The Robotic Vehicle Sensor Market is expected to grow from US$336.900 million in 2025 to US$1,085.599 million in 2030, at a CAGR of 26.37%.
The increasing use of different sensors in automobiles to make them autonomous is driving the demand for robotic vehicle sensors. The robotic vehicle sensor market is expanding as more sensors, including radar, LiDAR, cameras, and others, are being used in autonomous vehicles. According to the India Brand Equity Foundation, the worldwide EV market is anticipated to reach US$1,318 billion in 2028, up from an estimated US$250 billion in 2021. This growth in the electronic vehicle market will boost the demand for robotic vehicle sensors.
Various favorable government initiatives are a significant growth factor. For instance, NIST is supporting an expanded second-year SERI-funded NIST Automated Vehicle (AV) Programme to address system performance and measurement methods for AV sensors/perception, Artificial Intelligence (AI), cybersecurity, and AV communications; as well as to design and establish a system interaction testbed, which will be used to evaluate system interactions. This program builds on a successful first-year SERI project NIST and Autonomous Vehicles.
According to the report published by the Ministry of Electronics and Information Technology, China invested $43.5 million in 2022, owing to the 14th 5-Year Strategy Plan 2021 which aims to boost innovation capacity, provide the groundwork for industrial growth, boost the availability of high-end goods, raise the depth and breadth of applications, and optimize the overall structure of the robotics sector. The United States of America invested $15.7 million in the robotics industry. The National Robotics Initiative (NRI) 3.0 seeks to sponsor foundational research that will enhance the field of robot integration in the United States.
China is a leading manufacturer of manufacturing robots and sensors due to its stronghold over consumer electronics and easy availability of raw materials for manufacturing robot vehicle sensors. The country has a significant manufacturing base for sensor production for various end-uses such as for defense, aerospace, and manufacturing, among others. The increasing production of robotics can also be considered as one of the reasons contributing to the robotic vehicle sensor market growth. For instance, according to the World Robotics Report, in 2022 China overtakes the USA in robot density. China surpassed the United States in 2021, China had a robot density in the manufacturing sector of 322 robots per 10,000 employees in 2021 whereas the United robot density for the manufacturing segment was 274 robots per 10,000 employees in 2021. Hence, the production of robots and sensors in the country is aiding the robotic vehicle sensor market to grow in the projected period.
Different segments covered under the robotic vehicle sensor market report are as below: