Global Robotic Sensors Market Analysis Report 2022: A $5 Billion Market by 2028 - Adoption of Autonomous and Collaborative Robots Across End-user industries is Anticipated to Enhance Demand
DUBLIN, Jan. 18, 2023 /PRNewswire/ -- The "Global Robotic Sensors Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 By Type, Application, End-User, and Region" report has been added to ResearchAndMarkets.com's offering.
The Global Robotic Sensors Market is expected to record a positive CAGR of ~ 17% during the forecast period (2022-2028), and reach a revenue of ~US$ 5 Bn by 2028.
Due to the introduction of Industry 4.0 and widespread digitization, the utilization of robots is likely to grow throughout the forecasted period. The adoption of autonomous and collaborative robots across end-user industries is also anticipated to enhance demand for robotic sensors.
The availability of relatively affordable, energy-efficient robots and the growth in organizations' requirements for automation and safety are expected to drive the growth of the worldwide robotic sensors market.
According to the International Federation of Robotics (IFR), a non-profit organization, 486,800 units of industrial robots were sold in 2021, an increase of 27% compared to the previous year.
According to the Oxford Economics 2019, an independent economic advisory firm, over the past 20 years, the number of robots in use has increased three-fold, reaching ~2.25 million. In the following 20 years, trends indicate that the number of robots will grow even more rapidly, likely reaching 20 million by 2030, with 14 million of those in China alone.
Another significant problem affecting the growing deployment of robots is the lack of skilled workers. Along with the labor shortage, the rising wages of the workforce are also having an influence on the growth of robot demand globally. Additionally, organizations must constantly train their staff to adopt new technologies, which compels them to use robotic systems and encourages market vendors to develop new system components.
The COVID-19 pandemic has accelerated the development of robots. The use of modern technology is increasing, especially in manufacturing and healthcare as these sectors adapt to the shifting preferences and requirements of the modern world. Robotic sensors are used by drones and robots in the military and defense sector to gather precise location, velocity, and attitude data.
The market for robotic sensors is expected to continue expanding at a significant double-digit pace of ~17%, which is considerably faster than he 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.
The Robotic sensors market is highly competitive with ~200 players, which include globally diversified players, regional players as well as a large number of country-niche players having their niche in Robotic sensors for multiple industries.
Large global players hold the largest market share, while regional players hold the second largest share. Some of the major players in the market include ATI Industrial automation, Balluf Gmbh, Baumer Group, Cognex Corporation, FUTEK Advanced Sensor Technology, IFM Electronic, Infineon Technologies, OnRobot, Sensata, TE Connectivity, and others.
The leading global specialist companies such as Balluf Gmbh, Baumer Group, and FUTEK Advanced Sensor Technology are highly focused on providing significant Sensors for various applications that can be used across multiple industries, including Automotive, Food and Beverages, Healthcare, Logistics and Transportation, and more.
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.
Major Companies Mentioned in the Report
- ATI Industrial automation
- Balluf GmbH
- Baumer Group
- FUTEK Advanced sensor technology
- Cognex Corporation
- IFM electronic
- Infineon technologies
- TE Connectivity
- TE Connectivity
Scope of the Report
- Force & Torque Sensor
- Temperature Sensor
- Pressure Sensor
- Position Sensor
- Proximity Sensor
- Navigation sensor
- Vision Sensor
- Industrial Robot Sensors
- Service Robot Sensors
- Collaborative Robot Sensors
By End User
- Aerospace & Defense
- Consumer Electronics
- Energy & Utility
- Food & Beverages
- Logistics & Transportation
- North America (USA, Canada, Mexico)
- Europe (Germany, UK, France, Spain, Italy, Rest of Europe)
- Asia Pacific (China, Japan, South Korea, India, Indonesia, Australia, Rest of Asia Pacific)
- LAMEA (Latin America, Middle East, Africa)
Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
For more information about this report visit https://www.researchandmarkets.com/r/7x97qg
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