Research Report on Robotics Market Outlines Growth Opportunities & Industry Status

The global robotics market is valued at USD 38.3 billion in 2016 and is expected to reach USD 102.08 billion by the end of 2026, growing at a CAGR …
The global robotics market is valued at USD 38.3 billion in 2016 and is expected to reach USD 102.08 billion by the end of 2026, growing at a CAGR of 10.3 % between 2017 and 2026.

Robotics is study of robots and is responsible for construction, design, operation, and application of robots. A robot is an electro-mechanical device which is programmed to follows a set of instructions to carry out required tasks without the help or aid of any human involvement. Robots can perform required tasks repeatedly in exactly the same way once programmed. Asia Pacific is largest market for robotics market in 2017 and is expected to remain the largest market during forecast period. North America play a vital role in global robotics market and is anticipated to show a relatively higher growth in the upcoming years.

Robots were primarily used for a set of operations to be performed which were repetitive in nature but as robotics technology is improving day per day, robots are started playing an important role in everyone’s life in every field. Hence, non-industrial robots accounted for 70% global robotics market in 2017, growing from a 64% share in 2016. This growth is driven due to increasing penetration of robotics technology in consumer, enterprise, healthcare, military, unmanned aerial vehicles (UAVs), and autonomous vehicles segment.

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Labor-intensive industries are highly adopting automation due to rising labor costs and lack of skilled workforce issues. Better equipped robots to interact with humans are improving job performance and productivity. Hence, robotics technology is nowadays used for research where it’s impossible for humans to reach at that location, agriculture, construction/mining, entertainment, medical, logistics, personal and defense. But high cost and frequent high maintenance cost along with the high procurement cost are proving to be barrier for growth of this market.

Global Robotics Market: Competitive Analysis

Report includes accurate analysis of key players with Market Value, Company profile, SWOT analysis. The Study constitutes of following key players in Global Robotics Market:

• Barrette Technology LLC

• ABB Ltd.

• iRobot Corporation

• Mitsubishi Electric Corp.

• John Deere

• Kawasaki Heavy Industries Ltd.

• NACHI-FUJIKOSHI CORP.

• Honda Motor Co. Ltd.

• CMA ROBOTICS SPA

• DAIHEN Corporation

• Artech Automation

• Locus Robotics

• Omron Adept Technologies

• Universal Robots A/S

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Global Robotics Market: Model Type

• Static Robotics

• Exoskeleton

• Mobile Robotics

Global Robotics Market: Application

• Construction/Mining

• Medical

• Entertainment

• Research

• Logistics

• Personal

• Last Mile Mobility

• Military

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This release was published on openPR.

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