The Global Robotics Technology Market attained a market size of $49,780.0 Million in 2015 and is expected to reach $108,214.3 Million by 2022 growing at a CAGR of 12.3% CAGR during 2016 - 2022.
Custom robots are widely sold, which are specific to market needs. The robots are built to address niche application areas, which would make robots a widely accepted phenomena. Various players operating within the market offer industrial robots, mobile robots, service robots, autonomous robots and modular robots to meet the growing needs of the customers. Industrial robots are used to automate manufacturing processes; whereas, service robotics found to be useful in healthcare and domestic sectors to enhance quality of life. Differentiated products and merger and acquisitions are the top business strategies adopted by market players in the robotics market.
Wide range of robots are already finding place in the business world for diverse activities such as industrial robots, service robots, and mobile robots. Among the aforementioned robots available, the industrial robots hold a major share in the global market, largely due to its wide adoption in the manufacturing sector for automating processes. On the other hand, the market for Service robotics would rapidly grow during the forecast period due to its growing adoption in healthcare and domestic sector.
The report highlights the adoption of Robotics Technology, globally. Based on the type, the Robotics Technology market is segmented into Industrial Robotics, Service Robotics, Mobile Robotics and Others Robotics. Based on the Application, the market is segmented across Healthcare Robotics, Defense and security Robotics, Aerospace Robotics, Automotive Robotics, Electronics Robotics, Domestic Robotics. The geographies included in the report are North America, Europe, Asia-Pacific, Middle East and Africa. For the better analysis, the geographies are segmented into countries.
Major players profiled in the report include ABB Group, Adept technology, Yaskawa Electric Corporation, Fanuc Corporation, iRobot Corporation, KUKA AG, Intuitive Surgical Inc., Honda Motor Co., Ltd, Yamaha Corporation and Kawasaki Heavy Industries.