Robotic Vehicle Sensor Market Size, Share, Opportunities, And Trends By Type (Radar, LiDAR, Camera, Ultrasonic Sensors, Others), By Level of Automation (L1/L2, L3, L4/L5), And By Geography - Forecasts From 2023 To 2028
- Published : Nov 2023
- Report Code : KSI061612940
- Pages : 122
The robotic vehicle sensor market is evaluated at US$291.295 million for the year 2021, growing at a CAGR of 40.02%, to reach the market size of US$3,073.720 million by the year 2028.
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. The Government of India and the Indian automobile industry together launched the Automobile Mission Plan 2016–26 to set the course for the sector's growth.
Growth in government initiatives
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.
Investments in the robotics industry
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.
Government investments
- in November 2022, the successful Hybrid Area Reconnaissance and Survey (HARS) field trial served as a model for this innovative study's theoretical framework. The technology idea might boost productivity, keep troops safe, and provide the UK armed services with a tactical advantage in the future. The Defense Science and Technology Laboratory (Dstl), the Ministry of Defense (MOD) as a whole, and businesses are working together on the HARS Trials project.
- Moreover, in April 2021, the Federal Communications Commission opened the door for the development of new in-car radar technology that will search for young children left in hot, unsafe vehicles and send out signals that might save lives. Six petitions for waivers from automakers and equipment manufacturers to provide and operate these in-cabin radars in the 60 GHz frequency range were approved by the FCC's Office of Engineering and Technology.
China is projected to be the fastest-growing market in the Asia-Pacific region
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.
Market Key Developments
- In June 2023, the safeVisionary2 from SICK AG, the first 3D time-of-flight (ToF) camera with Performance Level c (PL c) was made available for purchase. It was designed to offer 3D localization and object identification in addition to helping users become independent. It offers exact 3D measurement data that enables autonomous and intelligent mobile robot navigation, making it particularly beneficial for usage with autonomous mobile robots.
- In April 2023, the high-performance inertial measuring unit (IMU)330RA was made available, according to ACEINNA. The brand-new IMU330RA from ACEINNA is a high-performance, easy-to-integrate 6-DOF inertial sensor housed in a tough, sealed over-molded plastic chassis that complies with IP69K standards. The IMU330RA is a vehicle-grade, ASIL B-certified device that forms the cornerstone of the integration of the customer positioning system to ASIL D.
Robotic Vehicle Sensor Market Scope:
Report Metric | Details |
Market Size Value in 2021 | US$291.295 million |
Market Size Value in 2028 | US$3,073.715 million |
Growth Rate | CAGR of 40.02% from 2021 to 2028 |
Base Year | 2021 |
Forecast Period | 2023 – 2028 |
Forecast Unit (Value) | USD Million |
Segments Covered | Type, Level of Automation, and Geography |
Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
Companies Covered | OSRAM Opto Semiconductors GmbH, Ouster, Inc., Velodyne Lidar, LeddarTech Inc., Continental AG, Valeo, Innoviz Technologies, LTD., Benewake (Beijing) Co., Ltd. |
Customization Scope | Free report customization with purchase |
Different segments covered under the robotic vehicle sensor market report are as below:
- By Type
- Radar
- LiDAR
- Camera
- Ultrasonic Sensors
- Others
- By Level of Automation
- L1/L2
- L3
- L4/L5
- By Geography
- Americas
- USA
- Others
- Europe Middle East and Africa
- Germany
- United Kingdom
- Others
- Asia Pacific
- China
- Japan
- South Korea
- Taiwan
- Others
- Americas
Frequently Asked Questions (FAQs)
Robotic Vehicle Sensor Market was valued at US$291.295 million in 2021.
The robotic vehicle sensor market is projected to reach a total market size of US$3,073.720 million by 2028.
The global robotic vehicle sensor market is projected to expand at a CAGR of 40.02% over the forecast period.
The increasing use of different sensors in automobiles to make them autonomous is driving the demand for robotic vehicle sensors.
Asia Pacific accounted for significant shares of the robotic vehicle sensor market.
1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.5. Currency
1.6. Assumptions
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. ROBOTIC VEHICLE SENSOR MARKET, BY TYPE
5.1. Introduction
5.2. Radar
5.3. LiDAR
5.4. Camera
5.5. Ultrasonic Sensors
5.6. Others
6. ROBOTIC VEHICLE SENSOR MARKET, BY LEVEL OF AUTOMATION
6.1. Introduction
6.2. L1/L2
6.3. L3
6.4. L4/L5
7. ROBOTIC VEHICLE SENSOR MARKET, BY GEOGRAPHY
7.1. Introduction
7.2. Americas
7.2.1. USA
7.2.2. Others
7.3. Europe Middle East And Africa
7.3.1. Germany
7.3.2. United Kingdom
7.3.3. Others
7.4. Asia Pacific
7.4.1. China
7.4.2. Japan
7.4.3. South Korea
7.4.4. Taiwan
7.4.5. Others
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. OSRAM Opto Semiconductors GmbH
9.2. Ouster, Inc.
9.3. Velodyne Lidar
9.4. LeddarTech Inc.
9.5. Continental AG
9.6. Valeo
9.7. Innoviz Technologies, LTD.
9.8. Benewake (Beijing) Co., Ltd.
OSRAM Opto Semiconductors GmbH
Ouster, Inc.
Velodyne Lidar
Continental AG
Valeo
Innoviz Technologies, LTD.
Benewake (Beijing) Co., Ltd.
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