Robot Sensors Market worth over $4bn by 2026

Robot Sensors Market size is set to surpass USD 4 billion by 2026, according to a new research report by Global Market Insights, Inc.
 

Robot sensors are experiencing a wide adoption from the automotive sector due to the growing deployment of collaborative robots in car manufacturing facilities across the globe. The manufacturing process of an automotive vehicle in an industrial plant is a time & cost-intensive process. These robots accelerate automotive production by delivering high accuracy at the assembly line, vehicle painting area, and quality inspection. Many automotive OEMs are implementing automation on the shop floor to achieve six sigma tags in manufacturing and to lower labor cost, accelerating the demand for robot sensors.

 

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Rising government initiatives toward the development of robotics and automation will create new opportunities for the robot sensors market. The European Commission and a consortium of 180 companies launched euRobotics, which is a USD 3.8 billion joint initiative to develop robots. According to the International Federation of Robotics (IFR) report 2019, the global deployment of robots in 2018 was more than 422,271 units with a growth rate of 6%, which amounts to USD 16.5 billion (without peripherals and software). Countries including the U.S., Japan, China, Korea, and Germany accounted for a 74% share in the total global robot installations in 2018. This will further augment the market demand, creating growth opportunities for sensor manufacturers.
 

High initial investments and complexity associated with the programming of robots are hindering the market expansion. Some robot sensors including laser range and tactile are witnessing technological innovations for advanced robotics applications. Due to recent advancements in technology, these sensors are observing high costs compared to other robot sensors in the market. However, companies are focusing on developing low-cost sensors to be implemented in the robotic applications. For instance, in June 2020, Facebook launched the DIGIT, a low-cost tactile sensor for a multi-fingered robotic hand. The new sensor will have several applications including robotic implants, computer hardware, and security system.
 

Ongoing technological advancements in 3D vision sensing are expected to propel the robot sensors market revenue

South Korea Robot Sensors Market

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The vision sensor segment held a market share of over 20% in 2019 and is predicted to showcase a growth rate of more than 11% through 2026 driven by an increasing adoption in collaborative and industrial robots for pick & place applications. The vision sensor uses technologies including 2D camera, 3D camera, and CMOS for object detection, navigation, & obstacle detection. Furthermore, emerging technologies, such as CMOS image sensor technology and 3D vision stereo camera, are prominently used in the industrial and automotive markets, propelling the demand for vision sensors in the industry.
 

Vision sensors have wide adoption in automated processing lines to ensure product quality and uniformity across batches. These sensors are also experiencing a rising adoption in the logistics, automotive, and food & beverage sectors for product inspection and fault detection. Companies are highly focusing on continuous research & development activities to cater to the high demands and provide technically advanced vision sensors.
 

Browse key industry insights spread across 350 pages with 551 market data tables and 38 figures & charts from the report, “Robot Sensors Market Size, By Product (Force / Torque, Vision, Ultrasonic, Tactile, Laser Range, Proximity), By Robot Type (Industrial, Service, Collaborative), By Application (Manufacturing, Logistics, Defense, Agriculture, Medical, Domestic, Entertainment), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/robot-sensor-market
 

Surging demand for industrial robots in the consumer electronics sector

The industrial robot sensors market dominated around 50% revenue share in 2019 and is projected to observe a CAGR of 13% till 2026 owing to rising demand in the automotive, food & beverages, consumer electronics, and other manufacturing sectors. Manufacturers of consumer electronics are installing industrial robots in the manufacturing sector to cut down human intervention and increase precision in work.
 

With the rising demand for precision manufacturing in the consumer electronics sector, companies are integrating autonomous robots with high-end sensors for error-free process deliveries. Consumer electronic products such as smartphones, laptops, cameras, etc., are made up of thousands of components that require high precision in assembly. Assembly robots require several robot sensors including ultrasonic, vision, force-torque, and LiDAR sensors to achieve accuracy and handle miniaturized electronic components.
 

The increasing adoption of technologies, such as IoT, artificial intelligence (AI), and connected devices, in the manufacturing sector will fuel the growth of industrial robots. Additionally, the emergence of industrial 4.0 and the adoption of smart factories in developing economies will drive the robot sensor industry growth. Several government initiatives that support new digital technologies will further influence the market demand.
 

Proliferation in the global e-commerce industry will accelerate the adoption of robots in logistics applications

The logistics application segment is estimated to expand at 13% from 2020 to 2026. The growing e-commerce industry globally is one of the major drivers for the higher adoption of robot sensors as companies are highly investing in robots to provide exceptional customer service. The logistics sector is adopting lightweight flexible robots in warehouses to increase operational efficiency. Amazon, Flipkart, & Alibaba are some of the e-commerce companies that deploy robots in their factories for pick & place, packaging, and other applications.
 

Increasing government spending on improvising the U.S. defense & military infrastructure

The North America robot sensors market accounted for 40% revenue share in 2019 and will register a growth of 12% during the forecast period led by the growing adoption of robots across various industries including defense, food & beverage, retail, automotive, and others. The increasing government spending on improvising the defense & military infrastructure is supporting the industry growth in the region.
 

The region is experiencing rapid adoption of advanced technologies & innovations in sensor technology to implement effective automated machinery in various industrial sectors. For instance, according to the International Federation of Robotics report 2019, robot sales in the U.S. rose to 38,000 units. The U.S. automotive parts manufacturing sector witnessed the highest share with the deployment of 9,939 robots and a growth rate of 9% in 2018. The U.S. robot density is more than double in comparison with China. The industrial robot installation in the U.S has increased by 14% compared to the previous year, further impelling the growth of the market.
 

Key players in the market include Keyence, Rockwell Automation, FANUC, Honeywell International, Inc., EPSON, ifm electronic GmbH, OptoForce, FUTEK Advanced Sensor Technology, OMRON, and Infineon Technologies, among others. The eminent participants are investing heavily in new capabilities and are implementing several merger & acquisition strategies to gain a competitive edge in the market. For instance, in September 2019, Keyence Corporation of America launched a new vision sensor, which is based on Artificial Intelligence (AI) and finds application in industrial robots.
 

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