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TheRobotic Sensors Marketis expected to increase byUSD 801.66 million from 2021 to 2026, and the market's growth momentum will accelerate at aCAGR of 7.96%as per the latest market report by Technavio.47% of the market's growth will originate fromAPACduring the forecast period. China, South Korea, and Japan are the key markets for robotic sensors in APAC. Market growth in this region will be faster than the growth of the market in other regions. Favorable government legislation and investments have facilitated the growth of the manufacturing industry in APAC.
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Revenue Generating Segment Outlook
The robotic sensors market share growth by the industrial robots segment will be significant for revenue generation. There will be a surge in the demand for industrial robots that are used to automate processes that previously involved the use of manual labor during the forecast period. The global robotic sensors market will be greatly driven by 2D, 3D, and light detection and ranging (LiDAR)-based vision systems and cameras to ensure that robots have a clear vision. The emergence of the Industrial Internet of Things (IIoT) and collaborative robots (cobots) are expected to be the major drivers for the market during the forecast period.
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TheRobotic Sensors Marketis fragmented, and the vendors are deploying growth strategies such as focusing on product delivery through multiple distribution channels to compete in the market.
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Latest Drivers & Trends Driving the Market-
The key factor driving growth in the robotic sensors market is the emergence of IIoT.The development of IIoT and enhancements in technology have fueled the adoption of robotic sensors in industries. The high demand and use of smart devices, wireless, and cloud technology will influence the future of industrial robots such as cobots in terms of the range of utility and mode of operation. With the rise in competition, vendors are offering attractive options, such as services and control modules, through smart devices and Wi-Fi technology for cobots from remote locations. These devices are flexible and convenient in operations and allow a single human operator to simultaneously guide and control multiple Cobots. IIoT assimilates smart machines, warehouses, industrial robots such as cobots, and entire production facilities to achieve corporate goals and key performance indicators (KPIs).
The development of next-generation robots is a major trend supporting the robotic sensors market share growth. Robotics technology is divided into four major application areas: manipulation, navigation, cognition, and perception. Many R and D activities in robotics technology have taken place across these applications. Advances in technology such as gripping, mechatronics, drives, and motion controls have increased the development of industrial robots for manipulation applications, including loading, packaging, and material handling. Second-generation robots can detect human presence and machines, owing to improved 3D-vision systems and sensors working in combination with intelligent algorithms.
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Robotic Sensors Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 7.96%
Market growth 2022-2026
USD 801.66 million
YoY growth (%)
Performing market contribution
APAC at 47%
Leading companies, competitive strategies, consumer engagement scope
Honeywell International Inc., Balluff GmbH, Baumer Holding AG, Carlo Gavazzi Holding AG, Cognex Corp., DAIHEN Corp., FANUC Corp., ifm electronic GmbH, Infineon Technologies AG, Keyence Corp., Novanta Inc., OMRON Corporation, OnRobot AS, Roboception GmbH, Schneider Electric SE, Seiko Epson Corp., SICK AG, TE Connectivity Ltd., Tekscan Inc., and Velodyne Lidar Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,
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Table Of Contents :
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
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