The Global Top Robotics Market was valued at USD 56.08 billion in 2019 which is expected to reach USD 169.46 billion by 2027 at a CAGR 14.55% from 2019 to 2027.
The top robotics are referred as mechanical devices which are incorporated with the various other fields of technologies, used in the replacement of the human being for repetitive task as well as dangerous task. Top Robotics is the combination of industrial robotics and service robotics which are automated, and highly programmable of withstanding the movement along more than three axes.
The increase in demand for collaborative robots across all industry segments is expected to boost the global top robotics market growth. Furthermore, rapid expansion of the automotive industry across the globe as well as the rise in the adoption of robotics in various end use industries including Metal & Machinery, Food & Beverages, Chemical, Rubber, & Plastics, Pharmaceutical & Cosmetics, and Others will positively influence the market growth. The top robotics provides several benefits such as cost reduction, size reduction, and improving quality, along with improved manufacturing efficiency. The rise in awareness regarding the benefits they offer is expected to support the market growth during this forecast timeline.
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High cost of deployment, especially for small and medium size enterprises is the major restraint which expected to hamper the global top robotics market growth. Also, interoperability and integration issues with industrial robots will limit the market growth.
The Global Top Robotics Market is segmented into type such as Top Service Robotics, Top Industrial Robotics, Articulated Robots, Parallel Robots, SCARA Robots, and Collaboration Robots. Further, market is segmented into application such as Electrical & Electronics, Automotive, Metal & Machinery, Food & Beverages, Chemical, Rubber, & Plastics, Pharmaceutical & Cosmetics, and Others.
Also, the Global Top Robotics Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Some key operating players are discussed in this report such as ABB, TRAPO AG, FANUC, Toolmotion GmbH, Yaskawa, NIMAK GmbH, KUKA, Northrop Grumman, Honda Motor, iRobot Corporation, etc.
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