Commercial Robots Market By Type (Field Robots, Medical robots, Autonomous Guided Robotics, Drones, Others), By Application (Medical and Healthcare, Defense and Security, Agriculture and Forestry, Marine, Other): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global commercial robots market is envisioned to garner $85.2 billion by 2031, growing from $15.2 billion in 2021 at a CAGR of 20.0% from 2022 to 2031.
Commercial robots are devices utilized by businesses to replicate, assist, or replace the actions of humans. The superior service provided by commercial robots over traditional techniques is predicted to increase investment and utilization. Drones are becoming increasingly popular and are finding their way into a variety of uses, including commercial spaces.
The growing importance of the development of innovative medical treatments has expanded the market for commercial robot devices. The scope of robotic surgery and medical robotics has expanded with the inclusion of machine learning and artificial intelligence into the healthcare industry. The market's constant focus on research and development has led it to create novel, automated goods for the healthcare industry. Because of the excellent success rate of robotic operations, companies are developing automated surgical solutions, thus boosting the demand for commercial robots.
Commercial robotic systems require expensive installation and maintenance. They need constant voltage and power supply to operate. The cost primarily covers programming for the software. Companies are concerned about the high expenses of commercial robotic automation. The cost of the service includes setup, maintenance, extra parts, and programming. It costs more to provide the constant power supply needed for commercial robotic automation. The market's expansion is restricted by the high installation costs of commercial robots.
Commercial robots such as autonomous guided drones are frequently used in fields such as product manufacturing, packing and packaging, mining, and medical applications. Drones are also getting popular and are being incorporated into a variety of applications, including those in the commercial space. Additionally, numerous startups and megacorporations are actively investing in this technology in an effort to quickly increase their market share. Many governmental and private entities are collaborating in the market. For instance, The Drone Federation of India and the Indian Army Design Bureau signed an MoU in August 2022 for the development of drone technology and promote localization in the drone industry.
Manufacturing and construction activity were stopped because of the COVID-19. Due to interrupted or limited transportation activities, procurement chains and supply lines faced significant issues. Many companies opted to reduce their investments in automation due to a dip in both supply and demand. These expense cuts had an impact on the commercial robots market. On the other hand, the healthcare and pharmaceutical sectors began to actively utilize them for the delivery of medications, necessary and sterile supplies, and meals in COVID wards. The ecommerce business also used robots to expand its warehouses and delivery hubs, which were experiencing growing volumes of online orders. However, the market has recovered since 2021 and is expected to rise steadily due to a rising demand for automation and robotics in many end user sectors.
The key players profiled in this report include Northrop Grumman Corp., Kuka AG, iRobot Corporation, Yaskawa Electric Corporation, Omron Adept Technologies Inc., Honda Motor Company Limited, 3D Robotics Inc., Alphabet Inc., Accuray Inc., and AeroVironment Inc.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the commercial robots market analysis from 2021 to 2031 to identify the prevailing commercial robots market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the commercial robots market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global commercial robots market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy ApplicationMedical and Healthcare
Defense and Security
Agriculture and Forestry
Marine
Other
By TypeField Robots
Medical robots
Autonomous Guided Robotics
Drones
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
United Arab Emirates
South Africa
Rest of LAMEA
Key Market Players
Northrop Grumman Corp.
Kuka AG
iRobot Corporation
yaskawa electric corporation
Omron Adept Technologies Inc.
Honda Motor Company Limited
3D Robotics Inc.
Alphabet Inc.
Accuray Inc.
AeroVironment Inc.
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