Market Research Report
|Published by||Global Industry Analysts, Inc.||Product code||957173|
|Published||Content info||276 Pages
Delivery time: 1-2 business days
|Published: April 1, 2021||Content info: 276 Pages||
Global Robotics Market to Reach 2.2 Million Units by 2027
Amid the COVID-19 crisis, the global market for Robotics estimated at 796.3 Thousand Units in the year 2020, is projected to reach a revised size of 2.2 Million Units by 2027, growing at a CAGR of 16% over the analysis period 2020-2027. Mobile Robotics, one of the segments analyzed in the report, is projected to record a 18.5% CAGR and reach 813.5 Thousand Units by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Exoskeleton segment is readjusted to a revised 15.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at 214.2 Thousand Units, While China is Forecast to Grow at 20.9% CAGR
The Robotics market in the U.S. is estimated at 214.2 Thousand Units in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 532.1 Thousand Units by the year 2027 trailing a CAGR of 21% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.2% and 14.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 12.6% CAGR.
Static Robotics Segment to Record 14.3% CAGR
In the global Static Robotics segment, USA, Canada, Japan, China and Europe will drive the 13.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of 276.7 Thousand Units in the year 2020 will reach a projected size of 670.1 Thousand Units by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 344 Thousand Units by the year 2027, while Latin America will expand at a 15.9% CAGR through the analysis period.
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