The global Robot Operating System (ROS) market size is expected to grow from USD 312 million in 2019 to USD 467 million by 2024, at a Compound Annual Growth Rate (CAGR) of 8.4%
The rise in Research and Development funds for industry automation and increasing implementation of collaborative modular robots to drive the ROS market
Read the full report: https://www.reportlinker.com/p05807840/?utm_source=PRN
NEW YORK, Oct. 30, 2019 /PRNewswire/ -- The global Robot Operating System (ROS) market size is expected to grow from USD 312 million in 2019 to USD 467 million by 2024, at a Compound Annual Growth Rate (CAGR) of 8.4% during the forecast period. The increasing demand for Robotics-as-a-Service (RaaS) model and the rising adoption of low-cost industrial robots are the key factors driving the ROS market. However, the complex design of modular robots and controlling electronics, and high installation cost of low-volume production applications may hamper the growth of ROS market. Companies such as ABB and FANUC Corporation look forward to investing funds toward research and innovation. Strategies such as collaborations and acquisitions assist organizations which offer ROS in expanding their geographic footprints. These business expansions of major players are creating a demand for ROS. The robotic sector, through partnerships, mergers, and acquisitions, is providing companies access to the rapidly growing robotics industry.
Collaborative robots to account for the highest CAGR during the forecast period
The safety features and benefits over other robots to perform certain light-duty tasks, is driving the adoption of collaborative robots across the ROS market.Robots can be integrated with various sensors, vision systems, and passive compliance.
It also integrates with overcurrent detection features, which detect any imminent collision with humans and take appropriate action to stop their movement, or deactivate the arm, or move the joint in the opposite direction, to avoid injury.
Automotive industry to dominate the market during the forecast period
The automotive industry is extremely dynamic and requires an exceptional flexibility from automotive manufacturers.The growing global competition demands for smart production systems, combined with flexible logistics systems.
Within the manufacturing process, competitiveness, quality, and productivity have been improved owing to a better level of speed, accuracy, precision, flexibility, and agility of robots.Hence, ROS is highly incorporated in robots that are used in the automotive industry.
The implementation of robots can help manufacturers to reduce time-to-market, cut product costs, and lower energy consumption. As automotive manufacturers look to remain competitive, they expect robotics to continue playing a pivotal role in the evolution of the automotive industry.
Asia Pacific to grow at the highest CAGR during the forecast period
The ROS market has been witnessing a tremendous growth in regions, such as China, Japan, and South Korea.These countries have a high penetration in the ROS market and provide solutions that resolve the complex queries faced by customers.
The high adoption rate of digital technologies and automation, especially in China, Japan, and South Korea, has made APAC a lucrative market.The growing development in these countries is expected to provide several new opportunities for ROS vendors in APAC.
The rising aging population is driving the demand for robots in countries, such as China and Japan. The increased application of robots in diverse industries, including education and healthcare, further supplements the growth of the ROS market in APAC.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the ROS market.
The breakup of the profiles of the primary participants is given below:
• By Company: Tier 1 – 62%, Tier 2 – 23%, and Tier 3 – 15%
• By Designation: C-Level – 38% and Director Level – 30%, and others – 32%
• By Region: North America – 40%, Europe – 15%, APAC – 35%, MEA – 5%, and Latin America – 5%
The key vendors profiled in the report are as follows:
• ABB Ltd. (Switzerland)
• FANUC (Japan)
• KUKA AG (Germany)
• Yaskawa Electric Corporation (Japan)
• Denso (Japan)
• Microsoft (US)
• Omron Corporation (Japan)
• Universal Robotics (Denmark)
• Clearpath Robots (Canada)
• iRobot Corporation (US)
• Rethink Robotics (Germany)
• Stanley Innovation (US)
• Husarion (Poland)
Research Coverage
The ROS market has been segmented by robot type (articulated robots; Selective Compliance Articulated Robot Arm [SCARA] robots; parallel robots; cartesian robots; and collaborative robots), application (pick and place; plastic injection and blow molding; Printed Circuit Board [PCB] handling and Information and Communications Technology [ICT]; testing and quality inspection; metal stamping and press tending; Computerized Numerical Control [CNC] machine tending; and co-packing and end of line packaging), industry (automotive; electrical and electronics; metals and machinery; plastic, rubber, and chemicals; food and beverages, healthcare; and others), and region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews; key strategies; partnerships, agreements, and collaborations; business expansions; and competitive landscape associated with the global ROS market.
Reasons to Buy the Report
The report would help the market leaders/new entrants in the following ways:
• It comprehensively segments the ROS market and provides the closest approximations of the revenue numbers for the overall market and its sub segments across regions.
• It would help stakeholders understand the pulse of the market and provide information about the key market drivers, restraints, challenges, and opportunities.
• It would help stakeholders understand competitor behavior better and gain more insights to enhance their positions in the market. The competitive landscape section includes the competitor ecosystem, partnerships, and acquisitions.
Read the full report: https://www.reportlinker.com/p05807840/?utm_source=PRN
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
Share this article