The GlobalRobotics market is projected to reach a size of USD 29.41 billion by the end of2019 at a CAGR of 12.3% for the period between 2014 and 2019 according to thereport on the Chinese Robotics Industry released by the Chinese Institute ofElectronics during the previous week. The industrial robot market is projectedto reach a size USD 15.92 billion, while the service robot and the specialrobot markets are projected to reach sizes of USD 9.46 billion and USD 4.03billion respectively.

Figure 1: Marketshare for the Global Robot Industry 

IndustrialRobots

Industrialrobots have already been seeing extensive usage in automobile, electronics,metal products, plastics and chemicals industries, and as robot performances improvealong with an increasing number of applicable scenarios. The industrial robotmarket has been growing at a pace of 8.3% since 2014. According to data fromthe International Federation of Robotics’ report, China, Japan, the US, South Koreaand Germany were responsible for 3/4ths of worldwide sales. The demand for automatedindustry from these countries has further incentivized the robotics market and havealso caused a great increase in the usage of industrial robot worldwide to arate of 85 robots/10,000 people.

Industrial Robot sales in 2018 reached USD 15.48 billionin total, with sales in Asia, Europe and North America respectively reachingfigures of USD 10.48 billion, USD 2.86 billion and USD 1.98 billion respectively.This sales figure is projected to reach a total of USD 16 billion by the end of2019 due to the spike in popularity for industrial robots. Asia is projected tomaintain its status as the largest sales market.

Figure 2: Market size and projections for the Global Industrial Robot Market

Service Robots

The global service robot markethas been growing at an average pace of 21.9% per annum, with the marketprojected to reach a size of USD 9.46 billion by the end of 2019 and USD 13billion by the end of 2021. The global markets for domestic robots, medical andpublic service robots were at USD 4.2 billion, USD 2.58 billion and USD 2.68billion in 2019, with the domestic robot market representing the largest shareof the service robot market at 44%. Medical and public robots’ market shareswere at 27% and 28% respectively

Figure 3: Market size and projections for the Global Service Robot Market