Robotic Sensors Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

 The robotic sensors market is anticipated to witness a CAGR of approximately 8% over the forecast period of (2021 - 2026). With the emergence of autonomous robots in the industrial sector, sensor manufacturers got the right spot to augment their product offering in reciprocation with the need for sensing equipment. Currently, most of the industries like industrial manufacturing, automotive, transportation & logistics, defense, and many others have adopted autonomous robotics technology as their main mode of the manufacturing process.

- Owing to the new trend of collaborative robots (Cobots), where humans and machines are working hand-in-hand, sensors are playing a major role in avoiding accidents and in improving the manufacturing process. According to the Robotic Industries Association, by 2025, Cobots will have a market share of 34% among all robots in the global market.

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Key Market Trends

Automotive and Semiconductor are Major Share Holders of Sensors in Robotics Industry

- In recent years, automotive OEMs have adopted modern robotics technology to reciprocate demand for fast-paced vehicle manufacturing. To lower labor costs and to achieve six sigma tag for the manufacturing process, many automakers have implemented robotic automation on the shop floors of manufacturing facilities across the globe.

- Moreover, with growth in demand for precision manufacturing, autonomous robots have been integrated with many sensing equipments to result in error-free process deliveries. With the emerging trend of Nanomaterial manufacturing, autonomous robots are being extensively used for the manufacturing of small and sophisticated parts of consumer electronics goods.

- To achieve high accuracy, robotic vendors are integrating motion, force, temperature, pressure and many other types of sensors to augment robotic functions. According to the World Robotics 2018 Industrial Robots report, robotic sales increased to 121,300 units in 2017 for the electrical/electronics industry, which was 32% of the total global robotics supply.

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Asia -Pacific to Experience a Healthy Growth Rate

- Asia-Pacific is expected to record the highest growth rate over the forecast period, owing to noteworthy implementation of industrial robots in various countries including China, India, Japan, South Korea, and Taiwan. China is dominating the regional adoption rate of sensors for robotic applications, owing to the massive deployment in the country’s dominating semiconductor and automotive manufacturing industries.

- As these sectors are also developing at a high rate in other economies such as India and Japan, there is vast potential for growth in this regional market. The regional government is also a major factor for the development of the sensors in the robotics market.

Competitive Landscape

The robotic sensors market is highly competitive and consists of several global as well regional players including ATI Industrial Automation, Inc., Baumer Group, FANUC Corporation, FUTEK Advanced Sensor Technology, Inc., Honeywell International Inc., Infineon Technologies AG, OMRON Corporation, Sensata Technologies, Inc., TE Connectivity, and Tekscan, Inc. These players with a competitive share in the market are focusing on expanding their customer base across global regions. These companies are leveraging strategic collaborative initiatives to increase their market share and regional presence.

- March 2019 - FANUC is extending its offering in the robotics portfolio by introducing new technologies in robotics automation. By levering its expertise in IoT and FIELD system, FANUC is going to implement advanced vision sensors on its robotic platform.

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