Top Robotics Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Top Robotics Market: Overview
The surging demand for industrial robots with Internet of Things capabilities is transforming production lines, especially in the automotive and electronic industry. Next generation robots possess human-like attributes such as intelligence, recognition of objects, flexibility, memory, and ability to learn.
Industries implementing robotic technologies receive huge financial benefits due to reduced overheads, flexibility, increased productivity, and waste reduction.
Global Top Robotics Market: Key Trends
The top factor driving the top robotics market for industrial robots is the increasing adoption of automated systems and the rising demand for industrial robots from medium and small-sized enterprises in developing countries. This is because deployment of robotic solutions ensures quality production and caters to meeting market demand in a timely manner. However, factors such as high upfront costs and high R&D expenses and unreliable performance in untested environment and absence of a high level of interface are restraining the market’s growth.
Amongst industrial robots, articulated robots is expected to be leading product segment owing to their structural and operational capabilities. Articulated robots are extensively used in electrical and electronics, and automotive industries.
On the other hand, the service robotics segment of this market is driven by the increasing demand for mobile robotic solution for warehouse automation and logistics, increasing demand from healthcare industry, and the increasing deployment of service robots for educational pursuits.
Logistics currently holds the dominant position among the application segments of service robotics and is expected to retain its position in the near future. This is mainly due to the deployment of automated guided vehicles in production units and warehousing facilities for inventory management and freight handling.
Global Top Robotics Market: Market Potential
From a leap from robotic vacuum cleaners, butlers, or medical assistants, industrial robots account for the greatest slice of the global robotics market, as per a recent industry news. Unlike the classical industrial robot that were used to carry out repetitive tasks, the next-generation robots are supported by software and peripheral vision systems and can perform varying tasks reliably that matches human capabilities.
Global Top Robotics Market: Regional Outlook
Asia Pacific is the leading regional market for industrial robotics market is led significant revenue contributions from China, Japan, and South Korea. The high concentration of robotic machines in South Korea and Japan to support the expanding electronics industry in these countries is benefitting the industrial robotics market in Asia Pacific. As per statistics of the International Federation of Robotics, Japan is the leading market for industrial robotics trailed by China.
Moreover, the increasing deployment of automated systems in the automotive industry in Australia is anticipated to positively influence the regional market’s growth. Strong focus on improving production techniques combined with efforts for the modernization of factories for improved productivity is one of the major factors driving robotic installations in the U.S. and Brazil.
Global Top Robotics Market: Competitive Landscape
The key players in the global top robotics market for both industrial and service robots are ABB Ltd., Mitsubishi Electric Corp. FANUC Corp., Yaskawa Electric Corp., iRobot Corporation, Intuitive Surgical Inc., Honda Motor Co. Ltd., Aethon Inc., Lely Holding S.a.r.l., KUKA AG, Nachi-Fujikoshi Corp., Kawasaki Heavy Industries Ltd., Northrop Grumman Corporation, DJI, Parrot SA, Adept Technology Inc., DeLaval International AB, and The LEGO Group.
Due to being capital-intensive, the industry restricts the entry of new market players in the market. New players are anticipated to face challenges pertaining to insufficient venture capital for innovation and product differentiation, thus limiting their presence in the robotics industry.
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Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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