The top robotics market is expected to grow from USD 76.6 billion in 2020 and is projected to reach USD 176.8 billion by 2025; it is expected to grow at a CAGR of 18.2%

NEW YORK, Nov. 2, 2020 /PRNewswire/ -- The top robotics market is expected to grow from USD 76.6 billion in 2020 and is projected to reach USD 176.8 billion by 2025; it is expected to grow at a CAGR of 18.2% during the forecast period. Manufacturing industries are expected to face a workforce shortage within the next few years. Due to the anticipated shortage of skilled labor in manufacturing industries, increasing automation using industrial robots to counter the skill gap is one of the solutions adopted by companies. Service robots are increasingly being adopted for new applications due to various advantages such as increased productivity, streamlined processes, and more excellent workplace safety. The main advantage of using service robots is the reduction in the cost of operation and high ROI.

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Professional service robots expected to maintain its market dominance during the forecast period
Professional service robots are high-tech, sophisticated, and expensive service robots that are increasingly deployed in factories, hospitals, public buildings, and dangerous and hazardous environments.Service robots used for professional applications include drones, automated guided vehicles (AGVs), agricultural robots, inspection robots, humanoid robots, exoskeletons, construction robots, robotic kitchen, laundry robots, unmanned surface vehicles (USVs), autonomous underwater vehicles (AUVs), remotely operated vehicles (ROVs), inspection robots, telepresence robots, surgical robots, and cleaning robots.

Due to the high cost of these robots, there is less penetration for domestic applications.

Collaborative robots expected to grow at highest CAGR during the forecast
Collaborative industrial robots are gaining traction not only in SMEs but are replacing traditional industrial robots in a few cases.Rising wages, the shortage of skilled workers, and tighter margins pushing SMEs to automate, and the ease of deployment of collaborative robots is contributing to their huge growth.

Collaborative robots are largely being adopted by SMEs as they provide a fast ROI of about 3–12 months.Also, many collaborative robot manufactures such as Universal Robots (Denmark) have an easy-to-use programmable software, which is compatible with a wide variety of end effectors, vision systems, and other peripherals.

This reduces the cost and complexity of integration when compared to traditional industrial robots. Due to the unique ability of collaborative robots to share the same workspace with a human worker, these robots are expected to be adopted at a faster rate in the coming years.

Handling application to dominate the top industrial robotics market in 2020
The term material handling encompasses a wide variety of operations such as pick and place, palletizing, packaging, and loading and unloading (or machine tending).Factors such as payload, speed, and factory layout contribute to the selection of the robot.

Material handling generally requires a higher payload capacity compared with other applications.Fitting the industrial robot with the appropriate end effector is also necessary for specific material-handling applications.

Industrial robots with a payload capacity of 10 kg and more than 250 kg are adopted for the handling application.The handling application utilizes a wide range of payloads compared with applications such as welding and painting, which utilize robots with a payload between 20 kg to 50 kg and require specialized design.

All types of industrial robots can perform handling applications, but the same is not the case for other applications. Hence, the handling application held the largest share.
APAC to grow at a significant rate for top service robotics market in 2020–2025
The market in APAC is expected to grow at the highest CAGR during the forecast period.This is because of the presence of countries such as Japan, China, and Korea, which, according to IFR, in 2017, were the 4th, 5th, and 6th largest service robot manufacturers.

Also, the rise in disposable income due to increasing industrialization in developing countries such as India and the Philippines is expected to increase the demand for service robots. The oil & gas industry in APAC has witnessed significant growth in the past 2–3 years, which is leading to a high demand for autonomous underwater vehicles (AUVs) and remotely operated vehicles (ROVs).
The effects of COVID-19 is expected to vary widely across different regions and among different top robotic manufacturers due to disruptions in the supply chain.For service robots, pandemic is prompting more service robot usage worldwide The European Commission is offering small businesses USD 178 million in funding to develop treatment, testing, monitoring, and other robotic technologies.

In China, drones, AGVs, and telepresence robots are being deployed in hospitals and other areas for transport, cleaning, and remote checkup.For industrial robots, European and North American industrial robotics market saw a sharp decline in the first and second quarter of 2020.

Due to the faster recovery in APAC countries such as China and Japan, the negative impact of industrial robots is expected to subside over time.

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 industry experts in the top robotics marketspace. The break-up of primary participants for the report has been shown below:
• By Company Type: Tier 1 – 40%, Tier 2 – 30%, and Tier 3 – 30%
• By Designation: C-level Executives – 40%, Directors – 40%, and Others – 20%
• By Region: North America –40%, APAC– 30%, Europe – 20%, and RoW – 10%

The report profiles key players in the top robotics market with their respective market ranking analysis. Prominent industrial robot players profiled in this report are FANUC (Japan), ABB (Switzerland), YASKAWA (Japan), KUKA (Germany), Kawasaki Heavy Industries (Japan), Mitsubishi Electric (Japan)< DENSO (Japan), NACHI-FUJIKOSHI (Japan), Universal Robots (Denmark), Omron Adept (Japan), Seiko Epson (Japan), Stäubli (Switzerland), Siasun (China), Techman Robot (Taiwan), Comau (Italy), Yamaha (Japan), b+m Surface Systems (Germany), Delta Electronics (Taiwan), IGM (Austria), Dürr (Germany), Rethink Robotics (US), CMA Robotics (Italy), Precise Automation (US),ST Robotics (US), Franka Emika (Germany), MABI Robotic (Switzerland), Bosch (Germany), TAL Manufacturing Solutions (India), Hyundai Robotics (South Korea), and Kassow Robots (Denmark). Prominent service robot players profiled in this report are Intuitive Surgical (US), Daifuku (Japan), DJI (China), iRobot (US), Kongsberg Maritime (Norway), DeLaval (Sweden), Amazon Robotics (US), Softbank Robotics (Japan), UBTECH Robotics (China), Precision Hawk (US), Hanson Robotics (China), CYBERDYNE (Japan), Parrot (France), GE Inspection Robotics (Switzerland), Stryker (US), KUKA (Germany), Neato Robotics (US), ECA Group (France), 3DR (US), Lely (Netherlands), GRAAL (Italy), Starship Technologies (US), ecoRobotix (Switzerland), HARVEST CROO (US), CMR Surgical (UK), EndoMaster (Singapore), SKYDIO (US), Skyqraft (Sweden), Matternet (US), ROBOTICS PLUS (New Zealand), Diligent Robotics (US), Flirtey (US), Dusty Robotics (US), Built Robotics (US), Moley Robotics (UK), and SPYCE FOOD (US).

Research Coverage:
This research report categorizes industrial and service robots in the top robotics market on the basis of type, environment, application, industry, and geography.The report describes the major drivers, restraints, challenges, and opportunities pertaining to the top robotics market and forecasts the same till 2025 (including analysis of COVID-19 impact on the market).

Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the top robotics ecosystem.

Key Benefits of Buying the Report

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 across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with 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, product developments and launches, partnerships, and mergers and acquisitions.
4. The analysis of the top 25 companies as well as start-ups, based on the strength of the market rank as well as the product footprint will help stakeholders visualize the market positioning of these key players.
5. Patent analysis and technological trends that will shape the market in the coming years has also been covered in this report.

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