The global multi-axis sensor market is expected to grow by 25.7% CAGR during 2024-2031 to growth technology advancement and innovation and the emerging applications are robotics and autonomous systems, virtual reality and augmented reality, industrial automation, Internet of things, healthcare, and the automotive industry. The need of the industry in automotive industry and the growing installation, and adoption of (MEMS) micro-electromechanical system accelerometers in high-end applications.
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Technology advancement plays a crucial role in it by adding features to the robotic industry and automation industry by adding sensors and various work 2 in 1 work completed at a time. The market for multi-axis sensors has grown significantly in military and defense technologies because they provide improved situational awareness, precise navigation, and accurate targeting. Multi-axis load cells allow for the exact measurement of forces in numerous directions at once. Multi-axis load cells generate richer and more extensive data for analysis. The data is useful in determining a design's structural integrity, load distribution, and performance characteristics.
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Multi-Axis Sensor Market Key Trends
- Technological advancements in the market and product innovation are driving the growth of the global multi-axis sensor market. For instance, in February 2024, ATI Industrial Automation announced that their Multi-Axis Force/Torque Sensors can work with FANUC robots and Force Control Software. ATI's famous Multi-Axis F/T Sensors give precise measurements of forces and torques in several dimensions, giving robots a feeling of touch and the capacity to complete complex tasks with accuracy. These sensors, designed to endure tough industrial conditions, provide dependable functioning in a wide range of applications. Whether in research, medical applications, or industrial operations, ATI force sensing technology is transforming the way robots interact with their surroundings.
- Brands are launching new products to compete in the market and providing different technology to support customer demand is also driving the market growth. For instance, in September 2023, Leuze announced its new 2-in-1 sensor that detects the presence of objects while at the same time transmitting measurement values. With the new compact ODT3CL1-2M laser diffuse sensor, Leuze is extending the operating range of their 3C series distance sensors.
Due to the high demand from the Multi-Axis Sensor Industry, there are various players in the market driving innovation through different strategies, mergers and acquisitions, and collaboration, among others. Key market players in the global multi-axis sensor market are Honeywell International, L3 Communications, Parker Hannifin, Trimble Navigation, STMicroelectronics, and Interface Inc., among others.
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