Robot Market Will Grow at a Healthy CAGR by 2030

Robot Market Will Grow at a Healthy CAGR by 2030

A detailed analysis of the robot market is entailed in this research report. The driving forces responsible for propelling the growth graph of this vertical in addition to the regional and competitive trends are mentioned in the study. A comprehensive document comprising details about vital parameters such as the industry ecosystem analysis, market segmentation, and the vendor matrix, the market report also contains information on the pivotal industry insights for core players to look out for.

The robot market is slated to record commendable gains in the Asia Pacific region propelled by increasing costs of labor and incentives for the automation of its manufacturing sector.

APAC countries including Singapore, Japan, and China are increasingly focusing on the development of new robotic solutions for overcoming the shortage of labor and automating routine tasks. In addition, a number of robotic companies, comprising Kawasaki, Kawada Robotics, Mitsubishi, Honda Robotics, and Hyundai Robotics, that are present in the region, are directing their efforts towards the introduction of new products for boosting product penetration in the near future.

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Guide/security robots are deployed in universities, museums, hotels, and airports for the purpose of performing guidance and patrolling tasks. These types of robots are also used in the real estate sector for the reduction of crime rate and enhancing the safety of residents in the communities.

To consider an instance, in March 2021, Westland Real Estate launched a Knightscope-designed autonomous 24-hour security robot at Las Vegas-based Liberty Village Apartments. The security robot is deployed for improving the safety & security of residents.

The COVID-19 crisis has led to an escalation in the UVC disinfection and delivery robot’s demand. These robots played a crucial role in minimizing the impact of SARS-CoV-2 infection spread, and overcoming the traditional surface disinfectants, and the shortages of labor supply. Contactless robot deliveries are being preferred by consumers with the intent of minimizing human contact.

In a nutshell, the increasing deployment of robots for guiding people in museums and airports will augment robot market share through the estimated period.

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Major participants in the robot market comprise Honda, Blue Ocean Robotics, PAL Robotics, Xenex Disinfection Services LLC, LG Electronics, Amazon Robotics, Finsen Technologies, Kawada Robotics, Robotlab, Inc., TMI Robotics, Starship Technologies, RV Automation Technology Co. Ltd., and others.

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