Top Robotics Market

ABB (Switzerland) and Fanuc (Japan) are the Top 2 Players in the Top Industrial Robotics Market

The top industrial robotics market is expected to grow from USD 44.02 Billion in 2018 to USD 69.14 Billion by 2023, at a CAGR of 9.45% during the forecast period; the top service robotics market is expected to grow from USD 11.27 Billion in 2018 to USD 29.76 Billion by 2023, at a CAGR of 21.44% during the forecast period. The growth of the top robotics market is driven by factors such increasing demand for service robots from medical and healthcare sectors, and growing investments for automation in various industries.

In 2017, the top industrial robotics market was dominated by Northrop Grumman (US), Honda Motor (Japan), DJI (China), Intuitive Surgical (US), and iRobot (US). The top service robotics market was dominated by ABB (Switzerland), Fanuc (Japan), Yaskawa (Japan), Kuka (Germany), and Kawasaki Heavy Industries (Japan). Product launches, partnerships, and collaborations were the key strategies adopted by these top players to capture a major share of the top industrial robotics market and the top service robotics market.

Top 2 players in the top industrial robotics market:

FANUC strengthened its united efforts to attain stability and prosperity in its business as well as deepen the trust of customers in its products and services. It implements its slogan of “Reliable/Predictable/Easy to Repair” in product development to reduce the downtime of its customers and improve operability. Due to relatively slow growth in the automotive industry in China, Japan, and European countries, FANUC has come up with the strategy of establishing business divisions for each product line consisting of factory automation (FA), robots, and RoboMachines. FANUC has been consistently focusing on R&D to maintain its competitive edge. In 2015, it introduced new products such as CR-35Ia, M 710iC/12L, and M- 710iC/45M. FANUC continues to enhance its productivity in manufacturing through robotization, i.e., it manufactures all of its products in highly automated factories.

ABB’s business prospects are promising owing to the major changes taking place in industrial automation. Owing to the development in communications technology, processing power, and new sensors, ABB is capable of remotely controlling offshore oil & gas platforms, i.e., directing service operations for thousands of robots across the world from a single location. ABB is focusing on a new era of industrial automation and looking forward to growing holistically. Increasing awareness of quality and safety of manufacturing units in industries and growing demand for industrial automation solutions to improve efficiency and productivity are the key factors expected to propel the growth of the top robotics market.

Top 2 players in the top service robotics market:

Northrop Grumman has invested in the development and procurement of new military platforms and display systems with advanced electronics and software to enhance the capabilities of its existing individual systems and provide real-time integration of multifunction display systems to achieve greater market share. The company focuses on product developments in the top service robotics market. For example, in February 2016, Northrop Grumman Corporation successfully flew a SYERS-2 intelligence gathering sensor on an RQ-4 Global Hawk HALE UAS. Also, in December 2014, the US Navy and Northrop Grumman successfully flew the MQ-8B Fire Scout unmanned helicopter that provides the same persistent maritime surveillance capabilities for the Coast Guard.

Honda Motor, though being a company primarily engaged in the automotive business, visions to create differences in 2 areas: the advancement of mobility and value creation in people’s daily lives. To embody this vision, Honda is planning to focus on the following 3 areas supporting every aspect of its business: mobility, robotics-with focus on AI, and energy solutions. In February 2017, Honda R&D Co. (Japan), the R&D subsidiary of Honda, made a statement to establish an R&D center X (Japan) to strengthen its R&D and began operations in April 2017. The new R&D facility is engaged in “new value” areas that include robotics technology, mobility systems, and energy management. The company has a strapping geographic reach with 442 consolidated subsidiaries and affiliated companies.

Related Reports:

Top Robotics Market by Top Industrial Robotics (Articulated, SCARA, Cartesian, Parallel, and Collaborative), Top Service Robotics (Logistics, Domestic, Medical, Field, and Defense, Rescue, & Security) - Global Forecast to 2023

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