As per the latest report by IMARC Group, titled “Robotics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on global robotics market growth. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global robotics market reached a value of US$ 33.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 87.2 Billion by 2027, exhibiting a CAGR of 17.6% during 2022-2027.
Robotics is the interdisciplinary branch of artificial intelligence (AI) that studies the operation, design, manufacturing, etc., of robots. It involves various fields of computer science, electrical, and mechanical engineering. Robots are automatic, multifunctional, and re-programmable industrial machines embedded with numerous high-tech devices, such as audio, tactile, and visuals sensors. They perform several tasks automatically with intelligence, speed, accuracy, etc. The essential components of a typical robot are the control system, manipulators, body or frame, drivetrain, etc. Robots are utilized to perform tasks across various industries, including aerospace, automotive, healthcare, etc., while ensuring reduced errors, process automation, increased output levels, etc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Robotics Market Trends:
The introduction of high-quality and innovative product variants for use in warehousing, manufacturing, assembling, legged mobility, machine learning (ML), self-driving vehicles, etc., is primarily driving the robotics market. Besides this, organizations are increasingly investing in research and development (R&D) activities to confront the escalating risk of cybersecurity attacks, owing to the elevating integration of robots with internal data systems. This is further augmenting the global market. Furthermore, the rising utilization of surgical robots in the healthcare sector is acting as another significant growth-inducing factor. Apart from this, the growing demand for collaborative robots, which can operate alongside humans and are cheaper than their industrial counterparts, is expected to stimulate the robotics market over the forecasted period.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- ABB Group
- KUKA AG
- FANUC Corporation
- Yaskawa Electric Corporation
Robotics Market Segmentation:
Our report has categorized the market based on region and product type.
Breakup by Product Type:
- Industrial
- Service
At present, service robots are the most popular in the industry.
Regional Insights:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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