March 31, 2020
According to the research report titled ‘Europe Robot Sensor Market Size By Product, Robot Type, Application – Industry Report, Growth Analysis & Forecast, 2018 – 2024’, available with Market Study Report LLC, Europe robot sensor market is expected to exceed USD 1.2 billion by the year 2024.
Increasing utilization of industrial robots in Germany automotive industry is a major factor fostering the demand for robot sensors in Europe. Growing preference for low-cost and high precision manufacturing has enhanced the incorporation for robots in the automotive industry. Increasing application of robotics across industries for performing complex tasks, improving production rate, and simplifying operational processes is further aiding the market expansion.
Extensive integration of Industry 4.0 owing to advancements in robotics technology has amplified the growth of robot manufacturing companies, which in turn is stimulating the industry outlook. Rising safety concerns is also augmenting the adoption of robot sensors. Machines equipped with robot sensors can conduct complex tasks, such as material handling, unloading or loading of heavy equipment, and placing the components on pallets, with ease and precision.
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Advancements in semiconductor field have helped in reducing the overall cost of robots, which in turn is promoting the business scenario in Europe. Decline in price of various sensors such as force-torque sensor and vision sensor is also favoring the market outlook.
The prominent companies operating in Europe robot sensor industry are Balluff AG, ams AG, Baumer and ifm electronic GmbH among others.
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