Transparency Market Research (TMR) observes, the
global
robotics market is highly conciliated due to presence of
number of companies operating in the market. Some of the key players
operating in the global edge computing market are Fanuc Corporation,
iRobot Corporation, Northrop Grumman Corporation, and Google Inc.
These players are focused to manufacture products with their maximum
technical and business strength for product innovation and
commercialization of these products.
A report estimates, the global edge computing
market is expected to attain value of US$147.26 bn by the end of 2025
with a CAGR of 17.4% over the forecast period of 2017 to 2025. The
market was valued at revenue of US$35.23 bn in 2016. Based on volume,
the global robotics market valued at 677.2 thousand units in 2016 and
is predicted to amount to 2,731.2 thousand units by the end of 2025,
expending with a CAGR of 17.0% over the forecast period from 2017 and
2025. Static type robot is dominating the global robotics market as
it is widely deployed across numerous industries such as aerospace,
manufacturing, and automotive. Based on the region, North America is
dominating the leading position in the global robotics market.
Labor-intensive industries are facing challenges
of rising labor cost and lack of skilled workforce is boosting
adoption of the robots. This has pushed companies to adopt robotic
technology to automate operations. The automotive, aerospace, and
healthcare industries for reduction of labor-cost and overcoming the
lack of skilled labor globally. Industrial robots are able to
performing numerous programmed tasks across numerous manufacturing
and production. These robots are able to perform such task which are
often dangerous for human workers. Service robots are increasingly
assisting human beings for jobs that are typically repetitive and are
dangerous. The aforementioned factors are fuelling growth of the
global robotics market.
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The unmanned aerial vehicles have significance for
surveillance, conducting targeted bombing discreetly, and capturing
images among other purposes. Additionally, military drones are
cost-effective and manned aerial vehicles that offers advantages of
strolling above the ground and helps to gather maximum information
about target discreetly that ground attack. Additionally, due to the
benefits offered by the robotics, the defense sector is experiencing
higher investment in improvement of robotic technology.
High Installation and Maintenance Costs to
Limit Growth
Despite of growth prospects, the high investment
in the research and development coupled with high initial investment
along with higher manufacturing cost. These factors are restraining
growth of the global robotics market. Also, high maintenance cost of
robots is restraining growth of the robotics market. Additionally,
other factors such as turning a prototype, commercial robot, and
commercialization of the product is limiting growth of the global
robotics market.
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