Northbrook, IL -- (SBWire) -- 04/21/2021 --According to MarketsandMarkets, the top robotics market is projected to grow from USD 76.6 billion in 2020 to USD 176.8 billion by 2025; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 18.2% from 2020 to 2025. Collaborative robots are becoming more affordable and easier to program for novice users, leading to growing demand for collaborative robots across all industry segments. Service robots are increasingly being adopted for new applications due to various advantages such as increased productivity, streamlined processes, and greater workplace safety. The main advantage of using service robots is the reduction in the cost of operation and high ROI. The objective of the report is to define, describe, and forecast the top robotics market based on type, component, environment, application, industry, and region.
Articulated robots are estimated to hold the largest share of the top industrial robotics market in 2020
Articulated robots are most commonly used in industries worldwide. They have the most number of axes compared to other types of industrial robots. The wrist of the robot can be fitted with a wide variety of end-effectors such as grippers and vacuum cups. These robots have been around for a much longer time than collaborative robots, which have only gained traction in the last decade. Industries such as automotive, electronics, and metal account for the major use of these robots as their production process imperatively needs to be heavily automated. As long as these industries thrive, articulated robots will dominate the market.
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Ground service robots are estimated to hold the largest share of the top service robotics market in 2020
The ground environment constitutes of automated guided vehicles (AGVs), cleaning robots, agricultural robots, surgical robots, entertainment robots, inspection robots, humanoid robots, powered exoskeletons, telepresence robots, among others. Ground service robots dominated the market. Ground robots are used for applications such as surgeries, cleaning, and elderly care and communication through telepresence and assistance.
Medical application is estimated to hold the largest share of the top service robotics market in 2020
With the growing aging population that requires more care, robots are being developed to support both patients and medical staff. Medical assistive robots are also used to assist surgery and diagnosis by delivering necessary equipment or carrying instruments and other medical products; rehabilitation robotics help in assisting patients. The advantage of minimally invasive surgery is fueling the growth of medical robots. In 2019, according to the United Nations, there were 703 million people aged over 65 years. The high number of senior citizens and higher disposable income due to urbanization have aided the demand for minimally invasive surgery.
The food & beverages industry in the top industrial robotics market is projected to grow at the highest CAGR from 2020 to 2025
The industrial robotics market for the food and beverage industry is expected to grow at the highest CAGR during the forecast period. Automation in the food & beverage industry is comparatively different from other industries. Components or products are often not uniform in shape, size, weight, and texture. These objects have to be manipulated at a sufficiently fast speed without any damage. With technological advances in end effectors such as soft grippers, applications for traditional industrial robots now involve meat processing, handling of fruit and vegetables, and pick-and-place of processed foods besides packaging and palletizing. Collaborative robots are increasingly being used in the food industry. For instance, Orkla Foods (Sweden) currently uses UR10 robot from Universal Robots (Denmark) for packing ice cream bags in cartons.
APAC is leading the top industrial robotics market and is projected to grow at the highest CAGR from 2020 to 2025.
APAC held the largest share of top industrial robotics market in 2019. Although APAC lost some of its share compared to other regions in 2018, it still held the largest share of the market in 2019. A decrease in sales of industrial robots in countries such as China due to the fall in demand in the automotive sector and the effects of the US-China trade war are mainly responsible for the slowdown. As a result, major industrial robot manufacturers posted a lower than expected growth and revenue for the year ending 2018. The market growth in APAC is still expected to be the highest, as China recovers itself in the coming years and other countries like Taiwan and Thailand push for further automation. Increasing labor costs in APAC is also forcing manufacturers to automate to maintain their cost advantage. Therefore, strong growth for collaborative robots is expected in APAC.
Industrial Robotics Market Is Projected to Grow at the Highest CAGR from 2020 to 2025