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(I-SoftwareNews.Com, March 30, 2020 ) Market Overview
• Adaptive robotics acceptance is increasing worldwide and integrated with other emerging technologies, and amplify the benefits. Integrating technologies like Voice recognition and 3D vision will allow adaptive robots to give best results and function more autonomously. Furthermore, adaptive robots can access, control, collect diverse IoT data sets and useful, in order to make complex decisions autonomously. The value of adaptive robotics is already being recognized by companies across the world. For instance, General Electric Lighting uses adaptive robots in its Hendersonville, NC plant to build high volume roadway light fixtures and increase productivity. In addition to manufacturing and construction, customer-facing industries like retail, banking, and travel will be early adopters of adaptive robots.
• Google filed a patent outlining a robot that changes personalities based on circumstance and a wide variety of user information. Google also outlined a series of robots that could be used in warehouses and a system for controlling how quickly they move and accelerate to ensure that these bots can safely load cargo.
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Market Dynamics
• Speech recognition, vision, sensing, and capable of acting based on various types of IoT data are the prominent technologies used in adaptive robotics when paralleled with traditional robotics. Usage of artificial intelligence, behavioral sciences, and communication & multimedia design in adaptive robotics are the major factors playing a crucial role in expanding adaptive robotics in various applications. Furthermore, increasing technological advancements, rising R&D investments in artificial intelligence & robotics, and, growing adoption of IoT & industry 4.0 are the key drivers impacting the market in the estimated period.
• Rising R&D investments in artificial intelligence and robotics are the key driver for the growth of the market worldwide. Economies are focusing to invest in technologies for strengthening their testing and experimentation facilities in the robotics industry. For instance, Europe has allocated USD 2.78 billion for artificial intelligence to facilitate safe access and storage of data and algorithms. Robotics companies have raised more than USD 15.6 billion during the first half of 2019. According to the robotics investments tracked and verified by The Robot Report, more than USD 2.6 billion has been raised on average per month. For instance, In February 2019, Horizon robotics has invested USD 600 million for Ai and IoT. Adding to this, In March 2019, Think surgical has invested USD 134 million on surgical robotics.
• Safety issues, difficulty in designing and huge capital investment are the major restraints hampering the growth of the market globally. High initial infrastructural investment and maintenance costs are associated with adaptive robots. Adaptive robots come in various sizes and have collision detection capabilities. Increased human-robot interaction raises the risk of human injury. Many organizations may not let humans and robots share the
• same workspace. This limits the potentiality of the adaptive robot uses in many scenarios where the presence of humans is imperative. Robots in workplace are viewed negatively, as a technology that is going to reduce job opportunities.
Market Segmentation
• Based on the end-user, the global adaptive robotics market is segmented into retail & manufacturing, banking, healthcare, travel & transportation, construction, logistics, others. The global logistics market size was worth USD XX billion in 2018 and is estimated to reach USD XX billion by 2026, at a CAGR of XX% during the forecast period. Logistics segment is expected to maintain a constant growth rate in the estimated period. worldwide. Robots automate the process of storing and moving goods as they make their way through the supply chain in Logistics. Improving worker productivity and accuracy by using robotics in ware house and storage facilities are the major factors for the growth of the logistics segment in the estimated period.
• Logistic companies have started using robotics to improve their supply chain process. For instance, Companies such as Quiet Logistics are using adaptive robots, which autonomously drive to an item’s location, showing their human coworkers what and where to pick. Quiet Logistics is able to increase picker accuracy and improve worker productivity by 5-8 times. Adding this, Adaptive robots from I Am Robotics navigate warehouse aisles and help scale distribution centers to lower overhead costs and reduce order fulfillment times by identifying and procuring products requested.
• By application, the global adaptive robotics market is segmented into industrial robots, consumer Robots, service Robots, logistics Robots and swarm Robots. The global service robots market size was worth USD XX billion in 2018 and is estimated to reach USD XX billion by 2026, at a CAGR of XX% during the forecast period. Service robotics is expected to hold a major market share in the forecast period. Service robots are engineered to assist humans and perform useful tasks on their behalf. For instance, Honda's Asimo robot is an autonomous, humanoid robot that could help the elderly by getting them food or turning off lights.
