The global robotics market size was valued at $12,153.1 million in 2020, and is expected to reach $149,866.4 million by 2030, with a CAGR of 27.7% from 2021 to 2030. The scope considered in the study is limited to robotics that is used for disinfection, shelf scanning, RFID scanning, delivery, security & inspection, and advertising for commercial operations. Disinfection robots are used to disinfect surfaces of things that are kept in its surrounding. In addition, shelf scanning and RFID scanning robots are used for inventory management. Moreover, delivery robots are used for transportation of goods and packages from one place to another. Furthermore, security & inspection robots are used for surveillance of indoor and outdoor surroundings of a facility. Advertising robots are used to advertise products to potential customers by interacting with them personally.
The robotics market is mainly driven by rise in demand for disinfection equipment. The rise for disinfection robots raised significantly after the outbreak of COVID-19. Disinfection robots claim to kill the COVID-19 virus. Therefore, sales of disinfection robots raised significantly. These robots were deployed in hospitals, airports, transportation tools, hotels, restaurants, and other similar facilities. In addition, delivery robots in warehouses can work continuously. The cost of operating these robots is much less compared to that of the human wages. Thus, these robots help in reducing the labor cost in commercial, residential, and industrial facilities. However, a human cannot work continuously for 24x7 without break. Moreover, there is need for 24x7, uninterrupted surveillance at several facilities such as healthcare, warehouses, retail stores, and similar other places. A human cannot be appointed for the entire time to carry out surveillance at these facilities. However, a robot can carry out the operation without error 24 x 7 without interruption. All such factors are driving the robotics market across the globe.
However, cost of hardware and operating software of robots is high. This results in high initial investments to deploy robots. High cost of robots is not economical for small and medium sized businesses. In addition, several robots still lack proper operating system, therefore, are not feasible to be used for commercial purposes. These factors act as restraints for the robotics market growth.
In addition, during the outbreak of the COVID-19 pandemic, construction, manufacturing, hotels, and tourism industries were majorly affected. Manufacturing activities were halted or restricted. Manufacturing and transportation activities, along with their supply chains, were hampered on a global level. This led to decline in manufacturing of robotic systems as well as their demand in the market, thereby restraining growth of the robotics market. However, demand for robots such as disinfection robots and delivery robots grew significantly. This balanced downfall of the market. Conversely, industries are gradually resuming their regular manufacturing and services. This is expected to lead to re-initiation of robotics companies at their full-scale capacities, which is expected to help the robotics market to recover by the mid-2021.
On the contrary, as the demand for robotics is continuously rising, R&D to invent new technology and make robots efficient is continuously growing. In addition, several robotic exhibitions are being held.
Developers and innovators of robotics participate in these exhibitions to acquire funding from market leaders as well as from investors for R&D. For instance, Bossa Nova Robotics, a developer of shelf scanning robots has received around $40 million from investors to develop innovative technologies that can help shelf scanning robots to commercially enter the market and operate efficiently. . Moreover, the market is rapidly developing therefore several new start-ups are entering the business. Similar strategies are being followed by several other innovators. Such activities are expected to boost the robotics market during the forecast period.
By Application
Shelf scanning segment is projected to grow at a significant 46.5% CAGR
The global robotics market is segmented on the basis of application, end user, and region. On the basis of application, the market is divided into disinfection, shelf scanning, RFID scanning, delivery, security & inspection, and advertising. The security & inspection segment generated the highest revenue in 2020. On the basis of application, the market is divided into automotive, retail, healthcare, electronics, and others. The retail segment dominated the market in 2020.
Region wise, the global robotics market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Europe was the highest contributor to the global robotics market share, and is anticipated to secure a leading position during the forecast period. In addition, LAMEA is expected grow at the highest CAGR during the forecast period.
By End User
Others segment is expected to grow at a significant rate during the forecast period.
Competition Analysis
Key players profiled in this report include Blue Ocean Robotics, Brain Corporation, Fetch Robotics, Inc., Honeywell International Inc., Motorola Solutions, Inc., RoboAds, Siemens, Simbe Robotics, Inc., SMP Robotics and Xenex Disinfection Services Inc.
The key players in this market adopted product launch, partnership, acquisition, agreement and business expansion as their key strategies to meet the changing consumer demands.
By Region
Europe holds a dominant position in 2020 and LAMEA is expected to grow at a highest rate during the forecast period.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current trends and future estimations.
- Extensive analysis of global robotics market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The global robotics market forecast analysis from 2021 to 2030 is included in the report.
- The key market players within the global robotics market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the global robotics market.
Robotics Market Report Highlights
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Analyst Review
The global robotics witnessed a huge demand in Europe followed by North America and Asia-Pacific. The highest share of the Europe market is attributed to increase in demand for robotics in retail and healthcare sectors.
Robotics reduces human workload; hence, it is widely adopted in industries where lots of human efforts are needed. The benefits associated with robotics include high work efficiency, time & cost saving, accuracy in work, and efficient data collection.
Rise in demand for automation in the commercial sector globally fuels growth of the robotics market. In addition, huge demand for alternative to carry out human work is expected to provide lucrative opportunities for growth of the robotics market.
Moreover, major players such as Motorola and Simens AG are adopting strategies such as product launch, partnership, acquisition, agreement, and business expansion as their key strategies to meet changing consumer demands. All such strategies drive growth of the robotics market, and is anticipated to further boost the market during the forecast period.
The robotics market was valued at $12,153.1 million in 2020, and is expected to reach $149,866.4 million by 2030, registering a CAGR of 27.7% from 2021 to 2030.
The forecast period considered for the global robotics market is 2021 to 2030, wherein, 2020 is the base year, 2021 is the estimated year, and 2030 is the forecast year.
To get latest version of global robotics market report can be obtained on demand from the website.
The base year considered in the global robotics market report is 2020.
The top companies holding the market share in the global robotics market report include Blue Ocean Robotics, Brain Corporation, Fetch Robotics, Inc., Honeywell International Inc., Motorola Solutions, Inc., RoboAds, Siemens, Simbe Robotics, Inc., SMP Robotics and Xenex Disinfection Services Inc.
The top ten market players are selected based on two key attributes - competitive strength and market positioning
By application, the security & inspection segment dominated the global robotics market, in terms of revenue and is expected to maintain this trend during the forecast period.
By end user, the others segment is the highest share holder of global robotics market.
The report contains an exclusive company profile section, where leading 10 companies in the market are profiled. These profiles typically cover company overview, geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
The market value of the global robotics market is $16,540.3 million in 2021.
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