Commercial Robotics Market

Commercial Robotics Market registered a revenue of USD 5.7 billion in 2021 and is projected to reach USD 9.9 billion in 2029, growing at a CAGR of 7.1% during the forecast period.

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Market Dynamic

Key Drivers and Emerging Trends

The commercial robotics market is anticipated to witness an upsurge in demand during the forecast period. This can be attributed to the rising demand for automation of processes in diverse industries including healthcare, defence, agriculture, and marine among other sectors. Additionally, several benefits offered by these robots including increased efficiency, reduced human errors, planning and search, and enhanced safety of the workforce is further expected to boost the growth of the commercial robots market.

Various organizations including, International Federation of Robotics (IFR), WeRobotics, Robotic Industries Association (RIA), Indian Underwater Robotics Society (IURS), Society of Robotic Surgery (SRS), and Swedish Robotics Society, among others are contributing to the development and growth of the robotics technology, which is likely to support the growth of the commercial robotics market globally. Furthermore, technological advancements that includes artificial intelligence, nanotechnology, 3D vision technology, and cloud computing are expected to provide lucrative growth and development opportunities to the commercial robotics market over the forecast period.

Restraint in the Commercial Robotics Market

However, high investment required for the initial setup, integration and programming of commercial robotic solutions is expected to hamper the adoption of robots by small and medium commercial enterprises during the forecast period.

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Type – Segment Analysis

Based on the type, medical robots segment is expected to grow at a faster CAGR over the forecast period primarily due to the increasing integration of robotic solutions for critical medical surgery, medical transportation, sanitation, and laboratory testing in the healthcare sector. In addition to this, da Vinci Surgical Robot, Xenex Germ-Zapping Robot, PARO Therapeutic Robot, CyberKnife, TUG are some of the medical robots that are used in healthcare sector.

Application – Segment Analysis

Based on the application, defence and security segment is anticipated to dominate the market. This can be attributed to the increasing government investment in surveillance and security and rising adoption of drones, Unmanned Aerial Vehicles (UAV), Unmanned Ground Systems (UGS), guided bomb and missile systems for enemy tracking, force protection, and real time view in war zones among other applications in the defence sector.

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Regional – Segment Analysis:

Based on the region, Asia-Pacific is projected to grow at a faster CAGR during the forecast period owing to the increasing demand of robotics technology in healthcare and defence sectors and the rapid development of robotic systems in Japan, China, and India in the Asia-Pacific region. Some organizations that include Japan Robot Association (JARA), China Robot Industry Alliance (CRIA), Taiwan Automation Intelligence and Robotics Association (TAIROA), and All India Council for Robotics & Automation (AICRA) are increasingly contributing to develop and regulate the technology of robotics in the Asia Pacific region. This factor is expected to further escalate the market growth in region.

Top Market Players

Various notable players operating in the market include Yaskawa Electric Corporation, Northrop Grumman Corporation, Kuka AG, iRobot Corporation, OMRON Corporation, 3D Robotics, Alphabet Inc., Percepto, Hyundai Motor Company, and Intuitive Surgical, Inc., among others. 

Key Developments:

• • In 2020, Percepto, an Israel-based developer of drones for monitoring and analyzing industrial sites, partnered with Boston Dynamics. This partnership aims to launch Percepto’s Autonomous Inspection & Monitoring (AIM) platform by using its Sparrow drone and Boston Dynamics’ Spot quadruped robot for site inspection applications.
  • In 2020, Hyundai Motor Group acquired the Boston Dynamics with the aim of advancing robotics and mobility technology. This is expected to enhance the product portfolio of the company in the robotics market.

Segments covered in the Report:

The global Commercial Robotics Market has been segmented on the basis of type, application, and regions. Based on type, the market is segmented into drones, field robots, medical robots, autonomous guided robotics, and others. Based on application, the market is segmented into medical and healthcare, defence and security, agriculture and forestry, marine, and others. 

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Key questions answered in this research report:

• • At what pace is global Commercial Robotics Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Commercial Robotics Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Commercial Robotics Market?
  • Which type generated maximum revenues in 2021 and identify the most promising type during the forecast period?
  • What are the various application areas of global Commercial Robotics Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Commercial Robotics Market by Type

• • Drones
  • Field Robots
  • Medical Robots
  • Autonomous Guided Robotics
  • Others

Global Commercial Robotics Market by Application

• • Medical and Healthcare
  • Defence and Security
  • Agriculture and Forestry
  • Marine
  • Others

Global Commercial Robotics Market by Region

• • North America Commercial Robotics Market (Option 1: As a part of the free 25% customization)
    • By Type
    • By Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Commercial Robotics Market (Option 2: As a part of the free 25% customization)
    • By Type
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Commercial Robotics Market (Option 3: As a part of the free 25% customization)
    • By Type
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Commercial Robotics Market (Option 4: As a part of the free 25% customization)
    • By Type
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Commercial Robotics Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Yaskawa Electric Corporation
  • Northrop Grumman Corporation
  • Kuka AG
  • iRobot Corporation
  • OMRON Corporation 
  • 3D Robotics
  • Alphabet Inc.
  • Percepto
  • Hyundai Motor Company
  • Intuitive Surgical, Inc.
  • Analog Devices, Inc.