Robotics Technology Market to Witness Surging Expansion at 28.51% CAGR by 2024

Market Overview

Market Research Future (MRFR), in its latest analysis has studied the global Robotics Technology Market for the forecast period of 2019-2024. As per this report, the global Robotics Technology Market is estimated to reach a market valuation of USD 181028.6 million by the end of the forecast period, expanding at 28.51% CAGR. A considerable rise in the demand is observed for interactive entertainment robots, industrial robots, and robot pets which are embedded with omnidirectional sensors and cameras, which are used for processing 360 degree images and videos in real time. These robots are known to find a wide range of applications in different end-user industries such as media & entertainment, healthcare, defense and security.

Market Segmentation

The global Robotics Technology Market is segmented on type, mobility, end-user, and region. Based on type, the global Robotics Technology Market is segmented into SCARA, cartesian, articulated, cylindrical, and parallel. Among these, the articulated segment held a prime share in the global Robotics Technology Market in the base year with a market value of USD 9,937.1 million. On the other hand, SCARA is likely the second largest segment and is expected to register the highest CAGR over the forecast period.

Based on mobility, the global Robotics Technology Market is segmented into fixed robotics and mobility robotics. The mobile robotics segment held the largest share in the market at the beginning of the forecast period. Mobile robotics is also expected to witness highest growth rate over the forecast period. Mobile robots combine artificial intelligence with a physical robot movement, which is known to enable navigation within the robot’s surrounding. On the other hand, fixed robots cannot move their base away from the area of their operation. Fixed robots are also known as industrial robots which work in a well-defined environment implemented for robots.

Based on end-users, the global Robotics Technology Market is segmented into entertainment, medical, field, defense, logistics, manufacturing, and public safety. The manufacturing segment accounted for the chief share of the market in 2018. The entertainment segment is anticipated to follow the manufacturing segment, garnering the second-largest share of the market and is also observed to exhibit the highest growth rate over the assessment period.

Key Players

Some of the prime players prevalent in the global Robotics Technology Market include Universal Robots A/S (Denmark), BOSTON DYNAMICS (US), iROBOT Corporation (US), Nachi-Fujikoshi Corp (Japan), Kawasaki Heavy Industries, Ltd. (China), Honda Motor Co. Ltd (Japan), ABB Limited (Switzerland), Sony Corporation (Japan), Mitsubishi Electric Corporation (Japan), Northrop Grumman Corporation(US), Omron Corporation(Japan), FANUC CORPORATION(Japan), Kuka AG (Germany), Yaskawa Electric Corporation(Japan), and Denso Corporation (Japan).

Detailed Regional Analysis

The global Robotics Technology Market is studied for the regional segments of Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. Asia Pacific, among these, is expected to witness fast paced ascension in the forecast period owing to the advancements in camera and sensor technologies in the region.

Industry Update

April 2019: ABB announced their partnership with Dassault Systemes for the provision of a digital twin that is created with 3DEXPERIENCE platform provided by Dassault Systemes. This partnership is expected to enable customers with an optimization of their operations in a fully digital manner, which includes design, operations, building, and maintenance phases of operations.

January 2019: KUKA recently announced the launch of a new generation of the KR QUANTEC series. This has led to an augmentation in flexibility, lower operating costs, reduced delivery times, and hence, higher economies of scale.

October 2018: Omron recently launched a TM series collaborative robot which enables an innovative manufacturing environment where machines can work with humans in collaboration.

LIST OF TABLES

TABLE 1 ROBOTICS TECHNOLOGY MARKET, BY TYPE

TABLE 2 ROBOTICS TECHNOLOGY MARKET, BY MOBILITY

TABLE 3 ROBOTICS TECHNOLOGY MARKET, BY CONSUMER

TABLE 4 ROBOTICS TECHNOLOGY MARKET, BY REGION

TABLE 5 NORTH AMERICA ROBOTICS TECHNOLOGY MARKET, BY TYPE

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LIST OF FIGURES

FIGURE 1 RESEARCH ROBOTICS

FIGURE 2 ROBOTICS TECHNOLOGY MARKET, BY TYPE (%)

FIGURE 3 ROBOTICS TECHNOLOGY MARKET, BY MOBILITY (%)

FIGURE 4 ROBOTICS TECHNOLOGY MARKET, BY CONSUMER (%)

FIGURE 5 ROBOTICS TECHNOLOGY MARKET, BY REGION (%)

Continued……

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