Global Robot Market Report added at Market Study Report offers industry size, share, growth, trends and forecast analysis up to 2030. Robot Market Report also covers top key players, porters five forces analysis and market segmentation in detail. This report examines the global Robot market and provides information regarding the revenue for the period 2021 to 2030.

The advent of industrial robots has offered various benefits, including increased productivity, smooth operations, high delivery rate, and fewer workplace accidents involving laborers. Notably, the proliferation of autonomous robots across several industry verticals, such as logistics, healthcare, e-commerce, and food & beverage, among others, has significantly reduced the scope of human errors.

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The robot market is set to register exponential growth by 2030 owing to mounting emphasis on rapid production and distribution capabilities in highly competitive industry verticals around the world.

In addition, growing emphasis on technological advancements and product innovation to facilitate high rate of production in response to the labor shortage created by the COVID-19 outbreak has fueled industry uptake during the pandemic. Furthermore, prominent industry players are implementing strategic initiatives to leverage emerging trends in the market, which has been favorable for business growth.

To cite another instance, in August 2021, Fetch Robotics, a key automation company, inked a partnership agreement with Lucas Systems, a technology company specializing in warehouse and distribution operation software, to work on the next generation of smart warehouses. As part of the agreement, both firms intended to provide tailored solutions to optimize the interaction between warehouse workers and autonomous mobile robots (AMR) designed by Fetch.

For instance, in October 2020, Yaskawa Electric Corporation, a leading robotics company, launched four models under its novel palletizing robot series viz., MOTOMAN-PL320, MOTOMAN-PL190, MOTOMAN-PL500, and MOTOMAN-PL800. These models were developed with the purpose of enhancing efficiency and automating the process of stacking and packing in factories with the aim to address the soaring need for automation and labor saving during the COVID-19 pandemic.

The robot market has been bifurcated on the basis of vertical, product, and region. With respect to product, the market has further been classified into delivery robots (indoor delivery robots and serving robots), security/guide robots, and UVC disinfection robots (fully autonomous and semi-autonomous).

Under delivery robots, the serving robots segment is expected to witness substantial growth by 2030, progressing at a notable CAGR over the review period. Increasing deployment of serving robots in hotels and restaurants is anticipated to propel segmental development in the coming years.

In terms of vertical, the robot market has been divided into residential, food & beverage, healthcare, public, education & scientific research, hospitality, and retail. The healthcare segment is slated to expand at a steady CAGR through the analysis period to attain a substantial valuation by the end of 2030. Surging demand for UVC disinfection robots to disinfect patient wards and operation theatres is estimated to drive segmental growth in the coming years.

The prominent companies operating in the market include Xenex Disinfection Services LLC, Amazon Robotics, LG Electronics, PAL Robotics, Honda, Finsen Technologies, Kawada Robotics, TMI Robotics, Starship Technologies, Ubtech Robotics, Inc., and RV Automation Technology Co. Ltd.

From the regional point of view, the Middle East & Africa robot market is anticipated to observe optimistic growth over the forecast period. Rising adoption of robotic technologies at public places and airports owing to prevalent smart city establishments in MEA is likely to positively influence regional market outlook in the future.

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