The Market Mechanics of Robotics

The field of Robotics has progressed leaps and bounds from the time of its introduction. Furthermore, the robotics field is expected to expand into new regions, with the adoption of automation by small and medium-sized sectors.

We all remember how the people were instantly captivated when Honda first introduced "ASIMO." Every innovation in the field of robotics has been aimed towards making the life of humans more simpler.

But somehow whenever we think of robots and robotics, our mind immediately goes to the robots that look like humans. These robots are called humanoid robots which are modeled to replicate human-like attributes.

The excitement behind humanoid robots is evident and understandable, but however, one must know that it is not just limited to that. We are living in a mechanical world were anything, and everything is either being operated by or controlled by robots. Each of these robots has its own specialized function and can perform at an efficiency that is much higher than that of humans.

The purpose of this blog is to classify the Robots into five major categories based on their application and study each of these categories with their latest developments and market trends.

Based on the application of robots, the robotics industry can be classified into,

•  Industrial Robots

These robots are specifically designed to perform one activity with high efficiency. Usually, these robots have articulated arms created specifically for applications such as welding, handling of materials, painting, etc.

•  Medical Robots  

Robots that are used in the medical sciences is termed as medical robot.The most known popular robot in the medical category is the surgical robot.

• Military Robots

Military robots are independent robots or mobile robots intended for military application such as transportation to search & rescue and attack.

•   Space Robots 

These robots are meticulously designed to operate in space. The space robots help in space explorations and other space-related studies. 

• Domestic Robots

A domestic robot is a sort of service robot.That is an autonomous robot which is mainly used for household tasks,but can also be used for training,entertainment or therapy purposes.

•  Humanoid Robots  

 A humanoid robot is a robot constructed to resemble the human body form.The Human like design can be intended for functional reasons such as interacting with human instruments and surroundings,experimental purposes,such as studying bipedal locomotion ,or other purposes.

All these robots have become essentials to humans one way or the other. This has created a huge demand for more innovation in the robotics fields. To address these demands, investments from different entities have started to pour, thereby causing a sharp increase in the robotics market.

We will dig deeper into each of the above categories in the subsequent blogs with their market analysis, market trends, latest innovations, and how the future looks. 

If you want to know more about the robotics market with vital insights and intelligence about the competitive landscape, click here.