USD 85.2 Billion Commercial Robots Market Expected to Reach by 2031 | Top Players such as – Kuka AG, iRobot & Alphabet

Technological advancements and the increasing demand for automation across various industries are driving the demand for commercial robots in the market.

PORTLAND, PORTLAND, OR, UNITED STATE, October 12, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The USD 85.2 Billion Commercial Robots Market Expected to Reach by 2031 | Top Players such as – Kuka AG, iRobot & Alphabet.” 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 commercial robots market was valued at USD 15.2 billion in 2021, and is projected to reach USD 85.2 billion by 2031, growing at a CAGR of 20% from 2022 to 2031.

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The growth of small companies, rising investment in automation, strict government laws on management of hazardous chemicals and products, introduction of smart factories, and continuing shift from manual to automated process drive the global commercial robots market. By region, Asia Pacific held the major share in 2021, contributing to more than half of the global commercial robots market.

The global commercial robots market share is segmented based on type, application, and region. By type, it is classified into field robots, medical robots, autonomous guided, robotics, drones, and others. By application, it is classified into medical & healthcare, defense & security, agriculture & forestry, marine, and other. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Based on application, the medical and healthcare segment accounted for the highest share in 2021, contributing to around one-third of the global commercial robots market revenue, and is expected to maintain its dominance during the forecast period. However, the defense and security segment is expected to manifest the fastest CAGR 22.2% from 2022 to 2031. The report also analyzes agriculture and forestry, marine, and others segments.

On the basis of type, the autonomous guided robotics segment held the largest market share in 2021, accounting for more than one-third of the global commercial robots market and is estimated to maintain its leadership status throughout the forecast period. However, the drones segment would portray the fastest CAGR of 23.7% by 2031. The report also discusses field robots, medical robots, and others segment.

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By region, Asia-Pacific held the largest market share in terms of revenue in 2021, accounting for more than half of the global commercial robots market revenue and is likely to dominate the market during the forecast period. The same region would also cite the fastest CAGR of 21.1% from 2022 to 2031. The report also analyzes North America, Europe, and LAMEA regions.

The key players profiled in the commercial robots market report include Northrop Grumman Corp., Kuka AG, iRobot Corporation, Yaskawa Electric Corporation, Omron Adept Technologies Inc., Honda Motor Company Limited, 3D Robotics Inc., Alphabet Inc., Accuray Inc., AeroVironment Inc.

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COVID-19 Scenario:

● The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global commercial robots market. Due to disruptions in the supply chain, several sectors such as manufacturing, construction, automotive were negatively impacted that affected the production and demand for commercial robots during the pandemic.

● Economic slowdown affected the setup of new commercial robots projects across the world as majority of government fundings were diverted towards construction and manufacturing sector owing to rapid spread of the COVID-19 virus, thereby impacting the market to the great extent.

● However, the introduction of vaccines for the coronavirus disease and the re-initiation of production facilities helped the market to recover. Industries gradually resumed their regular manufacturing and services, leading to the re-initiation of companies at their full-scale capacities.

Key Questions Answered in the Intelligent Study

● What is the market size and growth rate of the global and regional market by various segments?
● What is the market size and growth rate of the market for selective countries?
● Which region or sub-segment is expected to drive the market in the forecast period?
● What Factors are estimated to drive and restrain the market growth?
● What are the key technological and market trends shaping the market?
● What are the key opportunities in the market?
● What are the key companies operating in the market?
● Which company accounted for the highest market share?

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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