The demand for 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 robots across a wide range of industries including manufacturing, healthcare, defense and security, 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. They help to reduce operating costs, while increasing production output. The increasing use of robotics will boost the growth of the market in the coming future. —
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Industrial Robotics Market Overview
The global industrial robotics market is expected to reach US$ XX Billion by 2022, growing at a double digit CAGR between 2017 and 2022. 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. The electrical and electronics segment is the second largest market for industrial robotics capturing XX% share in 2016. The market for industrial robotics in the electrical and electronics industry is expected to grow at double digit CAGR between 2017 and 2022 owing to the introduction of new electronic products into the market, the miniaturization of electrical and electronics equipment, and complexity in manufacturing processes. The metal industry is the third largest market for industrial robotics. Chemical, rubber and plastics industry is the fourth largest market for industrial robotics market, while food industry accounted for over XX% share of the global industrial robotics market.
Industrial Robotics Market Regional Analysis
In terms of region, the five major markets including China, South Korea, Japan, United States, and Germany accounts for around 74% of the total robotics sales volume in 2016. Asia/Australia is the world's largest market for industrial robots, driven by growing demand for industrial robots from small- and medium-scale enterprises in China, Japan, South Korea, and India. Europe is the second leading region for industrial robotics market. Americas is the third largest market for industrial robots.
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Service Robotics Market Overview
The global service robotics market was valued over USD 7 Billion in 2016. 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, rescue and security, agriculture, logistics, construction, and professional cleaning among others, whereas personal service robots are used for domestic and entertainment and leisure purpose.
The global service robotics market is expected to almost triple by 2022 from the 2016 level, 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. However, high initial investment and concern for human safety restricts the growth of the market.
Service Robotics Market Segment Analysis
In 2016, medical application was the major industry vertical, in terms of market share, followed by logistic applications with XX% share in the same year. The use of service robots in logistic industry is anticipated to show substantial growth. 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 in 2016. The defense segment accounted for second largest share of the professional service robotics volume with XX% share in 2016, followed by Public Relations Robots with XX% volume share in the same year. The medical robots accounted for single digit share of the professional service robotics volume in 2016, due to expensive nature of these devices.
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This is the 2nd edition report on Robotics Market by iGATE RESEARCH. The report titled “Global Robotics Market (Industrial and Service Robotics) and Volume Forecast to 2022” provides a comprehensive assessment of the fast-evolving, high-growth Global Robotics Industry.
This 208 Page report with 123 Figures and 18 Tables has been analyzed from 9 viewpoints:
1. Global Robotics Market and Volume Forecast (2009 - 2022)
2. Global Industrial Robotics Market and Volume Forecast (2009 - 2022)
3. Global Industrial Robotics Market and Volume Forecast - By Segment (2009 - 2022)
4. Industrial Robotics Volume and Forecast - Region and Country Wise Distribution (2010 - 2022)
5. Global Service Robotics Market and Volume Forecast (2009 - 2022)
6. Global Professional Service Robotics Market and Volume Forecast - By Segment (2009 - 2022)
7. Global Personal and Domestic Service Robotics Market and Volume Forecast - By Segment (2009 - 2022)
8. Key Player - Sales and SWOT Analysis (2010 - 2022)
9. 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
Rest of South America
Republic of Korea
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
6. Public Relations Robots
8. Mobile Platforms
11. Rescue and Security
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
6. Yaskawa Electric Corporation
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