March 31, 2020
According to the research report titled ‘Asia Pacific Robot Sensor Market Size By Product, Robot Type, Application - Industry Size, Share, Growth Trends & Forecast, 2018 – 2024’, available with Market Study Report LLC, Asia-Pacific robot sensor market is slated to cross USD 1.5 billion by the year 2024.
Growing demand for industrial robots and advancements in sensor technology are major factors driving the growth of Asia-Pacific robot sensor industry. Manufacturers are focusing on equipping their machinery and equipment with sensor technology in order to minimize operational costs. Rising adoption of robots for various industrial applications including painting, welding, drag & drop, and machine tending is further aiding the market expansion.
The report states that the demand for robot sensors in automotive sector is expected to surge in the forthcoming years, primarily due to increasing utilization of robotics in production lines. Robotic hands perform various processes such as assembly of equipment in order to increase production efficiency and speed. Moreover, integration of sensor technology in automotive manufacturing reduces labor cost as well as improves operational safety.
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As per the regional analysis, robot sensor markets in Korea and China are predicted to expand substantially through 2024. Favorable government initiatives which promote the use of advanced robotics technology in telecom, medical, agriculture, and pharmaceutical industries is favoring the market outlook in China.
Panasonic, Omron, Epson Robot, and ABB Group are some of the prominent companies operating in APAC robot sensor market.
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