DUBLIN--(BUSINESS WIRE)--The "Top Robotics Market by Top Industrial Robotics (Articulated, SCARA, Cartesian, Parallel, and Collaborative), Top Service Robotics (Logistics, Domestic, Medical, Field, and Defense, Rescue, & Security) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The top industrial robotics market is expected to grow from US$44.02 billion in 2018 to US$69.14 billion by 2023, at a CAGR of 9.45% during the forecast period; the top service robotics market is expected to grow from US$11.27 billion in 2018 to US$29.76 billion by 2023, at a CAGR of 21.44% during the forecast period.
Major drivers for top industrial robotics market are increasing adoption of automation and growing demand from small and medium-sized enterprises (SMEs) in developing countries.
High adoption of robots for personal use, such as companionship and entertainment, and increase in the demand from medical and healthcare sectors are some of the key factors driving the growth of the top service robotics market. However, one of the major factors restraining the growth of the top industrial robotics market is the high overall cost of installation for low-volume production applications. Performance of service robots in untested environments and the lack of high-level interfacing are the major factors restraining the growth of the top service robotics market.
The top industrial robotics market for collaborative robots is expected to grow at a significant rate between 2018 and 2023. The collaborative robots have a good return on investment (ROI) because they are easy to install and simple to program, and are well accepted by workers. These robots are being adopted at a significant rate owing to their safety features and advantages over industrial robots to perform certain tasks in various industries, and the rate of adoption is expected to grow during the forecast period.
Domestic applications are expected to hold the largest share of the top service robotics market in 2018. The growing demand for domestic robots for domestic applications such as vacuum cleaning and lawn mowing is the key factor driving the growth of the market. However, the market for entertainment, education, and personal applications is expected to grow at the highest rate during the forecast period. The increasing number of working officials across the world is expected to put forth a need for service robots, for providing companionship to the elderly and toddlers.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Top Robotics Market, By Robotics Type
6 Market Overview of Top Industrial Robotics Market
7 Top Industrial Robotics Market, By Type
8 Top Industrial Robotics Market, By Industry
9 Geographic Analysis of Top Industrial Robotics Market
10 Competitive Landscape of Top Industrial Robotics Market
11 Market Overview of Top Service Robotics Market
12 Top Service Robotics Market, By Type
13 Top Service Robotics Market, By Application
14 Geographic Analysis of Top Service Robotics Market
15 Competitive Landscape of Top Service Robotics Market
16 Company Profiles
- Honda Motor
- Intuitive Surgical
- Kawasaki Heavy Industries
- Kongsberg Maritime
- Northrop Grumman
- Omron Adept Technologies
- Rethink Robotics
- Samsung Electronics
- Universal Robots
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