DUBLIN--(BUSINESS WIRE)--The "Robotics Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The robotics market was valued at USD 39.72 billion in 2019 and is expected to register a CAGR of 25.38% over the forecast period from 2020 to 2025.
The market is experiencing a significant transformation, with robots growing beyond the workhorses of industrial shop floors and beginning to adopt the roles of personal assistants, surgical assistants, delivery vehicles, autonomous vehicles, exoskeletons, and crewless aerial vehicles, among many other uses. In the past decade, industrial robots used to be high priced, due to which, the ROI is expected to be achieved after a decade. However, presently, smaller collaborative robots are priced for companies to receive ROI in months instead of decades, often costing around USD 20,000. Declining sensor prices and increasing adoption have further aided lower costs.
Technological innovations, concerning cognition, interaction, and manipulation, have made robotics more appealing. Technology and other component providers have been instrumental in moving the robotics ecosystem forward. In December 2019, Soft Robotics announced a strategic partnership with Fanuc, which invested in Soft Robotics as startup raised USD 23 million in oversubscribed funding round.
Soft Robotics' disruptive mGrip modular gripper system and automation solutions have enabled the successful implementation of robotic applications in the highly variable and unstructured environments of consumer goods manufacturing, food processing and packaging, and e-commerce supply chain automation.
The automotive industry, which is considered to be the most critical application sector of industrial robots, significantly increased investments in industrial robots worldwide. In April 2020, BMW AG has signed an agreement with KUKA for the supply of around 5,000 robots destined for new production lines and factories around the world.
According to KUKA, industrial robots will be used around the world at the BMW Group's international production sites for the manufacture of the current and future vehicle models. The various robot models are expected to be used primarily in body-in-white production and other technologies. The scope of the agreement also includes other innovative products from the KUKA portfolio, such as its linear units, used to increase the workspace of the robot, and energy supply technology.
In the modern manufacturing sector, there are a few main ways in which AI is deployed, along with robotics. Using AI's subset Machine Learning (ML), a system is designed where the device learns from its mistakes and automatically compensates for errors as it works. The combination of such technologies has the potential to make lives a lot easier. People could monitor the performance of robots as opposed to manually performing tasks themselves.
The downside of this would be that the labor demand for any industry that utilizes these robots will be far less. In CES 2020, Samsung unveiled a bot chef who is capable of making people a salad on their command. Also, Delta Airlines showcased an exoskeleton that can boost the strength and endurance of the human body.
The global battle against COVID-19 has seen technology play a crucial role in assisting humans in containing the spread of the virus and dealing with the existing cases. One of the critical technologies that have made an enormous difference on the ground is robotics. A large number of hospitals worldwide are currently using robots to aid both the healthcare staff and patients. Robots have the potential to be deployed for disinfection, delivering medications and food, measuring vital signs, and assisting border controls.
In China, Disinfection Robot UVD was in high demand since the outbreak of the pandemic. Many hospitals in the country have been ordering the robot, which is manufactured by Denmark's Blue Ocean Robotics. These robots have played a key role in controlling the virus in Wuhan, the epicenter of the virus.
The robotics market is highly competitive and consists of several major players. In terms of market share, few of the major players such as Fanuc Corporation, ABB Ltd, KUKA AG, Yaskawa Electric Corporation, etc. currently dominate the market.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness Porter's Five Force Analysis
4.3 Industry Value Chain Analysis
4.4 Assessment of the impact of COVID-19 on the market
4.5 Market Drivers
4.5.1 Advent Of Industry 4.0 Driving Automation
4.5.2 Increasing Emphasis On Safety
4.5.3 Demand From The Oil And Gas Industry
4.6 Market Restraints
4.6.1 High Cost Of Installation
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
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 Motor Co. Ltd
6.1.12 Seiko Epson Corporation
6.1.13 Comau SpA
6.1.14 Adept Technologies Inc.
6.1.15 Intuitive Surgical Inc.
6.1.16 Stryker Corporation
6.1.17 Maxar Technologies Ltd (Mda Corporation)
7 INVESTMENT ANALYSIS
8 FUTURE OF THE MARKET
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