Robot sensor market estimated to surpass $4 billion by 2026

A recent study performed by market research firm Global Market Insights found that the robotic sensor market is expected to be worth over $4 billion by 2026. This is in part thanks to the cost reductions we have seen over the recent years of components and products.

AI and IoT has taken off like never before in recent years, forcing more of these sensors to be manufactured to support the ever-growing demand. The current sensor market is split into force/torque, tactile, ultrasonic, laser range, vision, and proximity sensors.

In the future

Over the next few years, it is estimated that ultrasonic sensors will grow at 11% compound annual growth (CAGR). This will lower the cost of the sensors compared to other and will see wider adoption in smart factories for sensing and pre-sensing purposes.

While AI and IoT have added to the market share of these sensors, the big users are expected to be factories that are converting into smart factories. These smart factories are using sensors on robotics to replace humans and do repetitive jobs more efficiently than their human counterparts. The highest user of these sensors will likely continue to be the manufacturing sector that currently makes up around 35% of it.

Key players

The study has also outlined the key players who build and offer the sensors. This includes Keyence, Rockwell Automation, FANUC, Honeywell International Inc., EPSON, ifm electronic GmbH, OptoForce, FUTEK Advanced Sensor Technology, OMRON, and Infineon Technologies.

These companies all have a focus on developing new products within the sensor world. An example of this is ATI Industrial Automation. In September 2019, they announced the development for force/torque sensing systems for robots, allowing them to know the amount of force applied at a high accuracy and resolution so the computers know more about the surroundings.

You can read the full report via this link, which takes a deeper look at the sensor market and what the main drivers of growth are and will be in the coming years.

Photo: Global Market Insights