40% share in 2021.
- The key players profiled in the report include Baumer group, Fanuc Corporation, FUTEK Advanced Sensor Technology, Inc., Honeywell International Inc., ATI Industrial Automation, Inc., Infineon Technologies AG, OMRON Corporation, Sensata Technologies, Inc., TE Connectivity Ltd., Tekscan, Inc., Keyence Corporation, Cognex Corporation, ifm electronic gmbh, and Schneider Electric. Market players have adopted various strategies, such as product launch, collaboration& partnership, joint venture, and acquisition to expand their foothold in the robotic sensors market analysis.
Companies Mentioned
- Baumer Group
- Fanuc Corporation
- Futek Advanced Sensor Technology, Inc.
- Honeywell International Inc.
- Ati Industrial Automation, Inc.
- Infineon Technologies
- Omron Corporation
- Sensata Technologies, Inc.
- Te Connectivity Ltd.
- Tekscan, Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 286 |
Published | July 2022 |
Forecast Period | 2021 - 2031 |
Estimated Market Value ( USD | $ 1780.2 million |
Forecasted Market Value ( USD | $ 4896.7 million |
Compound Annual Growth Rate | 10.6% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |