Global Robotics Market and Volume (Industrial and Service Robotics), Key Players Analysis - Forecast to 2025
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Description-
The Global Robotics Market was valued at around US$ 34 Billion in 2019 and the market is expected to register a double digit CAGR over the forecast period of 2020 - 2025. 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. 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. 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.
Industrial Robotics Market - Overview
The global industrial robotics market is likely to surpass US$ 24 Billion mark by 2025. The demand for industrial robotics is anticipated to grow exponentially during the forecasting period driven by advantages such as cost reduction, improved quality, increased production, and improved workplace health and safety. The adoption of automation to ensure quality production and meet market demand, and the growing demand from small- and medium-scale enterprises in developing countries is fueling the growth of industrial robotics market globally.
Industrial Robotics Market - Segment Analysis
On the basis of segment, the automotive industry accounted for highest share of the industrial robotics market. Around 32% 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 coming period of 2020-2025. 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.
Industrial Robotics Market - Regional Analysis
In terms of geographical regions, Asia/Australia is the world's strongest growth market for industrial robots. This region accounted for over 67% share of the industrial robotics market in 2019. The main drivers for this growth are the demand for industrial robots from small- and medium-scale enterprises in China, Japan, South Korea, and India. Since 2013 China has been the biggest robot market in the world with a continued dynamic growth. The five major markets including China, Japan, the Republic of Korea, the United States and Germany accounts for around 75% of the total robotics sales volume in 2019. Europe is the second leading region for industrial robotics market, followed by the Americas.
Global Service Robotics Market - Overview
The global service robotics market was valued at over US$ 17 Billion in 2019 and is expected to show significant growth during the forecast period, driven by an upsurge in its adoption owing to high labor cost, lack of skilled workforce, increasing research and development investments, growing awareness regarding the benefits of service robots, and increased demand for automation among professional and personal sectors. Service robots have witnessed widespread acceptance among various professional and personal applications owing to benefits such as enhanced usability, delivery of accurate and high-quality services, reliability, and reduced operational costs and human errors. Professional service robots are employed in various industries including medical, defense, agriculture, logistics, inspection and maintenance, rescue and security, construction, and professional cleaning among others, whereas personal service robots are used for domestic and entertainment and leisure purpose. The high initial investment and concern for human safety restricts the growth of the market.
Global Professional Service Robotics Market and Volume Forecast - By Segment
The logistic applications accounted for maximum share of the global professional service robotics market. The use of service robots in logistic industry is anticipated to show substantial growth. The growing e-commerce industry is the primary growth driver for this market. In 2019, medical application was the second major industry vertical, in terms of market share. Medical application employs service robots for a wide range of applications such as surgery, diagnostics, physical and mental therapy, and prosthetics among others. Defence robotics captured third highest share of the professional service robotics market in 2019, followed by Agriculture robots or Agribots. The implementation of robotics in agriculture is expected to bring out transformational result in coming years.
In volume terms, the logistic robots accounted for maximum share of the overall professional service robotics volume. Inspection and maintenance robots captured second highest share of the professional service robots sales volume in 2019. The medical robots accounted for merely 2% share of the professional service robotics volume in 2019, due to expensive nature of these devices.
Global Personal and Domestic Service Robotics Market and Volume Forecast - By Segment
Household robots accounted for maximum share of the personal and domestic service robotics market both in value and volume terms. This segment is likely to lead the personal and domestic service robotics volume throughout the forecasting period. The household robotics market consists of a wide variety of products focused on single tasks, such as floor care, lawn care, and pool care. While, entertainment and leisure robots are aimed at youth in the hopes of boosting their interest in robotics and other technical fields.
This is the 4th edition report on Robotics Market by iGATE RESEARCH. The report titled “Global Robotics Market and Volume (Industrial and Service Robotics), Key Players Analysis - Forecast to 2025” provides a comprehensive assessment of the fast-evolving, high-growth Global Robotics Industry.
This 225 Page report with 123 Figures and 18 Tables has been analyzed from 10 viewpoints:
1. Global Robotics Market and Volume Forecast (2009 - 2025) 2. Global Robotics Market, Volume, Share and Forecast (2009 - 2025) 3. Global Industrial Robotics Market and Volume Forecast (2009 - 2025) 4. Global Industrial Robotics Market and Volume Forecast - By Segment (2009 - 2025) 5. Industrial Robotics Volume and Forecast - Region and Country Wise Distribution (2010 - 2025) 6. Global Service Robotics Market and Volume Forecast (2009 - 2025) 7. Global Professional Service Robotics Market and Volume Forecast - By Segment (2009 - 2025) 8. Global Personal and Domestic Service Robotics Market and Volume Forecast - By Segment (2009 - 2025) 9. Key Player - Sales and SWOT Analysis (2010 - 2025) 10. Global Robotics Market - Growth Drivers and Challenges
Global Robotics Market and Volume Forecast - By Type
1. Industrial Robotics 2. Service Robotics
Global Industrial Robotics Market and Volume Forecast - By Segment
1. Automotive Industry 2. Electrical/Electronics Industry 3. Metal Industry 4. Chemical, Rubber and Plastics Industry 5. Food Industry 6. Others Industry 7. Unspecified Industry
Industrial Robotics Volume and Forecast - Region and Country Wise Distribution
1. Americas
• United States • Canada • Brazil • Mexico • Rest of South America
2. Asia/Australia
• China • India • Japan • Republic of Korea • Taiwan • Thailand • Vietnam • Other Asia/Australia
3. Europe
• Central/Eastern Europe • France • Germany • Italy • Spain • United Kingdom • Other Europe
4. Africa
5. Rest of the World (ROW)
Global Service Robotics Market and Volume Forecast - By Type
1. Professional Service Robotics 2. Personal and Domestic Service Robotics
Global Professional Service Robotics Market and Volume Forecast - By Segment
1. Defence 2. Agriculture/Field 3. Logistic 4. Medical 5. Exoskeletons 6. Public Relations Robots 7. Construction 8. Mobile Platforms 9. Inspection and Maintenance 10. Underwater 11. Rescue and Security 12. Cleaning 13. Others
Global Personal and Domestic Service Robotics Market and Volume Forecast - By Segment
1. Household Robotics 2. Entertainment and Leisure Robotics
Global Robotics Market - Key Players Sales and SWOT Analysis
1. KUKA AG 2. Adept Technology (Acquired by OMRON) 3. iRobot Corporation 4. Intuitive Surgical 5. Nachi-Fujikoshi 6. Yaskawa Electric Corporation
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