Robot Operating System Market Worth $467 Million by 2024 - Exclusive Report by MarketsandMarkets™

CHICAGO, Aug. 13, 2019 /PRNewswire/ --  According to a new market research report "Robot Operating System Market by Robot Type (Articulated, SCARA, Parallel, Cartesian, Collaborative), Industry (Automotive, Electrical and Electronics, Metals and Machinery, Food and Beverages, Healthcare), and Region - Global Forecast to 2024", published by MarketsandMarkets™, the global Robot Operating System (ROS) Market size is expected to grow from USD 312 million in 2019 to USD 467 million by 2024, at a Compound Annual Growth Rate (CAGR) of 8.4% during the forecast period.

The adoption rate of ROS is expected to grow, owing to a rise in the Research and Development (R&D) funds for industry automation, increasing implementation of collaborative modular robots, growing demand for Robotics-as-a-Service (RaaS) model, and the rising adoption of low-cost industrial robots.

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Collaborative robots segment to hold the highest CAGR during the forecast period

The safety features, as well as the benefits over other robots to perform certain light-duty tasks, is driving the adoption of collaborative robots (Cobot's) across the ROS market. Cobot's can be integrated with various sensors, vision systems, and passive compliance. It also integrates with overcurrent detection features, which detect any imminent collision with humans and take appropriate action to stop their movement, or deactivate the arm, or move the joint in the opposite direction, to avoid injury.

Automotive industry to hold the highest market share during the forecast period

The automotive industry is extremely dynamic and requires exceptional flexibility from automotive manufacturers. The growing global competition demands smart production systems, combined with flexible logistics systems. Within the manufacturing process, competitiveness, quality, and productivity have improved owing to a better level of speed, accuracy, precision, flexibility, and the agility of robots. Hence, ROS is highly incorporated in robots that are used in the automotive industry. The implementation of robots can help manufacturers reduce the time-to-market, cut product costs, and lower energy consumption. As automotive manufacturers look to remain competitive, they expect robotics to continue playing a pivotal role in the evolution of the automotive industry.

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Asia Pacific to account for the highest CAGR duringthe forecast period

The Robot Operating System (ROS) Market has been witnessing a tremendous growth in regions, such as China, Japan, and South Korea. These countries have a high penetration in the ROS market and provide solutions that resolve complex queries faced by customers. The high adoption rate of digital technologies and automation, especially in China, Japan, and South Korea, has made APAC a lucrative market. The growing development in these countries is expected to provide several new opportunities for ROS vendors in APAC. The rising aging population is driving the demand for robots in countries, such as China and Japan. The increased application of robots in diverse industries, including education and healthcare, further supplements the growth of the ROS market in APAC.

In the Robot Operating System Market, the key and emerging market players include ABB Ltd. (Switzerland), FANUC (Japan), KUKA AG (Germany), Yaskawa Electric Corporation (Japan), Denso (Japan), Microsoft (US), Omron Corporation (Japan), Universal Robotics (Denmark), Clearpath Robots (Canada), iRobot Corporation (US), Rethink Robotics (Germany), Stanley Innovation (US), and Husarion (Poland).

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