Robotics Market Growth Driven by Rising use of Enhanced Technology in Robotics Hardware and Growing Demand in Aerospace, Automotive, & Healthcare Industries: Radiant Insights, Inc.

Robotics Market Growth Driven by Rising use of Enhanced Technology in Robotics Hardware and Growing Demand in Aerospace, Automotive, & Healthcare Industries: Radiant Insights, Inc.

PR Newswire

SAN FRANCISCO, November 6, 2018

SAN FRANCISCO, November 6, 2018 /PRNewswire/ --

Global Robotics Market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Robotics is termed as a science of technology mainly associated with enhancements of engineering, advanced algorithms, material science, manufacturing techniques, application of robots, and sensor fabrication. It is designed to perform human tasks. It is rising speedily with an arrival of big data and the IoT and machines are now capable of processing huge quantities of data and learning with negligible human interaction. Rising use of enhanced technology in robotics hardware and growing demand in aerospace, automotive, and healthcare industries are documented as major factors of Robotics Market that are estimated to enhance the growth in the years to come. However, lack of skilled work personnel's and high investment for installation of robots are that factors that may restrain overall market growth in the coming years. Robotics Market is segmented based on type, component, applications, and region. Static robotics, mobile robotics, exoskeleton, and other types could be explored in Robotics in the forecast period. In terms of volume and value, static robotics sector may account for the significant market share of Robotics and is estimated to continue its dominance in the coming years. Vision systems, sensors, brake systems, control units, and actuators are the components that could be explored in Robotics in the forecast period. Sensors sector may account for the substantial market share of Robotics and is estimated to continue its dominance in the coming years. This may be because of growing demand for advanced sensing abilities of robots. Also, the sector is estimated to grow at highest CAGR in the coming years. Vision system follows suit.

The market may be categorized based on application like research, logistics, medical, personal, entertainment, last mile mobility, entertainment, agriculture, construction/mining, and others that could be explored in the forecast period. The other sector includes food processing, automotive, and aerospace. The logistics sector may account for the significant market share of Robotics and is estimated to lead the overall market in the coming years. Robotics Market is segmented geographically into Americas (North America, South America, and Latin America), Europe (Eastern Europe, Western Europe), Asia Pacific (India, China, Japan, New Zealand, and Australia), Latin America (Mexico, Argentina, and Brazil), Middle East (UAE, Saudi, and Qatar) and Africa (South Africa). Globally, Asia Pacific may account for the significant market share of Robotics and is estimated to lead the overall market in the coming years. The reason behind the overall market growth could be presence of key manufacturing units in the region and enhancement and innovation in the field of robotics. The developing countries like India and China are the major consumers of Robotics in this region. Instead, North America and Europe are also estimated to have a positive influence on the future growth. North America is the second largest region with significant market share. However, the region is estimated to grow at fastest pace with the highest CAGR in the foremost period. The key players of Robotics Market are Yaskawa Electric, ABB, OMRON, FANUC, Mobile Industrial Robots, Intuitive Surgical, Midea Group, and iRobot. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.

Access 132 page research report with TOC on "Robotics Market" available with Radiant Insights, Inc. @ https://www.radiantinsights.com/research/global-robotics-market-2018-2022

A robot is an automated and operator control system that is used to speed up industrial processes, applications, and productivity by minimizing the requirement of manual workers. Any robotic system is a combination of hardware which includes the robot, and its allied components, control system, software that is installed in the control panel and services regarding installation and after-sales services. Analysts forecast the global robotics market expected to grow to USD 77.32 million during the period 2018-2022.

The report covers the present scenario and the growth prospects of the global robotics market for 2018-2022. To calculate the market size, the report considers the revenue generated from new sales of robot systems including robot hardware, software, and services.

Global Robotics Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

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