The Global Commercial Robots’ Market Size is valued at 15.38 billion in 2022 and is predicted to reach 80.05 billion by the year 2031 at a 20.25% CAGR during the forecast period for 2023-2031.
The increasing demand for commercial robotics due to technological improvements and investments in research and development (R&D) in robotics is one of the main drivers fueling the expansion of the worldwide commercial robotics sector. Due to an increase in the use of cutting-edge weapons and robots in the military and defense, as well as an increase in the amount of money invested in the region's defense industry. In addition, several significant market players, increasing deployment of surveillance security robots in the commercial sector, and several technical developments.
Additionally, the market is anticipated that several businesses along the value chain that have made significant investments in developing cutting-edge security solutions that can completely replace human intervention while reducing the average operational cost of security robots will significantly contribute to the global market expansion in the years to come.
The growth of startups, increased expenditures in automation, rigorous government rules on handling hazardous chemicals and products, the introduction of smart factories, and the ongoing shift from manual to robotic procedures are the leading factors driving the global market for commercial robots. Furthermore, the need for security robots is projected to expand due to several security concerns. Advanced automation techniques are expected to be widely used worldwide during the forecast period.
Recent Developments:
- In April 2022, Yaskawa Company invented an industrial robot with artificial intelligence that recognizes the color and form of products and carries them to their designated location. According to the demands of the time, the Yaskawa corporation is evolving in different industries, including the automobile industry and components manufacturing. The robots also communicate with one another in order to function more autonomously and effectively.
Competitive Landscape:
Some of the major Commercial Robots market players are:
- iRobot Corporation
- Kuka AG
- 3D Robotics Inc.
- Omron Adept Technologies Inc.
- Northrop Grumman Corp.
- AeroVironment Inc.
- Honda Motor Company Limited
- Yaskawa electric corporation
- Alphabet Inc.
- Accuray Inc
Market Segmentation:
The commercial robot's market is segmented based on type and application. Based on type, the commercial robot's market is segmented as drones, field robots, medical robots, autonomously guided robots and others. Application segment includes medical & healthcare, defense & security, agriculture & forestry, marine and others.
Based On Application, The Defense & Security Segment Is A Major Contributor To The Commercial Robots Market
The defense & security category will hold a major share of the global commercial robots' market in 2022. The next stage of military progress is military robots' automation of defense processes. International interaction is facilitated by the Internet's addition of automated systems and networking. The military industry has invested more money in security and surveillance during the previous ten years. Government investment in the defense sector is rising, expanding market expansion prospects. Additionally, growing international tensions are driving up demand for automation in the defense sector.
Automatic Guided Vehicles (AGV) Segment Witnessed Growth At A Rapid Rate
Automatic Guided Vehicles (AGV) are utilized extensively in automatic logistics systems due to their adaptability and effectiveness. Ongoing process automation in other industry verticals and sectors is driving market expansion. The market expansion is also anticipated to be caused by technological advancement, rising awareness of the benefits of autonomous robots in emerging economies, and expanding application areas for autonomous robots. Over the past several years, the explosive development of the e-commerce industry has been the primary factor fueling demand for AGVs in the logistics industry.
The North America Commercial Robots' Market Holds A Significant Revenue Share In The Region
The North American commercial robots' market is predicted to report the most increased market share in revenue shortly. Due to an increase in the use of cutting-edge weapons and robots in the military and defense, as well as an increase in the amount of money invested in the region's defense industry. In addition, several significant market players, increasing deployment of surveillance security robots in the commercial sector, and several technical developments.
In addition, Asia Pacific is projected to grow rapidly in the global commercial robot's market. Numerous industries are fueling the expansion of commercial use. A rise in the preference to make online purchases is anticipated to promote the development of the usage of these robots in the e-commerce business. In contrast, an anticipated labor shortage will broaden their application in the industrial sector. E-commerce companies are using industrial and commercial robots to increase the effectiveness of their supply chains by placing them in their warehouses and distribution centers.
Commercial Robots Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2022 |
USD 15.38 Bn |
|
Revenue forecast in 2031 |
USD 80.05 Bn |
|
Growth rate CAGR |
CAGR of 20.25% from 2023 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million, and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Type And Application |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
iRobot Corporation, Kuka AG, 3D Robotics Inc., Omron Adept Technologies Inc., Northrop Grumman Corp., AeroVironment Inc., Honda Motor Company Limited, yaskawa electric corporation, Alphabet Inc., Accuray Inc. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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