Robotics Market Volume is expected to surpass by 2023 end : Genesis Market Insights

Global Robotics Market was valued at USD 46.18 Billion in the year 2017. Global Robotics market is further estimated to grow at a CAGR of 13.52% from 2018 to 2023 to reach USD 112.6 billion by the year 2023. Asia-Pacific region holds the highest market share in 2017 and North America market is considered as the fastest growing market in the forecasted period. At country level China, Japan and India are projected to grow at a strongly in the coming years.

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iRobot Corporation (U.S.), Kawasaki Heavy Industries, Ltd (Japan), Intuitive Surgical (U.S), Yaskawa Electric Corporation (Japan), ABB Group (Switzerland), Fanuc Corporation (Japan), Honda Motor Co., Ltd. (Japan), Yamaha Corporation (Japan), Komatsu, Ltd. (Japan), Locus Robotics (U.S), Fetch Robotics Inc. (U.S), Barrett Technology LLC (U.S), are some of the key players in the Global Robotics market. Rising research and development expenses to cater changing demand of end users, similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of tier 1 and Tier 2 manufacturers in recent years.

Drivers:

Rising Labor cost

Restraints:

Installation Cost is high

Opportunities:

Implementation and Adoption of Robotic Technology

Challenges:

Government Regulations

The major shares of the market come from Logistics in Global Robotics Market. On the other hand, automotive type for this market is expected to grow at highest CAGR during the year 2018-2023.

Key Benefits for Stakeholders

• Robotics Manufacturers, Distributors and Retailers
• Research and Consulting organization
• Technology Standards Organizations, Forums, Alliances and Associations
• End-use industries
• Regulatory bodies, policy actors, and consumers.

By Component

• Software
• Hardware
• Services

By Type

• Automotive Robot
• Mobile Robot
• Industrial Robot
• Service Robot
• Others

By Vertical Industry

• Logistics
• Aerospace & Defense
• Electronics
• Domestic
• Healthcare
• Agriculture
• Transportation
• Entertainment
• Others

By Region

• North America
• Europe
• Asia-Pacific
• LAMEA

Key Market Players

• iRobot Corporation (U.S.)
• Kawasaki Heavy Industries, Ltd (Japan)
• Intuitive Surgical (U.S)
• Yaskawa Electric Corporation (Japan)
• ABB Group (Switzerland)
• Fanuc Corporation (Japan)
• Honda Motor Co., Ltd. (Japan)

Read Report Overview with Full TOC @ https://genesismarketinsights.com/viewreport/87/21/Robotics-Market-

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