Press release
Robotic Sensors Market Size is Projected to Reach $3.96 Billion by 2028, growing at a CAGR of 12.2% | Market Share, Trends, Growth, Demand, Key Players, And forecasts 2024-2033
Robotic Sensors Market Report
The Business Research Company offers in-depth market insights through Robotic Sensors Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The robotic sensors market size has grown rapidly in recent years. It will grow from $2.2 billion in 2023 to $2.5 billion in 2024 at a compound annual growth rate (CAGR) of 13.5%. The growth in the historic period can be attributed to expansion of robotics in manufacturing, industrial automation growth, demand in automotive manufacturing, growth of collaborative robots (Cobots), increasing need for precision and accuracy, expanding applications in healthcare.
The robotic sensors market size is expected to see rapid growth in the next few years. It will grow to $3.96 billion in 2028 at a compound annual growth rate (CAGR) of 12.2%. The growth in the forecast period can be attributed to rise of service robotics, integration in agricultural robotics, adoption in consumer electronics, development of AI-powered robots, focus on sensor fusion. Major trends in the forecast period include advancements in sensor technology, integration of artificial intelligence (AI), rise of edge computing for sensor data processing, multi-sensor fusion for comprehensive perception, robotic sensors for environmental monitoring.
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Market Segmentation:
The robotic sensors market covered in this report is segmented -
1) By Type: Force and Torque Sensor, Temperature Sensor, Pressure Sensor, Position Sensor, Proximity Sensor, Vision Sensor, Other Type of Sensors
2) By End-User: Aerospace And Defense, Automotive Process And Packaging, Logistics, Manufacturing, Other End Users
Major Driver - Automated Future Drives Robotic Sensors Market
The increasing adoption of robots for automation is expected to propel the growth of the robotic sensors market going forward. Robots refer to machines that are designed to perform tasks and are typically programmed to carry out specific functions, using a combination of sensors, actuators, and control systems. The adoption of robots for automation helps in increasing productivity and minimizes the shortage of skilled labor, where robotic sensors are essential components that enable robots to perform their functions by interacting with the environment and carrying out useful tasks. For instance, in 2022, according to the World Robotics Report by the International Federation of Robotics (IFR), a Germany-based non-profit organization, there has been a significant surge in the installation of new industrial robots across the globe. It indicates that 517,385 new industrial robots were installed in factories worldwide in 2021, representing a remarkable year-on-year growth rate of 31%. Additionally, the total number of operational robots in use globally has also reached a new record of approximately 3.5 million units. Therefore, the increasing adoption of robots for automation drives the robotic sensors market.
Competitive Landscape:
Major companies operating in the robotic sensors market report are Panasonic Corporation, Schneider Electric, TE Connectivity Ltd, STMicroelectronics, Infineon Technologies, Renesas Electronics Corporation, KEYENCE CORPORATION, Rockwell Automation, Inc, Omron Corporation, ams-OSRAM AG, IAI Corporation, Sensata Technologies, Vishay Intertechnology, Inc., SICK AG, DAIHEN Corporation, ifm electronic, Cognex Corporation, Melexis, Allegro MicroSystems, LLC, Datalogic S.p.A, Carlo Gavazzi, ATI Industrial Automation Inc., Oriental Motor, Futek Advanced Sensor Technology Inc., Baumer Group, FANUC Corporation, Tekscan, CAPTRON Electronic GmbH, Hans Truck GmbH and Co KG
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Top Trend - Advanced Technologies Boost Robotic Sensors Market Dynamics
Major companies operating in the robotic sensors market are developing innovative products with advanced technologies such as force and torque sensors, which are used in robotic technology to enable robots to perform force-sensitive tasks such as precise assembly of automobiles, where it is essential to sense the right force and torque values. In October 2021, ATI Industrial Automation, a US-based developer of robotic accessories, launched its ultra-thin Mini43LP Force/Torque Sensor, which is designed to compactly enhance the accuracy and repeatability of R&D, assembly, and other tasks. The Mini43LP sensor body is less than 8 mm tall, making it uniquely suited for smaller work envelopes and preserving the robot's lifting power for end-of-arm tools.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Robotic Sensors Market Characteristics
3. Robotic Sensors Market Trends And Strategies
4. Robotic Sensors Market - Macro Economic Scenario
5. Robotic Sensors Market Size And Growth
…..
27. Robotic Sensors Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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