Toevolution

The Global Robotic Sensors Market is expected to record a positive CAGR of ~ 17% during the forecast period (2022-2028), and reach a revenue of ~US$ 5 Bn by 2028. Due to the introduction of Industry 4.0 and widespread digitization, the utilization of robots is likely to grow throughout the forecasted period. The adoption of autonomous and collaborative robots across end-user industries is also anticipated to enhance demand for robotic sensors.

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Key Growth Drivers

• The availability of relatively affordable, energy-efficient robots and the growth in organizations' requirements for automation and safety are expected to drive the growth of the worldwide robotic sensors market.
• According to the International Federation of Robotics (IFR), a non-profit organization, 486,800 units of industrial robots were sold in 2021, an increase of 27% compared to the previous year.
• According to the Oxford Economics 2019, an independent economic advisory firm, over the past 20 years, the number of robots in use has increased three-fold, reaching ~2.25 million. In the following 20 years, trends indicate that the number of robots will grow even more rapidly, likely reaching 20 million by 2030, with 14 million of those in China alone.
• Another significant problem affecting the growing deployment of robots is the lack of skilled workers. Along with the labor shortage, the rising wages of the workforce are also having an influence on the growth of robot demand globally. Additionally, organizations must constantly train their staff to adopt new technologies, which compels them to use robotic systems and encourages market vendors to develop new system components.
• The COVID-19 pandemic has accelerated the development of robots. The use of modern technology is increasing, especially in manufacturing and healthcare as these sectors adapt to the shifting preferences and requirements of the modern world. Robotic sensors are used by drones and robots in the military and defense sector to gather precise location, velocity, and attitude data.

Key Trends by Market Segment

By Type:  Force & torque sensor segment is likely to hold the major market share in 2021 due to its high-precision, non-contacting, wear-free sensors having a long lifespan and providing long-term stability.

• A Force and Torque (FT) sensor segment is a type of electronic instrument used to measure, track, record, and control the linear and rotational forces acting on it. In other words, the FT sensor in a mechanical or robotic system can be compared to the tiny receptors that give animals their sensation of "touch" in their skin.
• Due to the growing demand for safe and collaborative robots in manufacturing, TE Connectivity in January 2020 launched a torque sensor for cobots and developed a safety torque sensor with integrated and improved functional safety, including better accuracy and speed.

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By Application: The Industrial robot sensor segment accounts for the majority share of the Robotic sensors Market in 2021 owing to the advancement of force/torque sensors and vision systems in the industrial robot sensors segment.

• The industry's growth is attributed to the increasing use of industrial robots in manufacturing facilities. Force/torque sensors, collision detection sensors, and vision sensors are the principal sensors used by these industrial robots.
• According to the International Federation of Robotics in 2021, China, Japan, the United States, the Republic of Korea, and Germany are the top five countries with the largest industrial robot markets. These nations are responsible for 76% of all robot installations worldwide, which is driving the usage of robot sensors in business.
• China accounted for half of all robot installations worldwide in 2021 and was guiding the world's recovery from the COVID-19 pandemic. According to the International Federation of Robotics, the industrial robotics market in China experienced strong development with a new high of 243,300 installations in 2021, an increase of 44% from 2020. The rising number of manufacturing robots in developed countries will drive the industry's use of robot sensors.

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By End User: The manufacturing sector holds the largest market share in the robotic sensors Market in 2021 due to the widespread use of automation in manufacturing industries, which is utilized for a wide range of tasks like packing, picking, placing, rolling, and others.

