Robotics Industry Marching Along With Solid CAGR as Robot-Human Interaction Grows, Reports BCC Research

WELLESLEY, Massachusetts, July 6, 2016 /PRNewswire/ --

In the past five years, the robotics industry has undergone fundamental changes.BCC Research reveals in its new report that chief among them, the age of the 'collaborative robot' signals the beginning of a new industrial era whereby robots work in tandem with their human counterparts.  

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This report analyzes six types of robots: industrial robots, professional service robots, military robots, domestic service robots, security robots and space robots. Sixteen types of end-users are examined, including aerospace manufacturing, agricultural, automotive manufacturing, building maintenance, chemical and fuel processing, construction, consumer products manufacturing, electrical and electronics manufacturing, government (defense), government (non-defense), healthcare, pharmaceutical manufacturing and textile and clothing manufacturing.

The global robotics market, which totaled nearly $24.9 billion in 2015, should reach over $25.9 billion and $31.5 billion in 2016 and 2021 respectively, reflecting a five-year compound annual growth rate (CAGR) of 4%. Nearly $12 billion of that $31.5 billion is forecast to originate in 14 countries of the Asia-Pacific market. However, the most rapid integration into workplaces and home is forecast for the 31-country Europe Plus market, which is anticipated to grow at five-year CAGR of 5.9%, well above the global average.

Auto manufacturing, the largest end-user in 2015, should maintain its position during the forecast period on a five-year CAGR of 1.1%, reaching $6.5 billion by 2021. Healthcare, the second-largest category of robot user, is anticipated to total $5.6 billion by 2021 on a five-year CAGR of 5.3%. Government (non-defense), which leads all end-user markets with an anticipated five-year CAGR of 7.3%, should reach $1.6 billion by 2021.

In 2015, professional service robots accounted for 30% of the worldwide robotics market. More than half of those robots were used in healthcare and 10% in aerospace manufacturing. Education and research, government-non defense applications, and building maintenance users each accounted for about 6% of the total. The balance of demand was generated in food processing, pharmaceutical manufacturing, agricultural, construction, automotive manufacturing, consumer products manufacturing and chemical and fuel processing.

The success of robotics in the recent past has been chiefly due to the development of communication links and software that have enabled machines of different types and from different manufacturers to work in a collaborative fashion with humans.

"In the most generic sense, collaboration is when multiple workers perform tasks on the same work piece. Collaboration is familiar to those who create information products, the most common of which are financial instruments including car loans and mortgages in which computers, not comptometers, calculate payment schedules," says BCC Research analyst James Wilson. "A machine capable of sharing workspace with humans and simultaneously working on the same work piece represented the opening of a new industrial era in which robots were seen less as tools and more as a co-worker."

Robotics: Technologies and Global Markets (ENG001E) analyzes the robotics industry by market region, by type of robot, by robot-user, by robot-assigned task, and by category of robotic product. Analyses of global market drivers and trends, with data from 2015, estimates for 2016, and projections of CAGRs through 2021 also are provided.

Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming@bccresearch.com.

About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. Founded in 1971, BCC Research is a unit of Eli Global, LLC.

For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.

Media Contact:
Steven Cumming
Tel: 978-870-3345
Fax: 781-489-7308
steven.cumming@bccresearch.com  

SOURCE BCC Research LLC