Global Robotics (Industrial and Service ) Market to 2024 - Co-Bots Drives Robotics Industry
DUBLIN, Nov. 13, 2018 /PRNewswire/ --
The "Global Robotics Market and Volume (Industrial and Service Robotics), Key Players Analysis - Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Global Robotics Market is expected to register a CAGR of 14% over the forecast period of 2018-2024
The demand for robotics is anticipated to grow exponentially during the forecast period driven by advantages such as cost reduction, improved quality, increased production, and improved workplace health and safety.
The adoption of robots across a wide range of industries including manufacturing, healthcare, defense and security, automotive, electronics, and food and beverage has accelerated the growth of the market. Robots deliver better quality products and services more efficiently, with less wastage and without causing physical damage to humans due to their autonomous nature. They help to reduce operating costs, while increasing production output.
The increasing use of robotics will boost the growth of the market in the coming future.
Industrial Robotics Market Overview
The global industrial robotics market was valued at just over US$ 16 Billion in 2017, and is likely to grow at a double digit CAGR between 2018 and 2024. The demand for industrial robotics is anticipated to grow exponentially during the forecasting period driven by advantages such as cost reduction, improved quality, increased production, and improved workplace health and safety.
The adoption of automation to ensure quality production and meet market demand, and the growing demand from small- and medium-scale enterprises in developing countries is fueling the growth of industrial robotics market globally.
Industrial Robotics Market Segment Analysis
- The automotive industry accounted for highest share of the industrial robotics market in 2017, followed by electrical and electronics segment.
- The market for industrial robotics in the electrical and electronics industry is expected to grow at double digit CAGR between 2018 and 2024.
- The metal industry is the third largest market for industrial robotics.
- Chemical, rubber and plastics industry is the fourth largest market for industrial robotics market, while food industry accounted for least share of the global industrial robotics market.
Industrial Robotics Market Regional Analysis
- In terms of region, the five major markets including China, South Korea, Japan, United States, and Germany accounts for around 73% of the total robotics sales volume in 2017.
- Asia/Australia is the world's largest market for industrial robots, driven by growing demand for industrial robots from small- and medium-scale enterprises in China, Japan, South Korea, and India.
- Europe is the second leading region for industrial robotics market, followed by the Americas at the third spot.
Note: The market value figures cited in this report for industrial robotics generally do not include the cost of software, peripherals and systems engineering. Including the mentioned costs might result in the actual robot systems' market value to be about three times as high.
Service Robotics Market Overview
The global service robotics market was valued at over US$ 9 Billion in 2017. Service robots have witnessed widespread acceptance among various professional and personal applications owing to benefits such as enhanced usability, delivery of accurate and high-quality services, reliability, and reduced operational costs and human errors.
Professional service robots are employed in various industries including medical, defense, rescue and security, agriculture, logistics, construction, and professional cleaning among others, whereas personal service robots are used for domestic and entertainment and leisure purpose.
The global service robotics market is expected to almost triple by 2024 from the 2017 level, driven by an upsurge in its adoption owing to high labor cost, lack of skilled workforce, increasing research and development investments, growing awareness regarding the benefits of service robots, and increased demand for automation among professional and personal sectors. However, high initial investment and concern for human safety restricts the growth of the market.
Service Robotics Market Segment Analysis
- The global professional service robotics market was valued at close to US$ 7 Billion in 2017.
- In 2017, logistic application was the major industry vertical, in terms of market share, followed by medical applications.
- Agriculture/field robots controlled over 14% share of the professional service market in 2017.
- In volume terms, the logistic robots accounted for maximum share of the overall professional service robotics volume in 2017.
- The medical robots accounted for single digit share of the professional service robotics volume in 2015, due to expensive nature of these devices.
- Household robots accounted for maximum share of the personal and domestic service robotics market in 2017.
