Global Robotics Market worth US$ 531.9 Billion 2029 with a CAGR of 26.0%

 The report "Global Robotics Market, By Type (Industrial Robots, Service Robots, and Mobile Robots), By Component (Sensors, Control Units, Actuators, Brake Systems, Vision Systems, and Others), By Application (Household, Entertainment, Defense, Field, Healthcare, Infrastructure, and Space Mission), and Region - Global Forecast to 2029" Global robotics market is projected to grow from US$ 44.0 billion in 2020 to US$ XX.X billion by 2029. Technological advancements and increasing demand for automation in automotive industry across the globe is the key factor to driving the global robotics market. In addition, growing concerns associated with the labor safety, along with rising adoption of robotics in various organizations in order to automate processes for delivering high-quality products, manufacturing capabilities, and managing processes are fuelling growth of the target market. Furthermore, growing adoption of tablets and smartphones is expected to boost growth of the global robotics market over the forecast period in the near future.

Increasing technological advancements in order to develop compact, cost-effective, and energy efficient robotic solutions are expected to create growth opportunities for the key players operating in the global robotics market.

Key Highlights:

  • In October 2018, for instance, iRobot Corporation has announced collaboration with Google to integrate robotic and smart home technologies which will advance the next-generation smart home.
  • In November 2016, for instance, Northrop Grumman Corporation has begun a public-private partnership with NASA -Space Technology Mission Directorate (STMD) in order to establish a Commercial Infrastructure for Robotic Assembly and Services (CIRAS) in space.

Key Market Insights from the report:          

The global robotics market accounted for US$ 44.0 billion in 2020 and is projected to register a CAGR of 26.0% over the forecast period. The market report has been segmented on the basis of type, component, application, and region.

  • By type, the industrial robots segment accounted for major revenue share in 2018, owing to surge in labor charges worldwide, which in turn has enforced manufacturers to replace human labor with machines.
  • By component, the actuators segment accounted for major revenue share in 2018, owing to its excellent properties such as high durability, low maintenance, water-resistance, and reliability. Increased need for automation in non-conventional areas, such as microelectronics, has also increased demand for industrial robotics.
  • By application, the defense segment accounted for major revenue share in 2018 due to its wide variety of applications in defense forces across the globe.
  • By region, Asia Pacific robotics market accounted for major revenue share of the global robotics market and is further anticipated to maintain its dominance over the forecast period. This can be attributed to increasing preferences to use robotic machines by the individuals in the countries especially in the U.S. of the region, not only for electronic, automation, and agriculture purpose. The market in Asia Pacific is expected to account for second-highest revenue share in 2018.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on "Global Robotics Market”, By Type (Industrial Robots, Service Robots, and Mobile Robots), By Component (Sensors, Control Units, Actuators, Brake Systems, Vision Systems, and Others), By Application (Household, Entertainment, Defense, Field, Healthcare, Infrastructure, and Space Mission), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)- forecast till 2029

To know the upcoming trends and insights prevalent in this market, click the link below:

Links

https://www.prophecymarketinsights.com/market_insight/Global-Robotics-Market-By-Type-486

The prominent player operating in the global robotics market includes iRobot Corporation, Boston Dynamics Inc., Touch Bionics Limited, Northrop Grumman Corporation, Rethink Robotics, Inc., Accuray Incorporated, Liquid Robotics Inc., QBotix Inc., Prox Dynamics AS, Honda Motor Co. Ltd., and Robert Bosch GmbH.

About Prophecy Market Insights

Prophecy Market Insights is a specialized market research, analytics, marketing and business strategy, and solutions company that offer strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high value opportunities in the target business area. Also, we help our client to address business challenges and provide best possible solutions to overcome them and transform their business.

Contact Us:

Sales

Prophecy Market Insights

Email- sales@prophecymarketinsights.com


Comments

Post a Comment

Popular posts from this blog

Eggshell Membrane Market – with Chockfull Opportunities for Investors from 2019 to 2029.

Image
The eggshell membrane market accounted for US$94.7 Million in 2019 and is estimated to be US$247.9 Million by 2029 and is anticipated to register a CAGR of 10.1%. The report " Eggshell Membrane Market , By Type (Hydrolyzed and Unhydrolyzed), By Application (Nutraceuticals, Food & beverages, Cosmetics & Personal Care Products, Pharmaceuticals, and Other Applications), By Product (Capsule, Tablet, Powder, and Other Products), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029” . Key Highlights: In March 2020, Stratum Nutrition’s natural eggshell membrane has received confirmation in a new independent study that it can reduce joint pain and stiffness in patients with grade 2 and 3 osteoarthritis knee (OA). The new statistics show that the ingredient made from upcycled eggshell membranes can take effect within seven to ten days, with clinically meaningful benefits persisting for 90 day...
Read more

Hydroxychloroquine Market is estimated to be US$ 2.7 Billion by 2029 with a CAGR of 5.3% during the forecasted period.

Image
H ydroxychloroquine   market accounted for US$ 1.6 billion in 2019 and is estimated to be US$ 2.7 billion by 2029 and is anticipated to register a CAGR of 5.3% Global hydroxychloroquine market size is expected to register growth over the forecast period to its applications in the pharmaceutical sector. The drug is used for treating and preventing malaria which is caused by mosquito bite. It is also used in the treatment of autoimmune diseases including lupus and rheumatoid arthritis. Recently, hydroxychloroquine is being studied for the treatment of coronavirus spread which will boost the overall market growth. The report  " Global   Hydroxychloroquine Market, By  Disease Type (Coronavirus Disease (COVID-19), Malaria, Q Fever, Rheumatoid Arthritis, Lupus Erythematosus, Porphyria Cutanea Tarda (PCT), and Other Disease Types), By Distribution Channel (Specialty Drug Store, Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy),  and By Region (North America, Eu...
Read more

Atherectomy Devices Market is estimated to be US$ 1207.81 million by 2030 with a CAGR of 8.4% during the forecast period.

Image
Atherectomy devices were developed to permit drilling, grinding, or sanding of atheroma, calcium, and excess cellular material from the site of coronary occlusion or stenosis. Both mechanical and laser-based approaches are used. It is a minimally invasive procedure similar to angioplasty. It is performed to cut away plaque that has built up in the arteries. After the plaque is removed, a stent may be placed to keep the artery open. The continuous rise in the artery blockage in the geriatric population and the cardiovascular diseases give rise to number of atherectomy procedures hence increasing the target market. As the atherectomy procedure is easy, less infectious and has a minimal surgery procedure and complications, it is more preferred over the surgical procedures. Region Analysis: In this target market, North America has the largest share in the global atherectomy device market followed by other regions. This can be attributed to high prevalence of the peripheral and coronary ar...
Read more