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Robot Sensor Market in Asia Pacific is Projected to Grow At A CAGR of 15% Over 2018 – 2024

Author : Ronak Bora | Published Date : 2019-06-11 

Asia Pacific is the fastest growing region with a CAGR of around 15% in the robot sensor market. This is attributed to the massive demands from China, South Korea, and Taiwan. South Korea’s robot density is 347 per 10,000 persons in manufacturing, Japan’s robot density is 339 and that of Taiwan is 129. This increasing replacement of people with robots across industries is one of the major drivers for the robot sensor market in the region. In addition, the declining cost of sensors is propelling the demand in the conventional systems of manufacturing industries.

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The industrial revolution 4.0 has accelerated the use of autonomous and collaborative robots in the production plants across the manufacturing industry, which is contributing toward the growth of robot sensor market. The robots are being increasingly adopted in production plants that can perform exceedingly complex tasks with the highest precision, ensuring human safety. For instance, BMW, an automobile giant uses flexible assistance systems such as exoskeletons and other automated solutions. The company has installed around 60 lightweight collaborative robots by Universal Robots in their production facilities in 2017.

The force-torque units in the robot sensor market is projected to grow at a CAGR of 12.5% owing to the increasing penetration of their low-cost. For instance, Robotiq launched FT 300 force-torque solutions for Universal Robots. These components can be integrated with Universal Robots in manufacturing plants for operations such as pick and place, machine tending, finishing, insertion, quality testing, and assembly. Force-torque sensors are imparting robotic arms with object-sensing capabilities that are significant for the diverse applications that robots are performing in today’s smart factories.

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Moreover, the demand for robot sensor market in collaborative segment is projected to grow extensively to impart machines with senses to work collaboratively with humans and ensuring safety. The need for presence sensing in collaborative systems is creating an industry for different sensors that can be integrated into a robot for more productive and efficient automation. For instance, ultrasonic sensor demand has grown as these components are now installed on the end-of-arm tools together with safety gates zone monitoring and other safety devices around the robot installation. The force-torque and vision sensor segment are projected to show a lucrative growth with the rise of collaborative systems.

The staggering demand from the industrial, manufacturing, and other commercial sectors to ensure efficient outcomes will have a favorable impact on robot sensor market trends. The increasing availability of next-generation and AI-assisted robotic systems will also propel the product demand over the years ahead. Driven by the ever-rising acceptance of robotic automation across the globe, robot sensor market will surpass a revenue collection of USD 4.5 billion by the end of 2024.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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