Portland, OR, Oct. 20, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global adaptive robotics market generated $4.97 billion in 2020, and is anticipated to reach $55.09 billion by 2030, manifesting a CAGR of 26.3% from 2021 to 2030. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.
Surge in applications of collaborative robots, acceptance for automation in manufacturing industries, and rapid industrialization & automation drive the global adaptive robotics market growth. On the other hand, high cost of robots, high labor cost, and lack of skilled labor hinder the growth of the market. On the contrary, acceptance and integration of the Internet of Things will open several opportunities to the market players in the future.
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COVID-19 scenario:
- The COVID-19 pandemic impacted the production of adaptive robotic systems in the first and second quarters of 2020.
- Adoption of touch-less operations in automotive, food & beverage, and electronics sectors added to the demand for adaptive robotics in the third and fourth quarters of 2020.
- The COVID-19 pandemic impacted many sectors such as transportation and supply chains on a global level. This caused a decline in the manufacturing of robots as well as their demand in the market.
- The re-initiation of adaptive robotics manufacturing businesses is expected in the near future, which will boost the adaptive robotics market.
The report segments the global adaptive robotics market on the basis of component, application, end-user, and region.
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Based on the component, the software segment accounted for the largest market share in 2020, contributing to more than half of the total share, and is expected to maintain the lead throughout the forecast period. The same segment is estimated to witness the fastest CAGR of 26.7% from 2021 to 2030. The report also covers the hardware segment.
Based on application, the handling segment contributed to the highest market share in 2020, contributing to more than two-fifths of the total market share, and is anticipated to dominate the market during the forecast period. On the other hand, the assembling segment is expected to manifest the fastest CAGR of 27.4% from 2021-2030.
Based on region, North America contributed to the highest share in 2020, holding more than two-fifths of the total share, and is expected to maintain dominance throughout the forecast period. On the other hand, Asia-Pacific is expected to portray the fastest CAGR of 28.2% during the forecast period.
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Top Manufacturers:
Key players of the global adaptive robotics market analyzed in the research include Kuka AG, ABB, Robotiq Inc., Soft Robotics Inc., SCHMALZ, Weiss Robotics GmbH & Co Kg, Yaskawa Electric Corporation, Universal Robots A/S, SoftBank Group Corp, and Rethink Robotics GmbH.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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