Global Commercial Robotics Market - Wishtree Insight

Global Commercial Robotics Market by Type (Medical Robots, Drones, Autonomous Guided Robotics, Field Robots, and Others), Application (Defense & Security, Marine, Medical & Healthcare, Agriculture & Forestry, and Others), and Regions (The Asia Pacific, Middle East Africa, Europe, North America, and Latin America) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2021 – 2031

The Global Commercial Robotics market size was valued at USD 12.4 billion in 2021 and is expected to surpass USD 57.61 billion by 2031, expanding at a CAGR of 34.5% during the forecast period, 2021–2031. The growth of the market is attributed to safety, increased efficiency, and reduced human errors.

INTRODUCTION

Commercial robotics refers to programmed robots that are utilized in medical, defense, marine, and forestry to perform particular tasks to increase productivity & accuracy and to ease human efforts & errors. The commercial robotics market is high in demand due to the rise in the convergence of robotics & artificial intelligence technology, which results in better planning & search, tracking, control, error-free task, probabilistic interference, and control. Commercial robots are used for heavy and critical transportation, surveillance & monitoring, surgical assistance, monitoring, collecting and transmitting accurate data, mapping activities, inspection, and other tasks.

There are different types of robots that are used for various purposes. Commercial robots are widely used in medical applications, autonomous guided, and drones. Nowadays drones have gained more popularity in various applications. Moreover, the medical sector is also utilizing robots at a rapid rate, due to their benefits in the healthcare sector. Innovation in technology, investments in robotics, and investments in the IoT industry are driving the growth of the healthcare industry.

Market Trends, Drivers, Restraints, and Opportunities

• Due to the technological advances in various industries and sectors, the growth of the commercial robotics market is anticipated to drive the market.
• The high precision and robust nature of commercial robotics machine fuel the market growth.
• The rise of Industry 4.0 also broadens the opportunity of the Robotics Market worldwide.
• The advances and investments in this market can also be viewed as major pitches in factors for the commercial robotics market. The high initial cost and the high skill set required to operate these machines are considered restraining factors in this Market.

Scope of the Report

Market Segment Insights

The medical robotics segment is expected to expand at a rapid pace

Based on type, the global commercial robotics market is divided into medical robots, drones, autonomous guided robotics, field robots, and others. The medical robotics segment is expected to expand at a rapid pace during the forecast period due to the increasing integration of robotics in medical transportation, surgery, laboratory testing, sanitization, and technological advancements in IOT-based equipment, and surgical robots. However, the drone segment is anticipated to hold a key share of the market in the coming years.

The defense & security segment is projected to register a considerable CAGR

On the basis of application, the global commercial robotics market is segregated into defense & security, marine, medical & healthcare, agriculture & forestry, and others. The defense & security segment is projected to register a considerable CAGR during the forecast period. The rise in drone adoption and government investment in surveillance and security can be attributed to the increased use of drones, unmanned aerial vehicles (UAVs), unmanned ground systems (UGS), guided bombs and missiles for combat, force protection, and real-time views in war zones, among others. On the other hand, the medical & healthcare segment is anticipated to account for a major market share during the forecast period.

The North American region is anticipated to constitute a key market share

In terms of regions, the global commercial robotics market is classified as the Asia Pacific, Middle East Africa, Europe, North America, and Latin America. At the global level, the North American region holds the highest market share in 2019 due to the availability of highly advanced technologies and infrastructure in the region. Europe can also be considered a potential market for commercial robotic segments in this drastic growing automation and digital world. Asia Pacific region is considered the fastest-growing region with key players adopting an expansion strategy in this region to gain maximum market share in the coming years. China and India are offering ample opportunities for the growth of the robotics market with their high population base. Key factors such as increased efficiencies, accuracy, and reduction in lead time are driving the Robotics Market in the Asia Pacific region.

Competitive Landscape

Key players competing in the Global Commercial Robotics market are 3D Robotics Inc. (U.S.); Northrop Grumman Corp. (U.S.); Alphabet Inc. (California); Yaskawa Electric Corporation (Japan); Hyundai Motor Company (South Korea); Intuitive Surgical, Inc. (U.S.); Kuka AG (Germany); iRobot Corporation (U.S.); Honda Motor Company Limited (Japan); Omron Adept Technologies Inc. (California); Analog Devices, Inc. (U.S.); Percepto Ltd. (U.S.).

FAQs

Mention the market size of Global Commercial Robotics in 2021.

The Global Commercial Robotics market size was valued at USD 12.4 billion in 2021 and is expected to surpass USD 57.61 billion by 2031.

During the forecast period, what is the CAGR of the market?

During the forecast period, the CAGR of the market is expected to be 34.5%.

What are the key drivers of the market?

The growth of the market is attributed to safety, increased efficiency, and reduced human errors.

What segments are covered in the Global Commercial Robotics report?

The segments covered in the report are Type (Medical Robots, Drones, Autonomous Guided Robotics, Field Robots, and Others), Application (Defense & Security, Marine, Medical & Healthcare, Agriculture & Forestry, and Others)

Mention the region is expected to hold the highest share in Global Commercial Robotics.

The North American Region is expected to hold the highest share in Global Commercial Robotics.

Which segment holds the largest market share in Global Commercial Robotics by 2031?

The medical robots segment holds the largest market share in global commercial robotics by 2031.

Mention the key players in the market.

Key players competing in the Global Commercial Robotics market are 3D Robotics Inc. (U.S.); Northrop Grumman Corp. (U.S.); Alphabet Inc. (California); Yaskawa Electric Corporation (Japan); Hyundai Motor Company (South Korea); Intuitive Surgical, Inc. (U.S.); Kuka AG (Germany); iRobot Corporation (U.S.); Honda Motor Company Limited (Japan); Omron Adept Technologies Inc. (California); Analog Devices, Inc. (U.S.); Percepto Ltd. (U.S.).