This study intends to unfurl the multiple facets of global robotic sensors market and thereby examine how the short-term growth of the market will unfold during the stipulated time span.
Increased Adoption in Transportation and Logistics Accelerates Robotic Sensors Market Growth
Robotic sensing is the subarea of robotics science intended to give the robots sensing capabilities so that the robots are more human-like. Robotic sensing mainly gives the robots the ability to see, touch, hear and move and it uses algorithms that require the environmental feedback. Multiple robot sensors including ultrasonic, the temperature & the humidity, and the force have been in demand to achieve increased robot awareness, which is likely to drive the growth of global robotic sensors market. There are two categories of sensors used in industrial robots they are internal and external. Internal type is used to control the position and velocity of the manipulator’s joints while the external is used to coordinate the operation of the robot with the other equipment.
It is possible to identify several collaborations that robot adoption in the logistics and transportation sector. The e-commerce boom has brought attention to the need for robot innovation and the demand in robotic sensors market is mainly driven by the increased necessity for sophisticated sensors as the robotic technology evolves. For example, in March 2021, XPO Logistics announced a partnership with Balyo for a pilot program to test the automated reach truck made available by the latter. The program’s goal was to help the intelligent reach trucks for the logistics industry, which could improve customer efficiency and support workers at XPO's warehouse. The robot is entirely autonomous and created specifically for distribution hubs.
Critically Growing Need to Automate Internal Logistics Boosts Robotic Sensors Market
Every stage of the supply chain is changing due to automation, including manufacturing, fulfilment, shipping, and logistics. The state of robotics currently utilized in logistics and transportation will inevitably improve due to the rapid developments in AI, machine learning, and automation. The robotics sector will also experience disruption from the arrival of 5G and big data and cloud computing products, making it more efficient, customer-focused, and accurate than ever. Robotic advancements are driven by an urgent need to decrease costs, streamline processes, and improve efficiency. Additionally, as e-commerce rivalry increases, so does the desire for automation that has fuelled the expansion of warehouse robotics. Following the COVID-19 outbreak, manufacturers, particularly those in the automotive and electronics industries, are moving to automation and investing in fleets of AMRs to automate internal logistics. This is expected to elevate the prospects of robotic sensors market. AMR industry leader Mobile Industrial Robots (MiR) reported a 55% increase in sales in Q1 2021 over Q1 2020, with a significant portion of those sales coming from the MiR250, MiR's newest and most portable AMR.
Notably Soaring Adoption Across Manufacturing and Agriculture Underpins Growth of ‘Industrial’ Robotic Sensors Market
Industrial robot sensors are expected to represent the fastest-growing segment of the robotic sensors market over the forecast period. Developing and impoverished countries face a continuous robotic shift in manufacturing and agriculture. However, it is anticipated that employees will continue to pour into the service industry, driving down wages and producing job growth and pay stagnation in the sector in the short- and medium-term can term feel as though manufacturing in developing nations faces an existential danger from the potential for digital technology to automate repetitive activities and eliminate human labour. These forecasts frequently have a technical foundation. However, in less developed nations, institutional and economic viability may be more important than technical considerations regarding labour automation.
Rocketing Popularity of Industrial Robots Forms a Strong Robotic Sensors Market in Asia Pacific
Due to the notable installation of industrial robots in various nations, including South Korea, China, India, Japan, and Taiwan, the Asia Pacific region is predicted to experience the highest growth rate over the projection period. Due to its massive deployment in the region's dominant automotive and semiconductor manufacturing industries, China will lead the regional adoption rate of sensors for robotic applications. A significant element influencing the robotic sensors market is China’s global manufacturing leader and a sizable consumer base for electronics and associated components. It is believed that the nation's robust manufacturing sector in the automotive, electronics, aerospace and military, food and beverage, and other sectors will help to accelerate the robotic sensors market expansion further. The government's increasing investment in the development of the advanced manufacturing industry is expected to benefit the market. "Made in China 2025," a state industrial policy that aims to make China the leader in global high-tech manufacturing, was introduced by the Chinese government.
In addition, "The 14th Five-Year Development Plan for the Robotics Industry" was published by China's Ministry of Industry and Information Technology, National Development and Reform Commission, Ministry of Science and Technology, and other 12 agencies in December 2021. This is China's second five-year growth plan for the robotics sector, and it is essential to promote and support high-quality development from its operating income growth rate of 20%. To continue to increase the number of robots in the country, the five-year plan outlined goals to broaden and deepen robotic applications. Additionally, it seeks to advance industry standardization and foster a more robust, more reliable supply chain. Robotics uses various sensors for touch, proximity detection, and other purposes; therefore, the sector's expansion is expected to accelerate the growth of robotic sensors market. There is enormous potential for development in this regional market as the automotive, electronics, and industrial industries are expanding significantly in other economies, including South Korea, Japan, and India. The provincial government is one of the key factors favouring the growth of robotic sensors market.
Global Robotic Sensors Market: Competitive Landscape
Two of Novanta's business segments, Celera Motion and ATI Industrial Automation, teamed up with MassRobotics in February 2022 to further robotics research. The collaboration intends to boost robotic productivity to grow and develop a new wave of prosperous robotics firms. On the other hand, Sensata Technologies purchased Sndyne Corp. in December 2021. Sendyne Corp. is a top developer of simulation and sensing technologies for the next generation of e-mobility. Its electrification component portfolio and strategy are advanced by the acquisition of Sendyne, which builds on the company's recent Gigavac, Lithium Balance, and Spear Power Systems purchases.
A few players in the robotic sensors market include Fanuc Corporation, Carlo Gavazzi, Cognex Corporation, Infineon Technologies, ATI Industrial Automation, Inc., Honeywell International, Inc., Keyence Corporation, and SICK AG.
Global Robotic Sensors Market is Segmented as Below:
By Robot Type
Key Elements Included In The Study: Global Robotic Sensors Market
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