Top Robotics Market by Industrial Robotics, Service Robotics - Global Forecast to 2022
13 February 2017
The market of top industrial robotics expected to grow at a significant rate during the forecast period
The industrial robotics segment of top robotics market is expected to grow at a CAGR of 11.92% between 2016 and 2022 to reach USD 79.58 billion by 2022. The major drivers for the top industrial robotics market is the increased adoption of automation and the growing demand for industrial robots from small- and medium-scale enterprises in developing countries. One of the major restraints for the growth of said market is the lack of skilled workforce to work in the automated manufacturing units.
"The top service robotics market expected to grow at a significant rate during the forecast period"
The service robotics segment of top robotics market is expected to grow at a CAGR of 15.18% between 2016 and 2022 to reach USD 23.90 billion by 2022. The increasing usage of robots across warehouse automation applications, medical and healthcare sectors, and education and research institutes; and short-to-medium-term payback period are some of the major factors driving the growth of the service robotics market worldwide. However, the growth of the market is expected to be hindered by high costs required for R&D, performance in untested environment, and lack of high-level interfacing.
"Articulated robots held the largest share of the industrial robotics market in 2015"
Articulated robots range from simple two-joint robots to complex ten-joint robots. The more joints an articulated robot has, the greater is its range of motion. Articulated robots held the largest share of the top industrial robotics market and the same trend is expected to continue in the near future. This growth of articulated robots is majorly attributed to the significant deployment of articulated robotic arms among diversified industrial applications, especially across automotive, and electrical and electronics industries.
"Market for service robotics in logistics estimated to witness the highest growth during the forecast period"
The logistics application held the largest share of the top service robotics market and is further estimated to grow at the highest rate during the forecast period.
The significant deployment of automated guided vehicles (AGVs) in manufacturing facilities and warehousing units is the key factor driving the growth of the service robotics market for the logistics application. Furthermore, the market for logistics robots in the nonmanufacturing sector is expected to grow at a higher rate than that in the manufacturing sector. The demand from the nonmanufacturing sector is mainly driven by the need for logistics at hospitals or in the healthcare sector to deliver medicine, food, and other supplies.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key people in the ecosystem of top robotics market. The breakdown of primary participants for the report has been shown below:
- By Company Type: Tier 1—50%, Tier 2—30%, and Tier 3—20%
- By Designation: C-level Executives—70%, Directors—20%, and Others—10%
- By Region: Americas—40%, Europe—35%, APAC—15%, and RoW—10%
The report profiles the key players in the top robotics market with their respective market ranking analysis. The major players in the top industrial robotics market include ABB Ltd. (Switzerland), KUKA AG (Germany), Mitsubishi Electric Corp. (Japan), Nachi-Fujikoshi Corp. (Japan), FANUC Corp. (Japan), Kawasaki Heavy Industries Ltd. (Japan), and Yaskawa Electric Corp. (Japan). Northrop Grumman Corporation (U.S.), iRobot Corporation (U.S.), DJI (China), Intuitive Surgical, Inc. (U.S.), Parrot SA (France), Honda Motor Co., Ltd. (Japan), Adept Technology, Inc. (U.S.), Aethon Inc. (U.S.), DeLaval International AB (Sweden), Lely Holding S.a.r.l. (Netherlands), and The LEGO Group (Denmark) are some of the key providers of service robotics segment of top robotics market.
This research report categorizes the top robotics market on the basis of type and vertical for top industrial robots, and on the basis of application segment for top service robots. The report describes market dynamics that include key drivers, restraints, challenges, and opportunities with respect to the top robotics market and forecasts the same till 2022.
The report would help leaders/new entrants in this market in the following ways:
1. This report segments the top robotics market comprehensively and provides the closest market size projection for all subsegments.
2. This report helps stakeholders understand the pulse of the market and provides them with the information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.
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