According to a new report, published by KBV research, The Global Commercial Robots Market size is expected to reach $56.4 billion by 2029, rising at a market growth of 19.5% CAGR during the forecast period.
The Defense & Security segment is showcasing a CAGR of 19.7% during (2023 - 2029). The next phase of military development will involve the automation of defense operations by military robots. In addition, global communication is facilitated by adding automated systems and networking to the Internet. In the last ten years, the military industry has invested more money in security and surveillance. Furthermore, the rising government spending on the defense industry is creating further market expansion possibilities.
The Autonomous Guided Robotics segment is leading the Global Commercial Robots Market by Type in 2022 thereby, achieving a market value of $21.6 billion by 2029. Without a fixed conveying system or operator interaction, autonomous guided robot systems assist in moving and transporting goods in warehouses, manufacturing facilities, and distribution centers. It uses programmable guide pathways to streamline picking, storing, and transporting chores in a setting with premium square footage.
The Asia Pacific market dominated the Global Commercial Robots Market by Region in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $21.3 billion by 2029. The North America market is experiencing a CAGR of 19.2% during (2023 - 2029). Additionally, The Europe market would display a CAGR of 18.4% during (2023 - 2029).
Full Report: https://www.kbvresearch.com/commercial-robots-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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