Increase in demand for disinfection equipment, reduction of labor cost, and growing need for continuous surveillance devices drive the growth of the global robotics market
PORTLAND, Ore., Dec. 21, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "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." According to the report, the global robotics industry was estimated at $12.15 billion in 2020, and is anticipated to hit $149.86 billion by 2030, registering a CAGR of 27.7% from 2021 to 2030.
Drivers, restraints, and opportunities-
Increase in demand for disinfection equipment, reduction of labor cost, and growing need for continuous surveillance devices drive the growth of the global robotics market. On the other hand, high initial cost of robots and lack of proper operating systems impede the growth to some extent. However, increase in funding for development of innovative robots is projected to create lucrative opportunities in the industry.
Download Sample PDF (240 Pages with More Insight): https://www.alliedmarketresearch.com/request-sample/13906
The outbreak of the pandemic gave way to distorted manufacturing and transportation activities, which led to a steep decline in manufacturing of robotic systems as well as their demand in the market, especially during the initial phase of the pandemic.
However, the demand for robots such as disinfection robots and delivery robots grew significantly, thereby giving a mixed impact to the market.
The security & inspection segment to dominate by 2030-
Based on application, the security & inspection segment accounted for more than four-fifths of the total robotics market share in 2020, and is anticipated to rule the roost by 2030. This is due to its wide application in all the end user segments. The shelf scanning segment, however, would cite the fastest CAGR of 46.5% throughout the forecast period. Its rapid adoption in retail and warehouses drives the growth of the segment.
Get detailed COVID-19 impact analysis on the Robotics Market: https://www.alliedmarketresearch.com/request-for-customization/13906?reqfor=covid
The retail segment to maintain the dominant share-
Based on end user, the retail segment held nearly two-fifths of the global robotics market revenue in 2020, and is expected to lead the trail by 2030. This is attributed to its large scale potential of applications for robotics. The electronic segment, on the other hand, would manifest the fastest CAGR of 28.9% from 2020 to 2030.
Europe, followed by North America, garnered the major share in 2020-
Based on region, Europe, followed by North America, held the major share in 2020, generating more than two-fifths of the global robotics market, due to large scale R&D of robotics and adoption of automation in the province. At the same time, the market across LAMEA would grow at the fastest CAGR of 31.4% by 2030, owing to rapid industrialization and urbanization in the region.
Key players in the industry-
Fetch Robotics, Inc.
Honeywell International Inc.
Simbe Robotics, Inc.
Xenex Disinfection Services Inc.
Blue Ocean Robotics
Interested in Procure Data? Visit Here: https://www.alliedmarketresearch.com/purchase-enquiry/13906
Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access
Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.
Avenue Library Subscription | Request for 14 days free trial of before buying:
Similar Reports We Have:
Packaging Robots Market: The packaging robots market size was valued at $2471 million in 2016 and is projected to reach $4,649 million by 2023, growing at a CAGR of 9.6% from 2017 to 2023.
Adaptive Robotics Market – The adaptive robotics market is expected to reach $ 55,097.0 million by 2030, registering a CAGR of 26.3% from 2021 to 2030.
Construction Robotics Market – The construction robotics market is expected to reach $7,880.3 million by 2027, registering a CAGR of 23.3% from 2020 to 2027.
Warehouse Robotics Market - The warehouse robotics market size is projected to grow at a CAGR of 11.6% and is forecast to reach $5,186 million by 2023.
Service Robotics Market - Global service robotics market size is expected to garner $34.7 billion by 2022, registering a CAGR of 23.9% during the forecast period 2015 - 2022.
Industrial Robotics Market - Global Industrial Robotics Market is projected to reach $70,715 million by 2023, growing at a CAGR of 9.4% from 2017 to 2023.
Pre-Book Now with 12% Discount:
Robotic Flexible Washer Market - Global Opportunity Analysis and Industry Forecast, 2020-2027
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: 1-800-792-5285
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Follow us on: LinkedIn Twitter
SOURCE Allied Market Research