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Robotics – Thematic Research

The robotics market was valued at $45.3 billion in 2020 and is expected to grow at a CAGR of more than 28% during the forecast period 2021-2030. Robotics has been one of the fastest-growing industries, with industrial robots driving the market. The use of cloud computing and AI enables the robots to collaborate and access huge amounts of data uninterruptedly. Automation is thus found to be the key to improving productivity. As countries and companies attempt to recover from the pandemic, the demand for robotics will increase. Societies are thus found using robots to care for the elderly and address shortages in the workforce.

The robotics industry has been split into two main areas: industrial robots and service robots. Each can be sub-divided into additional categories, with service robots a particularly fragmented category.  AI will allow robots to identify human emotions, and the field of soft robotics is developing robots from materials similar to those found in living organisms. Hence, there is a chance that one day life will imitate art and robots and people will look alike.

Overview of the robotics market

Overview of the robotics market

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What are the market dynamics in the robotics market?

Industrial robots will drive growth in robotics in the 2020s, and the innovation coming from applications in manufacturing will spill over to areas such as logistics and healthcare. Several factors will contribute to the growth of the industrial robot market. For manufacturers, automation is still the fastest way to improve productivity. The greater cost-efficiency of robots will be another important factor. Industrial robots’ start-ups, such as Elephant Robotics, are developing cheaper units. In addition, robots will become smarter but also more lightweight. Finally, the widespread adoption of cloud computing will give industrial robots continuous access to data and improve the interaction between robots on the factory floor, further enhancing performance and contributing to the segment’s growth.

Exoskeletons, industrial robots, and consumer robots will be the fastest-growing robotics segments between 2020 and 2030. Consumer robots also start from a low base, with sales of automated home robots largely confined to floor cleaning devices. However, as prices decline and efficiency increases, more consumers will be tempted to adopt a broader range of domestic robots. Privacy concerns and security risks have the potential to cap that growth. However, the industry is likely to continue minimizing those risks and addressing consumer concerns, which increases its chances of fulfilling its growth potential.

What are the key trends impacting the robotics market?

There are advances that are being needed in certain AI technologies, including computer vision, conversational platforms, and context aware computing, to take industrial automation and industrial robotics to the next level. These developments and advances will be over the coming years. Moreover, investors are pouring funds into AI start-ups, which aim to make robots more intelligent, independent, and better able to function in unstructured environments.

Due to lower latency, edge computing has been found with the potential to improve the performance of robots while, at the same time, improving security, as the edge is safer than the cloud. Robots, especially those that are internet-connected, are highly vulnerable to hacking. Leaving them unprotected may allow unauthorized access to key applications and systems, which in turn may lead to loss, theft, destruction, or inappropriate use of sensitive information. Hackers can even gain control of robots and compromise robotic functions to produce defective final products and cause production downtime. The perpetual cybersecurity risks associated with connected robots are compelling robot manufacturers to focus on security at the design and development stages and invest in effective security solutions. The latest industrial cybersecurity management solutions address the risks associated with industrial automation equipment, applications, and plants.

Giving industrial machinery manufacturers the ability to access real-time performance data should allow them to offer new services and support new business models like preemptive maintenance or RaaS. While vendors like Cisco provide connectivity solutions, more savvy manufacturers are connecting their products to deliver better service to clients. Advances in AI have enabled the development of robots, allowing them to become highly complex products rather than the stand-alone, fixed-function machines they used to be. This, in turn, has increased the number of roles that robots can perform. Central to this development has been cloud computing, which allows sensing, computation, and memory to be managed more rapidly, securely, and at scale. The leaders in cloud robotics are those companies able to combine infrastructure and AI capabilities, namely Amazon, Google, IBM, and Microsoft. As well as enabling AI implementation, the use of cloud within robotics has the potential to change the way that the technology is consumed. This, in turn, has made it possible for suppliers to support a consumption-based as-a-service model.

The robotics industry has been divided into two main areas: industrial robots and service robots. Each can be sub-divided into additional categories, with service robots a particularly fragmented category. The service robot market was found to be larger than the industrial robot’s sector. However, the industrial robot’s market will grow faster over the next decade, due to the innovation coming from applications in manufacturing will spill over to areas such as logistics and healthcare.

What is the value chain for robotics?

The core segments for the robotics value chain are hardware components, software components, robot manufacturing, and robotics as a service. Depending on the application, level of sophistication, and reliability requirements, robotics generally involves several levels of control and processing, including onboard hardware and software, and increasingly, cloud processing and the pooling of knowledge from multiple robots.

Which are the key players involved in the robotics market?

The key players associated with the robotics market are the Cognex, Cyberdyne, Estun Automation, FANUC, HollySys, Honda, Intuitive Surgical, iRobot, Keyence, Midea, Nabtesco, Northrop Grumman, Omron, Rockwell Automation, and Teradyne.

