The robot sensor market is anticipated to amass high-rise demand by 2026, driven by increasing use of industrial robots and automation in the manufacturing sector. Boasted for their multiple benefits like providing a reduction in operational costs and increasing production and profit margins, several companies are using robotic arms to raise productivity levels and obtain cost benefits by reducing labor workforce.
Industrial automation and robotics are increasing gaining grip across the manufacturing sector of developing economies. According to a report by The International Federation of Robotics (IFR), Asia is one of the largest industrial robot markets in the world, with huge investments and advancements coming from countries like China and Japan that are primarily focusing increasing production efficiencies and uplifting the region’s manufacturing sector.
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Based on the product, the robot sensor market is categorized into laser sensors, tactile, vision, torque, force, proximity, and ultrasonic. The tactile sensors segment was over 10% share of the overall market in 2019 and is expected to grow significantly by 2026. The incorporation of tactile sensors in industrial robots helps in sensing the external environment as well as measuring distance accurately to perform complex tasks. On account of such benefits, the high integration of the product with robots will enhance the efficiency of work across industrial settings.
The rising emphasis towards initiating several R&D programs will lead to the advent of various innovative products in the industry. For example, robotics researchers at ETH Zurich, have recently introduced a tactile sensor that will aid robots to detect complexity, fragility, and slipperiness on object’s surfaces. These tactile sensors have a very simple design and a low cost of production.
As per the applications, the robot sensor market is classified into defense, agriculture, domestic, logistics, entertainment, manufacturing, medical, and several other sectors. The applications of robot sensors in the medical sector are estimated to grow at a CAGR of 15% up to 2026.
The availability of a wide array of automation systems and their high adoption in numerous surgical procedures will help in enhancing industry share from medical applications. The surgical procedures in the medical industry create the maximum demand for robot sensors, however, the recent developments in the field have also enabled the deployment of robots for non-surgical procedures.
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Geographically speaking, the robot sensor market of Europe is projected to grow at a rate of 8% over the coming years. Rising digitalization in the manufacturing industry of Germany has fueled new demand for robotic sensors. Companies are focusing on modernizing manufacturing operations to compete against companies based in China. They are adopting advanced industrial machinery, robots and equipment. Currently, Europe makes more than 90% of agricultural robots, an effort which is likely to further fuel the demand for robot sensors.
On a global landscape, the robot sensor market consists of key players such as EPSON, FANUC, Honeywell International, Inc., Rockwell Automation, SICK AG and Keyence, among others. These firms are adopting various business strategies like investing in R&D and developing new products in order to maintain their market position.
Major Key Points from Table of Content:
Chapter 7. Robot Sensor Market, By Application (Revenue)
7.1. Key trends by application
7.2.1. Robot sensor market estimates and forecast, 2015 - 2026
7.3.1. Market estimates and forecast, 2015 - 2026
7.4.1. Market estimates and forecast, 2015 - 2026
7.5.1. Market estimates and forecast, 2015 - 2026
7.6.1. Market estimates and forecast, 2015 - 2026
7.7.1. Market estimates and forecast, 2015 - 2026
7.8.1. Market estimates and forecast, 2015 - 2026
7.9.1. Market estimates and forecast, 2015 - 2026
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