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Manufacturing Robotics Market Growth Forecast| Are Robots Transforming Assembly?| Technavio

The global robotics market is expected to grow at a tremendous CAGR of 11% through 2022, and this is because of the increasing use of robotics in manufacturing applications. Manufacturers are increasingly embracing automation and using robotics due to its advantages such as agility, versatility, precision, eliminate the shortfall of skilled workers, and ability to perform in all harmful conditions.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180921005285/en/

According to Technavio, the global robotics market is expected to grow at a tremendous CAGR of 11% t ...

According to Technavio, the global robotics market is expected to grow at a tremendous CAGR of 11% through 2022, and this is because of the increasing use of robotics in manufacturing applications (Graphic: Business Wire)

Robots are here to revolutionize manufacturing

The manufacturing robotics market has evolved in line with advances in technology, including machine learning, artificial intelligence, robotics, and analytics. In the manufacturing front, the accuracy rate at which robots can perform their task is helping to eliminate human errors during assembly line. In contrast to the other fixed automation equipment, robotics assembly provides high quality and shorter product lifecycles. The latest edition to the robotics family is the introduction of collaborative robots, also known as cobots that are designed to work alongside humans in a shared workspace.

Get the latest market updates from Technavio’s robotics experts: View manufacturing robotics reports

Key players in the manufacturing robotics market

ABB introduced YuMi, a dual arm, small parts assembly robot, who will work with people to unearth unmeasurable possibilities. Features such as force sensors and vision sensors help these cobots to work alongside human, thus creating a friendly environment.

Similarly, FANUC CR-35iA collaborative assembly robot is the perfect fit for any assembly operation. These highly dexterous robots play a pivotal role in the assembly and provide a wide range of advantages when compared to fixed automation, including flexibility, reduction in error, and throughput maximization.

Prosthetic robot arm market: Fastest growing segment

One of the fastest-growing segment in the robotics industry is the prosthetic robot arm market, which is expected to accelerate at a CAGR of over 11% through 2022. Researchers at Technavio foresee a high adoption of robotics as a service (RaaS) business model, where service robots are rented or leased to end-users on a monthly or hourly basis along with upgradation, maintenance, and other basic services. The RaaS model is expected to be mainly leveraged by players from the prosthetic research institutes.

Technavio analyses the competitive landscape in the robotics arm market: View all reports

With over 200 reports on the robotics industry, Technavio’s specialized team monitors the industry from all aspect, from trending technologies to emerging markets, and provides insight into the present and future market scenario. Each report classifies the key drivers, latest trends, and challenges that the industry is currently experiencing. It also includes market positioning of the key players in the manufacturing robotics market.

Technavio’s research library covers different segments of the robotics market, including industrial robots, construction robotics, robots in the healthcare sector, robotics in the automotive industry, SCARA robots, educational robots, and collaborative robots.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
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