Global Robotics Market (2021 to 2025) – Featuring Intuitive Surgical, iRobot and KUKA Among Others – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Global Robotics Market (Industrial and Service Robotics) and Volume, Impact of COVID-19, Key Players Analysis – Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
The Global Robotics Market was valued at around US$ 31 Billion in 2020 and the market is expected to register a double digit CAGR over the forecast period of 2021 – 2025.
Companies Mentioned
- Adept Technology (Acquired by OMRON)
- Intuitive Surgical
- iRobot Corporation
- KUKA AG
- Nachi-Fujikoshi
- Yaskawa Electric Corporation
The adoption of robots across a wide range of industries including manufacturing, healthcare, defense and security, logistics, inspection and maintenance, automotive, electronics, and food and beverage has accelerated the growth of the market. The market for robotics is anticipated to grow exponentially during the forecast period driven by advantages such as cost reduction, improved quality, increased production, and improved workplace health and safety. Robots deliver better quality products and services more efficiently, with less wastage and without causing physical damage to humans due to their autonomous nature. The increasing use of robotics will boost the growth of the market in the coming future. However, the high initial investment and concern for human safety restricts the growth of the market.
Impact of COVID-19 on Robotics Market
The COVID-19 outbreak has become a global stress test. As the number of people infected with the virus continues to rise around the world, uncertainties about global economic growth increases. The COVID-19 disease has infected more than 176 Million people worldwide. Globally the death toll has surpassed 3,803,257, according to the latest statistics from the Worldometers (as of June 12, 2021). The number is still growing, and the duration of the pandemic is still difficult to predict. The novel coronavirus has increased interest in robots, drones, and artificial intelligence.
The COVID-19 global pandemic has two effects on the robotics industry. First, it drives the growth of professional service robots, which can help augment critical infrastructure staff and alleviate supply chain stresses. On the other hand, the market for industrial robots is hampered due to their reliance on the automotive and electrical/electronic industries. The markets for most types of service robots seems hardly affected by the COVID-19 pandemic. Robotic solutions support social distancing, are not sent to quarantine and are not affected by travel bans. These technologies can help deal with massive staffing shortages in healthcare, manufacturing, and supply chains; the need for “social distancing;” and diagnosis and treatment. Following a slowdown in global demand of industrial robots due to the COVID-19 pandemic, it is expected that the major industrial robot vendors will start receiving orders from 2021 onwards.
Industrial Robotics Market – Segment Analysis
On the basis of segment, the automotive industry accounted for highest share of the industrial robotics market. Around 28% of all industrial robot installations take place in the automotive industry. The market for industrial robotics in the electrical and electronics industry is probably the one most affected by the China-US trade crisis as Asian countries (e.g., China, Japan, Republic of Korea) are leaders in manufacturing electronic products and components. Metal industry has been seeing an accelerated growth of industrial robotics adoption in recent years. Both unit shipment and the sales revenue are expected to enjoy handsome growth over the forecast period. Chemical, rubber and plastics industry is the fourth largest market for industrial robotics market, while food industry accounted for least share of the global industrial robotics market.
Key Topics Covered:
1. Executive Summary
2. Impact of Coronavirus (COVID-19) Pandemic on Robotics Market
3. Global Robotics Market and Forecast (2009 – 2025)
4. Global Robotics Volume and Forecast (2009 – 2025)
5. Global Robotics Market and Volume Share Analysis
6. Global Industrial Robotics Market Share and Forecast
7. Global Service Robotics Market and Volume Share Analysis (2009 – 2025)
8. Global Industrial Robotics Market and Volume Forecast – By Segment (2009 – 2025)
9. Global Industrial Robotics Volume and Forecast – By Region and Country Wise Distribution (2010 – 2025)
10. Global Professional Service Robotics Market and Volume Forecast – By Segment (2009 – 2025)
11. Global Personal and Domestic Service Robotics Market and Volume Forecast – By Segment (2009 – 2025)
12. Key Player Analysis (2010 – 2025)
13. Global Robotics Market – Growth Drivers
13.1 Increasing Research and Development Expenditure
13.2 Technology Trends Shaping the Future of Robotics
13.3 Government Initiatives Drives Market for Robotics
13.4 Co-Bots Drives Robotics Industry
13.5 Improved Service, Increased Operational Efficiency and Safety
14. Global Robotics Market – Challenges
14.1 Human-Robot Interaction Challenges
14.2 The High Cost of Robots Restricts Market Growth
14.3 Delayed Return on Investment (ROI)
For more information about this report visit https://www.researchandmarkets.com/r/p8r2jb
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