On this note, GMI., global robot market size is projected to surpass USD 12 billion by 2030. The growing necessity to eliminate human errors and enhance work efficiency is leading to the increasing deployment of robots across all industrial verticals, including retail, education & scientific research, hospitality, and healthcare sectors among others. In 2020, the emergence of the COVID-19 virus drastically increased the demand for UVC robots and delivery robots to implement effective sanitization processes and contactless delivery of medical supplies and foods to patients.

These robots played a crucial role in extreme shortages of cleaning workers, medical staff, and traditional surface disinfectants during the coronavirus pandemic. This led to extensive R&D activities in the medical robotic field to develop more efficient robots to deal with such healthcare crisis situations, resulting in substantial robot market growth.

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Robot manufacturers across the world are also eyeing strategic acquisitions and novel product launches to gain an upper hand in global completive market landscape. Citing an instance, in August 2019, Blue Ocean Robotics joined hands with Suitable Technologies to buy Robot Beam to expand their robots’ portfolio, customer services, and distributor network.

The below mentioned factors are set to play a pivotal role in propelling the market growth:

Rising penetration across hotels & restaurants

Deliver robots, such as serving robots and indoor delivery robots are becoming increasingly popular in hotels, restaurants, and shopping malls owing to their ability to handle multiple tasks with efficiency. In hotels and restaurants, delivery robots are widely deployed for serving and delivering food to minimize the delivery time and render contactless deliveries to customers.

There has been increasing consumer footfall in restaurants and hotels in countries like the U.S., which would encourage the adoption of robots to efficiently tackle food orders in volume. As per the U.S. Department of Agriculture, consumers spending on away-from-home-food in restaurants, fast-food places, and other eateries was around USD 978.2 billion in 2019, representing ample deployment scope for serving and indoor delivery robots.

Growing demand for security robots in real estate

Growing necessity to tighten security measures at important public places, such as airports, metro railway stations, museums, universities, and hotels, among others, is propelling the adoption of guide/security robots. These types of robots are primarily deployed to perform guidance and patrolling tasks.

Security robots are witnessing a high deployment rate in the real-estate sector owing to the rising safety concerns of the residents. For example, in March 2021, Westland Real Estate deployed a 24/7 autonomous security robot designed by Knightscope at Liberty Village Apartments in Las Vegas, to improve the security & safety of residents.

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Transforming manufacturing sector in APAC

Asia Pacific is becoming a fast-evolving market for the robot business owing to the rapid adoption of industry 4.0 across the manufacturing sector. Growing labor costs and shortage of skilled manpower are encouraging industries to deploy automated robots in facilities and countries to take initiatives towards the strengthening of the robot market.

China, Singapore, and Japan are extensively focusing on introducing novel robotic solutions to automated daily routine tasks and tackle the shortage of manpower. Moreover, the existence of well-established robotic companies, such as Hyundai Robotics, Kawada Robotics, Epson, Honda Robotics, Mitsubishi, and Kawasaki are among some notable factors influencing the robot business in APAC.

In a nutshell, the growing dependence on automation and machines across several industrial verticals to enhance the efficiency of processes and achieve the desired outcome would positively impact global robot market forecast by 2030.

Table of Contents (ToC) of the report:

Chapter 1   Methodology and Scope

1.1    Methodology

1.1.1    Initial data exploration

1.1.2    Statistical model and forecast

1.1.3    Industry insights and validation

1.1.4    Scope, definition and forecast parameters

1.1.4.1    Definitions

1.1.4.2    Assumptions, methodology and forecast parameters

1.2    Region-wise COVID-19 impact analysis

1.2.1.1    North America

1.2.1.2    Europe

1.2.1.3    Asia Pacific

1.2.1.4    Latin America

1.2.1.5    Middle East & Africa

1.3    Data Sources

1.3.1    Secondary

1.3.2    Primary

Chapter 2   Executive Summary

2.1    Robot market industry 360° synopsis, 2017 – 2030

2.1.1    Business trends

2.1.2    Regional trends

2.1.3    Product trends

2.1.4    Vertical trends

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