ADAPTIVE ROBOTICS MARKET

 

 KEY FINDINGS

• FLEXIV has launched its 100th adaptive robot with its newest version of Rizon 4s, with stronger force control performance, better disturbance-rejection abilities, and multi-contact force control.
• China’s adaptive robot maker Flexiv raised over $100 M in series B funding.
• The Global Industrial Robotics market is estimated to reach $36B by 2026. Industrial segment to have a major share of the adaptive robotics market during the forecast period.
• Electrical and electronics industry increased the installation of adaptive robots in the industry.
• Material Handling robots market share to reach $16B by 2026 with an average yearly installation estimated to reach XX thousand by the end of 2026.
• Adoption of Machine Learning (ML), Internet of Things (IoT) and Artificial Intelligence (AI) in robotics to push the adaptive robot market to $ XX B in overall market value by 2026.
• Asia Pacific to remain the biggest market of industrial robotics with estimated XX thousand yearly installation of robots by 2026.

 

 

 

 

INTRODUCTION TO ADAPTIVE ROBOTS MARKET

Adaptive robots are capable of adapting to a dynamic environment and perform various complicated activities with high accuracy and precision.

 

With upgrades like force control technology, force sensing mechanism and hierarchical intelligence, adaptive robots are the next generation COBOTS.

 

With the use of artificial intelligence, these robots are able to perform functions by making their own decisions similar to what humans can do. The market has high growth prospects and can generate high revenue in the next 5 years.

 

ADAPTIVE ROBOTS MARKET DRIVERS

The main drivers of this market are

• The adaptive robots have the ability to increase efficiency in operations. Therefore, it also helps to reduce operational costs which is advantageous for companies.
• The increasing adoption of Internet of things (IoT) data is highlighting the need to adopt these robots in place of traditional ones.
• Rising research and development investments in artificial intelligence & machine learning and the arrival of industry 4.0 is another key factor.
• The growing adoption of lean and flexible manufacturing seems another driver of the market. 
• Changing dynamics of the market and fierce competition, automated and robotic solutions reduce the need for manual labour.

 

 

ADAPTIVE ROBOT MARKET SEGMENTATION

 

Adaptive Robots Market By Type

The different types of robots available are :

1. Industrial Robots
2. Consumer Robots
3. Logistics Robots
4. Service Robots
5. Swarm Robots           

 

Among all the types, service robots are expected to hold the highest market share in the future. Service robots are able to perform useful tasks as substitutes for humans.  For instance, Honda has developed a humanoid robot  “Asimo” that can help the elderly by getting them food or turning off lights. Demand for service robots in defense, healthcare, and agriculture is high due to labor costs, scarcity of skilled workers, and increasing awareness of service applications.

 

Adaptive Robots Market By Geography

The region wise segmentation can be done as follows:

1. North America
   1. U.S.
   2. Canada
   3. Mexico
2. Europe
   1. UK
   2. Germany
   3. France
   4. Russia
   5. Rest of Europe
3. Asia-Pacific
   1. China
   2. India
   3. Japan
   4. South Korea

 

North America is dominating the global adaptive robotics market and is estimated to hold the largest market size over the period 2021-2026. The North American market has grown due to the high demand for personal assistance robots, collaborative industrial robots and huge investments. 

 

For instance, The U.S. Department of Defense has been inviting proposals to establish an Institute focused on robotics in manufacturing environments. The federal government would provide a grant of $ 80 M over 5 years, which would be matched with at least $80 M from non-federal funding sources.

 

The second biggest player is Asia Pacific and is expected to grow at a highest CAGR during the forecast period. The adoption of robotics in APAC is mainly concentrated in China, Japan, India, and South Korea where it is being used for diverse and varied applications.

 

Europe, which is the third main region for adaptive robots is not expected to see strong growth due to stringent rules and regulations enforced in many key sectors which have the potential for robot usage

 

Adaptive Robots Market By Technology

Based on technology, the following segmentation is done:

1. Learning
2. Perception
3. Speech and Recognition
4. Vision and sensors
5. Mobility and Navigation

The growth of Artificial intelligence, developments in behavioral sciences, and improvements in communication & multimedia design in adaptive robotics will play a crucial role in expanding adaptive robotics usage in various applications

 

Adaptive Robots Market By Computing Location

1. On board
2. On cloud

The development of cloud computing for adaptive robots can further improve the expansion of the market.

 

Adaptive Robots Market By End User

The most important end users for adaptive robots are-

1. Retail and manufacturing
2. Banking
3. Healthcare
4. Travel and transportation
5. Construction
6. Logistics

 

Adaptive robots are proving its expectations in diverse fields from securing supply chain to reducing carbon footprint and helping seamlessly into Industry 4.0 strategies.

 

ADAPTIVE ROBOTS MARKET MAJOR CHALLENGES

The following challenges are being faced by companies which may restrict growth:

• Adaptive robots need high grade sensors for its vision and force sensing technology and these sensors soar the production cost of adaptive robots. 
• There is also a high cost of installation involved which reduces the demand for these robots. Apart from the high infrastructural cost, there is a huge maintenance cost the company has to bear.
• Safety and designing issues are further hindering the market’s growth globally.
• With AI and ML as an integrated part of adaptive robots, cyber security remains a major threat to deal with on the manufacturer as well as customer side.

 

 

RECENT DEVELOPMENTS IN ADAPTIVE ROBOTICS MARKET

June, 2021: Researchers at Yale University developed a hand that is capable of updating its model according to the external environment.

 

March, 2021: Scientists at Norway’s University of Oslo developed a four-legged robot named Dyret, that can adjust its leg length and walking gait on the fly as it encounters different surfaces.

 

Jan, 2021: China’s adaptive robot maker Flexiv raised over $100M in series B funding.

 

Dec, 2020: FLEXIV has launched its 100th adaptive robot with its newest version of Rizon 4s, with stronger force control performance, better disturbance-rejection abilities, and multi-contact force control. 

 

2019: Quiet Logistics use adaptive robots, which automatically drive to an item’s location, showing their human coworkers what and where to pick. This helped Quiet Logistics increase pickup accuracy and improve worker productivity by around 5-8 times.

 

 

ADAPTIVE ROBOTS MARKET COMPETITIVE LANDSCAPE

The adaptive robotics market is heavily concentrated among few players owing to the presence of few international vendors. The industry is also known for the high number of collaborations, mergers and acquisitions that take place among its players. 

 

Robotic investment and funding worth $4.8 B took place in April, 2021. These deals and their resultant synergies will lead to a further growth in the market

ADAPTIVE ROBOTS MARKET KEY PLAYERS

1. ROBOTIQ
2. Soft Robotics, Inc.
3. Rethink Robotics
4. Mabi-Robotic
5. KUKA
6. Yaskawa America, Inc
7. Epson America, Inc
8. Boston Dynamics
9. ANKI
10. Aethon Inc