Robot Sensor Market (Product - Force / Torque, Vision, Ultrasonic, Tactile, Laser Range, and Proximity; Robot Type - Industrial, Service, and Collaborative; Application - Manufacturing, Logistics, Defense, Agriculture, Medical, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

A recent report published by Infinium Global Research on the robot sensor market provides an in-depth analysis of segments and sub-segments in the global as well as regional robot sensor market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional robot sensor market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global robot sensor market. According to the report, the global robot sensor market is projected to grow at a CAGR of 11.0% over the forecast period of 2020-2026.

Market Insight

The sensors provide sensory capabilities to the robots enabling them for better control and monitoring over different operations, for example, to sense physical input such as light, motion, heat, moisture, pressure, or any other entity. Further, sensors respond by producing an output and transmit the information in an electronic form for further processing with the help of signal conditioning, embedded algorithms, and a digital interface. The robot sensors collect highly accurate environmental data with a minimum level of noise. These sensors used in robots to measure variations in position, light, sound, temperature, or others and react to such changes. Moreover, robots with such sensors are adopted in the manufacturing, logistics, healthcare, education, and sports sectors.

The surroundings around COVID-19 will indisputably impact aspects of the robot sensor market beyond healthcare. Many industries have been affected by the spread of coronavirus. The production of hardware and other components used for robots has decreased during the period of pandemic owing to the government restrictions on businesses. Furthermore, the supply chain of the hardware industry has been disrupted during the pandemic. However, as the pandemic situation comes under control, the production and supply of components required for robot manufacturing are expected to restore to their normal state. The growing number of advancements in technology is driving the growth of the robot sensor market. Moreover, increasing labor shortages across various regions are anticipated to boost the demand for robots and robot sensors. Several countries across the world are facing a shortage of labor and robots offer better solutions to address the workforce shortage. However, the concerns over data privacy and security are anticipated to hamper the market growth. The major issue with respect to privacy involves data protection and data transfer by robot sensors. On the other hand, technological progress in automation encourages the higher adoption of robots. The technical ability to automate a variety of tasks with changing complexities has encouraged an exponential demand for robots in numerous industries.

The robot sensor market is presently in its growing stage and is anticipated to register substantial growth in the near future, attributed to high investment in R&D activities by market players in robotics. Other factors that boost the market growth consist of an increase in demand for robots and automation across various sectors. In addition, factors such as an increase in trends toward the Internet of Things, and an upsurge in the requirement of robot sensors for the development of smart cities act as major drivers that help in the robot sensor market growth. Moreover, increasing government initiatives to promote automation and digitization is another factor projected to offer lucrative market opportunities globally. However, the higher cost of installation and operating cost of robots is anticipated to hamper the market growth for robot sensors.

Among the geographies, the Asia Pacific region is expected to at the fastest rate in the global robot sensor market as countries such as China and Japan are the front-runners of the adoption of new technologies. Asia Pacific region is expected to witness high growth during the forecast period owing to the increased utilization of robots in the automotive and consumer electronics sectors. Moreover, the energy-saving functions of robot sensors are also driving the global market in the Asia Pacific region. However, the North American region generated the highest revenue in the global robot sensor market. The upsurge in the adoption of robotics and automation across various sectors is intensifying the global market specifically in the North American region. Further, factors such as the rising demand for the robots in defense, logistic, and healthcare has increased the growth of the global robot sensor market in the region.

Segment Covered

The report on the global robot sensor market covers segments such as product, robot type, and application. On the basis of product, the sub-markets include force / torque, vision, ultrasonic, tactile, laser range, and proximity. On the basis of robot type, the sub-markets include industrial, service, and collaborative. On the basis of application, the sub-markets include manufacturing, logistics, defense, agriculture, medical, and others.

Companies Profiled:

The report provides profiles of the companies in the market such as Baumer Holding AG, Cognex Corporation, Sick Holding Gmbh, Keyence Corporation, Rockwell Automation, Inc., Honeywell International Inc., Seiko Epson Corporation, FANUC Corporation, Allied Automation, Inc., and FUTEK Advanced Sensor Technology, Inc..

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of robot sensor market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.