Robotic Sensors Market Growth Analysis | 2023-2028

Market Insights

The robotic sensors market was estimated at USD 1.94 billion in 2022 and is likely to grow at a CAGR of 9.48% during 2023-2028 to reach USD 3.33 billion in 2028.

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What are robotic sensors?

Robotic sensors are electronic devices that are designed to detect and measure changes in the environment and provide feedback to a robot's control system. Robotic sensors are essential components of many types of robots, including industrial robots, service robots, and autonomous vehicles.

There are many types of robotic sensors, each with its own unique capabilities and applications. Some common types of robotic sensors include proximity sensors, which can detect the presence of objects in the robot's environment, and force/torque sensors, which can measure the forces and torques applied by the robot to objects it is interacting with.

Other types of robotic sensors include temperature sensors, humidity sensors, and gas sensors. Robotic sensors enable robots to interact with the world around them and can be used to control robot movements, monitor environmental conditions, and detect anomalies or hazards.

Key Players

The major players operating in the global market are:

• FANUC CORPORATION
• Baumer Group
• Honeywell International Inc.
• Futek Advanced Sensor Technology, Inc.
• ATI Industrial Automation, Inc.
• Infineon Technologies
• Omron Corporation
• Sensata Technologies, inc.
• TE Connectivity Ltd.
• Tekscan, Inc.

Market Dynamics

Due to the emergence of Industry 4.0 and digitization, the utilization of robots has notably risen in the analyzed timeframe. The progress in robotics has brought about adaptable production approaches, leading to a considerable increase in their adoption in the projected period.

As autonomous and collaborative robots become increasingly prevalent across various end-user industries, there will be a significant surge in demand for robotic sensors to enhance their precision and accuracy during operations.

Numerous factors are propelling the market, including the swift technological advancements in automation, AI, energy storage, engineering, and machine learning. Additionally, a scarcity of skilled labor is a significant factor affecting the growing adoption of robots. The increasing wages of the workforce, coupled with a shortage of labor, are further influencing the demand for robots in different regions.

Furthermore, organizations are required to frequently train their workforce to keep up with new technologies, which is driving them to embrace robotic systems. This, in turn, is prompting market vendors to innovate the components of the systems.

Developing and underdeveloped nations are experiencing a steady shift towards robotics in their agriculture and manufacturing sectors. Nevertheless, it is anticipated that workers will continue to migrate towards the service industry, leading to a reduction in wages and growth in job opportunities, rather than widespread unemployment.

Although the automation of routine tasks through digital technologies may seem like a potential threat to manufacturing in developing countries, such predictions are typically based on technical feasibility alone. In reality, the automation of jobs is also dependent on economic and institutional feasibility, which can hold greater significance than technical aspects in underdeveloped countries.

The pharmaceutical industry's growing requirement for robotic systems is boosting the demand for robotic sensors, which is positively impacting the market under study. The COVID-19 pandemic has compelled numerous pharmaceutical manufacturers to respond rapidly to hospitals' and pharmacies' demands.

The pandemic-induced restrictions forced companies to operate with a reduced workforce, which adversely affected their operational capabilities worldwide. In response, many companies began investing in automation technologies to overcome labor shortages and reduce their dependence on human labor.

Growing Adoption of Robots in Logistics and Transportation to Drive the Market

The entire supply chain, from manufacturing to shipping and logistics, is undergoing a transformation through automation. The swift progress in AI, machine learning, and automation is set to enhance the current state of robotics utilized in logistics and transportation. Furthermore, the emergence of 5G and advancements in big data and cloud computing are expected to revolutionize the robotics industry, making it more efficient, customer-focused, and precise than ever before.

The pressing need to decrease expenses, streamline operations, and improve efficiency is a driving force behind robotic innovations. Moreover, as the economy grows stronger, the demand for automation has risen due to increasing competition in e-commerce, leading to the growth of the warehouse robotics market.

In the wake of the COVID-19 pandemic, manufacturers, particularly in the automotive and electronics industries, are embracing automation and investing in fleets of AMRs to automate their internal logistics. Mobile Industrial Robots (MiR), a global market leader in autonomous mobile robots, has reported a 55% increase in sales in Q1 2021 compared to 2020, with the MiR250, their latest and most compact AMR, accounting for a significant number of sales.

The surge in e-commerce has further emphasized the necessity for innovation in robots. As robotic systems continue to evolve, the demand for sophisticated sensors is increasing, driving market growth.

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Segment Analysis

Regional Insights: Asia Pacific to Witness Significant Market Growth

During the forecast period, the Asia Pacific region is expected to exhibit the highest growth rate, primarily due to the significant installation of industrial robots in several countries, including China, Japan, India, South Korea, and Taiwan. China, in particular, is leading the regional adoption rate of sensors for robotic applications, owing to the extensive deployment of sensors in the country's dominant automotive and semiconductor manufacturing industries.

China's position as a manufacturing leader and its substantial consumer base for electronics and related components are key factors driving the growth of the robotic sensors market. The country boasts a significant manufacturing base across several industries, including automotive, electronics, aerospace and defense, and food and beverage, among others. This is expected to further accelerate the growth rate of the market.

The increasing government support towards the advancement of the advanced manufacturing sector is expected to have a positive impact on the growth rate of the robotic sensors market. The Chinese government's initiative "Made in China 2025" is a state-led industrial policy aimed at enhancing China's dominance in the global high-tech manufacturing industry. This policy is expected to drive the growth of the market in China by promoting the adoption of advanced technologies such as robotics and sensors across various industries.

In addition, China's Ministry of Industry and Information Technology, the National Development and Reform Commission, the Ministry of Science and Technology, and 12 other agencies recently published "The 14th Five-Year Development Plan for the Robotics Industry" in December 2021. This is the country's second five-year growth plan for the robotics industry, and it is expected to play a crucial role in promoting and supporting the industry's high-quality development. The plan is expected to encourage the adoption of advanced technologies such as robotics and sensors across various industries, further driving the growth of the robotic sensors market in China.

The automotive, electronics, and manufacturing industries are also experiencing significant growth in other economies such as South Korea, Japan, and India, which presents substantial potential for growth in the regional market. Additionally, the involvement of regional governments is a crucial factor in the development of sensors in the robotics market.

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Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories.

By Type

• Proximity Sensor
• Vision Sensor
• Position Sensor
• Temperature Sensor
• Force (Torque) Sensor

By Vertical Type

• Logistics
• Aerospace and Defense
• Manufacturing
• Healthcare

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances.

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Recent Developments

• In December 2022, OMRON, a factory automation solution provider, opened its 1st Automation Center exclusively catering the logistics industry in Singapore, South-East Asia, and Oceania.
• In July 2022, FANUC opened new robotics and automation headquarters in Aguascalientes, Mexico.