Few Diverse Global Players Dominate the Market Holding ~50% of Revenue Share despite Presence of about s Competitors Comprising a Large Number of Country-Niche Players and Some Specialist Players, finds a recent market study on Global Robotic Sensors Market by Ken Research
Robots are mechanical devices that function autonomously and have been designed for a variety of uses. Robotics includes many different tasks like welding, assembling, monitoring, and search and rescue. Robot sensors are any of the various types of sensors utilized in a robot’s components to satisfy its unique requirements. In order to make robotics mechanical and achieve increased production, these sensors are necessary. Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.
Global Players that Constitute Just 20% of Total Number of Competitors Hold Largest Revenue Share of 50% While Regional Companies Also Have A Strong Presence and Hold 30%
A comprehensive competitive analysis conducted during the Research Study found that the Global Robotic Sensors Market is highly competitive with ~200 players which include globally diversified players, regional players as well as a large number of country-niche players having their niche in the robotic sensor for multiple industries. The large global players comprise about 20% in terms of the number of companies and hold ~50% of the market revenue share followed by regional players which account for ~35% of the market revenue. Manufacturers of sensors with qualities like location, orientation, velocity, acceleration, distance, size, force, moment, temperature, brightness, and weight represent the majority of the country’s niche players. Some of these that effectively adapt to develop application-specific solutions are frequently bought up by major global players looking to quickly expand and diversify.
Leading Global Specialists’ Ongoing Initiatives To Supply Robotic Sensors To A Variety Of End-User Industries Are What’s Driving Their Revenue Growth In This Market.
Detailed comparative analysis of key competitors available within the Research Study shows that specialist companies such as Balluf gmbh, Baumer Group, and FUTEK Advanced sensor technology, are highly focused on providing a significant number of Robotic Sensors products that can be used across multiple industries, including Manufacturing, Automotive, Aerospace and Defense, Chemical, and many more.
COVID-19 Caused A Sudden Halt To Industry, Which Hindered The Global Production Of Raw Materials.
The COVID-19 epidemic has accelerated the utilization of robotic technologies. The COVID-19 pandemic had a severe negative effect on the industry because of a variety of issues including a lack of workers and project delays or cancellations brought on by partial or total lockdowns around the world. As a result of the COVID-19 epidemic, which ensures that contactless services are urgently needed, several regions are currently deploying robots in end-user industries like hospitals, offices, shop floors, and factories. It appears that the automation boom will continue even after the pandemic comes to an end. Robotic Sensors are bringing a broad range of services close to one another, including healthcare, food delivery, and group work in an office after using public transportation, and even manufacturing goods in a factory. Developing countries like India don’t use automation as much as South Korea, Singapore, and Germany have. The International Federation of Robotics reported in December 2021 that more than three million industrial robots were working in companies throughout the world in 2020. IFR claimed that from 66 robots per 10,000 human workers in 2015 to 126 per 10,000 in 2020, the utilization of industrial robots in manufacturing doubled in that time. According to the Association for Advancing Automation, orders for robots climbed by 40% in the first quarter of 2022 and by 21% overall in 2021.
Increased Government Funding and Initiatives to Support the Global Robotic Sensors Market’s Expansion
- India is seeing a rise in the use of robotics in both the public and private sectors. The research conducted by the Ministry of Defense laboratories and the Indian government’s concern with technology is thought to be the primary drivers of the surge in the popularity of robots. It has influenced new businesses, educational institutions like T-schools, and the manufacturing sector, particularly the automotive and assembly industries.
- The Key Special Program on Intelligent Robots in 2020 received financing from the Chinese government totaling USD 10.2 million
- Under Horizon Europe, the European Commission is anticipated to contribute a total of USD 240 million toward the robotics-related work program 2021–2022.
- Since 2017, the UK has invested more than USD 156.32 million in the “Robotics for a Safer World” program.
Key Topics Covered in the Report: –
- Snapshot of Robotic Sensors Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of Robotic sensors Market
- Historic Growth of Overall Robotic sensors Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of Robotic sensors Market Industry
- Overview, Product Offerings, and Strength & Weakness of Key Competitors
- COVID 19 Impact on the Overall Robotic sensors Market
- Future Market Forecast and Growth Rates of the Total Robotic sensors Market and by Segments
- Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
- Analysis of Robotic sensors Market in Global Regions
- Major Production/Supply and Consumption/Demand Hubs in the Region
- Region-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within the Region
Major Companies Mentioned in the Report: –
- ATI Industrial automation
- Balluf GmbH
- Baumer Group
- FUTEK Advanced sensor technology
- Cognex Corporation
- IFM electronic
- Infineon technologies
- TE Connectivity
Notable Emerging Companies Mentioned in the Report
- TE Connectivity
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Robotics Sensor Manufacturers
- Robotic Sensors Type Assemblers
- Robotic sensors Type Suppliers
- Raw Material Suppliers for Robotics sensor
- Potential Investors in Robotic sensors Companies
- Value Added Resellers
- Industrial OEMs of Robotics sensor
- Industrial Automation Solutions Providers
- Robotics Industry Associations
- Robotics Research Groups
Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
For More Information on The Research Report, Refer to Below Link: –
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Ankur Gupta, Head Marketing & Communications