Commercial Robots Market Size Reach USD 85.2 Billion by 2031, Key Factors behind Market’s Hyper Growth

The demand for commercial robots has increased because of the continuing shift from manual to automated processes, which is driving factor of the market growth.

PORTLAND, PORTLAND, OR, UNITED STATE, April 15, 2024 /EINPresswire.com/ -- According to the report published by Allied Market Research, The Commercial Robots Market Size Reach USD 85.2 Billion by 2031, Key Factors behind Market’s Hyper Growth. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

The global commercial robots market was valued at USD 15.2 billion in 2021, and is projected to reach USD 85.2 billion by 2031, growing at a CAGR of 20% from 2022 to 2031.

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The growth of small companies, rising investment in automation, strict government laws on management of hazardous chemicals and products, introduction of smart factories, and continuing shift from manual to automated process drive the global commercial robots market. By region, Asia Pacific held the major share in 2021, contributing to more than half of the global commercial robots market.

The global commercial robots market is segmented on the basis of type, application and region. By type, the market is sub-segmented into field robots, medical robots, autonomous guided robotics, drones, and others. By application, the market is classified into medical & healthcare, defense & security, agriculture & forestry, marine, and other. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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COVID-19 Scenario:

● The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global commercial robots market. Due to disruptions in the supply chain, several sectors such as manufacturing, construction, automotive were negatively impacted that affected the production and demand for commercial robots during the pandemic

● Economic slowdown affected the setup of new commercial robots projects across the world as majority of government fundings were diverted towards construction and manufacturing sector owing to rapid spread of the COVID-19 virus, thereby impacting the market to the great extent.

● However, the introduction of vaccines for the coronavirus disease and the re-initiation of production facilities helped the market to recover. Industries gradually resumed their regular manufacturing and services, leading to the re-initiation of companies at their full-scale capacities.

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Based on application, the medical and healthcare segment accounted for the highest share in 2021, contributing to around one-third of the global commercial robots market revenue, and is expected to maintain its dominance during the forecast period. However, the defense and security segment is expected to manifest the fastest CAGR 22.2% from 2022 to 2031. The report also analyzes agriculture and forestry, marine, and others segments.

On the basis of type, the autonomous guided robotics segment held the largest market share in 2021, accounting for more than one-third of the global commercial robots market and is estimated to maintain its leadership status throughout the forecast period. However, the drones segment would portray the fastest CAGR of 23.7% by 2031. The report also discusses field robots, medical robots, and others segment.

By region, Asia-Pacific held the largest market share in terms of revenue in 2021, accounting for more than half of the global commercial robots market revenue and is likely to dominate the market during the forecast period. The same region would also cite the fastest CAGR of 21.1% from 2022 to 2031. The report also analyzes North America, Europe, and LAMEA regions.

Leading market players of the global commercial robots market analyzed in the research include Kuka AG, iRobot Corporation, Omron Adept Technologies Inc., 3D Robotics Inc., Alphabet Inc., AeroVironment Inc., Northrop Grumman Corp., yaskawa electric corporation, Honda Motor Company Limited, and Accuray Inc.

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