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Top Robotics market segmentation by Robotics type (top industrial robotics, top service robotics, the impact of covid-19 on robotics market) By Type (traditional industrial robots, collaborative industrial robots, the impact of covid-19 on industrial robot types) By Application (handling, welding, and soldering, assembling and disassembling, dispensing, processing, others) By Industry (automotive, electrical and electronics, metals and machinery, plastics, rubber and chemicals, food and beverages, precision engineering and optics, pharmaceuticals, and cosmetics, Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2022 to 2027.

Published: March, 2023
ID: 11228
Pages: 175
Formats: report pdf report excel report power bi report ppt

Top Robotics Market Size, Trends & Growth (2022 - 2027)

Service robots help people, ordinarily by performing undertakings. The kinds of service robots considered in the degree are proficient and individual robots. Besides, these robots meet explicit applications, specifically enterprises.

During the last decade, industrial robots were very expensive, so the return on investment is expected to be achieved after a decade. However, at the moment, the price of smaller collaborative robots allows companies to receive a return on their investment in months rather than decades, which often costs around $ 20,000. Lower sensor prices and increasing adoption have also helped lower costs. Technological innovations relating to cognition, interaction, and manipulation, have made robotics more attractive. Suppliers of technology and other components have contributed to the advancement of the robotics ecosystem.

Recent Developments:

Make agriculture sustainable by introducing robotic technology why DENSO participates in the agro-technological sector.

IMPACT OF COVID-19 ON TOP ROBOTICS MARKET:

In China, the UVD disinfection robot has been in high demand since the outbreak of the pandemic. Many hospitals across the country have commissioned the robot, which is manufactured by the Danish company Blue Ocean Robotics. These robots played a key role in controlling the virus in Wuhan, the epicenter of the virus. The effects of COVID-19 are expected to vary widely from region to region and among major robot manufacturers due to supply chain disruptions. For service robots, the pandemic is driving increased use of service robots around the world. The European Commission is providing small businesses with $ 178 million in funding to develop processing, testing, monitoring, and other robotic technologies. The emergence of the COVID-19 pandemic, a deadly respiratory disease that originated in China, has now become a global problem and has also affected the prominent robotics market. Most types of industrial and service robots have been affected by this crisis, which is expected to have a short-term impact. Although the service robot market is expected to have a brief impact, the industrial robot market will have a longer impact which is expected to continue until the end of 2020. This is due to the higher growth rate of service robots compared to industrial robots. For example, FANUC (Japan) announced that its ROBOT division's revenue was down 6.9% from the previous year for its fiscal year ending March 2020. The impact of COVID-19 at the end of the exercise is one of the reasons for the decline. iRobot (USA), on the other hand, has already started to recover from the pandemic. The company said its revenue for the second quarter of 2020 was 8% higher than the previous year. The COVID-19 pandemic will have a variable impact on different types of industrial and service robots. Traditional industrial robots are expected to be hit the hardest due to reduced investment in major industries such as automobiles and metals, and machinery. However, collaborative robots are not expected to be as impacted as it is a growing market, and they are used in a more diverse set of industries. Service robots are expected to be affected by the rental. Since drones, AGVs, disinfectant robots, and telepresence robots are widely used for applications such as room disinfection, temperature monitoring, personal assistance, and automated delivery, there will be a constant demand for these robots during the pandemic. However, consumer-based service robots will be hit hard by declining disposable income as a result of the pandemic.

Drivers and Restraints of Top Robotics Market:

Drivers:

Manufacturing industries are expected to face a labor shortage in the coming years. The shortage of skilled labor in manufacturing industries is one of the major factors for companies to adopt robotics. Service robots are increasingly being adopted for new applications due to various benefits such as increased productivity, optimized processes, and increased safety at work. The main advantage of using service robots is the reduced cost of operation and a high return on investment. These factors are attributed to propel the demand of the market.

Restraints:

The high investments required for the initial setup and integration of industrial robotics solutions make it difficult for small and medium-sized businesses to adopt robots in various industries.

Top Robotics Market Segmentation:

By Robotics Type:

  • Top Industrial Robotics
  • Top Service Robotics

Top industrial robotics are leading with the dominant shares of the market owing to increasing adoption of these devices and growing support from the government through investments.

By Type:

  • Traditional Industrial Robots (Articulated, Cartesian, SCARA, Parallel, and Collaborative Robots)
  • Collaborative Industrial Robots

Collaborative industrial robots are gaining ground not only in SMEs but are replacing traditional industrial robots in some cases. Rising wages, a shortage of skilled workers, and shrinking margins that push SMEs to automate, and the ease of implementation of collaborative robots are contributing to its tremendous growth. Collaborative robots are widely adopted by SMEs because they offer a quick return on investment of around 3 to 12 months.

by Application:

  • Handling
  • Welding & Soldering
  • Assembling & Disassembling
  • Dispensing
  • Processing
  • Others (Inspections & Quality Testing and Die Casting & Molding)

The term material handling encompasses a wide variety of operations such as pick and place, palletizing, packing, loading, and unloading (or maintenance of machinery). Factors such as payload, speed, and factory settings contribute to robot selection. Material handling generally requires a higher payload capacity than other applications. Equipping the industrial robot with the appropriate end effector is also necessary for specific material handling applications.

By Industry:

  • Automotive
  • Electrical & Electronics
  • Metals & Machinery
  • Plastics, Rubber, and Chemicals
  • Food & Beverages
  • Precision Engineering & Optics
  • Pharmaceuticals & Cosmetics
  • Others (Paper & Printing, Foundry & Forging, Ceramics & Stone, and Wood)

Top Robotics Market Region-wise analysis:

Marked Segmentation based on the region:

North America

  • U.S
  • Canada

Europe

  • Norway
  • Germany
  • Sweden

Asia Pacific

  • China
  • India
  • Japan

The APAC region market is expected to grow at the highest CAGR during the forecast period. This is due to the presence of countries such as Japan, China, and Korea, which in 2017, according to the IFR, were the 4th, 5th, and 6th largest manufacturers of service robots. Furthermore, the increase 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 and gas industry in the APAC region has seen significant growth in the last 2-3 years, resulting in high demand for autonomous underwater vehicles (AUVs) and remotely operated vehicles (ROVs).

Latin America

  • Brazil
  • Mexico
  • Argentina

Key Players of Market:

  • Daihen Corporation
  • Denso Corporation
  • Epson America, Inc.
  • Fanuc Ltd.
  • Kawasaki Heavy Industries Ltd.
  • KUKA Robotics Corporation
  • Mitsubishi Electric Corporation
  • Nachi Robotic Systems, Inc.
  • Panasonic Corporation
  • Universal Robotics
  • Yaskawa Electric Corporation
  • Other Companies Operating in the Industry
  • ABB Ltd.
  • Robofusion
  • Kobelco Paint Robot
  • Kobe Steel Limited

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