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Global Robotics Market is Expected to be Grow at a Healthy Pace During 2021-2026, Aided by the Growing Global Industrial Robotics Industry

According to a new report by EMR titled, ‘Global Robotics Market Report and Forecast 2021-2026’, the global market for robotics to be aided by the growing global industrial robotics industry, which is expected to grow at a CAGR of 11% in the forecast period of 2021-2026 and is expected to reach USD 37.5 billion by 2026.

The global market of robotics is being significantly aided by the growing global industrial robotics industry. The increasing applications of robotics in several industries such as surgical assistance, exoskeletons, delivery vehicles, crewless aerial vehicles, personal assistance, and more are also aiding the market growth. Furthermore, the technological transformations associated with cognition, interaction, and manipulation, has led to the increasing attraction of robots across the globe. In the year 2020, with the outbreak of the COVID-19 pandemic, the market got a boost due to the increasing trend of ‘social distancing’, which significantly facilitated the growth of robotics. However, the coronavirus also hindered the market due to the travel restrictions and several lockdowns across the globe.

Companies like FANUC Corporation (US OTC: FANUY) and ABB Ltd. (US NYSE: ABB) have also facilitated in maintaining the demand across the globe for the product. On the basis of geography, the Asia Pacific is expected to be the major region driving the market demand, specifically due to the demand generated from regions like China and India, owing to the increasing adoption of robotics into several industries. In February 2021, the Indian mobility services provider, Ola, announced its partnership with ABB for Ola’s mega-factory, which is soon expected to start producing electric scooters. The robots provided by ABB are expected to be integrated into the AI-enabled mega-factory to enhance productivity, robot performance, and product quality. Such developments are expected to positively affect the market growth in the coming years.

Market Breakup by Applications and Region:

  • By type, the market is bifurcated into industrial and service robots.
  • In terms of applications, the market is divided into household, entertainment, military and defence, field and logistics, healthcare, infrastructure, mobile platform, and others.
  • Region-wise, the global market for robotics can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The market is significantly aided by the growing industrial robotics industry across the globe.
  • The increasing usage of robotics in applications like surgical assistance, autonomous vehicles, exoskeletons, and more is also aiding the market for robotics.
  • The increasing R&D activities, especially in the military and defence organisations, are further aiding the market growth. 
  • The increasing adoption of robotics in the healthcare sector is expected to drive the market in the forecast period.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for robotics for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the types, applications, and regional markets of robotics.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global robotics market include FANUC Corporation, ABB Ltd., Denso Corporation, Toshiba Infrastructure Systems & Solutions Corporation, Mitsubishi Electric Corporation, and Yaskawa Electric Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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