• The Manufacturing sector has a strong demand due to the production units' high acceptance of automation. Sensor-based collaborative and humanoid robots are used in this business for a range of tasks, including packaging, picking, rolling, and others.
• International Federation of Robotics (IFR) reported that electronics industry was the largest end-user industry with 132,000 installations, witnessing a +21% growth over previous year. However, Automotive industry which was the second largest end-user industry with 109,000 installations witnessed much higher growth of +37% over previous year.
• According to Oxford Economics' 2019, robots are utilized in India and other nations; in the previous 20 years, US$2.25 million worth of robots have operated internationally.
• According to the International Federation of Robotics, in 2021, a total of 354,500 units were sold in Asia representing 73% of global market, and a 33% increase from 2020. The majority of units were adopted by the electronics sector (123,800 installations, +22%), which was followed by the automobile sector's strong demand (72,600 installations, +57%) and the metal and machinery sectors (36,400 installations, +29%).

By Geography: Asia Pacific continues to be the world's largest market for robotic sensors as it accounted for roughly 73% of all newly deployed robots in 2021, according to IFR.

• Stringent government actions that assist the adoption of smart factories across Asia Pacific countries as China, Japan, South Korea, and Taiwan is driving the industry’s need for automation.
• According to Oxford Economics, in 2019 stated that China alone could employ 14 million robots over the period of the next 11 years.

Competitive Landscape

The Robotic sensors market is highly competitive with ~200 players, which include globally diversified players, regional players as well as a large number of country-niche players having their niche in Robotic sensors for multiple industries.

Large global players hold the largest market share, while regional players hold the second largest share. Some of the major players in the market include ATI Industrial automation, Balluf Gmbh, Baumer Group, Cognex Corporation, FUTEK Advanced Sensor Technology, IFM Electronic, Infineon Technologies, OnRobot, Sensata, TE Connectivity, and others.

The leading global specialist companies such as Balluf Gmbh, Baumer Group, and FUTEK Advanced Sensor Technology are highly focused on providing significant Sensors for various applications that can be used across multiple industries, including Automotive, Food and Beverages, Healthcare, Logistics and Transportation, and more.

Recent Developments Related to Major Players

• In February 2022 Novanta Inc. established a new collaboration with MassRobotics to support the development and expansion of the following wave of prosperous robotics firms.
• In July 2022 Balluff introduced its New Generation of the compact, reliable position measuring systems in profile and rod designs. These systems include narrow magnetostrictive sensors for contactless position measurement.

Conclusion

The market for robotic sensors is expected to continue expanding at a significant double-digit pace of ~17%, which is considerably faster than the rate the market experienced between 2017 and 2021. Owing to Industry 4.0 and digitization, the adoption of robots has increased significantly over the forecast period. Over the projection period, robotics developments are anticipated to lead to more flexible manufacturing methods, which are expected to result in a massive rise in the adoption of robotic sensors. With the rising deployment of autonomous and collaborative robots across end-user industries, the demand for robotic sensors is expected to rise to provide more precision and accuracy while operating. Though the market is highly competitive with ~ 200 participants, few global players control the dominant share and regional players also hold a significant share.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients and report delivered within a maximum of 2 working weeks.

Ken Research has recently published report titled, Global Robotic Sensors Market Size, Segments, Outlook, and Revenue Forecast 2022-2028, that segments the market into by type, application, and end-user industries. In addition, the report also covers market size and forecasts for the four regions. The revenue used to size and forecast the market for each segment is USD Million.

Market Taxonomy

• Force & Torque Sensor
• Temperature Sensor
• Pressure Sensor
• Position Sensor
• Proximity Sensor
• Navigation sensor
• Vision Sensor
• Others

By Application

• Industrial Robot Sensors
• Service Robot Sensors
• Collaborative Robot Sensors

By End User

• Aerospace & Defense
• Automotive
• Chemicals
• Consumer Electronics
• Energy & Utility
• Food & Beverages
• Healthcare
• Logistics & Transportation
• Manufacturing
• Agriculture
• Others

By Geography

• North America (USA, Canada, Mexico)
• Europe (Germany, UK, France, Spain, Italy, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Indonesia, Australia, Rest of Asia Pacific)
• LAMEA (Latin America, Middle East, Africa)