Vietnam Robotics Market to be dominated by Hardware segment through 2026
Rising demand from small and medium-sized enterprises and the
growing electrical and electronics industry are driving the growth of the
Vietnam Robotics Market in the forecast period, 2022-2026.
According
to TechSci Research report, “Vietnam Robotics Market By Component (Hardware
and Software), By Type (Articulated, Cartesian, SCARA, Cylindrical and Others),
By End User (Healthcare, Media & Entertainment, Aerospace & Defence,
Logistics, Automotive and Others), By Region, Competition Forecast &
Opportunities, 2026”,
the Vietnam Robotics market is expected to witness steady growth in the
forecast period, 2022-2026. The adoption of robots over a number of industries
including healthcare, defense, security, logistics, electronics, food and
beverage, automotive, inspection and maintenance are driving the demand of the
Vietnam Robotics market. The advantages associated with using robotic
technology are improved quality and increased production. It also reduces the
cost and helps in maintaining the quality in the production process. Robots
deliver services efficiently with less wastage and aids in enhancing the
protection of workers owing to their autonomous nature.
However,
the high initial cost and concerns for human safety due to technology failure may
restrain the Vietnam Robotics market growth in the forecast period.
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The
Vietnam Robotics market is segmented on the basis of component, type, end user,
competitional landscape, and regional distribution.
On the basis of the type, the Vietnam
Robotics market is divided into articulated, cartesian, SCARA, cylindrical, and
others. Articulated robots are the most common type of robot used in the
industrial setting. The articulated robots can be defined as a robotic arms
with rotary arms. Articulated robots allow the shift flexibility or rotate
parts during operation for various applications, including welding, material
handling, cutting, picking, sealing, spraying, and painting. Cartesian robots
are also called linear robots, and they are a type of industrial robot. The
three principal axes of control are linear, and they are at right angles to
each other. The three sliding joints aid in the wrist's movement up and down,
in-out, and back-forth. The significant advantage of using cartesian robots is
their capability of moving in multiple linear directions. They are easy to
program and can do straight-line insertion into the furnace. The axes of
cartesian robots are rigid at both ends. Therefore, the structure of the
cartesian robot is strong. SCARA stands for Selective Compliance Assembly Robot
Arm and is a type of industrial robot. SCARA robots are faster than cartesian
robots, and it provides an easy and unhindered type of mounting. The arm is
compliant in the X-Y direction and is rigid in the Z direction in the
parallel-axis joint layout of SCARA. SCARA consists of a joint two-link arm
layout similar to the human arms, which allows the arms to move in restricted
areas and fold up in the way. SCARA is used in transferring parts from one cell
to another or for the loading or unloading process. Cylindrical robots have
rotary joints for rotation and can perform angular motion around the joint
axis, and the rotary joint moves around the common axis in rotational motion.
Management of die-cast equipment and machine tools, spot welding, and assembly
process can be managed using cylindrical robots.
On the basis of the end user, the
Vietnam Robotics market is divided into healthcare, media & entertainment,
aerospace & defence, logistics, automotive, and others. The automotive
industry is expected to witness the fastest incremental growth in the next five
years. The rising disposable income of middle-class families is enabling them
to upgrade from two-wheeler vehicles to four-wheeler vehicles. Automobile major
manufacturers including Kia, Nissan, Ford, Honda, and Toyota in the country are
boosting the number of spare parts suppliers, which is expected to push the
growth of the automotive market in Vietnam. The large number of automotive
assembly and production projects pipelined in Vietnam are preparing the
automotive market to witness significant growth. The European Union Vietnam
Free Trade Agreement (EVFTA) is expected to create lucrative opportunities for
the automotive market growth. Based on the trade agreements, Vietnam is to
remove the tariff on EU exports once the agreement comes into force. The use of
robots in automobile manufacturing would reduce operational costs and eliminate
the need to hire human resources, which is expected to accelerate the growth of
the Vietnam Robotics market in the next five years.
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“Modernization of industrial spaces and
the increased production capacities, industries are actively adopting Robotics
solutions. The high demand for safety and automation from the organizations and
the presence of energy-efficient, affordable, and technologically advanced
robots fuel the demand for industrial robots. Market players are investing a
significant number of resources in developing advanced and energy-efficient
robots. They are increasing their production capacity to cater to the rising
demand from industry players. The growing use of robots for various purposes
and the ongoing research and development activities are expected to propel the
Vietnam Robotics market growth till 2026” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Vietnam Robotics Market By Component (Hardware and
Software), By Type (Articulated, Cartesian, SCARA, Cylindrical and Others), By End
User (Healthcare, Media & Entertainment, Aerospace & Defence, Logistics,
Automotive and Others), By Region, Competition Forecast & Opportunities,
2026”, has evaluated the future
growth potential of Vietnam Robotics market and provides statistics &
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 analyzes
the emerging trends along with essential drivers, challenges, and opportunities
in Vietnam Robotics market.
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