Robotic Sensors Market to Reach $4.9 Bn

 

According to a new 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.

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.

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.

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.