Global Robotics Market is expected to grow significantly in the forecast period owing to the growing focus on enhancement of productivity especially in automobile and electronic devices segments. Robotics is an engineering field that comprises inception, manufacture, design, and robots operation. This branch is similar to electronics, artificial intelligence, computer science, nanotechnology, mechatronics and bioengineering.
Robotics has greatly revolutionized with numerous technological advances, one of which is the growth of big data that provides plenty of opportunities to build programming ability in robotic systems. Another major technological advancement is the use of new connected devices and sensors to monitor environmental factors like air pressure, light, temperature, motion, etc. Robotics are mostly used in industries like military, food preparation, agriculture, healthcare, automobile, and manufacturing.
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Robots are extensively used for multiple activities including detecting & defusing bombs, assembling products, space missions, cleaning & household chores and product inspection. Expansive rise in the number of devices like smartphones and tablets demand the need for robotics, which contribute to the growth of robotics market. The growth of robotics will also stimulate employment in various parts of the world especially in the emerging economics across world.
Increasing demand for automation in industries has augmented the adoption of robotics technology in the automotive segment. Innovations and technologies like nano-robotics, cloud robotics, and modular robotics are predicted to drive robotics market significantly. The leading market players are focusing to offer affordable, compact and energy-efficient solutions to target a wider customer base.
However, high initial investment for installing this robotics is a key restraint for robotics market. Moreover, robots are normally positioned for labor-intensive jobs that comprise numerous wear & tear which leads to high maintenance cost. Along with this, significant procurement cost also greatly challenge the market growth. Besides, the challenge faced for converting an architype into a commercial robot is hampering the robotics market. In addition, the strenuous job of commercialization of the product leads to dead investments, which results in loss of investors’ interest and this hinders robotics market growth.
The market is categorized on the basis of type, application, component and geography. On the basis of type, market is divided into mobile robotics, exoskeleton, and static robotics. Based on application, market is divided into logistics, personal, last mile mobility, military, agriculture, construction/mining, medical, entertainment, research, and others. On the basis of component, market is split into sensors, control units, actuators, brake systems, vision systems, and others.
Geographically, market is segmented as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Owing to the low cost of production that is feasible for the manufacturers to set up their manufacturing units, Asia Pacific regions are expected to hold larger robotics market share in the years to come.
The prominent players in robotics market comprise Amazon, Google Inc., Fanuc Corporation, Clearpath Robotics Inc., Honda Motor Co. Ltd., Barrett Technology LLC, John Deere, Kuka AG, Seegrid Corporation, Aetheon Inc., Boeing, Bossa Nova Robotics, iRobot Corporation, Northrop Grumman Corporation, Lowe’s, Omron Adept Technologies, Fetch Robotics Inc., Savioke, Locus Robotics, and Swisslog.
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The market is divided into the following segments based on geography:
Global Robotics Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
• Intuitive Surgical
• Midea Group
• Mobile Industrial Robots
• Yaskawa Electric
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