Europe Robot Sensor Market size surpassed USD 520 million in 2021 and is projected to exhibit a CAGR of 9% from 2022 to 2028. The increasing adoption of automation technologies in a wide range of sectors has accelerate the market growth. The region is one of the world leaders in automation technologies due to the maximum implementation of robotics systems.
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Due to various factors, such as rising labor cost and growing safety concerns, several manufacturing units use robotics systems. Some of the popular implementations of robot sensors can be seen in sectors, such as food & beverage, logistics, and manufacturing. Technological advancements are one of the major reasons that have fostered the market share. Sensor manufacturing companies in this region are constantly coming up with new technologies to offer better solutions.
COVID-19 impact on market expansion:
The COVID-19 pandemic had a favorable effect on the progress of Europe robot sensor industry because the production of industrial robots saw a noticeable increase during this period. These robots were used on a large scale across several sectors since they considerably reduced physical contact between companies and their staff. This helped organizations decrease the chances of their employees contracting the deadly infection.
Europe Market, By Product
The ultrasonic sensor segment will reach USD 110 million revenue by 2028. Humanoid robots are gaining significant traction across factories because they are equipped with ultrasonic sensors. These sensors enable them to ‘see’ their surroundings. Ultrasonic sensors also allow robots to identify objects even in extreme weather conditions as they are not affected by dirt, dust, and moisture. Many organizations are launching upgraded versions of these products to enhance their capabilities.
Europe Market, By Robot Type
The collaborative robot segment will capture a sizeable share of the regional market by 2028, because they partner with their human counterparts to achieve common goals set across manufacturing plants. Collaborative robots or cobots, are being widely used in a variety of industries, including healthcare. Medical professionals can conduct diagnostic tests on a large scale as cobots make the job much easier and faster for them.
These robots also helped hospitals combat the COVID-19 pandemic since they complied with the social distancing norms by minimizing physical contact between patients and doctors. The machine has a robotic arm that can take mouth swabs and listen to sounds from a patient’s organs. They would collaborate with the medical personnel to carry out various COVID-related tests.
Europe Market, By Application
The Europe market size from manufacturing applications will record an impressive growth rate during the forecast timeline. Robot sensors are useful in many manufacturing machines and assembly lines on the factory floor since they can easily identify deviations in the final product from the pre-set parameters during production.
Europe Market, By Country
Germany robot sensor market size will increase exponentially through 2028, impacted by the rising use of advanced technologies in several industries across the country. Germany is considered one of the leaders in robotic technologies. It also has a robust presence of companies that specialize in the development of robotics solutions, further bolstering the industry growth.
Competitive Industry Landscape
Major players involved in the market are offering different types of sensors for robotics. These include Baumer, Robert Bosch GmbH, STMicroelectronics N.V, ifm electronic GmbH, SICK AG, and Balluff AG.
The companies are signing merger & acquisition agreements to establish their footprint in the region. Huge investments are made by these industry participants in research & development to introduce new technologies, boosting the development of Europe robot sensor industry. For example, Estonia-based Starship Technologies raised EUR 50 million (USD 52.9 million) from the European Investment Bank (EIB). The funds will be used to conduct R&D activities, such as building several robots at Starship’s innovation & engineering facility based in Tallinn.