The Robotic Sensors Market size is estimated at USD 615.37 million in 2023, and is expected to reach USD 932.16 million by 2028, growing at a CAGR of 8.66% during the forecast period (2023-2028).
The market studied is anticipated to grow due to the adoption of Industry 4.0 and IIoT solutions across the various end-user industries. Also, government investments in research and development and a growing emphasis on sustainability further drive the demand of the market studied. In addition, various players in the examined market are focusing on high-growth sectors such as automotive and manufacturing to keep their business growing in the market studied.
The robotic sensors market is fragmented and consists of several global as well as regional players, including Honeywell International Inc., FUTEK Advanced Sensor Technology Inc., FANUC Corporation, Baumer Group, and ATI Industrial Automation (Novanta Inc.). These players with a competitive share in the market are focusing on expanding their customer base across global regions. These companies are leveraging strategic collaborative initiatives to increase their market share and regional presence.
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