Robotic Situational Awareness Features Will Help Drive Robotics Market Over $29 billion in 2018
FARMINGTON, Conn., March 1, 2013 /PRNewswire-iReach/ -- The economics of the global robotics sector has slowed in the past several years due to transnational upsets in the global financial community but the industry remains a substantial and growing enterprise. There have been two clear signals that a fundamental change in the industry has begun. The first of those signals is the rapidly accelerating pace of innovation. During 2012, the number of U.S. patent filings that referenced robots in their abstracts rose sharply, to an average of nine per week, twice the number of that during the industry's first 30 years. The second signal is contained in the nature of the ideas protected by those patents. A large number of the more than 700 inventions patented since 2011 individually describe methods for improving a robot's ability to recognize and interact with its surroundings. In other words, these are the inventions that will give robots "situational awareness," a dynamic "sense of place" that allows truly autonomous operation.
Situational awareness is the single most critical quality required by a robot before it can safely work alongside humans not as a tool, but as a partner. In the broader sense, a robot's acquisition of situational awareness also marks the transition moment for the industry, when robotics steps beyond being a sustaining technology and enters the realm of disruptive technologies, with the promise and uncertainty that such an advance implies.
In a new research study by BCC Research,"Robotics: Technologies and Global Markets," the market for whole robots, robot parts, robot software, and related safety materials now approaches $22 billion. The report forecasts that this value will rise at a five-year compound annual growth rate (CAGR) of 5.9% between 2013 and 2018, when it's expected to surpass $29 billion.
According to the report, the bulk of the growth in the European Union is anticipated to be concentrated in the latter part of the forecast period, when robotic development initiatives now being undertaken on an EU-wide basis will result in commercialized products. The distribution of growth among different types of robots also reflects a profoundly different approach in the EU toward encouraging the development of the industry than that in the North American market. The chief difference is an EU-wide emphasis on creating a new class of robots that can safely work in near proximity to humans and safely perform personal-care tasks that will be increasingly required as the European population ages.
In the oil and gas industry, companies are relying more heavily on automation and control technologies to increase productivity, reduce costs and improve their safety standards. By remote monitoring and control technologies companies are able to prevent hazardous situations and improve their health and safety standards.
According to a report by Visiongain,"The Oil & Gas Automation & Control Systems Market 2013-2023", the value of the global oil and gas automation and control system market will reach $8.63 billion in 2013. The report looks into opportunities that this market offers and its application to various industries that have use for automation systems. It examines various factors that are stimulating industries to implement advanced control technologies to improve safety and efficiency.
While increasing demand for oil and gas is creating the need for technologically advanced control systems for monitoring and controlling different activities in order to increase production efficiency, the same trend is also happening in the manufacturing world. An increase in manufacturing activities in Asia Pacific and Middle East countries is expected to contribute to the growing demand for distributed control system (DCS) solutions across different end use industries. Increasing investments in oil and gas, chemicals, petrochemicals, power generation, and water and waste-water industry among others is driving the demand for distributed control systems in regional markets.
"Distributed Control Systems Market - Global Industry Analysis, Size, Share, Trends And Forecast, 2012 – 2018" is a new study by Transparency Market Research that analyzes the market based on major component type, applications of DCS in end user industry and major geographies. The report also provides market shares and analysis of the leading players in the distributed control systems market.
Leading companies profiled in this study include ABB Ltd., Siemens AG, Emerson Electric Co., Invensys Plc, Honeywell International Inc., GE Electric, Yokogawa Electric Corp, Toshiba International Corp, Bharat Heavy Electrical Ltd., and Rockwell Automation Inc.
Find more market research for the automation and robotics industry
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