Key Topics Covered:
1. Executive Summary
2. Global Robotics Market and Forecast (2009 - 2024)
2.1 Global Industrial Robotics Market and Forecast
2.2 Global Service Robotics Market and Forecast
3. Global Robotics Volume and Forecast (2009 - 2024)
3.1 Global Industrial Robotics Volume and Forecast
3.2 Global Service Robotics Volume and Forecast
4. Global Robotics Market and Volume Share Analysis
4.1 Global Robotics Market Share and Forecast - By Type (2009 - 2024)
4.2 Global Robotics Volume Share and Forecast - By Type (2009 - 2024)
5. Global Industrial Robotics Market Share and Forecast
5.1 Global Industrial Robotics Market Share and Forecast - By Segment (2009 - 2024)
5.2 Global Industrial Robotics Market Share and Forecast - By Region (2010 - 2024)
6. Global Service Robotics Market and Volume Share Analysis (2009 - 2024)
6.1 Global Service Robotics Market Share and Forecast - By Segment
6.2 Global Professional Service Robotics Market Share and Forecast - By Segment
6.3 Global Personal and Domestic Service Robotics Market Share and Forecast - By Segment
6.4 Global Service Robotics Volume Share and Forecast - By Segment
6.5 Global Professional Service Robotics Volume Share and Forecast- By Segment
6.6 Global Personal and Domestic Service Robotics Volume Share and Forecast- By Segment
7. Global Industrial Robotics Market and Volume Forecast - By Segment (2009 - 2024)
7.1 Global Automotive Industry Robotics Market and Volume Forecast
7.2 Global Electrical/Electronics Industry Robotics Market and Volume Forecast
7.3 Global Metal Industry Robotics Market and Volume Forecast
7.4 Global Chemical, Rubber and Plastics Industry Robotics Market and Volume Forecast
7.5 Global Food Industry Robotics Market and Volume Forecast
7.6 Global Others Industry Robotics Market and Volume Forecast
7.7 Global Unspecified Industry Robotics Market and Volume Forecast
8. Global Industrial Robotics Volume and Forecast - By Region and Country Wise Distribution (2010 - 2024)
9. Global Professional Service Robotics Market and Volume Forecast - By Segment (2009 - 2024)
9.1 Global Defense Robotics Market and Volume Forecast
9.2 Global Agriculture/Field Robotics Market and Volume Forecast
9.3 Global Logistic Robotics Market and Volume Forecast
9.4 Global Medical Robotics Market and Volume Forecast
9.5 Global Construction Robotics Market and Volume Forecast
9.6 Global Mobile Platforms Robotics Market and Volume Forecast
9.7 Global Inspection Robotics Market and Volume Forecast
9.8 Global Underwater Robotics Market and Volume Forecast
9.9 Global Rescue and Security Robotics Market and Volume Forecast
9.10 Global Cleaning Robotics Market and Volume Forecast
9.11 Global Exoskeleton Robotics Market and Volume Forecast
9.12 Global Public Relation Robotics Market and Volume Forecast
9.13 Global All Others Robotics Market and Volume Forecast
10. Global Personal and Domestic Service Robotics Market and Volume Forecast - By Segment (2009 - 2024)
10.1 Global Household Robotics Market and Volume Forecast
10.2 Global Entertainment and Leisure Robotics Market and Volume Forecast
11. Key Player Analysis (2010 - 2024)
11.1 KUKA AG
11.2 Adept Technology (Acquired by OMRON)
11.3 iRobot Corporation
11.4 Intuitive Surgical
11.5 Nachi-Fujikoshi
11.6 Yaskawa Electric Corporation
12. Global Robotics Market - Growth Drivers
12.1 Growing Research and Development Expenditure
12.2 Technology Trends Shaping the Future of Robotics
12.3 Government Initiatives Drives Market for Robotics
12.4 Co-Bots Drives Robotics Industry
12.5 Improved Service, Increased Operational Efficiency and Safety
13. Global Robotics Market - Challenges
13.1 Human-Robot Interaction Challenges
13.2 The High Cost of Robots Restricts Market Growth
For more information about this report visit https://www.researchandmarkets.com/research/xhk59j/global_robotics?w=5
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