R&D spending in the robotics sector: Key market research findings
- Growing demand for industrial robots from non-automotive industries
- Development of collaborative robots
- Key players are ABB, iRobot, Yaskawa Electric, Kawasaki Heavy Industries, and KUKA
Technavio has added a new report on the global R&D spending market in the robotics industry, which will grow at a staggering CAGR of around 17% between 2016 and 2020. Robots have become a crucial part of almost all industries that use production processes and systems. The global expenditure on R&D in the robotics industry is rapidly increasing owing to rise in funding from both governments and manufacturers. The robotics industry has a lucrative future, which is boosting high investments in R&D by start-ups which focus on developing back-end applications and robot original equipment manufacturers (OEMs) such as KUKA and iRobot. In addition, governments worldwide are investing in robotics and encouraging both big and small companies to increase their R&D efforts. APAC will continue to dominate the market during the forecast period, by occupying around 47% of the total market share. Many venture capitalists and research organizations are collaborating with Chinese manufacturers to introduce new robots. Moreover, the surging labor costs in China have triggered the demand for industrial robots in the automotive, F&B, and electricals and electronics industries, aiding significantly to the growth of this market in the coming years.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
Small payload applications, such as material handling and assembly, in several industries have led to the development of robots that work in close collaboration with humans. With advances in technology, vendors are coming up with such collaborative robots that can lift heavy workloads. For instance, FANUC has introduced the CR-35iA, a heavy-lifting industrial collaborative robot that is equipped with integrated vision technology which automatically stops the robot contact with human operators, and ensures a safe working environment. This robot has the potential to lift loads weighing up to 77 lbs,” says Bharath Kanniappan, Lead Analyst, Industrial Automation, Technavio Research.
The defense sector dominated the market during 2015 and accounted for around 28% of the total market share. The rising funding from countries such as the US, Germany, Russia, and China will drive R&D investments in the defense sector during the forecast period. In this sector, a major part of the total R&D investment is used for the development of unmanned aerial and ground vehicles, as there is a high demand for these vehicles for military and commercial applications.
The key players in the market include ABB, iRobot, Yaskawa Electric, Kawasaki Heavy Industries, and KUKA. Since the field of robotics technology demands continuous exploration and innovation, there are a lot of untapped opportunities, especially in the field of healthcare and defense. This prompts many robot OEMs and new start-ups to innovate and invest in this technology. The major vendors such as ABB, iRobot, and KUKA are investing heavily in R&D to remain ahead in the market. Similarly, new start-ups such as Airware and Medrobotics are focusing on the development of healthcare and defense robots. These new start-ups are being funded by venture capitalists such as Fenox Venture Capital.
A more detailed analysis is available in the Technavio report, Global R&D Spending Market in the Robotics Industry 2016-2020.
We can customize reports by other regions and specific segments upon request.
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