Robotic Sensor Market Segment Analysis- By Robot Type
Based on Robot type segmentation, Service Robot is analyzed to grow with the highest CAGR of around 10.2% in the global Robotic Sensor Market during the forecast period 2021-2026, owing to a rise in adoption to reduce cost in cleaning, delivery and so on. In professional applications, robotics has significant impact in agriculture, surgery, logistics and public relations, thus increasing the demand for robotic sensor. There is an increasing demand of robots to monitor and everyday manage workloads. To meet this growing demand, robotic sensor will play a crucial role in the maintenance and security of robots. Moreover, the Covid19 pandemic accelerates the adoption of Service robots among institutions for disinfecting surface purpose, which further accelerates the market growth scope for robotic sensor manufacturing companies. In May 2020, IPsoft & Global DWS Corporation collaborated to develop disinfecting surface robot to remove harmful bacteria & virus from specific area. Such developments can influence the market growth of Robotic Sensor in the long run.
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Robotic Sensor Market Segment Analysis- By End-User Industry
Based on End-User industry segmentation, manufacturing industry is analyzed to hold the highest Robotic Sensor Market share of around 22.9% in the global Robotic Sensor Market in 2020, owing to adoption of automation in manufacturing units. Manufacturing industry has been increasing the use of robots to automate repetitive task for reducing margins of errors, thus enabling the workers to focus on productive works. In Manufacturing Industry, robots can be highly efficient from handling raw material to finished product packing. Owing to benefits such as operate 24/7 for continuous production, customize to solve complex functions and so on, Robotic devices are being adopted by manufacturing units to deliver work smoothly, thereby increasing the demand of robotic sensors among robotic device manufacturers. In July 2020, FLIR Systems Inc announced the Industrys first dual sensor module for drone, robotic and imaging original equipment manufacturer i.e. FLIR Hadron. It is designed with features such as light weight, low power and compact to help in reducing developmental cost. Such developments can influence the market growth of Robotic Sensor in the long run.
Robotic Sensor Market Segment Analysis- by Geography
APAC held the highest Robotic Sensor Market share of around 35.6% in the global Robotic Sensor market in 2020 and is further set to grow at a significant rate during the forecast period 2021-2026, owing to the rising adoption of industrial robots. According to the IFR World Robotics report 2020, China adoption of industrial robots rose by 21% and shows a new record of 783000 units in 2019. The factors such as increasing automation in manufacturing units and government investment in developing robots have been contributing to the market growth across the APAC region in long run. According to International Federation of Robotics R & D Programs data, Government of China, being the largest investor in robotics research, invested USD 577 million in 2019 for the research & development of intelligent robots. Such investments will boost the robotic sensor companies. Moreover, governments initiatives to boost the manufacturing capabilities will create opportunities for the adoption of robots, which will further increase the demand of robotic sensors. For instance, Government of China strategic plan i.e. Made in China 2025 to implement the latest technology i.e. intelligent robot technology to upgrade manufacturing capabilities of industries. Such initiatives of the governments will influence the market growth of robotic sensor in the long run.
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Robotic Sensor Market Drivers
Increasing demand for robots in medical application
Growing demand for robots in medical application is set to be one of the major factors analyzed to drive the market forward during the forecast period 2021-2026, owing to its use in invasive surgeries such as neurologic, orthopedic and laparoscopic procedures. The demand for robotic devices increases for rehabilitation treatment, which further increases the demand for robotic sensors. In rehabilitation treatment, robots play a crucial role by helping patients to recover from strokes, disabilities and so on by improving mobility, strength, coordination, and quality of life. In January 2019, BIONIK Inc, launched InMotion ARM/HAND robotic system to help patients rehabilitate from crucial health conditions such as strokes and mobility impairments due to neurological condition. Additionally, Virtual reality is being integrated with rehabilitation robots to expand the range of therapy exercise, thus accelerating physical treatment effects. Robots are also used for variety of routine works such as sterilizing rooms, delivering medical supplies & equipments, thus increasing the demand for robotic sensors among medical robotic manufacturing companies. Presently, the Covid19 pandemic increases the demand of robots among hospitals to prevent healthcare workers from being infected by remotely testing patients for the virus, thus accelerates the demand for robotic sensors among robotic medical device manufacturing company. In June 2021, Hanson Robotics, a Hong Kong based company, developed Humanoid robot Grace. It is designed to relieve the burden of healthcare workers such as diagnose patient and interact as well as comfort the elderly and isolated Covid19 patients. Such developments can influence the market growth of Robotic Sensor in the long run.
Rising adoption of Robots in Military & Defence Sector
The increasing adoption of Robots in Military & Defence Sector for intelligence, surveillance and reconnaissance purpose is set to be one of the major factors analyzed to drive the Robotic Sensor market forward during the forecast period 2021-2026. Technological advancement in robotics technology has compelled military agencies to deploy advanced robotic soldiers in army. For instance, Government of India planned to invest in military robotics by deploying advanced robotic soldiers in army by 2023. Such investments will accelerate the demand of robotic sensors. In military & defense sector, robots can perform broad range of combat tasks which include rescue task, explosive disarmament, logistics support, lethal combat duties, fire support and so on. Moreover, military robots can be used for attacking enemies with greater efficiency. In April 2021, Russian Defense Ministry announced to set up a separate unit of military robots. The special unit will be comprised of 5 Uran-9 tanks, which can be integrated with anti-tank missiles; Ataka guided weapons, 30mm 2A72 automatic cannon and 7.62mm machine gun. The 12 ton Uran-9 Robot tank is designed to support fire, combat, reconnaissance, and counter-terrorism units. Such developments can further accelerate the market growth scope for companies operating in the robotic sensor industry.
Robotic Sensor Market Challenges
High cost of Robots
High cost of Robots acts as a major challenge restraining the market growth of Robotic Sensor. The cost of installing and maintaining robot is quite expensive as it needs to be programmed to do task from time to time. Moreover, robotic device rely on electrical power for controlling robotic sensors and actuators. In case of low power, the robotic sensors cannot function properly is another restraining factor for the growth of the market. Owing to the above mentioned factors, use of robotic sensors will be significantly impacted, thus hampering its market growth.
Robotic Sensor Market Landscape
Partnership, Acquisitions, Collaboration, technology launches and R&D activities are key strategies adopted by players in the Robotic Sensor Market. The Robotic Sensor Market top 10 companies include Keyence Corporation, Rockwell Automation Inc, Honeywell International Inc., ATI Industrial Automation Inc, ifm electronic GmbH, OnRobot A/S, FUTEK Advanced Sensor Technology Inc, OMRON Corporation, FANUC Corporation and Infineon Technologies AG.
In September 2020, OMRON Corporation announced to start selling the B5L Series embedded 3D TOF Sensor Module. The B5L Series Sensor module is designed with unique optical design technology for accurately and easily detecting the surrounding environment and can be used in autonomous robots.
In September 2019, ATI Industrial Automation Inc developed Force/Torque (F/T) Sensing Systems for robotic and automated application. (F/T) sensors provide the highest accuracy and resolution as well as assist robots to capture data accurately.
Manufacturing Industry is analyzed to hold highest share and grow at CAGR of 10.3% during the forecast period 2021-2026, owing to the adoption of robots to automate repeated task.
APAC dominated the Robotic Sensor Market in 2020 with a share in excess of 35.6%, owing to growing investments in development of robots.
Increasing adoption of robots in medical applications is set to be one of the major factors analyzed to drive the market forward during the forecast period 2021-2026.
A. IoT Sensors Market
B. Collaborative Robots Market
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