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September 22, 2021

Inside the $45bn robotics market: The taxonomy and value chain behind today’s robot helpers

The robotics industry was worth $45bn in 2020, and by 2030, it will have grown at a CAGR of 29% to $568bn.

By GlobalData Thematic Research

Robotics is a fast-growing industry. According to GlobalData forecasts, it was worth $45bn in 2020, and by 2030, it will have grown at a compound annual growth rate (CAGR) of 29% to $568bn.

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In a recent report on robotics, GlobalData researchers expect every segment of the robotics market to grow over the next decade. Industrial robots will function as a growth driver and innovation in the segment will spill over to other areas.

Today’s robots exist to fill the same role that automata have filled for the last 5,000 years: That is, for entertainment or to replace humans in repetitive or strenuous tasks. Industrial robots fall into the latter category. Service robots include machines built to help humans with work or chores at home and robots designed to entertain.

Industrial and service robots are the two main categories within robotics. The former kind are typically used in factories to automate parts of the manufacturing process and can be split into two sub-categories, caged industrial robots and cobots.

Service robots meanwhile assist humans at work in non-industrial settings or in the home. They can be split into eight main subcategories: logistics, medical, consumer, field, defense and security, inspection, cleaning and maintenance robots, exoskeletons and drones.

The robotics industry value chain

Building a robot is a highly complex task that involves an extensive supply chain. The core segments are hardware components, software components, robot manufacturing and robotics as a service.

Robotics orders from electronics, machinery, plastic, chemical products, and food processing companies have increased. The widening of the robotics market will favour all stakeholders as it is likely to lead to more innovation.

Diversification also makes all players involved in the robotics value chain more resilient, as they become less dependent on a single industry. Find out more in the full Robotics report from GlobalData here

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Determine the future strategies for IoT in Mining

IoT can be beneficial across the whole mining value chain, from prospecting to reclamation. The technology allows different assets and people to be monitored and accounted for across vast distances in hazardous conditions.  GlobalData’s IoT in Mining Thematic Research report provides you with an in-depth lens into the impact of IoT on the industry. We highlight both the challenges and opportunities associated with the innovative technology now, and in the future. Our report also covers: 
  • Major players and companies 
  • Market size and growth forecasts 
  • Case studies  
  • Sector scorecard 
GlobalData predicts that the revenue from IoT in mining will grow to reach $1.9 billion by 2025, with a compound annual growth rate (CAGR) of 6.2% between 2020 and 2025. Ensure your company is proactive in adapting strategies and processes to help you remain competitive.   Download the full report to get ahead of the competition
by GlobalData
Enter your details here to receive your free Report.

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