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Robotics Market Size, Share, Growth & Industry Trends [2031]

Robotics Market

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Segments - by Types (Industrial and Service) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

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Raksha Sharma

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Report Description

Robotics Market Outlook

The global robotics market size was valued at USD 23.67 billion in 2020 and is expanding at a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to technological advances in cognition, interaction, and manipulation.

Robots, drones, and artificial intelligence have all sparked interest as a result of the new coronavirus. These technologies will aid in the alleviation of severe personnel shortages in healthcare, manufacturing, and supply chains, as well as the requirement for 'social distance,' as well as diagnosis and treatment. In healthcare, for example, service robots play a critical role in decreasing human interaction at all levels, from patient inspection through patient care and medicine administration.

The outbreak provided an excellent chance for businesses to demonstrate robots for public use. The pandemic's primary components are public relations, rescue and security, cleaning, inspection, monitoring, and detection. Since the emergence of the COVID-19 pandemic, disinfection robot UVD has been in great demand.

According to the World Robotics Report 2019, the Republic of Korea has a new record stock of over 300,000 operating industrial robots in 2018. South Korea has quadrupled its robot population in only five years. In 2018, the country came in third place, after China and Japan. However, in recent years, the dynamics of robot installations have dropped, and this trend is likely to continue in 2019.

South Korea, on the other hand, is impacted by the US-China trade war, which might have both positive and bad consequences: For Korea's intermediate products, China is a well-known export destination. China's demand is likely to drop as a result of the dispute. Korean items, on the other hand, may be used to replace some Chinese ones.

According to the Japanese Ministry of Internal Affairs and Communications, about 36.2 million people would be 65 or older in 2020. This encourages businesses to invest in items for the region's senior citizens. With an ageing population, the government is increasingly seeking robotics and artificial intelligence (AI) to assist caregivers in nursing facilities in caring for the elderly. Paro (baby seal), for example, is a robot that is meant to cure illnesses like Alzheimer's.

Robotics Market Trends, Drivers, Restraints, and Opportunities

Growing applications of robots like personal assistants, surgical assistants, delivery vehicles, autonomous cars, exoskeletons, and crewless aerial aircraft are estimated to drive market growth in the coming years.
Increasing investments in the automotive industry are anticipated to push the market expansion during the forecast period.
Rapid growth of technology enables developers to create novel goods while still ensuring that they are affordable, which in turn is boosting the market growth.
High cost of the initial investment in procurement, integration, programming, accessories, and maintenance is projected to hinder the market growth.

Scope of Robotics Market Report

The report on the global robotics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Robotics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2020
Historic Data	2018–2019
Forecast Period	2021–2028
Segmentation	Types (Industrial and Service)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	ABB Ltd., Denso Corporation, Fanuc Corporation, KUKA AG, Kawasaki Robotics (Kawasaki Heavy Industries, Ltd.), Mitsubishi Electric Corporation, OMRON Corporation, Seiko Epson Corporation, Stäubli International AG, and Yaskawa Electric Corporation

Robotics Market Segment Insights

Service segment is projected to account for a major market share

On the basis of types, the global robotics market is segregated into industrial and service. The service segment is expected to account for a key share of the market during the forecast period owing to factors such as the ageing population and a scarcity of healthcare personnel. In addition, because of the rise of omnichannel shopping, distribution centres and logistics warehouses must adapt their systems to handle both pallets and packaging meant for retail shelves and pick and pack a wide range of products for direct shipment to individual customers.

Asia Pacific is anticipated to dominate the market
On the basis of regions, the global robotics market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia Pacific is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to the ageing population of nations such as Japan and China are propelling usage in the medical technology industry.

Moreover, Asia-Pacific is anticipated to expand at the fastest rate throughout the forecast period, owing to the widespread use of industrial robots in the area. Due to huge deployment in the country's dominant electronic and automobile manufacturing industries, China is leading the regional adoption rate of robots.

Segments

The global robotics market has been segmented on the basis of

Types

Industrial
Service

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

ABB Ltd.
Denso Corporation
Fanuc Corporation
KUKA AG
Kawasaki Robotics (Kawasaki Heavy Industries, Ltd.)
Mitsubishi Electric Corporation
OMRON Corporation
Seiko Epson Corporation
Stäubli International AG
Yaskawa Electric Corporation

Competitive Landscape

Key players competing in the global robotics market include ABB Ltd., Denso Corporation, Fanuc Corporation, KUKA AG, Kawasaki Robotics (Kawasaki Heavy Industries, Ltd.), Mitsubishi Electric Corporation, OMRON Corporation, Seiko Epson Corporation, Stäubli International AG, and Yaskawa Electric Corporation.

Yaskawa Motoman introduces the HC20XP collaborative robot in March 2020. The 20 kg payload HC20XP collaborative robot, which comes with hand-guided instruction for robot system installation, is ideal for situations where robots must operate securely or near to humans. The IP67-rated collaborative robot is designed to work in wet or splash-prone situations for extended periods. This type is made of cast aluminum and has a surface that is suited for use in hygienic situations where wiping or washing is necessary.

Robotics Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Robotics Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Robotics Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Robotics Market - Supply Chain
  4.5. Global Robotics Market Forecast
     4.5.1. Robotics Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Robotics Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Robotics Market Absolute $ Opportunity
5. Global Robotics Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Robotics Market Size and Volume Forecast by Types
     5.3.1. Industrial
     5.3.2. Service
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Robotics Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Robotics Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Robotics Demand Share Forecast, 2019-2026
7. North America Robotics Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Robotics Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Robotics Market Size and Volume Forecast by Types
     7.4.1. Industrial
     7.4.2. Service
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Robotics Demand Share Forecast, 2019-2026
8. Latin America Robotics Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Robotics Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Robotics Market Size and Volume Forecast by Types
     8.4.1. Industrial
     8.4.2. Service
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Robotics Demand Share Forecast, 2019-2026
9. Europe Robotics Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Robotics Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Robotics Market Size and Volume Forecast by Types
     9.4.1. Industrial
     9.4.2. Service
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Robotics Demand Share Forecast, 2019-2026
10. Asia Pacific Robotics Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Robotics Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Robotics Market Size and Volume Forecast by Types
     10.4.1. Industrial
     10.4.2. Service
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Robotics Demand Share Forecast, 2019-2026
11. Middle East & Africa Robotics Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Robotics Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Robotics Market Size and Volume Forecast by Types
     11.4.1. Industrial
     11.4.2. Service
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Robotics Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Robotics Market: Market Share Analysis
  12.2. Robotics Distributors and Customers
  12.3. Robotics Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. ABB Ltd.
     12.4.2. Denso Corporation
     12.4.3. Fanuc Corporation
     12.4.4. KUKA AG
     12.4.5. Kawasaki Robotics (Kawasaki Heavy Industries, Ltd.)
     12.4.6. Mitsubishi Electric Corporation

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