Growing Adoption of Automation to Drive the Market for Robotics
Industrial robots play a crucial role in industry automation, with many core operations in industries being managed by robots. The market has been witnessing huge demand over the past decade, owing to the rising consumption advantages of smart factory systems. Growing penetration of the IoT and investments in robotics have been the major contributors to the growth of the market. Innovations in technology have enabled industries to use robots to streamline many processes, increase efficiency, and also eliminate errors. Some of the major factors driving the market include, rising demand for high-quality products (which need proper end-to-end visibility in the manufacturing process), for energy conservation and growing focus on workplace safety. Incremental advancements in technology, coupled with sustained increase in the development of manufacturing facilities, are also expected to drive the market studied in the near future.
North America to Hold the Largest Share of the Market
The manufacturing sector is a key aspect of a country’s GDP, indicating economic health. The market for digital transformation is undergoing major changes with the penetration of IoT, in North America. The rise of wireless networking technology is enabling revolutionary developments (including the increasing number of flexible factories) while also spurring the use of consumer mobile devices to monitor and manage industrial processes. According to Robotic Industries Association (RIA), a total of 23,985 robots were ordered from various North American countries with a value of USD 1.3 billion in the first nine months of 2016. Though North America being a mature market concerning the technology adoption, the Industrial 4.0 initiative, need to improve employment rate, and productivity in the United States, the market for digital transformation in manufacturing is expected to grow substantially.
Key Developments in the Market
- November 2017 - IBM acquired Agile 3 Solutions, a San Francisco-based company that develops software used by the C-Suite and senior executives to better visualize, understand and manage risks associated with the protection of sensitive data. The acquisition is aimed at complementing the company’s security solutions across the cloud and IoT platforms
- June 2017 - GE launched New Solutions Purpose Built For Industrial Assets. GE Digital launched an integrated solution to deliver the industrial service model of the future that combines the power of ServiceMax, which is company's cloud-based field service management solution, with its intelligent Asset Performance Management portfolio to develop service operations, reduce cost, and eliminate unplanned downtime
- March 2017- Siemens acquired Mentor Graphics, which is now part of Siemens' product lifecycle management (PLM) software business, making the combined organization the world's leading supplier of industrial software used for product design, simulation, verification, testing, and manufacturing
Reasons to Purchase this Report
- The growing adoption of automation across manufacturing industries has been identified as a major driver in the global market scenario
- The report analyzes the various perspectives of the market with the help of Porter’s five forces analysis
- The type of technology that is expected to dominate the market
- The regions are expected to witness fastest growth during the forecast period
- Identifying the latest developments, market shares, and strategies employed by the major market players.
- 3-month analyst support, along with the Market Estimate sheet in excel
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1.1 Study Deliverables
1.2 Study Assumptions
1.3 Market Definition
2 Research Methodology
3 Executive Summary
4 Market Dynamics
4.1 Market Overview
4.2 Supply Chain Analysis
4.3 Industry Attractiveness - Porter's Five Force Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Competitive Rivalry
5 Market Insights
5.1 Factors Driving the Market
5.1.1 Inclination Of Manufacturers Towards Energy Efficient Processes
5.2 Factors Restraining the Market
5.2.1 Lack of Technical Expertise
6 Digital Transformation Penetration Overview
7 Technology Snapshot
8 Global Digital Transformation in Manufacturing Segmentation
8.1 By Technology
8.1.3 3D Printing and Additive Manufacturing
8.1.5 Others ( Big Data and Analytics,Machine Learning and Artifical Intelligence, Advanced HMI)
8.2 By Region
8.2.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Reat of Europe
18.104.22.168 Rest of Asia Pacific
8.2.4 Rest of the World
22.214.171.124 Latin America
126.96.36.199 Middle East & Africa
9 Competetive Intelligence
9.2 ABB Ltd.
9.3 Yaskawa Electric Corporation
9.4 Denso Corporation
9.5 Fanuc Corporation
9.6 Kuka Robotics
9.7 " Kawasaki Robotics
*List not Exhuastive"
10 Investement Analysis
11 Future of Digital Transformation In Manufacturing Market
- General Electric
- Kuka Robotics
- ABB Ltd.
- Yaskawa Electric Corporation
- Denso Corporation
- AT&T Inc.
- Mircosoft Corporation
- SAP SE
- Stratasys Ltd
- 3D Systems Corporation
- EOS GmbH
- Cisco Systems Inc.
- Dell Technologies Inc.
- Kaspersky Labs