• Demand for service robots in defense, healthcare, and agriculture is driving service robot growth due to the high labor costs, scarcity of skilled workers, and increasing awareness of service application. For instance, Thomas Jefferson University Hospital is using adaptive robotics to provide remote access to medicine and reduce patient transfer rates. The hospital uses InTouch Health’s RP-Vita, an adaptive patient-care robot, that combines the latest in autonomous navigation and mobility with the latest in telemedicine technology. Furthermore, Service robots in manufacturing facilities use adaptive robots for a wide range of tasks such as welding to painting. These adaptive robots are programmed to accomplish one task repeatedly.
• On the basis of component, the global adaptive robotics market is classified into sensors, control Systems, actuators, control systems and Others.
• By sales channel, the global adaptive robotics market is divided into distribution channel and direct channel.
Geographical Analysis
• Global adaptive robotics market is segmented into five major regions including North America, Europe, Asia Pacific, South America, and the Middle East & Africa region.
• The North America adaptive robotics market size was worth USD XX billion in 2018 and is estimated to reach USD XX billion by 2026, at a CAGR of XX% during the forecast period. North America is dominating the global adaptive robotics market in 2018 and estimated to hold largest market size over the forecast period. The market share for adaptive robots was highest in North America, and is growing due to the high demand for personal assistance robots & collaborative industrial robots and huge investments. For instance, Canadian marine robotics firm Kraken Robotics acquired a majority share in Rostock, Germany-based Kraken Power for USD 110,000.
• Government in this region is focusing on robot gripper technology in combination with adaptive robotics. For instance, The U.S. Department of Defense is soliciting proposals to establish an Institute focused on robotics in manufacturing environments. The federal government would provide USD 80 million over 5 years, which would be matched with at least USD 80 million from non-federal funding sources. Furthermore, Leverage over USD 160 million in funding to establish an institute focused on advanced industrial robotics as part of the “Manufacturing USA” National Network for Manufacturing Innovation.
• The Asia Pacific logistics market size was worth USD XX billion in 2018 and is estimated to reach USD XX billion by 2026, at a CAGR of XX% during the forecast period. Asia Pacific is expected to grow at a high CAGR in the forecast period. Growing investments by major industrial players and increasing government support are the key factors responsible for the growth in the Asia-Pacific adaptive robotics market. For instance, Investment in robotics and related services are expected to double from the USD 60 billion in 2016 is to more than $133 billion in the Asia Pacific region by 2020 as per the worldwide commercial robotics spending guide.
• Adoption of robotics in China, Japan, India, and South Korea is increasing in various applications. For instance, China, which is one of the major countries from this region and also in the world is increasing its defense spending year on year, makes this region as a favorite spot for the commercial robotics. According to the International Federation of Robotics, China is the world's largest market for industrial robots and now accounts for more than 30% of global sales. Japan is developing a global base for robot innovation to promote public-private partnerships, initiate R&D capabilities, & develop regulations for data security. For instance, In July 2019, Connected robotics, A Japanese company develops specialized robot systems for cooking in restaurant kitchens has secured investment worth approximately USD 8 million.
Competitive Analysis:
• The adaptive robotics market is highly concentrated owing to the presence of several international and regional vendors. Adaptive robotics manufacturers are offering products integrated with multiple features and advanced technologies.
• Some of the major players include iRobot, Rethink Robotics, SoftBank Group, Universal Robots, Yaskawa Motoman, Giraff Technologies, HONDA, PaR Systems, Robotiq, Teledyne SeaBotix.
• The key players are adopting various key strategies such as product launches, collaborations, mergers & acquisitions which are contributing to the growth of the Adaptive Robotics Market.
• IBM has announced that they can partner with businesses at different stages of their robotics journeys who are interested in adaptive robotics.
• For instance, In February 2019, Approximately USD 3.9 billion worth of acquisitions were done worldwide. For instance, Auris Health has acquired Johnson and Johnson which is into surgical robots’ technology for USD 3400 million.
• In April 2019, The Japanese technology group, Yaskawa, officially opened its new robot production facility with the European robotics development center at Kocevje in Slovenia.
• In November 2018, SoftBank Robotics and Brain Corp collaboratively announced a commercial robot vacuum in Japan, which is specially designed to be utilized in office environments and retail spaces.
Key Takeaways:
• Robotics, comprised of European Commission and 180 companies and research groups, has developed the SPARC initiative to create 240,000 jobs and grow Europe’s robotic market by USD 4.5 billion annually.
• Industry 4.0 has been targeting the digitization of the manufacturing process with the use of robots and other physical systems, to drive efficiency and operational flexibility.
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