The Asia Pacific Commercial Robots Market would witness market growth of 19.9% CAGR during the forecast period (2023-2029).
Robots are employed to complete complex and challenging activities, and these autonomous devices are useful in the commercial industry to complete all harmful tasks for people. Humans occasionally avoid performing these kinds of duties due to danger, similar to working in the deep ocean, but companies can avoid this problem by using robots. They aid in operating in confined spaces as well. Robots are utilized in many hazardous locations and carry out numerous duties that are hazardous to people.
For example, work that involves extreme heat or temperature can result in burns or explosions that are risky for humans to accomplish; robots handle these kinds of explosive operations. Many people associate robots primarily with industrial uses. Robots do have further business uses, though. Commercial robots are now being used in many industries because of technological improvements. In addition, robotic applications are incredibly useful, especially for tedious and challenging tasks. So, it is anticipated that demand for commercial robots will increase even further in the coming decade.
Remotely operated vehicles (ROVs) and autonomous underwater vehicles are greatly needed due to the region's oil and gas industry's recent rapid rise (in AUVs). In addition, an increasing tendency for automation is also being seen in Australia, India, and China, along with globalization. Additionally, China and South Korea significantly influence the use of robots due to the large deployment of the automobile and electronic manufacturing industries. The automotive industry has grown quickly in China, which is significant to the sector. According to the Chinese government, the automobile industry in China, which includes the auto parts industry, is one of the key pillar industries. Furthermore, as a result of the aging population in the area, government organizations want to deploy robots in the workforce more frequently.
The China market dominated the Asia Pacific Commercial Robots Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $6,500.4 million by 2029. The Japan market is estimated to grow a CAGR of 19.2% during (2023 - 2029). Additionally, The India market would experience a CAGR of 20.7% during (2023 - 2029).
Based on Application, the market is segmented into Medical & Healthcare, Defense & Security, Agriculture & Forestry, Marine and Others. Based on Type, the market is segmented into Autonomous Guided Robotics, Medical Robots, Drones, Field Robots and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Commercial Robots Market is Projected to reach USD 56.4 Billion by 2029, at a CAGR of 19.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Google LLC (Alphabet, Inc.), Omron Corporation, Boston Dynamics (Hyundai Motor Company), Northrop Grumman Corporation, iRobot Corporation (Amazon.com, Inc.), Kuka AG (Midea Investment Holding Co., Ltd.), Yaskawa Electric Corporation, Honda Motor Co. Ltd., Accuray Incorporated and AeroVironment, Inc.
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