The $350 million annual market for sensors for drones and robots in 2015 is set to double by 2021, reaching $709 million. This is equivalent to a 12.4 percent compound annual growth rate.
Key technologies will include 3D cameras, solid-state LIDAR and precision gyroscopy all navigation and collision avoidance.
The two largest markets for drones and robots are the defense and industrial markets, both of which owe much to the global policy of the United States and China.
"Through our research, we’ve identified at least ten new applications for which drones and robots that will generate more than $1 billion in revenue per year," said Pierre Cambou from Yole. These applications include consumer drones, autonomous vehicles, hospitality robots and exoskeletons, and are set to reduce the significance of defense and industrial markets.
These new equipment markets will enjoy CAGRs in excess of 40 percent, said Yole.
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