Robotics Technology Market by Size, Growth, Opportunity and Forecast to 2027

Global Robotics Technology Market is valued approximately at USD 63 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 15.8% over the forecast period 2020-2027. Robotics technology is used by different companies to develop machines that can replace humans and simulate human labor. Numerous advantages of robotics technology include safety at work, raising the speed of work and increasing the efficiency of the enterprise. In addition, numerous industries are implementing robotics technology to improve their productivity and profit margins, as robots can perform tasks more quickly.

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In addition, growing the need for automation and safety in the enterprise and availability of affordable, energy-efficient robots is driving the growth of the industry. Moreover, growing labor and energy costs and increasing the use of robotics technology in different vertical industries are fueling the growth of the industry. However, the high initial costs of robots and the lack of knowledge among SMEs hinder the growth of the industry. The automotive industry, which is the most important application field for industrial robots, has greatly increased investment in industrial robots worldwide. In April 2020, BMW AG signed an agreement with KUKA to supply about 5,000 robots for new production lines and factories around the world. According to KUKA, industrial robots will be used worldwide at the foreign manufacturing sites of the BMW Group to produce current and future vehicle models. Various robot models are intended to be used mainly for body-in-white production and other technologies. The scope of the agreement also includes other creative items from the KUKA portfolio, such as its linear units used to improve the robot’s workspace and energy supply technology. Technological advances in perception, interaction and manipulation have made robotics more attractive. Software and other suppliers of components have been instrumental in pushing the robotic ecosystem forward. In December 2019, Soft Robotics announced a strategic alliance with Fanuc, which invested USD 23 million in Soft Robotics as a startup in the oversubscribed funding round. The transformative mGrip modular grip system and automation solutions of Soft Robotics have allowed the efficient implementation of robotic applications in highly variable and unstructured consumer goods manufacturing, food processing and packaging and e-commerce supply chain automation environments.

The regional analysis of global Robotics Technology Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Due to the significant adoption of industrial robotics in the region, Asia-Pacific is projected to have the highest growth rate in the forecast period. China is dominating the regional pace of robotics adoption as a result of rapid deployment in the country’s leading electronics and automotive manufacturing sectors. As these sectors are growing at a fast pace in other economies in the region, such as India, there is a great potential for business growth.

Major market player included in this report are:

ABB Ltd

Yaskawa Electric Corporation

Denso Corporation

Fanuc Corporation

Kuka AG

Kawasaki Heavy Industries Ltd

Toshiba Corporation

Panasonic Corporation

Staubli International AG

Nachi Robotic Systems Inc.

Yamaha Motor Co. Ltd

Seiko Epson Corporation

Comau SpA

Adept Technologies Inc.

Intuitive Surgical Inc.

Stryker Corporation

Maxar Technologies Ltd (Mda Corporation)

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:

Industrial Robots

Service Robots

Mobile Robots

Others

By Component:

Hardware

Software

Services

By Application:

Healthcare

DA(C)fense and Security

Aerospace

Automotive

Electronics

Domestic

Others

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

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