Robotics
Market, Supplier, Risk and
Competitive Intelligence

Industry Outlook & Drivers

Global Market Outlook on Robotics

• Robotics is a technology that integrates science, engineering, and technological innovation to create robots. Robotics involves the use of machines to take up the work that is done by humans. The use of robotics is not merely restricted to the manufacturing sector but also in many other fields like healthcare and agriculture.
• A number of innovations have allowed the robotics industry to grow by leaps and bounds. Human interaction with robots has been made possible by cobots. This represents a new trend that could revolutionize the use of robotics technology.
• Other innovations that have helped increase the robotics market demand include machine learning, underwater robotics, and self-driving vehicles. These technologies have wide-spread applications in warehousing, assembling, and manufacturing.
• A key trend that has made the use of robots in industrial services automation widespread is the fall in prices. The cost of sensors used in these applications has fallen.
• The global market for industrial robotics was valued at $35 billion in 2015. It was expected to grow at a CAGR of 14 percent, to reach about $68 billion by the end of 2020.
• Increased momentum in the global industrial robotics market has been visible since 2015, with major markets characterized by a high level of automation.
• In 2015, around 254,000 units of industrial robots were sold, which was the largest number ever recorded per year at the time.
• China, South Korea, Japan, the US, and Germany are the five major markets. They contribute to about 75 percent 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. It is forecasted to reach $33.8 billion by 2025. It is estimated that from 2020 to 2027 the robotics market size would increase by a CAGR of 13.5%. By 2027, it is expected to reach the $189.36 billion mark.
• The industrial robot market size is expected to grow by a CAGR of 11.5 percent during the forecast period.
• According to the robotic arm market research, the top global service providers are Fanuc | Yaskawa | ABB | Kawasaki | Nachi | Denso | Kuka.

Industrial Robotics-Market Overview

• There is an increase in demand for industrial robots in recent years as companies are striving to improve the productivity of their complex production lines. Other priorities include cost savings, improving quality and increasing manufacturing flexibility by means of automation.

• Recent trends in robotics have led to the introduction of innovative technical improvements with robots possessing human traits such as intelligence, object recognition, flexibility, and learning ability which are fast adopted by manufacturing companies.

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

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

•  At the end of 2019, Soft Robotics mGrip gripper system innovation helped the company raise $23 million. They also entered into a partnership with Fanuc. More such innovations in the field of control automation are expected that would affect the industrial robotics market.

Industrial Robotics End-user Market(2015)

• Automotive industry has witnessed increased investments in automation and continues to be a major end user of industrial robots industry. In 2015, about 97500 units of robots were sold with an increased sales of 4 percent from 2014.
• Due to modernization and recent investments in new production lines by major automotive markets, there has been a rise in robot installations and robot sales in automotive industry increased at CAGR of 20 percent between 2010 to 2015.
• As manufacturers are trying to use new materials and develop energy efficient drive systems combined with high competition across major car markets, the automotive industry is poised for investments and is set to drive the growth of robotics in the near future
• In 2015, Robot sales to the electronics industry rose by about 41 percent from 2014 to gain a market share of about 25 percent.
• Increasing demand for electronic products and increasing automation of production lines contributed to the sale of about 64600 robot units in 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

COVID-19 has led to an increase in the need for robotics technology to assist medical staff. Hospitals have been using robots in various functional areas. This ranges from carrying out temperature scans to disinfecting hospital areas to deliver medications to patients. The robot made by Blue Ocean Robotics has been used in Wuhan to bring things under control.

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.

Market Overview

• According to industrial robotics market analysis, labor acts as a threat of substitution for the robotics industry. Cheap manual labor is a major threat area to look out for.
• The North American industrial robot market size has a growth rate (2018–2025) of 18–19% CAGR.
• The Latin American industrial robot market size has a growth rate (2018–2025) of 9–10% CAGR.
• The Europe 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 robotic arm market research shows that the dual-arm robot has two arms, which are capable 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).