Market report scope

Expected market value in 2020 $45.3
CAGR >28%
Base year for estimation 2020
Forecast period 2021-2030
Sector Service Robots and Industrial Robots
Key players Cognex, Cyberdyne, Estun Automation, FANUC, HollySys, Honda, Intuitive Surgical, iRobot, Keyence, Midea, Nabtesco, Northrop Grumman, Omron, Rockwell Automation and Teradyne

Scope

  • This report provides an overview of the robotics theme.
  • It identifies the key trends impacting growth of the theme over the next 12 to 24 months, split into three categories: technology trends, macroeconomic trends, and regulatory trends.
  • It includes comprehensive industry analysis, including forecasts for robotics revenues to 2030. These forecasts are split by robot type (industrial and service).
  • It contains details of M&A deals driven by the robotics theme, and a timeline highlighting milestones in the development of robotics.
  • The detailed value chain shows comprises four core segments: hardware components, software components, robot manufacturing, and robotics as a service. Leading and challenging vendors are identified for sub-categories across all four segments.

Key Highlights

Science fiction often speculates about robots that are virtually indistinguishable from humans. Yet, the most popular consumer robot is still a vacuum cleaner shaped like a disc. In factories and warehouses, human staff work alongside robots that are incredibly good at performing repetitive and dangerous tasks but do not look or behave like humans. AI will allow robots to identify human emotions, and the field of soft robotics is developing robots from materials similar to those found in living organisms. There is a chance that one day life will imitate art and robots and people will look alike. If and when that happens, societies will face an ethical conundrum: what rights to give to non-human creatures that look like us?

Jacques de Vaucanson would probably not recognize that most of today’s robots are related to the flute-playing automaton he built in the 18th century. The same can probably be said about factory workers 100 years later or Egyptians in 3,000 B.C. And yet, today’s robots exist to fill the same role that automata have filled for the last 5,000 years. That is, for entertainment or to replace humans in repetitive or strenuous tasks. Industrial robots fall into the latter category. Service robots include machines built to help humans with work or chores at home and robots designed to entertain.

Reasons to Buy

Robotics has a long history, but only recently have conditions aligned to unlock its full potential. This report provides a clear and comprehensive overview of the robotics theme and explains the conditions driving its growth. It also includes details of leading vendors across all aspects of the robotics market, from caged industrial robots and industrial co-bots to consumer robots and drones.

Key Players

ABB

FANUC

Kawasaki

Mitsubishi Motors

Franka Emika

Robotiq

Midea (KUKA)

Hahn Group (Rethink Robotics)

Amazon

Alibaba

Ocado

Intuitive Surgical

Medtronic

Johnson & Johnson

Zora Robotics

Lockheed Martin

ReWalk Robotics

Ekso Bionics

iRobot

Dyson

Softbank

UBtech

Yuneec

DJI

Northrop Grumman

John Deere (Bear Robotics)

Seegrid

Baker Hughes (Waygate)

Abundant Robotics

Agrobot

American Robotics

Lockheed Martin

Microsoft

Google

Harmonic Drive

TE Connectivity

Keyence

Softbank (Arm)

Broadcom

Intel

Ambarella

Yaskawa

Stellantis (Comau)

Teradyne (Universal Robots)

Vecna

Clearpath

Toyota

Cyberdyne

Zimmer Biomet

Stryker

Focal Meditech

Parker Hannifin

Honda Robotics

Hyundai Motor

Honda

Sony

Autel Robotics

Parrot

Flytrex

ExRobotics

KOKS

John Deere

EcoRobotix

Rabbit Tractors

Thales Group

Preferred Networks

C2RO

Cisco

Cognex

Rockwell Automation

Omron

Nabtesco

Honeywell

NXP

Qualcomm

Infineon

Samsung Electronics

Seiko Epson

Daihen

Festo

Kawasaki

Fujitsu

Hitachi

Aethon

InVia Robotics

Tharsus

I Am Robotics

Siemens Healthineers

Titan Medical

Stereotaxis

Omnicell

SuitX

Bionik Laboratories

Rokid

Uvify

Hubsan

Delair

Flyability

Gecko Robotics

Neurala

Rowbot

Small Robot Company

Soft Robotics

Aardvark Tactical

BAE Systems

Maxar Technologies

GE Digital

Tend.AI

Huawei

IBM

ROS-Industrial (open source)

Brain Corp

Estun Automation

HollySys

Teledyne

AMS

TDK

Rohm

Nachi-Fujikoshi

Siasun Robotics

Denso

AUBO Robotics

Hon Hai (Foxconn)

Locus Robotics

6 River Systems

GreyOrange

Monteris Medical

Vicarious Surgical

Paro

Techmetics Robotics

Otto Bock

Myomo

Vorwerk (Neato Robotics)

Five Elements Robotics

Trimble

Ehang

ANYbotics

Q-BOT

Kongsberg Maritime

Rapyuta

Noos

Nuance

Prophesee

Maxon

Marvell

MediaTek

Renesas

Silicon Labs

Table of Contents

Executive summary

Players

Technology briefing

Trends

Industry analysis

Value chain

Companies

Sector scorecards

Glossary

Further reading

Thematic methodology

Frequently Asked Questions

The robotics market was valued at $45.3 billion in 2020.

 

 

 

 

The robotics market is projected to grow at a CAGR of more than 28% during the period 2021-2030.

The robotics market has been divided into two main areas such as industrial robots and service robots.

Key players in the robotics market include Cognex, Cyberdyne, Estun Automation, FANUC, HollySys, Honda, Intuitive Surgical, iRobot, Keyence, Midea, Nabtesco, Northrop Grumman, Omron, Rockwell Automation and Teradyne.

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