Robotics Market by Application and Geography - Forecast and Analysis 2020-2024

  • Published: Jul 2020
  • Pages: 120
  • SKU: IRTNTR44162
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The robotics market size has the potential to grow by $ 8.92 bn during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by application (industrial and services) and geography (APAC, Europe, North America, MEA, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including ABB Ltd., Clearpath Robotics Inc., FANUC Corp., Intuitive Surgical Inc., iRobot Corp., Midea Group Co. Ltd., Mobile Industrial Robots AS, OMRON Corp., Savioke Inc., and Yaskawa Electric Corp.

Market Overview

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Market Competitive Analysis

The market is fragmented. ABB Ltd., Clearpath Robotics Inc., FANUC Corp., Intuitive Surgical Inc., iRobot Corp., Midea Group Co. Ltd., Mobile Industrial Robots AS, OMRON Corp., Savioke Inc., and Yaskawa Electric Corp. are some of the major market participants. Factors such as technological advances in robot hardware will offer immense growth opportunities. However, shortage of skilled personnel may impede market growth. To make the most of the opportunities, vendors should focus on growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this robotics market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this robotics market analysis report provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • ABB Ltd.
  • Clearpath Robotics Inc.
  • FANUC Corp.
  • Intuitive Surgical Inc.
  • iRobot Corp.
  • Midea Group Co. Ltd.
  • Mobile Industrial Robots AS
  • OMRON Corp.
  • Savioke Inc.
  • Yaskawa Electric Corp.

Robotics Market: Segmentation by Geography

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The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. APAC will offer several growth opportunities to market vendors during the forecast period. improvement in robotic system integration services will significantly influence robotics market growth in this region.

60% of the market’s growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for robotics in APAC. This report provides an accurate prediction of the contribution of all segments to the growth of the robotics market size.

Robotics Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive robotics market growth during the next five years
  • Precise estimation of the robotics market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the robotics industry across APAC, Europe, North America, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of robotics market vendors

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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.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The robotics market market growth will increase by $8928.39 million during 2019-2024.
The robotics market market is expected to grow at a CAGR of 3.49% during 2019-2024.
Technavio has segmented the robotics market market by application (Industrial and Services) and geographic (APAC, Europe, North America, MEA, and South America).
ABB Ltd., Clearpath Robotics Inc., FANUC Corp., Intuitive Surgical Inc., iRobot Corp., Midea Group Co. Ltd., Mobile Industrial Robots AS, OMRON Corp., Savioke Inc., Yaskawa Electric Corp. are a few of the key vendors in the robotics market market.
APAC will register the highest growth rate of 59.73% among the other regions. Therefore, the robotics market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • China
  • US
  • Japan
  • Germany
  • South Korea (Republic of Korea)
The key factors driving the robotics market market growth are:
  • Technological advances in robot hardware
  • Improvement in robotic system integration services
The robotics market market vendors should focus on grabbing business opportunities from the industrial segment as it accounted for the largest market share in the base year.
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