Dublin, Sept. 01, 2023 (GLOBE NEWSWIRE) -- The "Commercial Robots Market By Type (Field Robots, Medical robots, Autonomous Guided Robotics, Drones, Others), By Application (Medical and Healthcare, Defense and Security, Agriculture and Forestry, Marine, Other): Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global commercial robots market, valued at $15.2 billion in 2021, is anticipated to achieve remarkable growth, projecting an estimated value of $85.2 billion by 2031, exhibiting a robust Compound Annual Growth Rate (CAGR) of 20.0% from 2022 to 2031.
Commercial robots, transformative devices designed to mimic, assist, or even replace human tasks, are witnessing surging demand due to their superior capabilities over conventional methods. Notably, drones are making inroads into various sectors, including commercial applications.
The ever-growing demand for innovative medical treatments has significantly expanded the commercial robot devices market. Incorporating machine learning and artificial intelligence into healthcare has broadened the scope of robotic surgery and medical robotics. Companies are leveraging research and development efforts to create automated solutions for the healthcare industry, resulting in a surge in demand for commercial robots, especially in automated surgical procedures.
However, the market faces challenges in terms of high installation and maintenance costs for commercial robotic systems. The expenses are primarily associated with software programming, setup, maintenance, and additional parts, including the constant power supply required for optimal operation. Despite these challenges, the market's expansion is being driven by the increasing adoption of commercial robots, particularly autonomous guided drones, across diverse sectors such as manufacturing, packaging, mining, and medical applications.
Numerous startups and industry giants are heavily investing in commercial robotic technology to swiftly gain a competitive edge. Public and private collaborations are further shaping the market landscape. For instance, in August 2022, the Drone Federation of India and the Indian Army Design Bureau signed a memorandum of understanding (MoU) to foster the development of drone technology and promote localization in the drone industry.
Market Dynamics:
Drivers:
- Increasing Investment in Commercial Robots
- Growth in Medical Robotics and Surgical Solutions
- Proliferation of Autonomous Guided Drones
Restraints:
- High Installation and Maintenance Costs
Opportunities:
- Technological Advancements in Robotic Applications
- Collaborations and Partnerships for Innovation
The comprehensive market report offers stakeholders several benefits, including:
- Quantitative analysis of market segments, trends, and dynamics from 2021 to 2031.
- Insights into key drivers, restraints, and opportunities influencing the market.
- Porter's five forces analysis to guide profit-oriented decision-making.
- In-depth segmentation analysis to identify prevailing market opportunities.
- Revenue contribution mapping of major countries within each region.
- Benchmarking and understanding the market player landscape.
Key Market Segments:
Application:
- Medical and Healthcare
- Defense and Security
- Agriculture and Forestry
- Marine
- Other
Type:
- Field Robots
- Medical Robots
- Autonomous Guided Robotics
- Drones
- Others
Regions:
- North America: U.S., Canada, Mexico
- Europe: Germany, UK, France, Spain, Italy, Rest of Europe
- Asia-Pacific: China, Japan, India, South Korea, Australia, Rest of Asia-Pacific
- LAMEA: Brazil, Saudi Arabia, UAE, South Africa, Rest of LAMEA
Key Market Players:
Leading players in the commercial robots market include Northrop Grumman Corp., Kuka AG, iRobot Corporation, yaskawa electric corporation, Omron Adept Technologies Inc., Honda Motor Company Limited, 3D Robotics Inc., Alphabet Inc., Accuray Inc., and AeroVironment Inc.
For more information about this report visit https://www.researchandmarkets.com/r/i67b2y
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