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The commercial robotics market size is forecast to increase by USD 31.39 billion, at a CAGR of 26.39% between 2023 and 2028.
The commercial robotics industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The medical and healthcare segment is estimated to witness significant growth during the forecast period.
In the dynamic the market of 2023, the healthcare sector holds a significant share due to its application in various tasks, including long-term care, public service, patient monitoring, and home-based care. For instance, during the pandemic, robots were employed in hospitals to deliver food and medicines to COVID-19 patients, ensuring safety and efficiency. In the realm of healthcare provision, advanced technologies such as artificial intelligence (AI) and machine vision are transforming surgical procedures. BLK-Max Super Specialty Hospital in India, for one, introduced an AI-enabled robotic system for joint replacement surgeries, enhancing accuracy, minimizing blood loss, and ensuring a well-balanced joint.
Moreover, mobility platforms are revolutionizing industrial automation by enabling seamless transportation of goods within factories and warehouses. These platforms, integrated with IoT and data analytics, optimize operational efficiency and predictive maintenance, thereby reducing maintenance costs and enhancing cost savings. Regulatory compliance and safety protocols are crucial considerations in the deployment of commercial robots, ensuring a harmonious integration of man and machine. Autonomous navigation and path planning are essential features of mobile robots, enabling them to navigate complex environments and optimize supply chain management. Robotic arms, sensor fusion, and deep learning are integral components of industrial automation, driving productivity gains and enhancing operational efficiency.
The integration of these advanced technologies, however, poses challenges in terms of data privacy and data analytics. In conclusion, the market is characterized by the integration of various advanced technologies, including AI, machine vision, mobility platforms, and IoT, to optimize productivity, enhance operational efficiency, and ensure regulatory compliance. The market's evolution is driven by the need for cost savings, improved safety, and the integration of advanced technologies to streamline processes and improve overall performance.
The Medical and healthcare segment was valued at USD 2.79 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 48% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market in APAC is experiencing significant growth, with Japan, China, Singapore, and South Korea leading the way in manufacturing high-end robotics. The healthcare sector in Japan and Singapore is driving the adoption of commercial robotics, particularly in surgical applications. China, a pioneer in the adoption of surgical robots, is a major contributor to the market's growth. Government initiatives, increasing demand from the automotive industry, and a robust manufacturing sector are key factors fueling the market's expansion in APAC. Productivity gains and operational efficiency are primary benefits of commercial robotics, making them increasingly popular in industries such as food processing, supply chain management, and warehouse automation.
Safety protocols and regulatory compliance are essential considerations, with companies focusing on developing advanced safety features and complying with industry standards. Artificial intelligence, deep learning, and machine vision are integral to the development of advanced robotics, enabling capabilities such as predictive maintenance, autonomous navigation, and path planning. Integration challenges, such as IoT integration and sensor fusion, are being addressed through collaboration between robotics companies and technology providers. Robotic arms, mobile robots, and industrial automation are key areas of investment, with companies focusing on developing cost-effective solutions to increase return on investment and reduce deployment costs.
Data analytics and cloud connectivity are also essential components of modern commercial robotics, enabling real-time data processing and remote operation. Data privacy and maintenance costs are critical concerns for businesses adopting commercial robotics, with companies focusing on developing secure solutions and offering maintenance services to minimize costs. The market's evolution is expected to continue, with advancements in technology and increasing adoption across various industries.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The commercial robotics market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the commercial robotics market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, commercial robotics market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
3D Robotics Inc. - The company showcases a range of commercial robotics, including the H520G hexacopter, E90 camera, car charger adapter, SD card, DY5 dual smart charger, ST10C controller, propeller pairs, SC400-4H balancing smart charger, and Hardcase, all under the 3DR brand. These advanced technologies are designed to enhance operational efficiency and productivity. The hexacopter offers superior stability and maneuverability, while the high-definition camera captures clear, detailed imagery. Charging accessories ensure optimal battery performance, and the controller offers intuitive operation. The Hardcase provides durable protection during transportation. 3DR's commercial robotics deliver innovative solutions for various industries.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is experiencing significant advancements, driven by the integration of technologies such as natural language processing and machine learning for human-robot interaction. Virtual commissioning and software platforms enable user-friendly automation solutions, while digital transformation propels the adoption of robotics in various industries. Payload handling and motion control systems are essential components of robotic workforces, which are increasingly incorporating collaborative robots and ultrasonic sensors for task scheduling and fleet management. Machine learning algorithms facilitate data visualization and obstacle avoidance through computer vision and camera systems.
Robotic simulation and 5G connectivity streamline remote monitoring and API integration, allowing for voice control and edge computing capabilities. Laser scanners and robot programming further enhance the versatility of robotic systems in the manufacturing sector. Overall, these trends are shaping the future of robotics, offering businesses increased efficiency, flexibility, and productivity.
Dive into Technavio’s robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Commercial Robotics Market insights. See full methodology.
Market Scope |
|
Report Coverage |
Details |
Page number |
146 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 26.39% |
Market growth 2024-2028 |
USD 31394.2 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
22.68 |
Key countries |
China, US, Japan, Germany, and South Korea |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
We can help! Our analysts can customize this commercial robotics market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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