Jan 31 2020
As per the report published by Fior Markets, the global robotics market is expected to grow from USD 37.81 Billion in 2017 to USD 158.21 Billion by 2025 at a CAGR of 19.11% during the forecast period 2018-2025.
Adoption of robots across a wide range of industries including defense & security, manufacturing, automotive, healthcare & electronics, requirement of skilled workforce, introduction of industry 4.0 driving automation, increasing safety concerns across industries, higher demand from the oil & gas industries and provides better quality products and services are the factors driving the robotics market.
Robots play a vital role in industrial automation performing various operations in industries from production to services. The growing IoT penetration and investments in robotics has increased the global robotics market. Also, the demand for automation in industries has changed the prospect towards the robotics as they help in reducing labor costs as well as enables to have better quality products and services. The robotics are extensively used in performing sensitive detecting and defusing bombs and surgical operations that are dangerous and unsafe for humans in defense applications. These robotics can be controlled through smartphones providing ease to handling capability. For instance, in 2018, Futura Automation LLC launched an AI-powered social robot. This robot is developed with machine learning and deep learning technology and is available in a customizable face, voice, and personality. The growing preferences for the virtual commissioning method than on-site commissioning have helped in a reduction in time and costs.
Robotics reduces labor cost and need of skilled workforce, introduction of industry 4.0 driving automation, increasing safety concerns across industries, efficient and provides better quality products and services, and higher demand from the oil & gas industries are the key driving factors for the robotics market. In addition, adoption of robots across a wide range of industries including defense & security, manufacturing, automotive, healthcare, and electronics will supplement the growth of robotics market in upcoming of years. However, high installation & maintenance cost and high initial investment may limit the growth of market. The adoption of robotics to automate the processes, increased implementations in various industries, and improvements in robotic system integration services is expected to boost the robotics market over the forecast period.
Key players operating in the global robotics market include ABB Ltd, Yaskawa Electric Corporation, Denso Corporation, Bossa Nova Robotics, Savioke, Fetch Robotics, Aetheon Inc., Locus Robotics, Omron Adept Technologies, Barrette Technology LLC, Swisslog, John Deere, iRobot Corporation, Fanuc Corporation, Honda Motor Co. Ltd., Boeing, Seegrid Corporation, Google Inc., Lowe’s, Fanuc Corporation, Northrop Grumman Corporation, Amazon, Clearpath Robotics Inc., Kuka AG, and among others. The ABB Ltd, Fanuc Corporation, iRobot Corporation, Midea Group, Northrop Grumman Corporation, and Yaskawa Electric Corporation are the top leading players of the market.
- Extensive product portfolio and expansion strategies by major players are contributing for the growth of the sector. For instance, in 2017 ABB collaborated with Kawasaki and declared robot automation cooperation that will focus on ‘cobots’. The companies also focus on the creation of common industry approaches for safety, programming, and communications.
Industrial robots segment dominate the global robotics market with the largest share of 38.37% in 2017
Robotic type segment industrial robots, service robots, and mobile robots. The industrial robots further includes articulated, cartesian, SCARA, parallel, and collaborative robots. The service robots is segmented into personal robots, professional robots, and domestic robots. The mobile robots is categorized into unmanned aerial vehicles (UAVs), unmanned ground vehicles (UGVs), unmanned surface vehicles (USVs), and autonomous underwater vehicles (AUVs). The industrial robots segment dominate the global robotics market with the largest share of 38.37% in 2017 due to increasing Investments for automation in industries. In addition, rising demand for automation in industries and increasing demand from small & medium enterprises in developing countries has increased the market size of the industrial robots in the global robotics market.
Static robotics segment held the largest share of 39.56% in 2017
The structure segment covers mobile, exoskeleton, and static. The static robotics segment held the largest share of 39.56% in 2017 due to increasing deployment of robotics in aerospace, manufacturing, and automotive industries. The static robotics are balanced on center of gravity and uses static movements as well as are easier to control.
Sensors segment dominated the global robotics market with USD 11.03 billion in 2017
The component segment is divided into sensors, brake systems, vision systems, control units, actuators, and others. Sensors segment dominated the global robotics market with USD 11.03 billion in 2017 due to an increasing demand for enhanced sensing features with robots. The sensors enables the robotics users to control its behavior more effectively and can also provide information about the surroundings to its user.
Military & defense segment is anticipated to grow with highest market share of 27.20% over the forecast period
The application segment is categorized into logistics, military & defense, medical & healthcare, automotive, food & beverage, electronics, and other. Military & defense segment is anticipated to grow with highest market share of 27.20% over the forecast period owing to wide application in defense departments across the world.
Browse full report with TOC at https://www.fiormarkets.com/report/global-robotics-market-by-robotic-type-industrial-robots-376027.html
Regional Segment Analysis of the Robotics Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America region held the largest market share of approximately 37.76% in 2017 where as the Asia Pacific region held the second dominant position in the global robotics market. Increasing safety concern in industries, presence of major players, and demand and adoption of robotic technologies are some of the factors that led to the growth of Robotics market in North America region. In Asia Pacific is fastest growing region due to the increasing demand for industrial robots, adoption of robotics from small and medium size enterprises in various countries including China, Japan, India, and South Korea, rapid industrialization are creating opportunity for the growth of the market.
About the report:
The global robotics market is analysed on the basis of value (USD Billion), volume (K Units), consumption (K Units), imports (K Units) and exports (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.