Robotics Market Size is Expected To Reach USD 149,866.4 Million By 2030 With A CAGR of 27.7% - Valuates Reports

BANGALORE, India, Jan. 27, 2022 /PRNewswire/ -- Robotics Market by Application (Disinfection, Shelf Scanning, RFID Scanning, Delivery, Security & Inspection, and Advertising) and End User (Automotive, Retail, Healthcare, Electronics, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030. It is published in Valuates Reports under the Heavy Machinery Category.

The global robotics market size was valued at USD 12,153.1 million in 2020 and is expected to reach USD 149,866.4 million by 2030, with a CAGR of 27.7% from 2021 to 2030.

The study's scope is confined to robotics utilized in commercial operations for disinfection, shelf scanning, RFID scanning, delivery, security & inspection, and advertising.

Major Factors Driving The Growth of The Robotics Market Are

The robotics market is primarily driven by a rise in the use of automation for business applications. Following the emergence of COVID-19, for example, there has been an increase in demand for disinfection robots. Security and inspection, as well as delivery robots, are in high demand in the commercial market due to their high efficiency and cheap running costs. These reasons are propelling the global robotics market forward.

When compared to human wages, the cost of operating these robots is far lower. As a result, these robots assist in lowering labor costs in commercial, residential, and industrial settings. This factor is expected to further drive the growth of the robotics market.

Furthermore, certain institutions, such as healthcare, warehouses, retail stores, and similar locations, require continuous surveillance 24 hours a day, seven days a week. At these sites, a human cannot be assigned to carry out surveillance for the entire period. A robot, on the other hand, can perform the task without error and without interruption 24 hours a day, seven days a week. All of these reasons are propelling the global robotics market forward.

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TRENDS INFLUENCING THE GROWTH OF ROBOTICS MARKET 

Security and inspection robots are employed to monitor a facility's internal and external environments. Patrol robots increase safety while lowering security costs. Robots can minimize the number of guards on duty and shift them to home-based surveillance. A security and inspection robotic system can be used to inspect vehicles in a parking lot autonomously or semi-autonomously. Military police (MP) and other law enforcement and security agencies are among the customers of such a system.

The increase in COVID-19 cases is expected to increase the adoption of disinfection robots thereby increasing the growth of the robotics market. The global COVID-19 epidemic caused by the new coronavirus SARS-CoV-2 has put traditional surface disinfectants to the test. It has also prompted corporations and organizations to develop ultraviolet-disinfection robots. These robots are becoming more popular as a simple option for disinfecting rooms and spaces of all surfaces in one process, and as a result, they appear to be appealing to hospital administrators, owing to their automation and apparent cost savings by decreasing cleaning manpower.

Contactless delivery is a highly desired service under social distancing mandates, and robotic delivery businesses can provide it. Prior to the pandemic, autonomous delivery robots were already in use in some urban areas, airports, universities, hotels, and huge corporate campuses, but demand for them is "growing exponentially" because they cannot be infected with the unique coronavirus as human delivery drivers can. This trend is expected to further drive the growth of the Robotics Market during the forecast period.

As the demand for robotics grows, so does research and development to develop new technology and make robots more efficient. Furthermore, because the sector is continuously evolving, various new start-ups are joining the market. Several other inventors are employing similar tactics. During the forecast period, such efforts are expected to enhance the robots market.

Robotics, on the other hand, comes at a significant expense in terms of hardware and operating software. As a result, the cost of deploying robots is significant at first. Small and medium-sized enterprises cannot afford the high cost of robotics. Furthermore, several robots still lack a sufficient operating system and hence are not suitable for commercial use. These issues limit the growth of the robotics market.

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ROBOTICS MARKET SHARE ANALYSIS

Based on application, the security and inspection segment is expected to hold the largest market share in 2020. However, the shelf scanning segment is expected to increase at a 46.5 percent compound annual growth rate (CAGR).

Based on end-user, the retail segment held the largest robotics market share in 2020.

Europe contributed to the largest robotics market share, and it is expected to maintain its position during the forecast period. Furthermore, during the forecast period, LAMEA is expected to develop at the fastest CAGR.

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Robotics Market  By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

Robotics Market By Key Players

• Blue Ocean Robotics
• Brain Corporation
• Fetch Robotics, Inc.
• Honeywell International Inc.
• Motorola Solutions, Inc.
• RoboAds
• Siemens
• Simbe Robotics, Inc.
• SMP Robotics
• Xenex Disinfection Services Inc.

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SIMILAR REPORTS

-  In 2020, the global Food Robotics market size was USD 441.8 million and it is expected to reach USD 812.8 million by the end of 2027, with a CAGR of 9.1% during 2021-2027.

-  The global Medical Robots market was valued at USD 2859.2 million in 2020 and is expected to reach USD 3469 million by the end of 2027, growing at a CAGR of 2.8% during 2021-2027.

-  The global Food Robotics market was valued at USD 441.8 million in 2020 and it is expected to reach USD 812.8 million by the end of 2027, growing at a CAGR of 9.1% during 2021-2027.

-  The global Laboratory Robotics market was valued at USD million in 2020 and it is expected to reach USD million by the end of 2027, growing at a CAGR of % during 2021-2027.

-  The global Top Robotics market was valued at USD 40190 million in 2020 and it is expected to reach USD 59720 million by the end of 2027, growing at a CAGR of 5.4% during 2021-2027.

-  The global Cloud Robotics market was valued at USD 11260 million in 2020 and it is expected to reach USD 64510 million by the end of 2027, growing at a CAGR of 28.3% during 2021-2027.

-  In 2020, the global Consumer Robotics market size was USD 22170 million and it is expected to reach USD 93880 million by the end of 2027, with a CAGR of 22.9% during 2021-2027.

-  The global Industrial Robot market size is projected to reach USD 14840 Million by 2026, from USD 11720 Million in 2019, at a CAGR of 6.6% during 2021-2026.

-  In 2019, the global Mobile Robots market size was USD 14960 million and it is expected to reach USD 51100 million by the end of 2026, with a CAGR of 19.0% during 2021-2026.

-  The global Service Robotics market size is projected to reach USD 52100 Million by 2027, from USD 14960 Million in 2020, at a CAGR of 19.0% during 2021-2027.

-  In 2019, the global Warehouse Robotics market size was USD 2783.7 Million and it is expected to reach USD 4926.2 Million by the end of 2026, with a CAGR of 8.4% during 2021-2026.

-  Global Electric Patrol Robot Market Outlook 2022

-  Global Surgical Robotics Market Outlook 2022

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