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Research Report on Robotics Market Size, Share, Growth, Application Analysis, Competitive Market Strategies and Forecasts, 2015 to 2025
11 February, 2019 – The Global Robotics Market is anticipated to witness significant growth in coming years attributed to increasing use of robots to perform difficult and risky tasks. Robotics deals with the construction, operation, and use of robots or computer systems for their sensory feedback, control, and information processing. The technology is used to design machines that can substitute humans and their actions. Specialized training in mechanical and electrical engineering is required to design such machines. Sensors, effectors, and thermometer or barometer are the major components of automated machines. Sensors gather information of immediate surroundings. Effectors allow these machines to perform tasks and they may include shovels, grippers, hammers, motors, and speakers. Thermometer or barometer measures the temperature or pressure change. Every robot has a control center that manages its behavior and actions. Pre-programmed control centers can allow the machine to perform specific tasks only. Others can receive information from sensors and then choose an action based on recorded information.
Increasing use of robots in manufacturing units to enhance productivity and reduce human errors is anticipated to propel market growth. Semi or fully automated robots are increasingly used in production processes, inspection, packaging, and transportation as they reduce workload on workers and improve product quality. Growing adoption of robots for domestic purposes, such as cleaning and cooking, can also impel market growth in coming years. Floor washing robots and robotic vacuum cleaners can clean floors using wet mopping and sweeping functions. Fully articulated robotic hands can cook various dishes like a human chef, which in turn, can influence market expansion in coming years. Moreover, increasing use of automated healthcare devices in medical facilities, including hospitals and clinics can augment market growth. Growing adoption of minimally invasive surgeries attributed to less post-surgery complications can fuel demand for robotics surgeries.
High R&D investment and maintenance cost associated with automated machines can hamper market growth. In addition, power efficiency issues and legal aspects associated with the use of robots can challenge market growth. Slight malfunction in the programmed machine can lead to serious accidents, which can, in turn, obstruct market growth in coming years.
Introduction of safe, affordable, and long lasting batteries can create lucrative opportunities for the market. Manufacturing companies are expected to introduce robots that can work wirelessly in unstructured environments and extract energy from vibrations, light, and mechanical movements.
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The market can be segmented on the basis of type, application, and component. Based on type, the market can be categorized into exoskeleton, mobile robotics, and static robotics. On the basis of application, the market can be classified into personal, military, logistics, agriculture, medical, entertainment, research, and others. In terms of component, the market can be divided into actuators, sensors, control units, brake systems, vision systems, and others.
North America is expected to grow fast in coming years due to growing adoption of technology in healthcare, defense, and security sectors. Increasing use of robots in the automotive sector can also drive the market in coming years. Automobile manufacturers are expected to increase their productivity and quality in order to gain a competitive edge over others. In addition, growing need for service robots in the healthcare sector can spur market growth. In the United States, majority of healthcare providers are private and investing huge on services. In Canada, most healthcare providers are publicly funded and offering advanced services to local citizens. Rising demand for robotics in these healthcare facilities can augment regional market growth in the coming years. For instance, Texas Health Dallas is using a friendly hospital robot named Moxi, designed by Diligent Robotics. These automated machines assist nurses in logistical tasks, including restocking supply rooms and gathering medical equipment.
Asia pacific is likely to emerge highly lucrative in coming years. Growth of automotive and electronics sector is anticipated to propel demand for industrial robots in the region. Such automated machines can be employed in quality manufacturing applications that require accuracy and precision. China is expected to be the leading regional market for enterprise and consumer robots. Presence of semi-conductor companies along with robust hardware and software platforms can fuel growth of artificial intelligence in the country. Launch of innovative products by local manufacturing companies can spur market expansion in coming years. For instance, Emotix launched a personal robot for children named Miko 2 that can track the child’s mood and hold long conversations. It can be controlled using a mobile application. Currently, the device can only support English language. The company is expected to launch its advanced versions soon.
Some of the leading companies operating in the robotics market are Denso Corporation, Yaskawa Electric Corporation, Fanuc Corporation, Toshiba Corporation, and Kawasaki Robotics.
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