Robot Operating System Market Expected to Reach USD 1.4 Billion by 2031 | Top Players Such as -ABB, Denso & OMRON
The rise in the demand for robotics-as-a-service model is escalating the growth of robot operating system market.
PORTLAND, PORTLAND, OR, UNITED STATE, March 1, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, “Robot Operating System Market Expected to Reach USD 1.4 Billion by 2031 | Top Players Such as -ABB, Denso & OMRON.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global robot operating system market was valued at USD 464.6 million in 2021, and is projected to reach USD 1.4 billion by 2031, growing at a CAGR of 12% from 2022 to 2031.
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Factors such as increase in adoption of automotive in various industry, rise in adoption of ROS by manufacturer and demand of collaborative robots is increasing primarily drive the growth of the robot operating system market. However, high maintenance and installation cost of robots hamper the market growth to some extent. Moreover, adoption of robot as a service is expected to provide lucrative opportunities for the market growth during the forecast period.
The global robot operating system market is segmented on the basis of robot type, application, industry vertical, and region. On the basis of robot type, it is segregated into SCARA robots, articulated robots, parallel robots, collaborative robots and others. On the basis of application, it is segregated into plastic injection and blow molding, pick and place, testing and quality inspection, PCB handling and ICT, metal stamping and press tending, CNC machine tending, co-packing and end of line packaging. On the basis of industry vertical, it is segregated into automotive, electrical and electronics, food and beverages, healthcare, metal and machinery, rubber and plastic and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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By application, the plastic injection and blow molding segment contributed to the highest share in 2021, accounting for around two-fifths of the global robot operating system market revenue. The PCB handling and ICT segment would also showcase the fastest CAGR of 14.7% throughout the forecast period. PCB and ICT solutions that address the diverse and varying needs of automated devices is currently becoming extremely valuable as more and more sectors adopt robotic operating systems.
By industry vertical, the electrical and electronics segment accounted for nearly two-fifth of the global robot operating system market share in 2021, and is expected to rule the roost by 2031. The metal and machinery segment would also display the fastest CAGR of 14.9% throughout the forecast period, owing to the rise of automation and digitalization trends in every industry.
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By region, North America garnered the highest share in 2021, holding nearly one-third of the global robot operating system market revenue in 2021, and is projected to retain its dominance by 2031. The Asia-Pacific region would also portray the fastest CAGR of 14.0% during the forecast period. Rapid surge in population and rise in the economy of Asia-Pacific have propelled the market growth.
The key players profiled in the robot operating system market analysis are ABB Ltd., Clearpath Robotics, Denso Corporation, FANUC CORPORATION, iRobot Corporation, KUKA AG, Microsoft Corporation, OMRON Corporation, Universal Robotics, and Yaskawa Electric Corp.. These players have adopted various strategies to increase their market penetration and strengthen their position in the robot operating system industry.
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Covid-19 Scenario:
⁕ Various countries across the globe are adopting ROS for the healthcare sector to train their future doctors and students for fighting the COVID-19 pandemic.
* Rise in number of patients across the globe have led to a significant increase in the adoption of robot software, owing to the closing of work places and upsurge in the use of ROS in different sector such as manufacturing, retail, and healthcare.
* However, rise in organic growth strategies by the major key players has helped the market recover post-pandemic.
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