Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Robot Sensor market.
Trusted Business Insights presents an updated and Latest Study on Robot Sensor Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Robot Sensor market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Get Sample Copy of this Report @ Robot Sensor Market: by Product (Light Sensor, Sound Sensor, Temperature Sensor, Contact Sensor, Navigation Sensor, and Others) by Application (Manufacturing, Healthcare, Agriculture, Entertainment, Residential, and Others)-Global Industry Analytics, COVID-19 Business Impact, and Trends, 2020 -2029.
The robot sensor market is driven by the rising demand for robotics in the automotive sector. In 2017, the total robot sales in this sector increased by 22% as compared to 2016. With numerous automotive manufacturers aiming to increase their vehicle manufacturing capacity, the demand for robots is projected to grow over the forecast timeframe. This is evident form the growing number of vehicles manufactured annually. In 2018, the total vehicles manufactured were around 95.6 million units in comparison to 87.5 million units in 2013. This is due to the rising adoption of automation and it is expected that the trend will continue. Thus, the demand for robot sensors market is bound to rise.
Rising demand in the healthcare sector is driving the market. Robots are manly used in medical transportation, surgical assistance, rehabilitation, and many more. Various organizations that provide robots to this industry are investing heavily in robotics. In 2019, organizations such as Intuitive Surgical Inc. and Corindus Vascular Robotics Inc. invested around USD 2,000 Million and USD 15 Million respectively that are driving the demand for robot sensors. However, high initial investments and maintaining regulatory compliance in the manufacturing of these sensors are anticipated to be major drawbacks for the market development during the forecast timespan. Growing adoption of Internet of Things (IoT) is anticipated to open new avenues for the market over the coming years.
Robot sensor market is bifurcated on the basis of product, application, and region. Based on product, the market is further segmented into light sensor, sound sensor, temperature sensor, contact sensor, navigation sensor, and others. The navigation sensor segment is projected to grow at a considerable rate considering the rising investments in technology. On the basis of application, the robot sensor market is divided into manufacturing, healthcare, agriculture, entertainment, residential, and others. The manufacturing segment is anticipated to witness significant demand for the robot sensors over the coming years. This growth is due to the adoption of robots in various assembly lines over the product manufacturing process.
Asia Pacific region is anticipated to capture a substantial chunk of the global robot sensor market over the forecast period. China, South Korea, and Japan are projected to generate huge demand for the product in this region. Rising investments in robotics is fueling the demand for robot sensors. Latin America is anticipated to witness notable rise in the robot sensor market over the estimated timespan. This growth is due to the rising demand for automation in the agriculture sector. Brazil and Argentina are expected to be the most lucrative markets in this region.
Noticeable players in robot sensor market include ATI Automation, Baumer Group, SICK AG, Baluff AG, Honeywell International Inc., Infineon Technologies, CAPTRON Electronic GmbH, Bionic Robotics, Cognex Corporation, Epson Corporation, FANUC, and Schneider Electric among others. Major players are focusing on acquisition to expand their business and gain a competitive advantage in the market.
The report segment of global robot sensor market as follows:
Global Robot Sensor Market: Product Segment Analysis
Global Robot Sensor Market: Application Segment Analysis
Global Robot Sensor Market: Regional Segment Analysis
Middle East and Africa
Quick Read Table of Contents of this Report @ Robot Sensor Market: by Product (Light Sensor, Sound Sensor, Temperature Sensor, Contact Sensor, Navigation Sensor, and Others) by Application (Manufacturing, Healthcare, Agriculture, Entertainment, Residential, and Others)-Global Industry Analytics, COVID-19 Business Impact, and Trends, 2020 -2029.
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