December 11, 2018
WELLESLEY, Mass., Dec.11, 2018–Product innovation and central planning by the European Commission are factors helping to boost the robotic sensors market, according to a report by BCC Research.
The industry expects to see a compound annual growth rate (CAGR) of 12.0% through 2023, when it is expected to reach nearly $222.9 million, according to the report “Sensors for Robotics: Technologies and European Markets.”
Major players in the market include Accel, Autoliv (ALV), Balluff, Canatu Oy, City Technology, Delphi Automotive, Elmos Semiconductor (ELG), Fingerprint Cards (FING-B), Hans Turck, Idex (IEX), Jumo, Keyence (KYCCF), LTI Holding, Meggitt (MEGGF), Next Biometrics, Omron Scientific Technologies and Philips Photonics.
“Sensors for robotics in Europe is becoming an increasingly important area as robotics becomes more ubiquitous in small-and large-scale applications ranging from domestic appliances to self-driving cars,” the report notes. “Robotics on the factory floor, in the supply chain and even on the farm are undergoing significant innovation with the aid of sensors.”
R&D Costs, Import Tariffs Top List of Market Restraints
While the market is strong, several factors offer points of concern, the report adds. Among these, the primary concern is the high research and development costs associated with incorporating sensors. Complete robotics manufacturing requires expensive machinery as well as extensive technological research and development. An increase in tariffs, meanwhile, is affecting products used by the industry, including metals and electronics. A rise in trade barriers could lead to a significant drop in export numbers.
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Sensors for Robotics: Technologies and European Markets( IAS142A )
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