Robotics Market

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 R&D on robotics market was hampered during the outbreak of COVID-19 pandemic. However, the demand for disinfection robots raised significantly throughout all the end user industries.

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.

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.

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. 

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