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  • 21 February 2019 22:37

Robotics Market: Is A Game Changer Technology, Set To Revolutionize Technology World

Global Robotics Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027

Robotics is a branch of engineering which involves design, conception, manufacture, and operation of robots. Robots are used for various activities such as assembling products, space missions, detecting and defusing bombs, product inspection, surgical operations, and cleaning and household activities. Robotics technology is widely used in various industries such as electronics, healthcare, artificial intelligence, defense, mechatronics, aerospace, nanotechnology, and automotive and infrastructure.

The global robotics market revenue is expected to expand at a lucrative CAGR over the forecast period. Increasing demand for automation in various industries to improve production, quality of the products, and to taking care of worker’s safety is expected to drive growth of the global robotics market over the forecast period.

The global robotics market report has been segmented on the basis of type, application, and region. On the basis of type, the target market is segmented into industrial robots, service robots, and mobile robots. The industrial robots type segment is expected to account for highest share in the target market in terms of revenue over the forecast period.

On the basis of application, the target market is segmented into household, entertainment, defense, field, healthcare, and infrastructure. The defense sector application segment is expected to invest in robotics technology to develop innovation in unmanned aerial vehicles.

On the basis of component, the target market is segmented into sensors, control units, actuators, brake systems, vision systems, and others

Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is estimated to be highest share in terms of revenue over the forecast period, owing to technological advancements and development of innovative products in various countries in this region. The market in Asia Pacific is expected to register highest CAGR in terms of revenue, owing to rising adoption of robotics in various industrial applications especially, in automotive and healthcare sectors in developing countries such as India and China in the region. Key players operating in the global robotics market include iRobot Corporation, Boston Dynamics Inc., Touch Bionics Limited, Northrop Grumman Corporation, Rethink Robotics, Inc., Accuray Incorporated, Liquid Robotics Inc., QBotix Inc., Prox Dynamics AS, and Robert Bosch GmbH.

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