Robotic Sensors Market to Reach $4.9 Bn, Globally, by 2031 at 10.78% CAGR: Allied Market Research

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Jul 05, 2022, 04:07 ET

Surge in need for automation & safety in organizations and availability of affordable, energy-efficient robots drive the growth of the global robotic sensors market.

PORTLAND, Ore., July 5, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Robotic Sensors Market by Type (Proximity Sensor, Vision Sensor, Position Sensor, Temperature Sensor, Force (Torque) Sensor, Others), by Vertical (Logistics, Aerospace and Defense, Manufacturing, Healthcare, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global robotic sensors industry was estimated at $1.8 billion in 2021, and is anticipated to hit $4.9 billion by 2031, registering a CAGR of 10.78% from 2022 to 2031.

Drivers, Restraints, and Opportunities-

Surge in need for automation & safety in organizations and availability of affordable, energy-efficient robots drive the growth of the global robotic sensors market. On the other hand, limited shelf life associated with robotic sensors hinder the growth to some extent. However, increase in adoption of robotics technology in emerging economies has been beneficial for the industry.

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Covid-19 Scenario-

The outbreak of the pandemic gave way to several disruptions in a number of verticals including the consumer product safety testing industry. There was a steep decline in demand for robotic sensors which impacted the global market negatively, especially during the initial period.
Dearth of skilled workforce and availability or cancellation of projects aggravated the market condition even more.
However, as the whole world is getting back to normalcy, the market for electron microscopy has also gotten back to its previous stance.

The Force Sensor Segment to Dominate by 2031-

By type, the force sensor segment contributed to the major share in 2021, holding around one-third of the global robotic sensors market. This is attributed to the fact that plasticization is an economic way to obtain waterproof, stain-resistant, anti-slipping, comfortable, and safe floors. The proximity sensor segment, however, would cite the fastest CAGR of 11.8% during the forecast period.

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The Manufacturing Segment to Maintain the Lion's Share-

By vertical, the manufacturing segment accounted for the major share in 2021, holding nearly one-third of the global robotic sensors market. This is attributed to the fact that use of robots in the manufacturing industry enables manufacturers to achieve high quality, reliability, economic efficiency, and less product life cycle cost. The logistics segment, on the other hand, is expected to grow at the fastest CAGR of 11.69% from 2022 to 2031.

Asia-Pacific Garnered the Major Share in 2021-

By region, the global robotic sensors market across Asia-Pacific had the lion's share in 2021, generating nearly two-fifths of the global bio plasticizers market. The Europe region, however, is projected to portray the fastest CAGR of 11.17% by 2031. This is due to widespread adoption of robots across major European countries such as the UK and Germany.

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Key Players in the Industry-

Fanuc Corporation
Honeywell International Inc.
ATI Industrial Automation, Inc.
Baumer group
Infineon Technologies AG
OMRON Corporation
Sensata Technologies, Inc.
FUTEK Advanced Sensor Technology, Inc.
TE Connectivity Ltd.
Tekscan, Inc.
Ifm Electronic
Schneider Electric
Keyence Corporation
Cognex Corporation

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