The global commercial robot market is one of the fastest-growing sectors of the economy. According to a report by 360 Market Updates, it’s estimated that its value was about $10.94 Billion as of the end of 2019. A number estimated to rise to the highs of $58.51Billion by 2025.
In 2020, this trend is expected only to go higher. Why?
Well, because of the state of technology in the world today. Industries are increasingly running towards commercial robots to leverage on production.
Nonetheless, this isn’t the only reason why this sector is booming.
In this article, we’ll look into five reasons why this sector is rapidly expanding.
- An increasing number of businesses
The market today is saturated with numerous companies offering similar products. This trend is not likely to die soon. Each day, you can expect a new industry to crop up and try its luck in the market.
The more industries and businesses grow, the more the competition stiffens. Subsequently, the industries result to commercial robots to keep up with the competition.
Moreover, many investors are willing to spend their money on commercial robots as they’re known to have a fast ROI. Regardless of the field of application, new industries and businesses will significantly benefit from this technology.
- Extensive application in different fields
Another big reason why commercial robots are increasingly popular is its application in various areas. From Manufacturing to Automotive, to healthcare and agriculture, the robots are adopted to bring changes to the industries.
Furthermore, in different industries, the robots handle more than one tasks. For example, in healthcare, commercial robots are used in the laboratories, during surgeries and even as nurse assistants.
Here, they not only make work faster but also more efficient and profitable.
In agriculture, the robots are applied in harvesting, milking cows, planting, pruning, among others. Modern farmers are encouraged to invest in this technology to boost their production scale and minimize losses.
As engineers discover new applications of the robots each day, 2020 holds a bright future for the tech.
- Innovation and Research
We’re living in an age where every company believes in research and innovations. Today, almost every company or business has a research team in place looking for better ways to improve production.
Additionally, the companies and governments are spending billions on research and innovations each year. The commercial robot is one product that’s likely to benefit.
In 2020, it’s expected that companies will come up with more application areas for the robots. Moreover, more industries are expected to pick up the tech to improve their businesses.
Industries like transport, food and hospitality, and security also project to find better ways of using commercial robots.
- Effectiveness of the robot
Commercial robots are changing the performance of many industries. In 2019, there was a massive adoption of this technology into sectors. From Medical robots to agricultural and industrial robots, managers enjoyed the benefits of this technology.
Commercial robots are faster, more accurate and more productive than human workers. They’re also safer and reduce wastage of materials during production.
As such, they result in more productivity, efficiency and profitability. Moreover, commercial robots help cut down costs in industries.
All these are factors managers want for their businesses. Therefore, in 2020 we expect that more managers will run towards these robots for their industries.
- Effect of the developed countries
Most developed countries have an active need for commercial robots. Countries such as the United States, Germany, Japan and China play a crucial role in driving the commercial robot’s market.
In 2020, these countries expect to increase their investment in robots. As such, they’ll increase their competitiveness, and result in increased demand for the robots.
The market dynamics are shifting, and commercial robots are on the positive end of the tide. 2020 is a year expected to bring in a lot of technological changes, and commercial robots are certainly one of them.
Due to the expanding businesses, application areas, innovation and research and impact on businesses, you can be sure that in 2020, commercial robots will certainly boom.