The robotics market in Middle East is expected to grow by USD 166.18 million as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of about 2%.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200909005683/en/
Technavio has announced its latest market research report titled Robotics Market in Middle East 2020-2024 (Graphic: Business Wire)
Request challenges and opportunities that influence COVID-19 pandemic – Request Free Sample Report on COVID-19 Impacts
Read the 120-page report with TOC on “Robotics Market in Middle East Analysis Report by Application (Services and Industrial) and the Segment Forecasts, 2020-2024”.
The market is driven by the growing demand for robotic automation process. In addition, the increasing adoption of robotics in diverse fields of application is anticipated to boost the growth of the robotics market.
Business across sectors such as industrial, banking, hospitality, and healthcare are increasingly adopting automation to improve the efficiency and safety of their operations and increase revenues. For instance, firms in the BFSI sector in the Middle East have adopted robotic process automation to automate various processes such as loan application processing, KYC compliance, credit card limit checks, refinancing, and others. This is helping them to eliminate manual, repetitive, and time-consuming activities and improve the efficiency of operations. The increased adoption of robotic automation process in various sectors is fueling the growth of the robotics market in the Middle East.
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
View market snapshot before purchasing
Major Five Robotics Companies:
ABB Ltd. operates its business through segments such as Electrification, Industrial Automation, Motion, Robotics & Discrete Automation, and Corporate and Other. The company offers a line of products such as IRB 1100, IRB 120, IRB 1200, IRB 5350, and YuMi – IRB 14000 | Collaborative Robot among others.
DENSO Corp. operates its business through segments such as Thermal Systems, Powertrain Systems, Electrification Systems, Mobility Systems, Electronic Systems, and Non-Automotive Businesses (Factory Automation and Agriculture). The company designs and manufactures industrial robot arms and small assembly robots, from four-axis SCARA robots to five and six axis articulated robots that are majorly used in manufacturing facilities.
KUKA AG operates its business through segments such as Systems, Robotics, Swisslog, Swisslog Healthcare, and China. The company offers a range of products such as KR IONTEC, KR QUANTEC, KR 3 AGILUS, and LBR iiwa among others.
LG Electronics Inc.
LG Electronics Inc. operates its business through segments such as Home Appliance & Air Solution, Home Entertainment, Mobile Communications, Vehicle Components, Business-to-Business, LG Innotek, and Other segments. The company offers industrial robots that are used in a wide range of applications such as assembling, material handling, and painting among others.
Mitsubishi Electric Corp.
Mitsubishi Electric Corp. operates its business through segments such as Energy and Electric Systems, Industrial Automation Systems, Information and Communication Systems, Home Appliances, and Other. The company offers a line of products such as vertical type robot, horizontal type robot, collaborative robot, environment-resistant specifications type robot, and micro working robot among others.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Technavio’s SUBSCRIPTION platform
Robotics Market Application Outlook (Revenue, USD Million, 2019-2024)
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Request a free sample report
Related Reports on Industrials Include:
Global Robotics Market – Global robotics market by application (industrial and services) and geography (APAC, Europe, North America, MEA, and South America).
Global Robotics as a Service Market – Global robotics as a service market by application (intralogistics, medical applications, surveillance and security, field robotics, and others) and geography (APAC, Europe, MEA, North America, and South America).
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200909005683/en/
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200