The robotic sensors market is poised for rapid expansion, forecasted to grow from $2.2 billion in 2023 to $2.5 billion in 2024, at a CAGR of 13.5%. This growth is attributed to the increasing demand for precision in manufacturing and healthcare applications. By 2028, the market size is expected to reach $3.96 billion, at a CAGR of 12.2%, driven by advancements in AI and multi-sensor fusion technologies.
Major Driver In The Robotic Sensors Market
The robotic sensors market is anticipated to experience substantial growth, driven by the increasing adoption of robots for automation. Robots, machines programmed to perform tasks, rely on sensors, actuators, and control systems to carry out specific functions. Robotic sensors, crucial components enabling robots to interact with their environment, play a pivotal role in enhancing productivity and addressing the shortage of skilled labor. According to the World Robotics Report (IFR), in 2022, there was a noteworthy surge in new industrial robot installations worldwide, reaching 517,385 units in 2021, showcasing a remarkable year-on-year growth rate of 31%. The global operational robot count also set a record at approximately 3.5 million units. This surge in robot adoption for automation serves as a driving force for the robotic sensors market, with these developments reflecting positively in 2023, 2024, and 2028 market sizes.
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Robotic Sensors Market Competitive Landscape
Panasonic Corporation, Schneider Electric, TE Connectivity Ltd, STMicroelectronics, Infineon Technologies, Renesas Electronics Corporation, KEYENCE CORPORATION, Rockwell Automation, Inc, Omron Corporation, ams-OSRAM AG, IAI Corporation, Sensata Technologies, Vishay Intertechnology, Inc., SICK AG, DAIHEN Corporation, ifm electronic, Cognex Corporation, Melexis, Allegro MicroSystems, LLC, Datalogic S.p.A, Carlo Gavazzi, ATI Industrial Automation Inc., Oriental Motor, Futek Advanced Sensor Technology Inc., Baumer Group, FANUC Corporation, Tekscan, CAPTRON Electronic GmbH, Hans Truck GmbH and Co KG
Key Robotic Sensors Market Trend
Major market players are concentrating their efforts on creating innovative products to strengthen their position in the market. For instance, in August 2020, Omron Adept Technologies, a US-based provider of intelligent vision-guided robotics systems, launched a new mobile robot called the HD-1500. The HD-1500 is an Autonomous Mobile Robot (AMR) that has been designed to handle heavy payloads of up to 1500kg, making it suitable for material handling applications in industries such as automotive, logistics, and manufacturing. This unique product can transport heavy loads safely and efficiently, with its advanced safety features, such as it includes laser technology and, 360-degree safety scanning lasers used for simultaneous localization and safety functionality.
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Robotic Sensors Market Segmentation
The robotic sensors market covered in this report is segmented –
1) By Type: Force and Torque Sensor, Temperature Sensor, Pressure Sensor, Position Sensor, Proximity Sensor, Vision Sensor, Other Type of Sensors
2) By End-User: Aerospace And Defense, Automotive Process And Packaging, Logistics, Manufacturing, Other End Users
By Geography:The regions covered in the robotic sensors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the robotic sensors market in 2023.
The Robotic Sensors Global Market Report 2024 furnishes information about the global robotic sensors market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
