Technavio’s market research analysts estimate the global robotics market to reach around 14 million units by 2019. The automotive sector is the major revenue contributor of this market. APAC is the new frontier for industrial robotics and contributed around 32% of the global market share in 2014. An increased market demand for robots comes from China, India, and Malaysia.
The robots market is broadly categorized into industrial robotics and service robotics, where the latter accounts for the largest market share in the global robotics market. The service robotics segment is estimated to grow at a CAGR of around 27% between 2015 and 2019. However, a significant market demand is emerging from developing countries for the industrial robotics segment. This demand is arising from the automotive, electrical and electronic and F&B industries for diverse applications.
Service robotics market include personal/domestic robots and professional robots. The former dominates the overall service robotics market with a share of around 99%m owing to their increased implementation in both household and for entertainment purposes.
Global Service Robotics market 2015-2019 (thousand unit shipment)
Source: Technavio Research
“Vendors are proposing next-generation robotics systems to manufacturing companies. For example, independent robots that are developed with the use of artificial intelligence; these can perform a broad range of tasks independently. Vendors are offering collaborative robots that can interact with the human workforce, and which can help to achieve a collaborative production process,” says Navin Rajendra, Lead Analyst, Engineering and Automation, Technavio Research.
The key vendors dominating this market include ABB, FANUC, KUKA and Yaskawa Electric. Vendors based in the APAC region are overshadowing the market. Most of the industrial robots vendors offer articulated robots to various manufacturing industries.
A more detailed analysis is available in the Technavio report, Global Robotics Market 2015-2019.
https://www.technavio.com/%3Cp%3E%3Cu%3E%3Cstrong%3EWe%20can%20customize%…
