Published on : Nov 14, 2017
Albany, New York, November 14, 2017: 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. In the present time, the implementation of robotic technology in almost every industry across the globe has led them to grow at huge pace. A new study titled, “Robotics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025” has been freshly broadcasted to the wide repository of Market Research Hub (MRH), which finds that the global robotics market is likely to collect a revenue valuation of US$147.26 bn by 2025 at a CAGR of 17.4% for the forecast period of 2017 to 2025.
Robotics technology is a combination of machine, tools and computer applications used for numerous activities including designing, manufacturing and other applications. In the recent past, it has been analyzed that robots are also being implemented in the medical science and healthcare solutions. Due to their enhanced accuracy and efficiency in handling various operations in medical sector, the healthcare solution companies, as well as hospitals, are adopting these robotic technologies heavily, in order to serve the patients in highly efficient manner. Some of the major applications, where robotics are being implemented include Logistics, Personal, Construction/Mining, Last Mile Mobility, Agriculture, Entertainment, Military, Research and others.
In the initial section, the report describes the scope of the analysis along with the current market overview of robotics. The subsequent section also includes five forces analysis and present details on market segmentation. Moreover, the study also highlights the drivers, restraints, and opportunities expected to influence market’s growth during the forecast period. The demand for industrial robots is growing significantly, as they are capable of moving inside the warehouse and factories without modifying layout. The above factors are boosting the demand for such robots during the forecast period.
Moving further, the overall market has been analyzed on the basis of various parameters such as types, application, components, and geography. The key highlights of the study based on this market segmentation include,
- The logistics segment has developed as a significant application of robotic products and is anticipated to continue as the prominent application segment in the next couple of years.
- Major types include mobile robotics, exoskeleton, and static robotics. Amongst, the demand for mobile robotics is expressively growing across the globe and due to this, the segment is anticipated to be the fastest expanding segment over the period from 2017 to 2025, both in terms of revenue and volume consumed. In 2016, the static robotics dominated the robotics market which is expected to retain its dominance.
- The components segment in the global robotics market includes sensors, control units, actuators, brake systems, vision systems and others. With the increasing demand for enhanced sensing capabilities of robots, sensors are anticipated to display noteworthy growth over the forecast period.
- From a geographical perspective, Asia Pacific held the leading share in the robotics market in 2016 and is anticipated to rise at a significant rate over the forecast period.
In order to provide users of this report with comprehensive view of the market, analysts have included detailed competitiveness analysis and company players with their SWOT analysis and strategic overview. The major manufacturers includes Barrette Technology LLC, Swisslog, John Deere, Fanuc Corporation, Honda Motor Co. Ltd., Boeing, Google Inc., Lowe’s, Fanuc Corporation, Northrop Grumman Corporation, Amazon, Locus Robotics , Clearpath Robotics Inc., iRobot Corporation, Kuka AG, Bossa Nova Robotics, Seegrid Corporation, Savioke, Fetch Robotics, Aetheon Inc. and Omron Adept Technologies among others.
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