Technology Breakthrough in Robotics
Robotics have made its entry in several business sectors such as agriculture, healthcare, e-commerce, logistics, 3D-printing, domestic, security, space, automotive, electrical and electronics designing, mining, military, aerospace, unmanned aerial vehicles etc.
Robotics industry has witnessed dramatic advancements and innovations from past few years. Robots have found applications in both industrial as well as commercial sectors. Industrial robots such as articulated robots, SCARA robots, delta robots, and Cartesian robots are used in applications including arc welding, plasma welding, painting, assembly, pick and place for printed circuit boards, material handling, cutting, packaging and labeling, palletizing, product inspection, and testing. According to International Federation of Robotics (IFR), the industrial robot sales has increase by 16% in 2016 breaking its own sales record. Automotive and electrical/electronics industry are the major growth driving sectors for industrial robots. Asian market for electrical and electronics robots and European market for automotive robots have continued to be the key revenue pockets for industrial robotics.
Increasing demand for automation from these sectors, and technical advancements along with the increased investments in emerging technologies are some of the major factors driving the growth of robotics market. Furthermore, the penetration of automation in small and medium size enterprises (SMEs) and increasing use of collaborative robotics are expected to give a dramatic push to the robotics industry. Strategic partnerships between manufacturers and technology suppliers, mergers & acquisitions, and penetration in innovative technologies are the major trends recently being followed by leading robotics companies to develop smart and intelligent robotics platforms. FANUC, KUKA, Universal Robots, Yaskawa Motoman, and ABB are some of the brand names in industrial robotics market capturing high market share.
Besides, the industrial robotics, high robotics investments are recorded in commercial sectors such as healthcare, unmanned systems, 3D printing, logistics, e-commerce, agriculture, domestic, security, and space. Autonomous Guided Vehicles (AGVs) which ranges from $35,000 to $50,000 are the most common type of robots used in commercial industries especially the e-commerce. Drones and medical robots are viewed as most quickly adopted and enhanced types of robots. The aerospace medical sectors are viewed as highly opportunistic markets for next 10 years for commercial robotics. The major factors enhancing the growth of commercial robotics market includes the technological advancement, public awareness, increasing production rate, demand for automation and affordability. Moreover, the penetration of innovative technologies such as Internet of Things (IoT) and Artificial Intelligence (AI) in commercial as well as industrial robotics have pushed the boundaries of robotics industry and accelerating the future market growth.
M14 Intelligence offers you with the comprehensive study on growth prospect of industrial and commercial robotics industry. Our exhaustive market outlook on industrial and commercial robotics helps you to understand the demand of robotics and target markets in various emerging industries.