The already-robust $350M sensors for drones and robots market will double by 2021, reaching $709M at a 12.4% CAGR from 2015 – 2021.
THE FORTHCOMING ROBOTICS REVOLUTION WILL COVER THE ENTIRE MARKET SPECTRUM
Driven by a full applications range, the sensors for drones and robots market is expected to grow at a CAGR of 12.4% from 2015 - 2021, reaching a total revenue of US$709M by 2021.
This is Yole Développement’s first report concerning sensors for robots and drones. We’ve witnessed the emerging vitality of the drones and robots markets and their reliance on key sensor technologies like MEMS and imaging sensors. Already-developed technologies for currently maturing markets like mobile and automotive are being brought by innovators into the emerging drones and robots space. As new applications are created, the need for enhanced sensor technology takes its place in the virtuous circle.
Currently, the two largest markets for drones and robots are defense and industrial, both of which owe much to the global policy of the US and China. In the recent years the eastern Pacific Ocean side has seen massive investment in robotic warfare while the western Pacific has made a similar-sized push towards robotic manufacturing. On a global scale, the US is also bolstering its industrial activity by using robotics, while China is boosting its military through the latest robotics technology.
Through our research, we’ve identified at least 10 new applications for which drones and robots will generate more than $1B in revenue per year. As numerous new applications covering the full market spectrum emerge, including consumer drones, autonomous vehicles, hospitality robots, exoskeletons, and telepresence, the drones and robots markets will become less military and manufacturing-oriented. These new applications, which will all enjoy a compound growth rate of 40% and above over the next five years, are detailed in our report.
For each market, a huge diversity of robots and applications are being explored by numerous emerging players. This is a complexity inherent to early-stage markets, where a diversity of competing technologies can coexist. Our report provides a structured vision of this complex ecosystem, which some are calling the “Cambrian explosion”1 of robotics.
More information on that report at http://www.i-micronews.com/reports.html