The global Robotics market reached a value of about USD 22.87 billion in 2021. The industry is projected to grow at a CAGR of around 11% in the forecast period of 2022-2027 to reach a value of about USD 41.63 billion by 2027.
The robotics market is being driven by an increase in the need for automation and safety in companies paired with the availability of inexpensive, energy-efficient robots. The introduction of this technology has provided convenience, higher productivity, decreased human errors, improved quality, and process automation to producers and service providers worldwide. The global Robotics industry report comprehensively analyses the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. In the industry report, the key demand indicator is the highest category spender by region—Asia Pacific.
Robotics is a field of computer science and engineering that is comprehensive. It is a field that combines science, engineering, and technology to create devices called robots that do (or mimic) human tasks. It is the design and operation of devices that can execute physical tasks independently or semi-autonomously. It can perform tasks that are either too repetitious or too risky for a person to safely complete. The Robotics industry report comprises segments by application (Industrial Robots, Commercial Robots, Domestic Robots, Military Robots, Social & Entertainment Robots), region (North America, Europe, Asia Pacific, the Middle East, and Africa, and South America).
The Asia Pacific is primarily leading the industry growth as South Korea and China are prominent in robotics adoption because of their enormous electronic and automobile manufacturing industries. As China recovers in the following years and other nations like Taiwan and Thailand strive for more automation, APAC will continue to be the fastest-growing region. To preserve their cost advantage, firms in APAC are being forced to automate. The demand for robotics is being propelled due to their extensive application in various industries. The technology is being employed due to companies' need for automation safety. Furthermore, the market's growth is fueled by rising labour and energy expenses. It is used in non-industrial sectors such as healthcare, where robots have been a critical component in less invasive operations. Rising costs and workforce constraints pave the way for non-industrial robots in the agriculture sector. Crop harvesting and picking vegetables and fruits without destroying them are two areas where robots have proved quite effective. The constant need to update manufacturing facilities to deal with rising labour costs, an ageing workforce, and a growing emphasis on efficiency and quality will increase demand for robots in the manufacturing industry.
However, the high initial cost of robotics and a lack of awareness among SMEs hamper the market's expansion.
The global Robotics industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Robotics regions, such as engagement models, contract terms, and buyer and supplier negotiation levers.
Robotics is a division of artificial intelligence (AI) that conducts studies of two or more subjects or areas of knowledge such as the conception, operation, design, and manufacturing of robots. It encompasses diverse disciplines of electrical and mechanical engineering and computer science. Robots refer to multidimensional, automatic, and re-programmable industrial machines, which can be fixed with a variety of high-tech devices, such as visual, tactile, and audio sensors. The development of this technology has enabled producers and service providers globally with convenience, increased productivity level, lowered human errors, improved quality, and automation of processes.
The various technological advancements in the industry are driving the industry forward. Industries such as healthcare, military & security, aerospace, education, food & beverage, home, and electronics are utilising robots’ technology to improve their efficiency through customised solutions. Robotics is being rapidly implemented in the defence and security sectors for bomb dispersal, mine detection, and monitoring. Underwater robotics, human-robot interaction, legged mobility, machine learning (ML), and self-driving cars are just a few developments. Aside from that, as robots become more connected to internal data systems, there has been a considerable increase in cybersecurity concerns. As a result, organisations and businesses worldwide have been substantially investing in research and development (R&D) operations to solve current risks while assuring safe, secure, and dependable output. The industry's shift toward automation, which will help mass customisation and shorter product life cycles, is expected to propel the global robotics market forward. As more organisations use industry 4.0 technology and automation in their production lines, robot manufacturers see a boom in market demand. Enterprise-grade automation solutions such as navigation, mapping, risk, and obstacle avoidance are being offered to robot makers by technology suppliers in collaboration with market participants.
The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
The worldwide robotics market is relatively competitive and fragmented, with many regional and global competitors. Market suppliers are concentrating on growing their consumer base in other nations. To increase market share and profitability, the corporations rely on strategic cooperation ventures. To grab a considerable revenue share and grow their worldwide reach, market participants focus on collaborations and developing more advanced service robots.
1. Executive Summary
2. Global Robotics Market Snapshot
2.1. Robotics Market Outlook
2.2. Robotics Industry Analysis by Application
2.2.1. Industrial Robots
2.2.2. Commercial Robots
2.2.3. Domestic Robots
2.2.4. Military Robots
2.2.5. Social & Entertainment Robots
2.3. Regional Overview
2.3.1. North America
2.3.3. Asia Pacific
2.3.4. Latin America
3. Impact of Recent Events
4. Robotics Value Chain Analysis
5. Robotics Production Process
6. Trade Analysis
7. Major Risk Factors in Sourcing
8. Robotics Cost Structure
9. Robotics Price Analysis
10. Key Demand Indicator Analysis
11. Key Price Indicator Analysis
12. Robotics Market Dynamics
12.1. Drivers & Constraints
12.2. Industry Events
12.3. Innovations & Trends
12.4. SWOT Analysis
12.5. Porter’s Five Forces
12.5.1. Buyer Power
12.5.2. Supplier Power
12.5.3. Threat of New entrants
12.5.4. Threat of Substitutes
12.5.5. Industry Rivalry
13. Industry Best Practices
13.1. Sourcing Strategy
13.2. Procurement Model
13.3. Contract Structure
13.4. Negotiation Levers
13.5. Pricing Model
13.6. Key Factors Influencing the Quotation
14. Key Supplier Analysis
14.1. Fanuc Corporation
14.2. Yaskawa Electric Corporation
14.3. ABB Ltd.
14.4. Kawasaki Heavy Industries, Ltd
14.5. Nachi-Fujikoshi Group
The global Robotics market size was valued at USD 22.87 billion in 2021.
As per the application provided, the household segment is anticipated to lead the market between the period 2022 – 2027.
The significant demand for automation in manufacturing is one of the essential drivers of the Robotics market growth.
FANUC Corporation, ABB Ltd, Denso Corporation, Toshiba Infrastructure Systems and Solutions Corporation, Mitsubishi Electric Corporation, and Yaskawa Electric Corporation are a few of the primary companies in the market.
The Asia Pacific region of the Robotics industry holds a significant share in the market.
The global Robotics market attained a value of USD 22.87 billion in 2021, driven by the rapid adoption of robot technology in various sectors. Due to rising labour and energy expenses, technology is witnessing further demand. Its features like Dealing with increasing labour costs, an ageing workforce, and a growing emphasis on efficiency and quality will increase demand for robots in the manufacturing industry. Aided by the ever-increasing technological advancements, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 11%. The market is estimated to reach USD 41.63 billion by 2027.
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