Adaptive robotics market growth with industry study, detailed analysis and forecast to 2030
PORTLAND, OR, UNITES STATES, March 7, 2022 /EINPresswire.com/ – According to a recent report published by Allied Market Research, titled, the adaptive robotics market size was valued at $ 4.9 billion in 2020, and is expected to reach $ 55.0 billion by 2030, registering a CAGR of 26.3% from 2021 to 2030. North America is anticipated to dominate the global adaptive robotics market in 2020. Adaptive robots are third generation of robots that are integrated with technologies such as IoT and artificial intelligence, which sense and act on their environment without human interaction. Adaptive robots are more compact, precise, and able to work faster, and quick decision taker in various industries such as automotive, manufacturing, and food & beverages.
Surge in applications of collaborative robots, acceptance for automation in manufacturing industries, and rapid industrialization & automation drive the global adaptive robotics market growth. On the other hand, high cost of robots, high labor cost, and lack of skilled labor hinder the growth of the market. On the contrary, acceptance and integration of the Internet of Things will open several opportunities for market players in the future.
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Key players of the global adaptive robotics market analyzed in the research include Kuka AG, ABB, Robotiq Inc., Soft Robotics Inc., SCHMALZ, Weiss Robotics GmbH & Co Kg, Yaskawa Electric Corporation, Universal Robots A / S, SoftBank Group Corp, and Rethink Robotics GmbH.
The COVID-19 pandemic impacted the production of adaptive robotic systems in the first and second quarters of 2020.
Adoption of touch-less operations in the automotive, food & beverage, and electronics sectors added to the demand for adaptive robotics in the third and fourth quarters of 2020.
The COVID-19 pandemic impacted many sectors such as transportation and supply chains on a global level. This caused a decline in the manufacturing of robots as well as their demand in the market.
The re-initiation of adaptive robotics manufacturing businesses is expected in the near future, which will boost the adaptive robotics market.
The report segments the global adaptive robotics market on the basis of component, application, end-user, and region.
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Key Market Segments
Key Findings Of The Study
By component, software segment was the highest revenue contributor in 2020.
On the basis of application, handling segment was the highest revenue contributor in 2020.
By end-user, automotive segment dominated the market in 2020.
North America generated the highest revenue in 2020.
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