Robotic Sensors Market by Application and Geography - Forecast and Analysis 2022-2026

The robotic sensors market share is expected to increase by USD 801.66 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.96%.

This robotic sensors market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers robotic sensors market segmentation by application (industrial robots, service robots, and collaborative robots) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The robotic sensors market report also offers information on several market vendors, including 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. among others.

What will the Robotic Sensors Market Size be During the Forecast Period?

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Robotic Sensors Market: Key Drivers, Trends, and Challenges

The emergence of IIoT is notably driving the robotic sensors market growth, although factors such as challenges in delivering high quality at low cost may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the robotic sensors market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Robotic Sensors Market Driver

One of the key factors 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). Various sensors placed around the factory gather and relay real-time information, thus enabling relevant floor decisions and helping operators. Therefore, the integration of IIoT in a factory transforms it into a connected and synchronized unit. Such factors are expected to drive the market during the forecast period.

Key Robotic Sensors Market Trend

The development of next-generation robots is another factor 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. When combined with GPS systems and gyroscopes, this technology enables robots to determine their location, synchronize their movement, and map out their environment. Developments in second-generation robotics will increase their penetration in warehouses for storing and maintaining the products autonomously. Robots are likely to be equipped with cognitive skills during the forecast period. Thus, the demand for such technologically advanced robotic sensors will significantly drive the growth of the market during the forecast period.

Key Robotic Sensors Market Challenge

The challenges in delivering high quality at low cost will be a major challenge for the robotic sensors market during the forecast period. Robotics engineers and system developers are continuously researching adding more products that have enhanced quality in their portfolios. However, a major challenge for industrial robot sensors manufacturers has been the size of the industry, which is not large enough to drive the economies of scale. But, economies of scale are essential to bringing down the costs of developing new sensors. A key factor that drives up the cost of sensors is the need for customization to ensure that it delivers the accuracy and reliability which is expected from a robotic system. The cost of sensors has fallen over the years, especially due to the availability of off-the-shelf varieties of sensors, which are mainly used in industrial automation systems. However, a sensor customized for application-specific robots will be technologically advanced, hence more expensive. Therefore, the vendors face challenges in delivering high-quality products at low cost which restricts the growth of the market during the forecast period.

This robotic sensors market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global robotic sensors market as a part of the global electrical components and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the robotic sensors market during the forecast period.

Who are the Major Robotic Sensors Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• 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.
• Velodyne Lidar Inc.

 

This statistical study of the robotic sensors market encompasses successful business strategies deployed by the key vendors. The robotic sensors market is fragmented and the vendors are deploying growth strategies such as spending more on R and D activities to introduce innovative solutions for diversified industries to compete in the market.

Product Insights and News

• Carlo Gavazzi Holding AG - The company offers joined venutrobotic sensors such as UA18 and UA30 Ultrasonic sensors.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The robotic sensors market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Robotic Sensors Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the robotic sensors market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the electrical components and equipment market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Robotic Sensors Market?

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47% of the market's growth will originate from APAC during 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. This will facilitate the robotic sensors market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the robotic sensors market in the region witnessed certain challenges due to the outbreak of COVID-19. The COVID-19 pandemic affected the economies of various countries in the region. The pandemic led to supply chain disruptions, which negatively impacted the growth of the industrial and commercial sectors. However, since the second half of 2021, the initiation of COVID-19 vaccination drives led to the lifting of lockdowns in many countries across the region with a gradual decrease in the COVID-19 cases. This has resulted in the resumption of operations in various sectors. 

What are the Revenue-generating Application Segments in the Robotic Sensors Market?

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The robotic sensors market share growth by the industrial robots segment will be significant during the forecast period. 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.

This report provides an accurate prediction of the contribution of all the segments to the growth of the robotic sensors market size and actionable market insights on post COVID-19 impact on each segment.

 

Robotic Sensors Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 7.96%
Market growth 2022-2026	$ 801.66 million
Market structure	Fragmented
YoY growth (%)	7.41
Regional analysis	APAC, Europe, North America, South America, and Middle East and Africa
Performing market contribution	APAC at 47%
Key consumer countries	US, China, Japan, South Korea, and Germany
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	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.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Robotic Sensors Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive robotic sensors market growth during the next five years
• Precise estimation of the robotic sensors market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the robotic sensors market industry across APAC, Europe, North America, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of robotic sensors market vendors

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