The global robotics market is expected to grow significantly during the forecast period owing to increased industrial automation adoption, reduction in the cost of labor, and growing demand for the consumer goods for precise and scalable products. The market is segmented on the basis of the type of robot, mobility, and consumers. The segmentation covers a different type of robots used in the different industrial application as well as commercial applications. The robots are also classified on the basis of its ability of movement. The robotics market also covers the consumers; medical, entertainment, field, logistics, defense, public safety, manufacturing, and many others. On the basis of region, Europe leads the market by a huge margin due to the presence of leading automotive, aerospace, and other manufacturing industries. Robotics is a combination of engineering and technology, which generally includes mechanical engineering, electronics & electrical engineering, computer science, and other engineering domains.
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Major Key players:
Some of the key players in the global robotics market: ABB Ltd. (Switzerland), KUKA AG (Netherlands), Mitsubishi Electric Corp (Japan), Nachi- Fujikoshi Corp (Japan), Fanuc Corp (Japan), Kawasaki Heavy Industries (Japan), Yaskawa Electric Corp. (Japan), Northrop Grumman Corporation (U.S.), IRobot Corporation (U.S.), DJI (China), Intuitive Surgical, Inc. (U.S.), Parrot SA (France), Honda Motor Co.Ltd (Japan), Adept Technology, Inc. (U.S.), Aethon Inc. (U.S.) among others.
The regional analysis of Robotics Market covers North America, Europe, Asia Pacific, and rest of the world. Europe is the current frontrunner in the adoption of automation and usage of robots for industrial applications. Increased adoption of automation by traditional manufacturing groups as well as small and medium-sized enterprises. The countries in the European Union tend to be more advanced towards the industrial automation and expect a significant growth in the sale and implementation of robots.
Asia Pacific is expected to witness the fastest growth during the forecast period. The region includes emerging countries like China, Japan, South Korea, Taiwan, Australia, and India, which are on the path of technological and industrial development. Also, Asia Pacific holds world’s largest semiconductor and consumer electronics industry, receiving the continuous demand for precise and quality product. China leads the segment of consumer electronics, followed by South Korea and Japan, which shows a huge adoption of robotics as the primary assembly application. Another major factor that increases the growth of robotics is the implementation of manufacturing units in countries like India and China.
North America is, however, growing at a steady pace in the robotics market. North America includes countries like the U.S and Canada, which are technologically advanced and holds many manufacturing plants. However, due to the expensive labor, companies are shifting their primary manufacturing plants to Asia, Latin America, and the Middle East, where the labor is cheaper.
LIST OF TABLES
TABLE 1 ROBOTICS MARKET, BY TYPE
TABLE 2 ROBOTICS MARKET, BY MOBILITY
TABLE 3 ROBOTICS MARKET, BY CONSUMER
TABLE 4 ROBOTICS MARKET, BY REGION
TABLE 5 NORTH AMERICA ROBOTICS MARKET, BY TYPE
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LIST OF FIGURES
FIGURE 1 RESEARCH ROBOTICS
FIGURE 2 ROBOTICS MARKET, BY TYPE (%)
FIGURE 3 ROBOTICS MARKET, BY MOBILITY (%)
FIGURE 4 ROBOTICS MARKET, BY CONSUMER (%)
FIGURE 5 ROBOTICS MARKET, BY REGION (%)
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