Global Robotics Market Expected to Reach a Volume of 23 Million Units by 2023
The market reached a volume of nearly 8 Million Units in 2017, growing at a CAGR of more than 23%
By: IMARC Group
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Robotics is the branch of artificial intelligence (AI) that deals with the designing, construction and operations of robots. It consists of different fields of computer science and mechanical and electrical engineering. Robots are industrial machines that are programmed to perform one or more complex tasks with speed and precision. Rapid development in the field of robotics has enabled its application across various industries like healthcare, defense, aerospace and automotive.
In recent years, controlled movements of robots and their ability to lift heavy loads without injury or tiredness have contributed to their rising demand. They aid in reducing human labor, overcoming the lack of skilled labor, and enhancing the overall productivity of any given task. Furthermore, healthcare and defense are the two key sectors where robots are extensively used for diversified purposes such as surgeries and discreet surveillance. Robots can also be used in dangerous environmental conditions including uneven terrains, poor lighting and high toxicity. Additionally, increasing usage of robots is being supported by the implementation of stringent international labor laws which aim toward reducing the number of work accidents. Moreover, as the use of robots is income elastic, a swift rise in disposable incomes of consumers across the globe has enabled them to employ services robots on a large-scale.
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Breakup by Product Type:
• Industrial Robots
• Service Robots
• North America
• Asia Pacific
• Latin America
The report has also examined the competitive landscape of global robotics market. Some of the major players in the market are ABB Group, KUKA AG, FANUC Corporation, Yaskawa Electric Corporation, etc.
Key highlights of the report:
• Market Performance
• Market Outlook
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Competitive Structure
• Profiles of Key Players
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