Global Robotics Market (2021 to 2025) – With Intuitive Surgical, iRobot, and KUKA, among others – ResearchAndMarkets.com
DUBLIN – (COMMERCIAL THREAD) – The report “Global Robotics (Industrial and Service Robotics) Market and Volume, Impact of COVID-19, Key Player Analysis – Forecast to 2025” has been added to ResearchAndMarkets.com offer.
The global robotics market was valued at around US $ 31 billion in 2020 and the market is expected to register a double-digit CAGR during the forecast period 2021-2025.
Adept Technology (acquired by OMRON)
Yaskawa Electric Company
The adoption of robots in a wide range of industries, including manufacturing, healthcare, defense and security, logistics, inspection and maintenance, automotive, electronics and food processing has accelerated the market growth. The robotics market is expected to grow exponentially during the forecast period, driven by benefits such as lowering costs, improving quality, increasing production and improving health and safety at work. Robots deliver better quality products and services more efficiently, with less waste and without causing physical harm to humans due to their autonomous nature. The increasing use of robotics will drive the market growth in the near future. However, the high initial investment and concern for human security limit the growth of the market.
Impact of COVID-19 on the 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 are increasing. The COVID-19 disease has infected more than 176 million people worldwide. Worldwide, the death toll has exceeded 3,803,257, according to the latest statistics from Worldometers (as of June 12, 2021). The number continues to grow and the duration of the pandemic is still difficult to predict. The new coronavirus has sparked increased interest in robots, drones and artificial intelligence.
The global COVID-19 pandemic is having two effects on the robotics industry. First, it is driving the growth of professional service robots, which can help increase critical infrastructure staff and ease supply chain constraints. On the other hand, the market for industrial robots is hampered due to their dependence on the automotive and electrical / electronics industries. The markets for most types of service robots do not appear to be significantly affected by the COVID-19 pandemic. Robotic solutions support social distancing, are not quarantined, and are unaffected by travel bans. These technologies can help address massive staff shortages in healthcare, manufacturing and supply chains; the need for “social distancing”; and diagnosis and treatment. Following a slowdown in global demand for industrial robots due to the COVID-19 pandemic, it is expected that major suppliers of industrial robots will start receiving orders from 2021.
Industrial Robotics Market – Segment Analysis
On the basis of segment, the automotive industry accounted for the highest share of the industrial robotics market. About 28% of all industrial robot installations take place in the automotive industry. The industrial robotics market in the electrical and electronics industry is probably the most affected by the Sino-US trade crisis, as Asian countries (e.g. China, Japan, Republic of Korea) are leaders in the manufacture of electronic products and components. The metallurgical industry has seen an accelerated growth in adoption of industrial robotics in recent years. Unit shipments and revenue are expected to experience good growth over the forecast period. The chemical, rubber and plastics industry is the fourth largest market for the industrial robotics market, while the food industry accounted for the least share of the global industrial robotics market.
Main topics covered:
2. Impact of the coronavirus pandemic (COVID-19) on the robotics market
3. Global Robotics Market and Forecast (2009 – 2025)
4. Global Robotics Volume and Forecast (2009 – 2025)
5. Global Robotics Market Analysis and Volume Share
6. Global Industrial Robotics Market Share and Forecast
7. Global Service Robotics Market Analysis and Volume Share (2009 – 2025)
8. Global Industrial Robotics Market and Volume Forecast – By Segment (2009 – 2025)
9. Global Industrial Robotics Volume and Forecast – Distribution by Region and Country (2010 – 2025)
10. Global Professional Service Robotics Market and Volume Forecast – By Segment (2009 – 2025)
11. Global Personal and Home Service Robotics Market and Volume Forecast – By Segment (2009 – 2025)
12. Analysis of key players (2010 – 2025)
13. Global Robotics Market – Drivers of Growth
13.1 Increase in research and development expenditure
13.2 Technological trends shaping the future of robotics
13.3 Government initiatives stimulate the robotics market
13.4 Co-bots drive the robotics industry
13.5 Improved service, increased operational efficiency and safety
14. Global Robotics Market – Challenges
14.1 Challenges of human-robot interaction
14.2 High Cost of Robots Restricts Market Growth
14.3 Deferred return on investment (ROI)
For more information on this report, visit https://www.researchandmarkets.com/r/p8r2jb