The global robotics market has been predicted in a report by Transparency Market Research (TMR) to be dominated by some leading players, including iRobot Corporation, FANUC Corporation, Clearpath Robotics, Inc., Barrett Technology LLC, and John Deere. For maintaining its competitive edge, FANUC has been constantly focusing on research and development. New products such as M-710iC/45M, M-710iC/12L, and CR-35iA were introduced in 2015. For every line of product comprising of RoboMachines, robots, and factory automation (FA), the company has set up business divisions as a strategy against the slow recovery of certain geographical markets.
As per TMR's research, a revenue valuation of US$154.30 bn has been foretold to be collected by the global robotics market in 2025 at a CAGR of 15.5% expected to be registered between 2017 and 2025. In 2017, the market had achieved a US$44.13 bn. In terms of type, static robotics could retain its colossal share by the end of 2025. Regionally, Asia Pacific has been projected to capture a larger revenue of US$65.21 bn by the final forecast year.
Defense Propels Demand for Accurate and Advanced Unmanned Aerial Vehicles
The world robotics market has been envisaged to be advantaged by heavy investments made by defense forces around the globe to develop unmanned aerial automobiles. The rapid increase in the demand rate for technologically advanced unmanned aerial automobiles in the defense industry could be due to their surveillance, bombing, and image capturing applications. Military drones boast of reduced collateral damage and improved accuracy of their missiles than other weaponries.
The implementation of robotics has risen at an aggressive pace in different industries over the recent years. With a view to service patients efficiently, robotic technologies have been adopted significantly by hospitals as well as healthcare solution companies. Robotic technologies could efficiently manage various medical operations and demonstrate enhanced accuracy. Gaining an increase in emerging nations, the demand for robotic surgery has been envisioned to exhibit a telling growth in developed nations.
The world robotics market has been foreseen to gain a strong impetus on the back of a boosted demand for industrial robots on account of their impressive workspace efficiency. Without the need to modify the layout of factories and warehouses, industrial robots could move capably within the facilities. Moreover, they could replan their routes should there be any obstacles in the facilities.
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Commercialization and Cost Issues Discourage Investment in Robotics
High initial and maintenance cost and expensive cost of procurement have been prognosticated to hinder the growth of the international robotics market. Another challenge for vendors of robotics could be completing a prototype into a commercial robot. Investors complain of dead investments owing to the long time required to commercialize products and issues related to the self-calibration, parameterization, and modelling of robots.
However, the continuing research to develop collaborative robots has been prophesied to create opportunities in the international robotics market. Collaborative robots could analyze human instruction and work alongside humans. Such robots could prove to be highly beneficial for warehouse and factory automation and find application in various industries, viz. medical, manufacturing, and defense.
The information presented in this review is based on a TMR report, titled "Robotics Market (Type - Mobile Robotics, Exoskeleton, and Static Robotics; Application -Logistics, Personal, Last Mile Mobility, Military, Agriculture, Construction/mining, Medical, Entertainment, and Research; Component - Sensors, Control Units, Actuators, Brake Systems, and Vision Systems) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025."
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The global robotics market has been segmented as presented below:
Global Robotics Market: By Type
- Mobile Robotics
- Exoskeleton
- Static Robotics
Global Robotics Market: By Application
- Logistics
- Personal
- Last Mile Mobility
- Military
- Agriculture
- Construction/Mining
- Medical
- Entertainment
- Research
- Automotive, Aerospace, and Food Processing
Global Robotics Market: By Component
- Sensors
- Control Units
- Actuators
- Brake Systems
- Vision Systems
- Manipulators, End Effectors, and Power Supply
Global Robotics Market: By Geography
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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