Rockville, Jan. 31, 2023 (GLOBE NEWSWIRE) -- The global spherical robot market is estimated to exceed US$ 1,647.0 Million by the end of 2023, by growing at an impressive CAGR of 7.6% over the assessment period of 2023-2033.
A spherical robot is a ball-shaped mobile robot with a spherical outer shape. A cylindrical shell serves as the body of a spherical robot, and an internal unit that drives, or the robot's IDU, gives it the ability to move. The majority of spherical mobile robots roll across the terrain.
Explosive inventory growth in developing countries is accelerating market growth. The increase in demand in the industry has a positive effect on the growth of the market. The market is also driven by the growth of start-up companies offering robotic solutions for warehouse automation.
The Europe regional market accounted for a significant portion due to increased adoption in end-user industries such as film and television, surveillance production, and broadcast automation.
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|Spherical Robot Market Size (2022A)||US$ 1,521.8 Million|
|Estimated Market Value (2023E)||US$ 1,647.0 Million|
|Forecast Market Value (2033F)||US$ 3,426.2 Million|
|Global Market Growth Rate (2023-2033)||7.6% CAGR|
|North America Market Share (2023)||19.2%|
|No. of Pages||170 Pages|
|No. of Tables||140 Tables|
|No. of Figures||119 Figures|
With the increasing use of robots, the industrial ecosystem is also looking for effective robots so that they are equipped with the required capabilities. Several types of spherical robots now have sensors, cameras, welding torches, collision sensors, etc., and are experiencing a surge in demand in a variety of applications.
Moreover, the presence of key players continuously engaged in research and development activities will boost product demand in the region during the forecast period estimated from 2023 to 2033.
Key Companies Profiled
- Midwest Engineered Systems.
- KUKA AG
- FANUC America Corporation
- SuperDroid Robots Inc.
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Key Takeaways from Study
- Global spherical robots market is poised to reach the valuation of US$ 3,426.2 Million by the end of 2033.
- The global spherical robots market witnessed a healthy CAGR of 5.4% during 2018 to 2022.
- By operation segment, autonomous operation is likely to account for 68.3% of revenue share by obtaining a valuation of US$ 1,124.2Million in 2023.
- South Asia & Oceania region is expected to register a CAGR of 9.7% over the forecast period, as it will be valued at US$ 200.9 Million by 2023 end.
- Under end use industry segment, electrical & electronics spherical robots is estimated to account for approximately a 28.5% share of aftermarket sub-segment in 2023.
- Germany in Europe region provides more revenue generation opportunities and is expected to capture a market share of 31.0% in 2023.
“Demand for autonomous spherical robot will rise in the future leading to consistent revenue generation” says a Fact.MR analyst
Segmentation of Spherical Robot Industry Research
- By Type :
- By Operation :
- Remotely Piloted
- By Application :
- Material handling
- Inspection & Surveillance
- By End-Use Industry :
- Aerospace and Defense
- Chemicals & Materials
- Electrical & Electronics
- Food and Beverage
- Mining & Oil & Gas
- Retail & e-Commerce
- Logistics & Warehousing
- By Region :
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East & Africa
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More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global Spherical Robots market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.
The study divulges essential insights on the market on the basis of type (electric, pneumatic, hydraulic), operation (e autonomous, remotely piloted), application (packaging, palletizing, material handling, painting, welding, assembly, inspection, cutting, dispensing), end use industry (aerospace and defense, automotive, chemicals & materials, electrical & electronics, food and beverage, healthcare, mining & oil & gas, retail & e-commerce, logistics & warehousing, packaging, others) and across six major regions (North America, Latin America, Europe, East Asia, South Asia and Oceania, The Middle East & Africa).
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