Robotics Market to grow by USD 22.2697 billion from 2022 to 2027; Stringent health and safety regulations to drive market growth - Technavio

NEW YORK, Aug. 18, 2023 /PRNewswire/ -- The global robotics market size is estimated to increase by USD 22,269.7 million from 2022 to 2027. The market's growth momentum will progress at a CAGR of 7.71% during the forecast period. Discover some insights on market size historic period (2017 to 2021) and forecast market data (2023 to 2027) before buying the full report -Request a sample report

Robotics market – Company Analysis
Company Landscape - The global robotics market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer robotics in the market are ABB Ltd., Clearpath Robotics Inc., Cyberdyne Inc., DENSO Corp., FANUC Corp., GEA Group AG, Honeywell International Inc., Intuitive Surgical Inc., Kawasaki Heavy Industries Ltd., KION GROUP AG, L3Harris Technologies Inc., Lely International NV, MIDEA Group, OMRON Corp., Relay Robotics Inc., SMP Robotics Systems Corp., Teradyne Inc., The Boeing Co., Zebra Technologies Corp., and Irobot Corp. and others.

What's New? -

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

Company Offerings -

• ABB Ltd. - The company offers robotics products such as articulated robots and collaborative robots.
• Clearpath Robotics Inc. - The company offers robotics products such as Warthog UGV, Husky UGV, Dingo, and Boxer.
• Cyberdyne Inc. - The company offers robotics products such as the MB-CL02.
• For details on the company and its offerings – Request a sample report

Robotics Market - Segmentation Assessment
Segment Overview

This robotics market report extensively covers market segmentation by application (industrial and services), end-user (manufacturing, healthcare, aerospace and defense, media and entertainment, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America).

• The market share growth of the industrial segment will be significant during the forecast period. This growth is due to its use in various industrial applications such as material handling, assembly and disassembly, welding and brazing, cutting, deburring, grinding, painting, sealing, bonding, and clean room applications. The market players have placed increasing emphasis on improving production efficiency, operational excellence, and competitive advantage in a highly competitive scenario. Companies in the market increasingly turn to robotics to reduce costs and lead times, reduce human interaction to improve safety and increase production throughout. Hence, such factors improve segment growth during the forecast period.

Geography Overview
By geography, the global robotics market is segmented into APAC, Europe, North America, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global robotics market.

• APAC is estimated to account for 49% of the global market growth during the forecast period. Some of the factors for the growth in the region include government initiatives, increasing demand for locally manufactured vehicles, and a strong manufacturing sector. Automakers in countries such as China and India are investing more in manufacturing plant automation solutions to improve productivity and reduce cycle times. This gives them a competitive advantage over other players. Thus, the demand for robots will increase, as manufacturers adopt robotics and automation to address shortcomings from outdated equipment and technology, unstable production, and reliance on manual labor.

For insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 - Download a Sample Report

Robotics Market – Market Dynamics
Leading Drivers - 

• The robotics market is driven by major factors such as stringent health and safety regulations during the forecast period.
• The robotics industry adopts safety material handling equipment as a result of the need for personal safety and the reduction of work-related injuries. Industries such as automotive and heavy oil chemicals involve harsh working environments and constant exposure to toxic substances. 
• Such processes pose a high risk to human workers and can lead to accidents and conventional handling of materials during processing can lead to permanent product damage and changes in material properties.
• This can also cause material contamination. Occupational injuries and physical exhaustion of human workers are common on assembly lines and can waste plenty of resources on industry players, which led companies to use robotics to improve employee safety. 

Key Trends - The government initiatives in Europe to improve the robotics industry are an emerging robotics market trend.

Major challenges - A shortage of skilled personnel is a major challenge hampering the growth of the robotics market.

Drivers, Trends, and Challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this Robotics Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the robotics market between 2023 and 2027
• Precise estimation of the size of the robotics market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the robotics market across APAC, Europe, North America, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of robotics market vendors

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Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-User
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix

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