The Global Industrial Robotics Market was valued at USD 41.86 billion in 2017, and is expected to reach USD 73.51 billion by 2023, registering a CAGR of 9.84%, over the forecast period 2018 to 2023.Rapid expansion of the automotive industry and growing adoption of robotics in non automotive industry including chemicals, food and beverages ,rubber and plastics, electronics and electrical are stoking the growth of market.
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Advancement in artificial intelligence and development in sophisticated sensors projected to augment the development of self programming robots.By 2020, the automotive segment is expected to account for the largest revenue share of approximately 40.0%, which can be attributed to fact that robotics play vital role in the assembly of vehicles.
Top impact factors on the industrial robotics market growth are as follows:
- Rapid Industrialization and Automation
- High Initial Investment
- High Labor Cost and Lack of Skilled Workforce
The Global Industrial Robotics Market key segment by its Type, Region, Market Players, Function are:
By Type:
- Articulated
- SCARA
- Cylindrical
- Cartesian
By Region:
- North America
- Europe
- Asia-Pacific
- RoW
By Function:
- Soldering and Welding
- Assembling and Disassembling
- Materials Handling
- Painting and Dispensing
- Miling, cutting and Processing
- Others
Market Key Players:
- ABB Ltd
- Omron Adept Technologies
- Mitsubishi Electric Corporation
- YRG
- Toshiba Machine co.Ltd
- Panasonic Corporation
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The global programmable robots market is estimated to touch a valuation of USD 4 billion by 2023, at a CAGR close to 15% from 2018 to 2023 (forecast period), as per Market Research Future (MRFR).
Programmable robots are machines which can be remotely controlled or autonomous in nature with the help of a program kit.
Kids from KG-12 grades with impressionable minds are drawn towards these courses and contribute towards fostering the market growth.
Competitive LandscapeProminent players in the programmable robots market include Wowwee Group Ltd, The LEGO Group, Yujin Robot Co., Ltd., Honda Motor Co., Ltd, Fischertechnik GmbH, SuperDroid Robots Inc., iRobot Corporation, Toyota Motor Corporation, Robobuilder Co., Ltd., Ozobot & Evollve, Inc., Rouge Robotics, RobotShop Inc., VEX Robotics, Sphero, Evolution Robotics, Bossa Nova Robotics, and SoftBank Robotics.SegmentationThe programmable robots market is segmented by component and application.
Among the applications, the education segment is likely to generate significant revenue for the market till 2023 owing to the integration of robotics curriculum in schools and colleges.
In addition, the high sales of miniature robots and robotic pets have been evidence of the progress made by the market in recent years.Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/6840 Mobile applications are on an upward trajectory owing to the proliferation of smartphones.
Growth in need for mass production with reduced operation cost, surge in adoption of industry 4.0 and enabling technologies industries, increase in demand for IoT-based smart solution & automation in several industries for qualitative and reliable manufacturing drive the growth of the global SCARA robot market.
However, high expenditure associated with implementation of SCARA robots hampers the market growth.
On the contrary, rise in application areas of collaborative robots and increase in demand for automation in Asian countries are expected to create lucrative opportunities in the near future.Material handling segment dominated the marketBy type, the material handling segment held the largest share in 2019, contributing to nearly one-third of the global SCARA robot market, due to growth in electrical, food & beverages, and electronics sectors.
However, the assembling and disassembling segment is expected to register the fastest CAGR of 12.6% during the forecast period, owing to high growth in the electronic industry that demands SCARA robots for high-speed assembly task.Learn More on SCARA Robots: https://www.alliedmarketresearch.com/scara-robot-market-A06048 Pharmaceuticals segment to portray the fastest CAGR by 2026The pharmaceutical segment is expected to manifest the highest CAGR of 13.1% through 2026, owing to increased demand from the pharmaceutical industry to reduce repetitive tasks, save workers for hazardous environments, and reduce training overhead.
However, the electrical and electronics segment held the largest share in 2019, accounting for nearly one-third of the global SCARA robot market, due to high robot investment in production automation, retooling for new production process, and performing the handling operations in the industry.Europe held the lion's share, followed by Asia-Pacific and North AmericaThe market across Europe, followed by Asia-Pacific and North America, dominated in 2019, contributing to more than one-third of the market.
However, the global SCARA robot market across Asia-Pacific is expected to portray the fastest CAGR of 11.9% during the forecast period, owing to high adoption of robotics technology in small & medium enterprise and rise in investments in education and research infrastructure.Major market playersSeiko Epson CorporationABBOMRAN CorporationKawasaki RoboticsKUKA AGMitsubishi Electric CorporationDENSO Corporation (DENSO Robotics)Fanuc CorporationStäubli International AGYaskawa Electric Corporation
Security Robots Market Research Reports and Global Forecast 2027 Security robots are devices with locomotive capabilities, which can collect data for security purposes, and in some cases, act upon this data, if required.
Countries are focusing on making their militaries stronger and eliminating any serious casualty, which, in turn, leads to an increase in the demand for equipment efficient in removing threats to life.
The global security robots market is estimated to grow at 7.93% CAGR during the forecast period, 2018-2027.
The rise in the implementation of unmanned system solutions by military and defense forces and a surge in geopolitical issues across the globe are the drivers of the security robots market.
The rise in defense expenditure and the adoption of autonomous systems for security robots are the opportunities of this market.
These players try to grow and sustain in the market by adopting a mix of both organic and inorganic growth strategies.
NVIDIA looking for a Software Engineer AI (New College Grad) for our Robotics Team.
The team is building a robotics platform for developing the next generation of intelligent robots.
