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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.
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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.
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