Future Outlook of the Robotics Market: Analyzing Size, Segmentation, and Competitive Landscape By Report Ocean
Introduction
The “ Robotics “ market’s future trajectory is a topic of paramount importance, necessitating a comprehensive analysis encompassing market size, segmentation, competitive landscape, present conditions, and anticipated trends. Moreover, the ongoing challenges posed by the COVID-19 pandemic also warrant strategic insights for businesses to navigate these circumstances successfully.
Market Size and Segmentation
The Robotics market’s evolution hinges on understanding its size and segmentation dynamics. This entails delving into aspects like product types, applications, and geographical distribution. By dissecting these facets, a clearer perspective on future growth prospects can be gained.
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The global Robotics market in 2021 was valued at USD 32,769.9 Million and is projected to reach USD 107,125.3 Million by the year 2030. The market is anticipated to register a CAGR of 14.55% over the projected period. In 2021, around 55,441 thousand units were estimated to be sold.
Robotics is an interdisciplinary branch of engineering as well as computer science. It involves designing, construction, operation, and usage of robots. Changing socio demographic trends supporting robot applications coupled with switch to industry 4.0 is increasing the demand of robots. Furthermore, increasing usage of robots in healthcare and other industry is also expected to fuel the market growth.
Despite the driving factors, cyber threat and risk of robot malfunctioning are expected to hinder the market growth during the forecast period. Furthermore, high cost of installation is also estimated to negatively impact the market growth.
Growth Influencers:
Increasing usage of robots in healthcare and other industry
In the healthcare industry, robots are used for transforming the way surgeries are performed and streamline disinfection as well as supply delivery. They also help in saving healthcare providers? time and engage with their patients. The benefits of robotics in healthcare include high-quality patient care, operational efficiencies, and safe work environment, which further provide market growth. Other industries where robotics is heavily used include manufacturing, logistics, mining, and retail, among others.
Segments Overview:
The global Robotics market is segmented the component, robot type, application, and industry.
By Component,
? Hardware
o Actuators & Controllers
o Camera
o Sensors
o Infrared Detectors
o Speakers & Microphones
o Power Systems
o Others
? Software (Robotic Operating System)
o On Premises
o Cloud
? Services
o Design and Maintenance
o Robots as a Service (Managed Service)
o Consulting & Training
The hardware segment is anticipated account for the highest market share of more than 40% in 2021 owing to various technological advancements in sub-segments, such as sensors and infrared detectors, among others. The actuators and controllers sub-segment is estimated to cross a mark of USD 5,000 million by 2027 owing to the rising number of players investing in this sub-segment.
Similarly, the power systems segment is estimated to hold an opportunity of more than USD 7,000 million during 2022 to 2030. The software segment is anticipated to witness the fastest growth rate of around 15.1% during the projected period owing to the rising automation. Within the services segment, the consulting and training segment is expected to account for the largest market share in 2021.
By Robot Type,
? Industrial Robots
o Articulated Robots
o SCARA
o Cobots
o Autonomous Mobile Robots (AMRs)/ Automated Guided vehicles (AGVs)
o Others
? Delivery Robots
? Drones/UAVs
? Humanoids
? Medical Robots
? Exoskeleton
? Others
The industrial robots segment is accounted for the largest market share of more than 35% in 2021 owing to their rising use for manufacturing purposes. The drones/UAVs segment is anticipated to witness the fastest growth rate of around 14.9% during the projected period owing to the increasing demand for drones globally. The delivery robots segment to account for an opportunity of more than USD 13,000 million during 2022 to 2030 owing to the growing e-commerce industry.
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By Application,
? Industrial (Process Automation)
o Welding
o Painting
o Assembly
o Transport
? Commercial
o Mobility
o Security
o Cleaning
o Inspection
o Medical/ Surgery
o Training & Learning
o Emergency Response (rescue operations)
? Residential (Personal Service)
o Companionship
o Entertainment
o Medical/ Physical Assistance
o Education
o Communication/ Telepresence
o Security
? Public/ Social
o Smart Cities
o Emergency Response/ Disaster Management
The industrial (process automation) segment is anticipated to witness the fastest growth rate of around 14.7% during the forecast period owing to the increasing demand for robots for automating the manufacturing processes. Within this segment, the assembly sub segment held the largest market share in 2021. This is because the assembly stage is one of the labour intensive stages and robotics helps to ease to process.
Within the commercial segment, the inspection sub segment is estimated to account for the highest growth rate, as inspection needs to be carried out diligently, which can be efficiently carried out using robotics. In addition to this, within the residential segment holds an opportunity of over USD 3,500 million during 2022 to 2030 owing to the growing entertainment industry. The public/social segment is anticipated to generate over USD 5,000 million by 2025 owing to the growing investments in smart cities globally.
