Robots completely replace humans? Analysis of industry trends in the next 5 years

- Sep 15, 2019-

The global robot market is valued at approximately $25.65 billion in 2018 and is expected to grow at a compound annual growth rate of more than 11.51% during the 2019-2026 forecast period; the human-like robot market will grow at a rate of 50.5 per annum in 2017-2016. %. In 2026, the micro-robot market could reach $2 billion!


The shocking data of this group seems to indicate that robots will continue to be a booming sunrise industry in the coming years.

Regional analysis of the global robotics market is considered to be applicable in important regions such as North America, Europe, Asia Pacific, Latin America and the rest of the world. North America is the world's leading/important market share in terms of market share due to the increasing use of robotics in defense, security and healthcare, and the increase in disposable income in the region.


In the next few years, Europe is expected to grow at a significant rate in the global robotics market. According to the data mentioned above, it is expected that the global demand for the robot market will be high in the next five years. Although robots may not perform as humans or humans in appearance, any robot that operates automatically can replace the human workforce.


Therefore, during the forecast period, more and more enterprises adopting robots that reduce labor costs, and the increase in demand in the automotive industry are the main factors driving the market. In addition, the growing demand and increasing investment of SMEs is another factor driving the demand for robots worldwide.


In the near future, strengthening technological advances and the growing demand of developing economies are factors that may create large demand.


While the robotics market continues to grow at an alarming rate worldwide, robotics is also growing rapidly. Among them, the design, construction and operation of robots belong to engineering disciplines, and the factors limiting market growth are high installation and maintenance costs and a shortage of trained technicians.


From the perspective of market segments, the compound annual growth rate of humanoid robots will exceed 50%. In 2017, the global humanoid robot market accounted for $3.33 million, and by 2026 it is expected to reach $13,371.9 million. From 2017 to 2026, the compound annual growth rate will reach 50.5%.


The humanoid robot is a robot similar in shape to the human body. Humanoid robot developers are dedicated to solving problems including bipedal movement, smart operation, audiovisual perception, human-computer interaction, adaptive control and learning, which are aimed at humanoid robots.


The humanoid robot development industry is constantly working on robots that can be closely assisted by humans in the same environment that is designed to meet human needs. The use of educational robots and caring for patient robots has soared.


Although the demand for high retail and the continuous improvement of robotics are key factors driving the global humanoid robot market, high R&D expenses are inhibiting market growth.


Recently, Oliver Mitchell, founder of venture capital firm focused on the investment in the robotics industry, published an article introducing micro-robots that can be used for pipeline maintenance. Urban underground transportation pipelines face various problems such as corrosion, aging, cracks, etc. As the global demand for oil and natural gas increases, the urban pipeline network will continue to expand, and the inspection and maintenance of pipelines will become a new municipal work. difficulty.


In order to minimize the work of people in dangerous working environments, robots are increasingly used in various vertical fields, such as the detection and maintenance of transportation pipeline networks such as oil, natural gas and drinking water. According to ZionMarket Research, the global pipeline inspection robot market is estimated to exceed $2 billion over the next six years, more than three times the current sales of $600 million.


In the care of patient robots, studies have shown that the market size will soar to 17.4% compound annual growth rate in the next few years, and is expected to reach 140 million US dollars by 2024.


Such data seems to imply that the demand for global robots will continue to rise in the next few years.