Robotics
Market, Supplier, Risk and
Competitive Intelligence

Industry Outlook & Drivers

Global Market Outlook on Robotics

• The global robotics market is seeing a considerable transformation, with robots evolving beyond the workforces of industrial shop floors and starting to take over the responsibilities of surgical assistants, personal assistants, autonomous vehicles, delivery vehicles, crewless aerial vehicles, and exoskeletons. 
• Over the last couple of years, industrial robots were costly thus negatively affecting the ROI. However, at present, smaller collaborative robots (Cobots) are priced for enterprises to achieve ROI in months rather than decades, generally costing around $20,000. Rising adoption and decreasing sensor prices have further triggered reduced costs.
• The global industrial robotics market was valued at $35 billion in 2015 and was expected to grow at a CAGR of 14% to reach about $68 billion by 2020.
• Increased momentum in the global industrial robotics industry has been visible since 2015, with major markets characterized by a high level of automation.
• In 2015, industrial robots registered record-breaking sales of around 254,000 units.
• China, South Korea, Japan, the US, and Germany are the five major markets contributing about 75% of the global sales volume.
• The global robotics market size was estimated at $15.8 billion in 2018. In 2019, the robotics market was estimated to be worth $62.75 billion. Per the industrial robotics market analysis report, it is forecasted to reach $33.8 billion by 2025. 
• The report further reveals that the global robotics market size will expand by 13.5% CAGR from 2020 to 2027, reaching the $189.36 billion mark.
• The industrial robotics market size is expected to grow by a CAGR of 11.5% during the forecast period.
• Major global robotics service providers include Fanuc, Yaskawa, ABB, Kawasaki, Nachi, Denso, and Kuka.
• Non-industrial applications such as healthcare will see rapid utilization of robotics, where robots have been a major component in minimally invasive surgeries. While non-industrial robots are gradually finding use in small surgeries such as gynecology or urology, they will be leveraged in complex medical procedures in the immediate future.
• Rising expenses and labor scarcity is paving the way for non-industrial robotics in the agricultural sector. Robots are proving immensely useful in crop harvesting and picking vegetables and fruits without damaging them. Equipped with graphic processing units (GPU), robots can figure out the ripeness of the products. Besides, autonomous tractors or drones are utilized to monitor crops’ health.

Industrial Robotics-Market Overview

• Fast-paced industrial automation is majorly driving the adoption of industrial robotics. Automated robots are making huge inroads into small and large enterprises given their affordability and accessibility.

• The International Federation of Robotics (IFR) has revealed that the global average count of industrial robots per 10,000 workers increased from 66% in 2015 to 85% in 2017.

• With surging pressure on domestic manufacturing and demand, intelligent robotics are expected to see exponential growth.

• In 2015, 2.50 Lakh units of industrial robots were sold and the market was set to grow at a CAGR of 14% to reach 4.30 Lakh units by 2019.

• China leads the position as the biggest market with a share of 27%, followed by Korea and Japan.

• By 2019, Soft Robotics mGrip gripper system innovation helped the company raise $23 million. They also entered into a partnership with Fanuc. Such innovations in the field of control automation are expected to foster industrial robotics market growth.

Industrial Robotics End-user Market(2015)

• The automotive industry has witnessed increased investments in automation and continues to be a major end-user of industrial robotics. In 2015, about 97500 units of robots were sold with an increased sales of 4% from 2014.
• Rapid modernization and recent investments in new production lines by major automotive markets have led to a rise in robot installations, and robot sales in the automotive industry increased at a CAGR of 20% from 2010 through 2015.
• As manufacturers are striving to utilize new materials and develop energy-efficient drive systems combined with high competition across major car markets, the adoption of automotive robotics will remain high in the coming years.
• In 2015, robot sales in the electronics industry rose by about 41% from 2014 to gain a market share of about 25%.
• Increasing demand for electronic products and increasing automation of production lines contributed to the sale of about 64,600 robot units in the electronics industry.

Global Drivers and Constraints

Drivers

Demand from the Manufacturing Sector:

• The perpetual need to modernize manufacturing facilities to tackle the increasing labor costs, an aging workforce, and increasing focus on productivity and quality will drive the demand for robots in the manufacturing sector. The Capex and MRO sector is likely to see increased growth thanks to the use of robotics. Our robotics market report explains all these.
• Further, the industry's shift toward automation, to aid in mass customization and shorter product life cycles, is set to drive the growth of the robotics market globally

The Impact of COVID-19

The COVID-19 pandemic has triggered the adoption of robotics in the healthcare industry to assist medical staff. Medical professionals are increasingly using robots in the diagnosis, testing, and treatment of COVID-19 affected patients. Various hospitals are leveraging robots to treat infected patients distantly and efficiently. The consequent physical distancing protocols have substituted human workers with intelligent robots, subsequently increasing the robotics market size. As some of these protocols may remain intact in the near future, demand for robots is likely to surge. 

Internet of Robotic Things (IoRT):

Recent technological advancements in robotics and AI have led to the introduction of IoRT, which makes use of devices to fuse sensor data from multiple sources and use intelligence to determine the course of action. As Industry 4.0 is expected to play a pivotal role in global manufacturing, IoRT will help in more efficient and easier methods for robotic manipulation and grasping in manufacturing functionalities leading to increased use of robotics 

Collaborative Robots:

Collaborative robots are light, cost-effective, and adaptive. They work along with human workers, assisting them with a variety of tasks without the need for safety barriers. This is set to drive the robotic market in the coming years as most manufacturers are eager to adopt this technology as it promises higher ROI.

Constraints

Stagnation of Industrial Manufacturing:

The global slowdown in investments and stagnating manufacturing activity has led to the stagnation of industrial production which will lead to lesser investments in automation and hamper the growth of robotics.

High Cost of Robotics:

High initial costs involved in the set up of robots hampers the growth of the market as it takes a longer period to recover the ROI.

Availability of Low-Cost Labor across Developing Economies:

The availability of low-cost labor across developing countries has hindered the growth of the robotics market.

Rising Data Privacy Concerns:

Ethical concerns related to the ownership of information, especially with the upsurge of software services for robots are an existing challenge for robotics makers and the global robotics market at large.

Market Overview

• According to industrial robotics market analysis, cheap manual labor acts as a threat of substitution for the robotics industry.  
• The North American industrial robotics market size has a growth rate (2018–2025) of 18–19% CAGR.
• The Latin American industrial robotics market size has a growth rate (2018–2025) of 9–10% CAGR.
• The European robotics industry market size has a growth rate (2018–2025) of 15% CAGR.
• The APAC robotics industry market size has a growth rate (2018–2025) of 15–16% annually.
• The dual-arm robots offer the benefit of working together on a given work piece. The type of movement is performed by the configured arrangement of joints and linkages.
• Parallel industrial robots are configured such that the loops can be closed from the base to the tool and back to the base.

Why You Should Buy This Report

The report provides information on the robotics industry market size, drivers and constraints, industrial robotics market analysis, and Porter’s five forces analysis for the global robotics market. It gives the regional market outlook for North America, Europe, APAC, etc. It lists out the different types of industrial robots, and industrial robot market size. This industrial robotics market analysis report details the major technological breakthroughs in the robotics industry and gives the profiles of key players like ABB, Kawasaki, Fanuc, etc. It gives information on the Internet of Robotic Things (IoRT).