Global Commercial Robots Market Expected to Make a Strong Comeback in the Post-Pandemic Period with a CAGR of 20.0% during the 2022 to 2031 Timeframe [220-Pages] | Commended by Research Dive

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Research Dive

Jun 07, 2023, 06:30 ET

The global commercial robots market is expected to witness significant growth by 2031, due to the rising investments and fundings in commercial robots. Regionally, the Asia-Pacific region accounted for the dominant market share in 2021.

NEW YORK, June 7, 2023 /PRNewswire/ --

Global Commercial Robots Market Forecast Analysis:

As per the report published by Research Dive, the global commercial robots market is predicted to generate $85,166.1 million and grow at a CAGR of 20.0% during the forecast period from 2022 to 2031 timeframe. 

Segments of the Commercial Robots Market

The report has divided the commercial robots market into the following segments:

  • Type: field robots, medical robots, autonomous guided robotics, drones, and others
    • Drones - Expected to have the fastest growth by 2031
      The increasing investments made by numerous startups and tech powerhouses in the latest technologies such as drones to rapidly increase their market share, which is expected to drive the growth of the sub-segment during the forecast period.
  • Application: medical and healthcare, defense and security, agriculture & forestry, marine, and others
    • Medical & Healthcare – Held the dominant market share in 2021
      The increasing awareness about the advantages of medical robots in the healthcare industry and the rising investments in the robots and IoT sector is expected to augment the growth of the sub-segment during the forecast years.
  • Region: North America, Europe, Asia-Pacific, and LAMEA
    • Asia-Pacific – Generated the highest revenue in 2021
      The government incentives for foreign direct investment (FDI), moderate emissions, and easy access to economic labor in the region are the major factors expected to boost the growth of the regional market during the forecast period.

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Dynamics of the Global Commercial Robots Market

The rising investments and funding in commercial robots for enhancing new vehicle manufacturing capacities and industry modernization is predicted to drive the growth of the commercial robots market during the forecast period. Moreover, the increasing use of commercial robots in the medical and healthcare industry to develop automated surgical solutions is expected to create growth opportunities for the market players during the analysis timeframe. However, the high cost of commercial robot systems is expected to impede the growth of the market during the forecast period.

COVID-19 Impact on the Global Commercial Robots Market

The rise of the COVID-19 pandemic has brought several uncertainties across various industries, including the commercial robots industry. This is mainly due to the disruptions in the supply chain, economic slowdown, and closure of many manufacturing plants during the forecast timeframe. Moreover, the shortages of some components and the delay in the robot deployment due to financial uncertainty across several countries have further declined the growth of the market throughout the pandemic.

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Key Players of the Global Commercial Robots Market

The major players of the commercial robots market include

  • Omron Adept Technologies Inc.
  • 3D Robotics Inc.
  • Honda Motor Company Limited
  • Yaskawa electric corporation
  • Alphabet Inc.
  • iRobot Corporation
  • Accuray Inc.
  • Kuka AG
  • AeroVironment Inc.
  • Northrop Grumman Corp.

These players are broadly working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to attain a leading position in the global industry.

For instance, in February 2022, Northrop Grumman Corporation, an American multinational aerospace and defense technology company announced the launch of an agreement for its Mission Robotic Vehicle spacecraft and the sale of its first Mission Extension Pod.

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What the Report Covers        

Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)

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About Research Dive

Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

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SOURCE Research Dive

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