Robotics Market : Latest Trends, Demand And Analysis 2023

The global robotics market should reach $64.0 billion by 2023 from $38.1 billion in 2018 at a compound annual growth rate (CAGR) of 10.9% for the period 2018-2023.

Report Scope:

Robotics: Technologies and Global Markets (ENG001F) provides both a review of recent key developments in robotics and a forecast that examines the industry from the perspective of robot makers and their traditional and prospective end-users.

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Forecasts have been generated by region, by type of robot, by robot user, by robot-assigned task, and by type of robotic product and market region.

Five types of robots are discussed and forecast in this report: industrial robots, professional service robots, military robots, domestic service robots and security robots.

Seventeen types of robot-users are covered: aerospace manufacturing, agricultural, automotive manufacturing, building maintenance, chemical and fuel processing, construction, consumer products manufacturing, education and research, electrical and electronics manufacturing, food processing, government (defense), government (non-defense), healthcare, households, metals, pharmaceutical manufacturing, and textile and clothing manufacturing.

Nineteen robot-performed tasks are examined: assembly; assisted transport; building security; construction and demolition; couriers and guides; dispensing; entertainment; floor maintenance; exterior maintenance; hazardous materials disposal; inspection and sample collection; laboratory bench assistance; material handling; painting, coating and gluing; palletizing and packaging; part cutting and forming; surgery; surveillance; and welding and soldering.

Four robotic products groups are reviewed: whole robots, robot parts, robot software and robot safety materials.

Report Includes:

– 84 data tables and 34 additional tables
– An overview of recent key developments in the global market for robotics technologies and a look ahead at the next five years
– Analyses of global market trends with data from 2017 to 2018, and projections of compound annual growth rates (CAGRs) through 2023
– Coverage of market data by various segments such as robot types, end-uses, robot-performed task, types of product, application industries and geographical regions, including North America, APAC, EU and other emerging economies
– Study of impact analysis and discussion of technological, regulatory and economic trends that are affecting the robotics technologies’ market
– Evaluation of the market’s competitive dynamics, including critical success factors such as research-and-development capability, installed base, branding, and ecosystem influence and partnerships
– Company profiles of leading manufacturers and suppliers of robotics technologies, including ABB Group, Hitachi Ltd., Panasonic, Samsung, SICK Inc., Toyota Motor Corp. and Yamaha Robotics

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Summary

This report covers the robotic technologies market used in various end vertical applications such as aerospace manufacturing, agriculture, automotive manufacturing, building maintenance, chemical and fuel processing, construction, consumer products manufacturing, education and research, electrical and electronics manufacturing, food processing, government (defense), government (non-defense), healthcare, household, pharmaceutical manufacturing, and textile and clothing manufacturing. It also covers various types of robots such as industrial robots, professional service robots, military robots, domestic service robots, security robots and products such as whole robots, robot parts, robot software
and safety materials. It also covers robot-performed tasks such as assembly; assisted transport; building security; construction and demolition; couriers and guides; dispensing; entertainment; floor maintenance; exterior maintenance; hazardous materials disposal; inspection and sample collection; laboratory bench assistance; material handling; painting, coating and gluing; palletizing and packaging; part cutting and forming; surgery; surveillance; and welding and soldering.

The market growth outlook for robotics is strongly positive with significant growth potential for robotics in the automotive, electrical and electronics industries, construction, healthcare and defense. There is mounting pressure from end-user industries globally, however, to further reduce prices, improve the features, efficiency, operability of robotics and maximize the return on investment. At the same time, increasing investment in the modernization of production facilities in emerging markets is contributing toward the market growth.

Major players in the market are ABB Group, FANUC Corp., Kawasaki Heavy industries Ltd., KUKA AG, Mitsubishi Electric Corp., Rockwell Automation Inc., Robert Bosch GmbH, Siemens AG, Yaskawa Electric Corp., among others. The automotive manufacturing segment accounted for the largest share of the global robotics technologies market. The highest growth is projected to come from the construction segment, which is forecast to grow at a CAGR of REDACTED. Major factors for this growth include rapidly increasing greenfield infrastructure projects. Asia-Pacific is the largest region in the robotics technologies market, accounting for REDACTED of the global total. It is followed by Europe and North America. The market is challenged by restraints such as high investment costs, rising raw material prices due to higher import tariffs and safety concerns.

The global robotics market was valued at nearly REDACTED in 2017 and is expected to reach nearly REDACTED by 2023. Industrial robots accounted for the largest share of the robotics technologies market in 2017. The industrial robotics market was valued at REDACTED in 2017 and is expected to reach nearly REDACTED by 2023. It is expected to grow at the CAGR of REDACTED. The industrial robots market will be driven by increasing demand from the electrical/electronics manufacturing industry across the globe. The professional service robots market is expected to reach nearly REDACTED by 2023 at the highest CAGR of REDACTED. The major factor supporting this growth will be the deployment of professional service robots in various sectors such as healthcare and construction.

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