What is Robotics Market Scope?
Robotics is the study of robots. The field of robotics generally involves looking at how any physical constructed technology system can perform a task or play a role in any interface or new technology. According to the International Federation of Robotics (IFR), the automotive segment remains the world’s largest robotics market with a record 21 Percent growth in 2017. The IFR disclosed at Automatica 2018 that 125,200 units were sold in the segment last year. Moreover, according to the International Federation of Robotics (IFR), approximately 31 million robots will be helping households across the globe by 2019.
Influencing Trend:
Adoption of Collaborative Robots (Cobots) for Making Automation Easier in Manufacturing Environment
Market Growth Drivers:
Surging Demand for Smart Factories and Automation, Increasing Popularity of Artificial Intelligence (AI) and Surging Adoption of State-of-the-Art Production Facility in Developed Economies
Challenges:
Lack of Advanced Robotic Systems that Meet Requirements in the Era of Industrial IoT Technology
Restraints:
High Installation Cost for Low-Volume Production Applications
Opportunities:
Increase in Demand for Low-Cost Industrial Robots Capable of Working in Collaboration with Humans and Rapidly Evolving Technology in Sensing and Visualization Equipment
The Robotics market study is being classified by Type (Mobile Robotics, Exoskeleton and Static Robotics), by Application and major geographies with country level break-up.
According to AMA, the Global Robotics market is expected to see growth rate of 9.2% and may see market size of USD50.32 Billion by 2028. Analysts at AMA predicts that Players from Japanese and United States will contribute to the maximum growth of Global Robotics market throughout the predicted period.
FANUC (Japan), ABB (Switzerland), Yaskawa (Japan), KUKA (Germany), OTC Daihen Inc. (United States), Panasonic (Japan), Kawasaki Robotics Inc. (Japan), Nachi (Japan), Seiko Epson (Japan), Mitsubishi Electric Corporation (Japan), Denso Robotics (United States), Yamaha Robots (Japan), Toshiba (Japan), iRobot (United States), Neato Robotics (United States) and Metapo Inc. (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Ecovacs (China), Proscenic (China) and Samsung (South Korea).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Robotics market by Type, Application and Region.
On the basis of geography, the market of Robotics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their Development Strategies
In September 2018, ABB acquired AB Rotech, a privately-owned company in Turkey. The acquisition will boost ABB’s robotic welding solutions for all tiers in the growing automotive segment. and In September 2018, ABB announced it has completed its acquisition of Intrion a privately owned company. The acquisition offers logistics automation solutions and services for the logistics, food and beverage and pharmaceutical industries.
In November 2018, ABB and Kawasaki announced collaborative robot automation cooperation, to focus on ‘cobots’ and the creation of common industry approaches for safety, programming, and communications., In September 2018, ABB launched compact and lightweight 6-axis robot, which offers 35 percent faster cycle time for increased productivity. and In May 2018, Hyundai Heavy Industries (South Korea) partnered with KUKA for strategic sales framework agreement.
Key Target Audience
Original equipment manufacturers (OEMs), OEM technology solution providers, Research institutes, Software Providers, End Users and Others
Robotics Market Study: Important Years
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Billion) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Robotics Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Robotics industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.