first_img WhatsApp Facebook Pinterest Worldwide Commercial Robotics Industry to 2026 – Technological Advancements and Convergence of Robotics and AI are Driving Growth – ResearchAndMarkets.com Twitter Facebook WhatsApp Pinterestcenter_img Twitter TAGS  By Digital AIM Web Support – February 22, 2021 DUBLIN–(BUSINESS WIRE)–Feb 22, 2021– The “Commercial Robotics Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering. The commercial robotics market was valued at USD 10.91 billion in 2020, and it is expected to reach a value of USD 58.56 billion by 2026, at a CAGR of 33.21%, during the forecast period (2021 – 2026). Companies MentionedNorthrop Grumman Corp.Kuka AGiRobot CorporationYaskawa Electric CorporationHonda Motor Company LimitedOmron Adept Technologies Inc.3D Robotics Inc.Alphabet Inc. Key Market Trends Drones in Military and Defense to Present Significant Opportunities for the Commercial Robotics MarketMilitary robot automation of the defense process is the next wave of military evolution. As automated systems and networking complement the Internet, communication is facilitated on a global basis. Over the past decade, there have been increasing levels of investment in surveillance and security in the defense sector.From 2017, the US military and its partners started expanding their use of drones, using them for logistical purposes, like resupply, while expanding their abilities to defend against enemy drones.The UAVs and drones are increasingly being adopted in the defense and military sector worldwide, due to their benefits, such as enemy tracking, use in war zones in reconnaissance of unknown areas or buildings, force protection, and to assist in search for lost or injured soldiers, as well as a real-time view of various missions.Thus, with the increase in defense spending globally and advancements in technology, military and defense account for a significant share in the commercial robotics market. North America to Dominate the MarketThe North American region is set to lead the market for commercial robotics due to the widespread acceptance of the infrastructure required for the adoption of commercial robotic systems.The steady technological advancements in the healthcare sector, in North America, is a major driver for the commercial robotics market in the region. The United States is home to some of the largest players in the market. It is a pioneer in the adoption of surgical robots, which is a primary factor influencing the growth of the market studied during the past decade.The defense and security sector also accounts for a significant portion of the demand, for robotics, in the region, as developed countries in these regions have focused on military modernization in the recent past. However, the airborne drones have seen a phenomenal increase in their application because of their heavy usage in security and surveillance.In 2016, the Pentagon, the Department of Defense deployed drones to spy over the US territory for non-military missions. These factors have increased the demand for security robots in North America. Key Topics Covered: 1 INTRODUCTION 2 RESEARCH METHODOLOGY 3 EXECUTIVE SUMMARY 4 MARKET DYNAMICS 4.1 Market Overview 4.2 Industry Value Chain Analysis 4.3 Industry Attractiveness – Porter’s Five Forces Analysis 4.3.1 Bargaining Power of Suppliers 4.3.2 Bargaining Power of Buyers/Consumers 4.3.3 Threat of New Entrants 4.3.4 Threat of Substitute Products 4.3.5 Intensity of Competitive Rivalry 4.4 Industry Policies 4.5 Introduction to Market Drivers and Restraints 4.6 Market Drivers 4.6.1 Technological Advancements and Convergence of Robotics and Artificial Intelligence 4.7 Market Restraints 4.7.1 Higher Costs of the Robotic Systems 4.8 Technology Snapshot 5 MARKET SEGMENTATION 5.1 By Type of Robot 5.2 By Application 5.3 Geography 5.3.1 North America 5.3.1.1 United States 5.3.1.2 Canada 5.3.2 Europe 5.3.2.1 United Kingdom 5.3.2.2 Germany 5.3.2.3 France 5.3.2.4 Spain 5.3.2.5 Rest of Europe 5.3.3 Asia-Pacific 5.3.3.1 China 5.3.3.2 India 5.3.3.3 Japan 5.3.3.4 Singapore 5.3.3.5 Australia 5.3.3.6 Rest of Asia-Pacific 5.3.4 Latin America 5.3.4.1 Brazil 5.3.4.2 Mexico 5.3.4.3 Argentina 5.3.4.4 Rest of Latin America 5.3.5 Middle East & Africa 5.3.5.1 United Arab Emirates 5.3.5.2 Saudi Arabia 5.3.5.3 South Africa 5.3.5.4 Rest of Middle East & Africa 6 COMPETITIVE LANDSCAPE 6.1 Company Profiles 7 INVESTMENT ANALYSIS 8 MARKET OPPORTUNITIES AND FUTURE TRENDS For more information about this report visit https://www.researchandmarkets.com/r/3lw6mk View source version on businesswire.com:https://www.businesswire.com/news/home/20210222005595/en/ CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 KEYWORD: INDUSTRY KEYWORD: TECHNOLOGY OTHER MANUFACTURING OTHER TECHNOLOGY MANUFACTURING SOURCE: Research and Markets Copyright Business Wire 2021. 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