The Robotics Market research report 2021 provides a basic overview of the industry including definitions, classifications, applications, and industry chain structure. The Robotics market report provides information regarding market size, share, trends, growth, cost structure, Robotics market competition landscape, market drivers, challenges and opportunity, capacity, revenue, and forecast 2026.
The report delivers a comprehensive overview of the crucial elements of the market and elements such as drivers, current trends of the past and present times, supervisory scenario & technological growth. This report also includes the overall and comprehensive study of the Robotics market with all its aspects influencing the growth of the market. This report is an exhaustive quantitative analysis of the Robotics industry and provides data for making strategies to increase market growth and effectiveness. The report covers the post-COVID-19 (Corona Virus) impact on various regions and major countries and on the future development of the industry is pointed out.
The Robotics Market was valued at USD 23.67 billion in 2020 and is expected to reach USD 74 billion by 2026 and grow at a CAGR of 20.4% over the forecast period (2021-2026).
The report presents the market competitive landscape and a corresponding detailed analysis of the major vendors/key players in the market. Top Companies in the Global Robotics Market: ABB Ltd, Yaskawa Electric Corporation, Denso Corporation, Fanuc Corporation, Kuka AG, Kawasaki Heavy Industries Ltd, Toshiba Corporation, Panasonic Corporation, Staubli International AG, Nachi Robotic Systems Inc., Yamaha Motor Co. Ltd, Seiko Epson Corporation, Comau SpA, Adept Technologies Inc., Intuitive Surgical Inc., Stryker Corporation, Maxar Technologies Ltd (Mda Corporation), and others.
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Key Market Trends
Service Robotics is Expected to Register Fastest Growth
– Factors like the aging population and shortages of healthcare workers are driving the demand for assistive technology robots. Companies like KUKA(healthcare subsidiary Swisslog) are specializing in robots for healthcare applications. For instance, Swisslogs Relay is designed for inpatient and outpatient services, like the transport of medicines and other hazardous medications, including chemotherapy. The emergence of robotic technology has transformed the way businesses are carrying out their operations. Moreover, with the proliferation of e-commerce, the need for automated warehouses is increasing. Kiva and Mobile Industrial Robots(MiR) are prominent companies among other startups innovating in the warehouse robotics space.
– The growth of omnichannel retailing means distribution centers and logistics warehouses need to transform their systems to handle both pallets and packaging destined for retail shelves, while also picking and packing highly varied items for shipping directly to individual consumers. In May 2020, ABB enhanced robotic picking and packing portfolio to transform omnichannel order fulfillment and retail logistics with the launch of the new IRB 390 FlexPacker to support customized packaging, vertical packing, and high-speed, high-variation sorting and on-demand order picking in logistics and e-commerce fulfillment centers. Possible uses include secondary packaging in food (dry and wet), beverage, pharmaceutical, medical, personal care, pet care (food and more), CPG (Consumer Packaged Goods), and logistics.
Asia-Pacific is Expected to Hold Major Share
– Due to the significant adoption of industrial robots throughout the region, Asia-Pacific is expected to record the highest growth rate over the forecast period. China is dominating the regional adoption rate of robotics due to the massive deployment in the country’s governing electronic and automotive manufacturing sectors. As these sectors are developing at a high rate in other economies in the region like India, there is vast potential for growth in the market studied. The regional government is also a significant factor in the development of the regional robotics market. For instance, India plans to invest in military robotics, and by 2023, the country is preparing to deploy advanced robotic soldiers. Also, a New Delhi-based company is building robots for the Indian Army.
Recent Market Developments:
– March 2020 – Yaskawa Motoman launched HC20XP collaborative robot. Featuring hand-guided teaching for implementation of a robot system, the 20 kg payload HC20XP collaborative robot is suited for applications where robots need to work safely or close to humans. The IP67-rated collaborative robot is equipped for continuous use in damp or splash-prone environments. Made of cast aluminum, this model features a surface designed for utilization in sanitary environments where wipe or wash is required.
– February 2020 – DENSO Robotics was showcased new robots aimed at entry-level manufacturing applications, as well as a new series of high-performance robots for large part manufacturing at ATX West 2020 manufacturing event. The new products include the LPH series, which is expected to meet the demand for precision robots for light-duty manufacturing applications, and the VM-VL series, giant assembly robots aimed at manufacturing, transportation, warehousing, and other industrial applications.
What are the market factors that are explained in the report?
– Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
– Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
– Analytical Tools: The Robotics Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. Analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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