Robotics Market to Grow at a CAGR of 4.91 % until 2026
Increase
in the demand for automated systems and safety concerns for different online
platforms to boost the global robotics market through 2026.
According to
TechSci Research report, “Global
Robotics Market By Component (Hardware
and Software), By Type (Articulated, Cartesian, SCARA, Cylindrical and Others),
By End User (Healthcare, Media & Entertainment, Aerospace
& Defense, Logistics, Automotive and Others), By Region, Competition,
Forecast & Opportunities, 2016-2026’’, the Global Robotics Market is
projected to cross USD68.246 billion by 2026 at a CAGR of 4.91%, on account of the
growing demand
for robotic systems in defense for unmanned missions and the developing
research activities linked with new robotic product launches. Moreover, the growth in the usage
of robotic procedures in the healthcare sector for assisting with surgeries,
public relationships, personnel care, etc. will positively influence the Global
Robotics Market
in the upcoming years.
Browse 107 Figures spread
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The Global Robotics Market can be segmented based on component, type, end-user
and region. In terms of component, the market can be branched into hardware and
software. The software segment has a market share of 50.77%
in 2020 due to the high demand for
different automation and simulations in the healthcare, defense, security and
education sectors in growing economies. The increase in the use of robotic
systems with the growth of new Artificial Intelligence (AI) technology across
the world is driving the software segment of the Global Robotics Market.
On the basis of type, the market is segmented into articulated, cartesian,
SCARA, cylindrical and others (spherical, delta, parallel, etc.). The articulated
segment has 55.56% of the market shares in 2020 owing to more degrees of
freedom than other robot types. This robotic system is designed to mimic the
human arm, thus positively shaping their growth in the Global Robotics Market.
Based on End User, the market can be bifurcated
into healthcare, media & entertainment,
aerospace & defense, logistics, automotive and others (food & beverages,
electronics, machinery, etc.). The healthcare segment accounts for the largest
market share of 32.18% due to the increase in demand for the accuracy,
precision and remote treatments, mainly after the COVID-19 pandemic.
In the Global Robotics Market, Asia-Pacific
is the largest contributor with 35.27% of market shares in 2020. China is the largest
contributing country in the region for the forecasted period, followed by South
Korea, Japan, India and Australia. Being the world’s largest robotics
manufacturers and exporter, China’s growing urbanization and research
technologies are contributing to the country’s leading market position. Meanwhile, India is at fourth position after South Korea and Japan in terms of manufacturing
robots and is growing at a quicker pace as the research and development sectors
are emerging in the upcoming years.
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Sony Corporation, Midea
Group Co. Ltd., Honda Motor Co. Ltd, Siemens AG, DENSO Corporation, Rockwell
Automation Inc., KION Group AG, Seiko Epson Corporation, Yamaha Motor Co. Ltd.,
ABB Ltd., etc. are among the leading players operating in Global Robotics
Market. Companies operating in the market are using organic strategies, partnerships
and collaborations to boost their shares in Global Robotics Market. Significant
players in the market are concentrating on accomplishing ideal operational
expenses, upgrading the system efficiency, enhancing precision in responses,
boosting productivity with high funding in R&D, and merging with small
players to support in the competitive robotics market.
“Increasing technological
advancements across major developed as well as developing countries coupled
with an increasing demand for simulation and automation systems across the
globe are boosting the Global Robotics Market. The need for manufacturing of
miniature, inexpensive and energy efficient robotics solutions for a wider
consumer base is a boosting factor for the market globally. Moreover, growing
innovation in the design of robotics systems has also been positively
influencing the market with a continuous urge for launching new products in the
upcoming years.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Robotics Market By Component
(Hardware and Software), By Type (Articulated, Cartesian, SCARA, Cylindrical
and Others), By End User (Healthcare, Media & Entertainment, Aerospace
& Defense, Logistics, Automotive and Others), By Region, Competition,
Forecast & Opportunities, 2016-2026’’ has
evaluated the future growth potential of Global Robotics Market by providing
the statistics and information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyses the emerging trends along with essential drivers,
challenges and opportunities in the Global Robotics Market.
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TechSci Research
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