Robot Sensor Market 2018 Trends and Key Players: SICK AG, Baumer Group, Cognex, IFM electronic GmBH, ams AG, ATI Automation, Rockwell Automation, Velodyne, Baluff AG, Bionic Robotics, Baumer Group, Carlo Gavazzi, Cognex, Honeywell

Laser range sensor technology in the robotics sensor market which was estimated to be over USD 390 million in 2017 is expected to grow over the forecast timeline owing to the emerging cheaper LiDAR sensors. Moreover, Google’s Waymo is also investing in the LiDAR technology to cut down on the sensor costs. In an era defined by the increasing adoption of robotics, robot sensor market has quite overtly consolidated its stance in the overall electronics space. Robotic automation is now being deployed across a slew of applications, from industrial and domestic to commercial and logistic applications, for achieving several operational and workplace benefits.

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Apart from being used for obtaining long-term performance benefits at the workplace combined with efficiency, robots are also being deployed on account of their lesser susceptibility to fatigue. The increasing implementation of robots to minimize workplace risks and reduce fatigue is certain to boost robot sensor industry.

Moreover, robot sensor market is gaining traction as these are being integrated into the legs and torsos of robots, whereas it was integrated only into robotic arms in the past. The market for force torque sensors will witness a significant growth in the Asia Pacific region due to the increasing deployment of industrial robots in South Korea and China. These sensors are also working collectively with other technologies such as LiDAR, ultrasonic, and vision sensors for efficiency.

Powered by the current trends of digitalization and innovation, robot sensor market giants have been working toward developing advanced robotic sensing systems. The initiatives taken by the researchers and product developers to increase the effectiveness of conventional sensing systems implemented in the robots will revolutionize the overall robot sensor industry.

There is a rapid global demand for logistics service robotics sensor market in the warehouses to increase the operational efficiency for processes such as custom packaging, picking objects container loading, and unloading. Warehouse automation has been attainable due to the development in sensor technology with ultrasonic and visual sensors used to guide the robots. This will furthermore propel the robot sensor market.

Robot Sensor Market was estimated at over USD 2 billion in 2017 and to cross USD 4.5 billion by 2024. The global shipments are forecast to reach over 12 million units by 2024.

Growth drivers
• Increasing adoption of robots across various industries for automation
• Growing demand of service robots in developed economies
• Increasing investments in robotic industry
• Technological advancements in sensor technologies providing expanded capabilities to robots
• Decrease in cost of sensors augmenting market demand
• Rise of collaborative robots augmenting demand for sophisticated sensors
• Upsurge in the logistics and defense robot sales to drive demand in the U.S.
• Made in China 2025 program by government propelling the Chinese robotics industry
• Strong demand from the automobile industry in Germany
•Presence of Universal Robotics and establishment of Odense cluster nurturing robotic industry in Denmark
• Increasing public and private investments propelling market in France
• Growing market of domestic robots in Asia Pacific

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Asia Pacific is the fastest growing region with a CAGR of around 15% in the robot sensor market. This is attributed to the massive demands from China, South Korea, and Taiwan. South Korea’s robot density is 347 per 10,000 persons in manufacturing, Japan’s robot density is 339 and that of Taiwan is 129. This increasing replacement of people with robots across industries is one of the major drivers for the robot sensor market in the region. In addition, the declining cost of sensors is propelling the demand in the conventional systems of manufacturing industries.

In China, one of product manufacturing firms located in Dongguan city replaced 90% of its human workforce with automated machines which helped them to increase the plant productivity by 250% and reduce the chances of defective part production by 80%. Such productive statistics have been possible solely because of effective robotic sensors systems.

Major companies that offer their sensors in the industry are SICK AG, Baumer Group, Cognex, IFM electronic GmBH, ams AG, ATI Automation, Rockwell Automation, Velodyne, Baluff AG, Bionic Robotics, Baumer Group, Carlo Gavazzi, Cognex, CAPTRON Electronic GmbH, Datalogic, Daihen Corporation, EPSON, FANUC, FUTEK Advanced Sensor Technology and Honeywell International Inc.

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Browse Related Report:

Service Robotics Market By Product, Application and Region-Forecasts, 2024

Major players in the service robotics market include DJI, Bluefin Robotics, iRobot Corporation, Intuitive Surgical, Softbank Robotics, Honda Motors Co., Ltd., Medtronic, Northrop Grumman Corporation

https://www.gminsights.com/industry-analysis/service-robotics-market-size

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