Robotics Market Update - Rising Cash Flows is King
The global industrial robotics market is likely to surpass US$ 24 Billion mark by 2025. The demand for industrial robotics is anticipated to grow exponentially during the forecasting period driven by advantages such as cost reduction, improved quality, increased production, and improved workplace health and safety. The adoption of automation to ensure quality production and meet market demand, and the growing demand from small- and medium-scale enterprises in developing countries is fueling the growth of industrial robotics market globally.
Industrial Robotics Market - Segment Analysis
On the basis of segment, the automotive industry accounted for highest share of the industrial robotics market. Around 32% of all industrial robot installations take place in the automotive industry.
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The global service robotics market was valued at over US$ 17 Billion in 2019 and is expected to show significant growth during the forecast period, driven by an upsurge in its adoption owing to high labor cost, lack of skilled workforce, increasing research and development investments, growing awareness regarding the benefits of service robots, and increased demand for automation among professional and personal sectors. Service robots have witnessed widespread acceptance among various professional and personal applications owing to benefits such as enhanced usability, delivery of accurate and high-quality services, reliability, and reduced operational costs and human errors. Professional service robots are employed in various industries including medical, defense, agriculture, logistics, inspection and maintenance, rescue and security, construction, and professional cleaning among others, whereas personal service robots are used for domestic and entertainment and leisure purpose. The high initial investment and concern for human safety restricts the growth of the market.
Global Professional Service Robotics Market and Volume Forecast - By Segment
The logistic applications accounted for maximum share of the global professional service robotics market. The use of service robots in logistic industry is anticipated to show substantial growth. The growing e-commerce industry is the primary growth driver for this market. In 2019, medical application was the second major industry vertical, in terms of market share. Medical application employs service robots for a wide range of applications such as surgery, diagnostics, physical and mental therapy, and prosthetics among others. Defence robotics captured third highest share of the professional service robotics market in 2019, followed by Agriculture robots or Agribots. The implementation of robotics in agriculture is expected to bring out transformational result in coming years.
In volume terms, the logistic robots accounted for maximum share of the overall professional service robotics volume. Inspection and maintenance robots captured second highest share of the professional service robots sales volume in 2019. The medical robots accounted for merely 2% share of the professional service robotics volume in 2019, due to expensive nature of these devices.
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Global Service Robotics Market and Volume Forecast - By Type : Professional Service Robotics, Personal and Domestic Service Robotics
Global Professional Service Robotics Market and Volume Forecast - By Segment: Defence, Agriculture/Field, ,Logistic, Medical, Exoskeletons, Public Relations Robots, Construction, Mobile Platforms, Inspection and Maintenance, Underwater, Rescue and Security, Cleaning, Others
Global Robotics Market - Key Players Sales and SWOT Analysis : KUKA AG, Adept Technology (Acquired by OMRON), iRobot Corporation, Intuitive Surgical, Nachi-Fujikoshi, Yaskawa Electric Corporation
Important Features that are under offering & key highlights of the report:
– Detailed overview of Robotics market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Robotics market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
– A neutral perspective towards Robotics market performance
– Market players information to sustain and enhance their footprint
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Major Highlights of TOC:
Chapter One: Global Robotics Market Industry Overview
1.1 Robotics Industry
1.1.2 Products of Major Companies
1.2 Robotics Market Segment
1.2.1 Industry Chain
1.2.2 Consumer Distribution
1.3 Price & Cost Overview
Chapter Two: Global Robotics Market Demand
2.1 Segment Overview
2.1.1 APPLICATION 1
2.1.2 APPLICATION 2
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Key questions answered
• Who are the Leading key players and what are their Key Business plans in the Global Robotics market?
• What are the key concerns of the five forces analysis of the Global Robotics market?
• What are different prospects and threats faced by the dealers in the Global Robotics market?
• What are the strengths and weaknesses of the key vendors?
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