Global robotics market is expected to reach USD 158.21 Billion by 2025, at a CAGR of 19.11% from 2018 to 2025. Factors propelling the growth of the market include robotics reduces labor cost and need of skilled workforce, the 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.
Robots play a vital role in industrial automation performing various operations in industries from production to the 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. This 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.
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- The base year for the study has been considered 2017, the historic year 2015 and 2016, the forecast period considered is from 2018 to 2025.
- The report provides the key data of Production (‘000 Units), Consumption (‘000 Units), Import & Export (‘000 Units), Demand, Supply, and Gap Analysis to understand the present and future scenario of the market.
- The study delivers a comprehensive analysis of the global robotics market by robotic type, component, structure, application, and regions.
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
- Porter’s Five Forces model is used to recognize the competitive scenario in the global Robotics market. This report incorporates the industry analysis which is focused on providing an extensive view of the Robotics market.
- The study also includes attractiveness analysis of robotic type, component, structure, application, and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the Robotics market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Adoption of robots across a wide range of industries including defense & security, manufacturing, automotive, healthcare, and electronics
- Robotics reduces labor cost and need of a skilled workforce
- Introduction of industry 4.0 driving automation
- Increasing safety concerns across industries
- Higher demand from the oil & gas industries
- Efficient and provides better quality products and services
- High installation & maintenance cost
- High initial investment
- Adoption of robotics to automate the processes
- Increased implementations in various industries
- Improvements in robotic system integration services
- Complexity of robots
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacific region valued around USD 14.28 billion in 2017.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.
The major players of 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, Northrop Grumman Corporation, Amazon, Clearpath Robotics Inc., Kuka AG, and others.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.
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