Global Robotics Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
Global Robotics Market Overview:
“The global Robotics Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Robotics is a branch of engineering which involves design, conception, manufacture, and operation of robots. Robots are used for various activities such as assembling products, space missions, detecting and defusing bombs, product inspection, surgical operations, and cleaning and household activities. Robotics technology is widely used in various industries such as electronics, healthcare, artificial intelligence, defense, mechatronics, aerospace, nanotechnology, and automotive and infrastructure.
Increasing demand for automation especially, in automotive industry and technological advancements such as modular robotics, cloud- and nano-robotics are major factors expected to drive growth of the global market over the forecast period.
In addition, increasing concerns regarding the labor safety and rising adoption of robotics in various organizations to automate processes for delivering high-quality products, increasing manufacturing capabilities, and managing processes, are other factors expected to further fuel growth of the target market. Furthermore, rising adoption of smartphones and tablets is expected to support growth of this market in the near future.
Moreover, rising investments by defense sector to develop innovative military drones for surveillance, bombing, and image capturing application are expected to propel growth of the global market over the forecast period.
However, high initial investment and maintenance costs are major factors expected to restrain growth of the global robotics market over the forecast period.
Ongoing trend observed in the target market is increasing adoption of robots, owing to technological advancements in industrial and service robotics.
Technological advancements to develop cost-effective, compact, and energy efficient robotics solutions are expected to create lucrative opportunities for manufacturers operating in the target market.
The market in North America dominates the target market in terms of revenue, over the forecast period, owing to rising adoption of robotics technology majorly in various sectors such as defense, security, and healthcare in various countries in the region.
The market in Asia Pacific is expected to register significant growth in terms of revenue over the forecast period, owing to increasing need of automation in various sectors and labor safety concerns in various countries in the region.
Global robotics market segmentation:
Segmentation by type:
- Industrial robots
- Service robots
- Mobile robots
Segmentation by application:
Segmentation by component:
- Control Units
- Brake Systems
- Vision Systems
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- iRobot Corporation
- Boston Dynamics Inc.
- Touch Bionics Limited
- Northrop Grumman Corporation
- Rethink Robotics, Inc.
- Accuray Incorporated
- Liquid Robotics Inc.
- QBotix Inc.
- Prox Dynamics AS
- Robert Bosch GmbH
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