Robotics Market Demands $510 Million Worth Of Sensors Now

According to BCC Research, the global market for sensors used in robotics currently exceeds $510 Million dollars. The firm projects that figure will continue to grow at a 12.6% CAGR. The research combines two rapidly developing market categories: robotics and sensors. According to BCC Research, robotics have been a commercial venture dominated by industrial automation in the manufacturing sector. The use of such systems in the government, especially the military, and healthcare are also well developed, but the consumer market is quickly becoming equally important. From drones to telepresence, automated cleaning to toys, there are a wide variety of applications that require low cost sensors.

 

Research findings include:

  • Market to grow to $510 million in 2017 and $840 million in 2022, at a CAGR of 10.5%.
  • Europe will lead that market growth with a 12.6% CAGR.
  • Industry will continue to be dominated by commercial applications at more than 80% share led by industrial applications, followed by healthcare and automotive segments. 
  • Consumer markets will outpace growth rates in other markets citing a 12.6% CAGR, to attain $20 million by 2022.
  • Total number of robotic appliances is increasing while the cost of sensors is decreasing, creating a robust market for sensors for robotics at a lower revenue per sensor. 

For more details, contact BCC Research LLC, , Wellesley, MA. 866-285-7215.

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