WESTFORD, Mass., June 24, 2024 /PRNewswire/ -- As
per SkyQuest, the Global Robotics Market size was valued at
USD 34.06 billion in 2022 and is
poised to grow from USD 39.71 billion
in 2023 to USD 135.68 billion by
2031, growing at a CAGR of 16.60% during the forecast period
(2024-2031).
Robots have been incorporated into manufacturing processes to
increase productivity and improve the quality of associated
vehicles. Digitization and the Industry 4.0 revolution are forcing
the growth of automation in companies to use advanced automated
solutions such as robotics and control systems to enhance their
production processes. Robotics uses many key elements of Industry
4.0, including connectivity and data included. Siemens recently
entered a joint venture with Google Cloud integrating Google
Cloud's data cloud and artificial intelligence/machine learning
technology with Siemens' factory automation solutions.
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Robotics Market Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
$ 39.71 billion
|
Estimated Value by
2031
|
$ 135.68 billion
|
Growth
Rate
|
Poised to grow at a
CAGR of 16.60%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and
Trends
|
Segments
Covered
|
Type, Application,
Purpose and End-user
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, Latin America
|
Report
Highlights
|
Updated financial
information / product portfolio of players
|
Key Market
Opportunities
|
Government initiatives
and fundings
|
Key Market
Drivers
|
Increasing Adoption of
Robots in the Logistics Sector
|
Segments covered in Robotics Market are as
follows:
- Type
- Industrial Robotics, Services Robotics
- Application
- Disinfection, Shelf Scanning, Delivery, Security &
Inspection, Advertising, Manufacturing, Others
- Purpose
- Domestic Purpose, Professional Purpose
- End-user
- Automotive, Logistics & Transportation, Agriculture,
Chemical, Healthcare, Entertainment, Electric, Domestic Service,
Others
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Boston Dynamics
Boston Dynamics is a pioneer in advanced robotics, known for its
sophisticated humanoid and quadruped robots. The company focuses on
building robots with sophistication, dexterity and mobility,
pushing the limits of what a robot can do.
Strategies
Commercialization: A shift from research sampling to commercial
products, targeting industries such as logistics and
manufacturing.
Advanced mobility: Investing heavily in research and development
to develop robots that can move at high speeds and navigate
difficult terrain.
Collaborative Robots: Examines how robots are integrated into
human workflows, with an emphasis on safety and
efficiency.
Recent News
Expanding Spot Applications (2023): Boston Dynamics has expanded
the applications of its Spot robot, including remote monitoring and
logistics support.
Contribution
Boston Dynamics' innovations in Dynamic Robotics have
dramatically improved the capabilities of robots in a variety of
industries.
iRobot
iRobot Corporation is a leading consumer robot company, known
for its Roomba autonomous vacuum cleaner and Braava robotic
mops.
Recent News
Roomba j7+ (2023) launched: Roomba j7+ will be introduced with
advanced AI navigation and obstacle avoidance capabilities,
providing more efficient cleaning and user convenience.
Strategies
Customer Insight: Constantly innovating to improve the
functionality and user experience of their robotic vacuum cleaners
and mops.
Expansion into smart homes: By integrating their robots into the
smart home ecosystem, users can remotely control and manage their
devices.
Diversify: Look for opportunities beyond vacuuming and mopping,
such as robotic lawn mowers and pool cleaners.
Contribution
iRobot Corporation popularized consumer robots, making robots a
common sight in homes around the world. Their focus on
user-friendly design and practical features has accelerated the
adoption of robots in everyday life.
ABB Robotics
ABB Robotics is a global leader in industrial robotics,
providing automation solutions for manufacturing processes and
industrial processes. The company offers a wide range of robots and
robotic systems to fit the needs of specific industries.
Strategies
Industrial Automation: Provision of robotic solutions for a
variety of manufacturing processes, including assembly, welding,
painting and material handling.
Collaborative Robots: Collaborative robots (cobots) that can
work with humans, increasing flexibility and productivity in
manufacturing facilities.
Digitization: Integrating robots with digital technologies such
as IoT, AI and cloud computing to enable predictive
maintenance and optimize production.
Recent News
Collaborative robot portfolio expansion: ABB has introduced
new cobot models with improved safety features and payload
capabilities, which take care of a wide range of products.
Partnering for Industry 4.0: Collaborate with other technology
companies to develop integrated solutions for Industry 4.0
initiatives, such as smart workplaces and digital twins.
Contribution
ABB Robotics has revolutionized industrial automation, enabling
manufacturers to improve productivity, quality and safety. Their
innovative robotic solutions play a key role in the transition to
simpler and more efficient manufacturing.
Universal robots
Universal Robots is a pioneer in collaborative robotics,
specializing in lightweight and easy-to-use robotic arms designed
to work with human workers. The company focuses on empowering
businesses of all sizes to automate routine tasks to increase
productivity.
Strategies
Cobots for Small and Medium Enterprises (SMEs): They offer
affordable and flexible cobots that are easy to use and program,
meeting the needs of SMEs with limited automation expertise.
Application flexibility: Cobots are built with versatile
end-effectors and modular design, allowing rapid adaptation for
different tasks and workflows.
Recent News
UR10e announced (2022): Universal Robots launched the
UR10e cobot, expanding its portfolio with a larger robot to
handle heavier loads and larger tasks
Expansion in Education (2021): Universal Robots partnered with
educational institutions to provide cobots for robotics
training and education programs.
Contribution
Universal Robots has democratized robotics by making automation
accessible to SMEs, empowering them to improve productivity
and competitiveness through flexible and cost-effective robotic
solutions.
Kuka Robotics
KUKA Robotics is a leading industrial robotics and automation
company, known for its high-performance robotics and innovative
solutions.
Strategies
Smart Factory Solutions: They provide integrated automation
solutions for smart factories and Industry 4.0
environments.
Robotic Systems Integration: Provide turnkey robotic systems and
integration services for various industries, including automotive,
aerospace, and logistics.
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Recent News
Launch of the KR QUANTEC Series (2023): KUKA introduced the KR
QUANTEC series of next-generation industrial robots, featuring
improved productivity, accuracy and flexibility.
Contribution
KUKA Robotics leads the way in industrial automation, driving
innovation with its advanced robotic solutions and system
integration expertise, helping to increase efficiency and
productivity in manufacturing and beyond.
Robotics Revolution: Pioneering Tomorrow's Automated
World
Robotics and AI truly have the potential to transform our world,
helping us navigate a rapidly changing future with greater
confidence and optimism. Whether we embrace or resist this emerging
technology, it will continue to play an increasingly important role
in all our lives.
While most humanoid robots remain in science fiction, robotic
machines are all around us. These technological innovations are
already helping us in many aspects of life and could change our
future.
Related Reports:
Service Robotics Market
Delivery Robots Market
Warehouse Robotics Market
Smart Robot Market
SCARA Robot Marketv
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Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization has expanded our
reach across North America,
Europe, ASEAN and Asia
Pacific.
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