By Industry,
? Manufacturing
? Retail
? Education
? Enterprises
? Household
? Healthcare
? Warehouse & Logistics
? Media & Entertainment
? Mining, Oil & Gas
? Energy & Utility
? Agriculture
? Travel & Tourism
? Others
The manufacturing sector holds the largest market share of around 20% in 2021 owing to the rising demand for industrial robots globally. Furthermore, the travel and tourism segment is anticipated to grow at the highest growth rate of around 16.5% during the projected period owing to the growing tourism and travel industry.
Regional Overview
Based on region, the global Robotics market is divided into Europe, North America, Asia Pacific, South America, and the Middle East & Africa.
The North America region is expected to account for a market size of USD 10,000 million by 2027 owing to the increasing use of robots in various industries and presence of various market players in the region.
Asia Pacific region is also expected to witness the fastest growth rate of around 15.2% during the forecast period owing to the rising adoption of novel technologies in emerging economies, such as China, India, and Japan.
South Korea is leading the way in terms of robotics density with around 531 robot units per 10,000 employees. This is followed by Singapore and Japan with around 398 and 305 units, respectively. These Asian countries have some of the most advanced industries in the world. The average robot density per 10,000 employees in 69 robots units globally. Also, China is anticipated to be a key market over the forecasted period.
Competitive Landscape
Key players operating in the global Robotics market include ABB Ltd, Blue Ocean Robotics, Denso Corporation, Fanuc Corporation, Fetch Robotics, Inc., Honeywell International Inc., Kawasaki Robotics, Kuka AG, Mitsubishi Electric Corporation, Motorola Solutions, Inc., Omron Corporation, RoboAds, Seiko Epson Corporation, Simbe Robotics, Inc., Yaskawa Electric Corporation, and Other Prominent Players. The cumulative market share of 4 major players is more than 30%.
These market players are involved in collaborations, mergers & acquisitions, and new product launches to strengthen their market presence. For instance, in January 2022, UVD Robots, a part of Blue Ocean Robotics partnered with Ecolabs for providing Autonomous UV-C disinfection robots for combating the problem of hospital acquired infections.
The global Robotics market report provides insights on the below pointers:
? Market Penetration: Provides comprehensive information on the market offered by the prominent players
? Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
? Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
? Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Robotics market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
? Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The global Robotics market report answers questions such as:
? What is the market size and forecast of the Global Robotics Market?
? What are the inhibiting factors and impact of COVID-19 on the Global Robotics Market during the assessment period?
? Which are the products/segments/applications/areas to invest in over the assessment period in the Global Robotics Market?
? What is the competitive strategic window for opportunities in the Global Robotics Market?
? What are the technology trends and regulatory frameworks in the Global Robotics Market?
? What is the market share of the leading players in the Global Robotics Market?
? What modes and strategic moves are considered favorable for entering the Global Robotics Market?
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Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Key Reasons to Purchase this Report:
Strategic Direction: This research report provides insightful analysis and strategic advice for senior executives, decision-makers, professionals, sales managers, and other market stakeholders working in this space. It aids in decision-making and offers strategic recommendations for product advancements.
Comprehensive Analysis: Both economic and non-economic aspects are taken into account in the report’s thorough qualitative and quantitative analysis of the market. For a complete knowledge of market dynamics, it contains a segment breakdown with market evaluations expressed in terms of value (USD Billion) for each segment.
Growth Opportunities: The research highlights the geographies and market categories predicted to expand at the highest rates, potentially positioning them to dominate their respective markets. It offers a thorough examination of consumption trends in various geographic areas and highlights the variables affecting regional market trends.
Competitive Landscape: The competitive landscape section lists the top market rivals and discusses current business expansions, collaborations, product launches, and acquisitions. This data makes it easier to evaluate significant players’ market positions.
Detailed Company Profiles: These include their company description, insights, product benchmarking, and SWOT analysis, providing a thorough picture of the major market participants. Stakeholders are able to assess the advantages and disadvantages of the leading market players due to these profiles.
Future Market Outlook: The study presents recent trends, growth prospects, drivers, challenges, and restraints in both emerging and developed regions. It also includes current and future market outlooks. It gives stakeholders knowledge of potential industry trends and aids in their prediction of upcoming market dynamics.
Industry Analysis: Using Porter’s Five Forces Analysis, the research provides a comprehensive analysis of the industry, looking at factors such as the bargaining power of customers and suppliers, rivalry among businesses, the threat of alternative products, and the threat of new entrants. This research helps to comprehend how fiercely the market is competitive.
Value Chain Insights: Through a thorough examination of the value chain, the research offers insightful information about the market. This aids stakeholders in comprehending the main processes and actors involved in the creation and supply of the good or service.
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