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Robotics Market Segmentation 2020

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Cheryl Hutcherson

(Daily Market Journal via Comtex) -- The robotics market was valued at $ 31.78 billion in 2018 and is expected to register a CAGR of 25% during the 2019-2024 forecast period. Industrial robots have come at a high price in the past decade, which is why return on investment should be achieved after a decade. However, currently, small collaborative robots are billed to companies for ROI in months, rather than decades, often costing around $ 20,000. Lower sensor prices and increased adoption have further reduced costs.

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The market studied is undergoing a significant transformation, with robots that go beyond being the workhorses of industrial workshops and begin to adopt the roles of personal assistants, surgical assistants, delivery vehicles, autonomous vehicles , exoskeletons and unmanned aerial vehicles, among many other uses. .

Besides affordability and user experience, size and shape also play a vital role in driving the robotics industry. The demand for industrial robots has accelerated considerably since 2010, due to the current trend towards automation and innovative technical improvements of industrial robots.

 

The market is still developing in new territories, small and medium-sized enterprises adopting automation, thus creating a demand for robots. The availability of low-cost and cost-effective solutions from major suppliers allows the penetration of robots in industries.
Scope of the report
The global robotics market is segmented by type, end user and region. By type of robot, the market studied is segmented into industrial robots and service robots. Industrial robots are widely used in the manufacturing industries. Service robots help humans, usually by doing tasks.The types of service robots considered in the scope are professional and personal robots. In addition, these robots respond to specific applications in particular sectors. For example, industrial robots are useful in the automotive, food and beverage, electronics, metal and mining, plastic and chemical industries. Service robots are used for logistics, military and defense, healthcare, public relations, exoskeletons, construction, housekeeping, entertainment and agriculture. Software solutions offered by sellers,

Key Market Trends
Service Robotics to Register Highest Growth
Factors like the aging population and shortages of healthcare workers is driving the demand for assistive technology robots. Companies like KUKA (healthcare subsidiary Swisslog) are specializing in robots for healthcare applications. For instance, Swisslog's Relay is designed for inpatient and outpatient services, like the transport of medicines and other hazardous medications, including chemotherapy.
The emergence of robotic technology has transformed the way businesses are carrying out their operations. Moreover, with the proliferation of e-commerce, the need for automated warehouses is increasing. Kiva and Mobile industrial Robots (MiR) are prominent companies among other startups that are innovating in the warehouse robotics space.

Fully automated solutions are providing huge opportunities for warehouse purposes. For instance, MiR's warehouse robot, MiR 500, a flexible- easy-to-program robots equipped with a laser-scanning technology and lifting capacity of 1,102 lbs and a speed of about 4.5 mph, is designed to automate the transportation of pallets and heavy loads throughout a warehouse. New innovations apart from the laser technologies in warehouse robotics are being led by the startups. For instance, inVia Robotics, a California based startup is developing warehouse cobots, that can work right alongside humans.

Asia -Pacific to Hold Major Share
Asia-Pacific is expected to record the highest growth rate over the forecast period, owing to significant adoption of industrial robots throughout the region. China is dominating the regional adoption rate of robotics, owing to the massive deployment in the country's dominating electronic and automotive manufacturing sector. As these sectors are also developing at a high rate in other economies in the region like India, there is vast potential for growth in the market studied. The regional government is also a major factor for the development of the regional robotics market. For instance, India plans to invest in military robotics, and by 2023, the country is preparing to deploy advanced robotic soldiers. Also, a New Delhi-based company is building robots for the Indian Army.
Competitive Landscape
The robotics market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability. In Jun 2018, ABB Ltd launched the third-generation IRB 6790 foundry prime robot, at Automatica 2018, in Munich. The product is aimed at high-pressure water jet cleaning applications in harsh industrial environments. This robot increases reliability and system uptime while reducing the maintenance costs by up to 60%. In Sep 2018,

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Table of Contents
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

 

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Advent Of Industry 4.0 Driving Automation
4.3.2 Increasing Emphasis On Safety
4.3.3 Demand From The Oil And Gas Industry
4.4 Market Restraints
4.4.1 High Cost Of Installation
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness Porter's Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers / Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Industrial
5.1.2 Service
5.2 By End User
5.2.1 End Users of Industrial Robots
5.2.1.1 Automotive
5.2.1.2 Food and Beverage
5.2.1.3 Electronics
5.2.1.4 Other End Users of Industrial Robots
5.2 .2 End Users of Service Robots
5.2.2.1 Logistics
5.2.2.2 Military and Defense
5.2.2.3 Medical and Healthcare
5.2.2.4 Other End Users of Service Robots
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia Pacific
5.3. 4 Latin America
5.3.5 Middle East and Africa

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 ABB Ltd
6.1.2 Yaskawa Electric Corporation
6.1.3 Denso Corporation
6.1.4 Fanuc Corporation
6.1.5 Kuka AG
6.1.6 Kawasaki Heavy Industries Ltd
6.1.7 Toshiba Corporation
6.1.8 Panasonic Corporation
6.1 .9 Staubli International AG
6.1.10 Nachi Robotic Systems Inc.
6.1.11 Yamaha Mot

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The post Global Robotics Market is Expected to Register a CAGR of 25% by 2024: Orbis Research appeared first on Dailymarketjournals.

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