The new report by Expert Market Research titled, ‘Global Robotics Technology Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global robotics technology market, assessing the market based on its segments like components, robot types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2020): USD 71.2 Billion
- Forecast CAGR (2022-2027): 14.2%
The robotics technology industry has been witnessing considerable growth owing to the rising demand from small and medium scale enterprises in developing countries, improved quality, cost reduction, improved workplace health, and increased production efficiency. Many industries are predicted to adopt robotic technologies owing to trends in innovative technological advancements and automation. The development of robots with language and voice recognition, learning capabilities, mobility, and portability will further aid the industry growth. Moreover, the adoption of artificial intelligence and machine learning will offer a new generation of entertainment robots. Robotics technology is likely to witness a rise in demand due to its wide applications in the healthcare industry.
Industry Definition and Major Segments
Robotics is an interdisciplinary field that integrates science, engineering, and technology for producing robots, which are used to imitate human actions. Some robots require user input to operate while other robots can function autonomously. Robots can perform tasks that are either monotonous or too dangerous for a human to conduct safely.
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By component, the industry can be segmented into:
- Software
- Hardware
- Services
By robot type, the industry can be segmented into:
- Traditional Industrial Robots
- Cobots
- Professional Service Robots
- Others
Based on application, the industry is segmented into:
- Manufacturing
- Healthcare
- Aerospace and Defence
- Media and Entertainment
- Logistics
- Others
The regional markets for robotics technology include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
The key trends driving the growth of the robotics technology industry include the wide range of applications in defence, healthcare, aerospace, automotive, and infrastructure industries. These industries across the globe are adopting robotics technology for performing repetitive and time-consuming tasks efficiently. The rise in demand for automation and safety in companies, availability of affordable and energy efficient automated robots, and growth in adoption of robotics technology in emerging economies will drive the growth of the market. The demand for robotics technology in the logistics sector is mostly driven by the growing e-commerce industry. For bomb diffusion, mine detection, and monitoring, the defence and security industries are rapidly using robotics thereby boosting the market growth.
Key Market Players
The major players in the market are ABB Ltd., DENSO Corporation, FANUC America Corporation, Kawasaki Heavy Industries, Ltd., KUKA Aktiengesellschaft, Mitsubishi Electric Corporation, and Omron Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
About Us:
Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.
At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.
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