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The Robotics Industry is set to experience revolutionary growth in near future

Published : 24 May, 2018

Robotics is broadly classified as industrial robots and service robots with the industrial robotics sector holding the major share. Global competition requires continuous modernization of production facilities. Energy-efficiency and using new materials require continuous retooling of production. Growing consumer markets require expansion of production capacities. Industry 4.0, linking the real-life factory with virtual reality, will play an increasingly important role in global manufacturing.

The construction industry is one of the automated industries that feature manual-intensive labor as a primary source of productivity. There are a few different types of construction robots that are poised to break into the construction market at a mass scale. First is a 3D-printing robot that can build large buildings on demand. This technology is also beginning to be used for building bridges, with the first ever 3D printed bridge recently being built in the Netherlands. There are also construction robots for brick-laying and masonry, and even robots that lay an entire street at one time. These types of robots dramatically improve the speed and quality of construction work.

Since 2010, the demand for industrial robots has accelerated considerably due to the continuing trend toward automation and the continued innovative technical improvements of industrial robots. It has been led by top manufacturers from Japan and Europe and is paving the way for non-industrial robots, like customer service robots, personal assistant robots, autonomous vehicles, and unmanned aerial vehicles (UAVs).

The Global Robotics Market is expected to reach USD XX Billion by 2023 from USD XX Billion in 2017, at a CAGR of XX% from 2018 to 2023. One of the major factors driving the Robotics market is that different companies are planning to make their manufacturing process smarter and efficient so as to have a significant advantage over the traditional methods.

The market is analyzed across four geographical regions, namely, North America (U.S., Canada and Mexico), Europe (UK, Germany, France and rest of Europe), Asia-Pacific (China, Japan, India and rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa). Asia Pacific holds the highest market about XX% of total market share. Whereas North America is the fastest growing region with the CAGR of XX%.

Automation is increasingly becoming the buzzword across labor-intensive industries that are grappling with rising labor costs and lack of skilled workforce issues. This has pushed the adoption of robotic technology to automate operations. Industrial robots, for instance, are deployed in manufacturing and production settings to perform an array of programmed tasks. The Robotics market is segmented on the basis of By Component, by Type, and Vertical Industry and by region. There are three types of components that we have considered viz. Software, Hardware and Services. Software holds the largest market share in 2017.

The global robotics market by type is segmented as Automotive Robot, Mobile Robot, Industrial Robot, Service Robot and Others of which automotive robot holds the largest market share in 2017. Robotics market by Vertical Industry covered in this report include Logistics, Automation, construction, Aerospace & Defence, Electronics, Healthcare, Agriculture and others (Domestic, Transportation, and Entertainment). Logistics hold the largest share of about XX% of market Transportation is the fastest growing with the CAGR of XX% in the forecasted period.

There are various regulatory bodies actively looking after company rules & regulations for addressing Farming policies BARA (British Automation and Robot Association), American National Standards Institute (ANSI) and Robotic Industries Association are some of the biggest influencing regulatory bodies at global and at regional level.

 

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