Enjoy complimentary customisation on priority with our Enterprise License!
The commercial robotics market share is expected to increase by USD 36.33 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 29.58%.
This commercial robotics market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers commercial robotics market segmentation by application (medical and healthcare, defense and security, agriculture and forestry, marine, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The commercial robotics market report also offers information on several market vendors, including 3D Robotics Inc., Accuray Inc., AeroVironment Inc., Autel Intelligent Technology Co., General Electric Co., Honda Motor Co. Ltd., Intuitive Surgical Inc., Irobot Corp., KUKA AG, Northrop Grumman Corp., OMRON Corp., Smith and Nephew plc, Yaskawa Electric Corp., Yuneec International Co. Ltd., and Zimmer Biomet Holdings Inc. among others.
Download the Free Report Sample to Unlock the Commercial Robotics Market Size for the Forecast Period and Other Important Statistics
The rising demand for commercial robotics is notably driving the commercial robotics market growth, although factors such as high costs of robotic systems may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the commercial robotics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Commercial Robotics Market Driver
One of the key factors driving the global commercial robotics industry growth is the rising demand for commercial robotics owing to technological advancements and investments in research and development (R&D) in robotics. Securing sufficient production line capacity is becoming critical for small and medium-sized enterprises (SMEs). Labor shortages in countries such as Japan will exacerbate the issue. In addition, by 2050, the working-age population across the world is expected to decline significantly, especially in countries such as China, Japan, Germany, Russia, and France. Countries with a high degree of industrialization and a growing population of elderly people (over 65 years) are expected to witness a significant shortage of skilled personnel. Thus, there is an increased demand for application-specific robots from these end-users. Many vendors are developing customized robots to meet market demand and gain a competitive edge over their peers. Such factors will boost the market growth in the forecast period.
Key Commercial Robotics Market Trend
Integration of IoT with robotics is one of the key commercial robotics market trends that is expected to impact the industry positively in the forecast period. With the rising competition in the market, vendors are offering attractive commercial robotics with IoT capabilities in articulated robots, which provide real-time data regarding the performance of industrial machinery. For instance, in September 2021, GM installed a cloud network at its Lake Orion plant in the US in collaboration with FANUC, Cisco, and Rockwell Automation. The system records the data flow from robots and external devices, which is saved in the cloud for analysis. As a result of this networking, the company has successfully prevented 100 failures in the facility over the past two years. Various sensors placed in conjunction with articulated robots provide real-time information on machinery performance and maintenance requirements. Such technological advancements will further support the market growth in the coming years.
Key Commercial Robotics Market Challenge
One of the key challenges to the global commercial robotics industry growth is the high costs of robotic systems. Several end-users, especially in emerging economies such as India, are reluctant to buy high-priced commercial robotics. Furthermore, vendors need to invest in research and development (R and D) continuously to integrate advanced technologies in commercial robotics. Owing to this, several new and advanced models of commercial robotics are expected to be launched in the market in the forecast years. This is expected to increase the cost of the robots even further. Such an increase in the cost of robots is expected to hamper their adoption in industries, especially in India, countries in Africa, and other developing countries. Therefore, the high cost of robots stands as a major challenge for the growth of the global commercial robotics market.
This commercial robotics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global commercial robotics market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the commercial robotics market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the commercial robotics market encompasses successful business strategies deployed by the key vendors. The commercial robotics market is fragmented and the vendors are deploying growth strategies such as the expansion of distribution channels to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The commercial robotics market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the commercial robotics market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
For more insights on the market share of various regions Request for a FREE sample now!
49% of the market's growth will originate from APAC during the forecast period. China, Japan, and South Korea are the key markets for commercial robotics in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Government initiatives, increasing demand from the automotive industry, and the strong manufacturing sectors will facilitate the commercial robotics market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the commercial robotics market in APAC was severely impacted by the COVID-19 pandemic. Several governments in the region imposed nationwide lockdowns, and people were compelled to self-isolate in their homes. This had a negative impact on the market in focus in this region. However, in 2021, the initiation of large-scale COVID-19 vaccination drives and the administration of vaccines to a large part of the population living in the region led to a decrease in the number of COVID-19 cases. Thus, the market is expected to grow in the region during the forecast period, as several manufacturing units have resumed their manufacturing activities.
To gain further insights on the market contribution of various segments Request for a FREE sample
The commercial robotics market share growth by the medical and healthcare segment will be significant during the forecast period. Commercial robotics is used for various domesticated tasks such as long-term care, public service, monitoring patients, and other such activities in healthcare facilities as well as home-based care of patients. For instance, during the first half of 2020, a hospital in Chennai, India, used service robots to supply food and medicines to COVID-19 patients. Thus, the significant increase in the adoption of these robots will drive the market growth through this segment in the coming years.
This report provides an accurate prediction of the contribution of all the segments to the growth of the commercial robotics market size and actionable market insights on post COVID-19 impact on each segment.
Commercial Robotics Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 29.58% |
Market growth 2022-2026 |
$ 36.33 billion |
Market structure |
Fragmented |
YoY growth (%) |
23.23 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 49% |
Key consumer countries |
US, China, Japan, South Korea, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
3D Robotics Inc., Accuray Inc., AeroVironment Inc., Autel Intelligent Technology Co., General Electric Co., Honda Motor Co. Ltd., Intuitive Surgical Inc., Irobot Corp., KUKA AG, Northrop Grumman Corp., OMRON Corp., Smith and Nephew plc, Yaskawa Electric Corp., Yuneec International Co. Ltd., and Zimmer Biomet Holdings Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.