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Global Robotics Market 2018-2022 by Application - Market to Reach $77.32 Million - ResearchAndMarkets.com

[February 14, 2018]

Global Robotics Market 2018-2022 by Application - Market to Reach $77.32 Million - ResearchAndMarkets.com

The "Global Robotics Market 2018-2022" report has been added to ResearchAndMarkets.com's offering.

The global robotics market is expected to grow to US$77.32 million during the period 2018-2022.

The report has been prepared based on in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

The latest trend gaining momentum in the market is virtual commissioning. This method is gaining traction over on-site commissioning, as it helps in the reduction of time and cost by 50-60%. Virtual commissioning supports the entire lifecycle of industrial robots, apart from the initial design and decision-making processes.

One of the major drivers for this market is technological advances in robot hardware. With the emergence of endors offering commercial-off-the-shelf components, vendors can lower the cost of production with more compact product designs. Miniaturization of sensors, which is expected to be a trend in the forecast period as well, will play a significant role in the pricing of robots. As the price of the sensors continues to fall, there will be an emergence of more industrial and service robots at relatively lower prices. Vendors are incorporating sensors, such as vision systems, to enhance functions like detecting the location of parts and orientation and perform quality checks.

Key Vendors