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Global demand for increased productivity fuelling the growth of robot industry

Press release September 23, 2014 Robot industry, machine industry, robot market, machine market

This report provides a brief outlook for the sales volume and value of the worldwide service robot market from 2010 to 2016.

In 2013, robot sales increased by 2% but from 2014 to 2016, the industry will see worldwide sales increase by about 6% on average per year. Some of the forces that are fuelling the growth of the robot industry are large capital investments in various service robotics companies, integration of robotics with mobile applications, technology and other smart products, government initiatives in robotics development and value addition done by these advanced machines. Despite such growth prospects, certain factors like the lack of networking in robots, sensors, user safety issues and interaction capabilities with the world are restricting growth. However, the key players of the market see great potential, especially in places where robots increase the production capabilities of the industry. The industry is categorized into service robots and personal ones. Both are then divided as per their application in other markets and other usages.

This report, The Rise of Machines: Technology & Market Trends of Service Robots, provides an overview of the service robot technology, including both professional and personal service robots, and the function of each component system of a service robot. It also gives a brief outlook for the sales volume and value of the worldwide service robot market from 2010 to 2016.

Growth in service robotics sector

All through this decade, the service robotics will evolve with advanced interaction capabilities, including mobility. The new robots were now able to respond to vocal commands or gestures and move independently around living space. In coming years, service robots’ evolution is expected to continue. The global service robotics market in 2011 was worth USD 18.39 billion and USD 20.73 billion in 2012. It is expected to reach USD 46.18 billion by 2017 at an estimated CAGR of 17.4%. The service robotics industry will be driven by factors like ageing population, value enhancements by robots, increased grants and funds by governments, and increased capital investments. Furthermore, advancements in complementary technologies and integration of robotics in smart products are some of the other factors that are fuelling the growth of the service robotics sector.

Market overview

Most of the robotic technology is based on platforms that leverage sensors, controllers, software modules, cameras, locomotors, and visualization machines. Automation is a process where there is a repetition of some tasks and robots take them a step further by improving yields and increasing the production levels. Since the robotic technology is developed to meet stringent hygiene and safety regulations, it will be opening up doors for completely new applications where they will be physically capable to handle even the most arduous of tasks.

The global demand for robots is expected to increase by 10.5% annually. Five countries like US, Germany, China, Japan and South Korea are expected to dominate the demand with US having the largest market share.

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Visit: Global demand for increased productivity fuelling the growth of robot industry

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Subjects


Robot industry, machine industry, robot market, machine market


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