The North America Commercial Robots Market would witness market growth of 19.2% CAGR during the forecast period (2023-2029).
The increased recognition of the advantages of medical robotics in the healthcare industry has also accelerated the sector's growth. The healthcare sector strongly favors technological advancement. The main drivers of the market's expansion have been the IoT sector and robotics investments. Several basic operations are managed by robots in commercial applications, which emphasizes the importance of robotics. Demand for commercial robotics has increased during the previous ten years.
This is because robotics and artificial intelligence including localization, probabilistic inference, tracking, planning & search, and control are becoming convergent. Due to their advantages, including enemy tracking, use in combat zones for reconnaissance of uncharted areas or structures, force protection, assistance in the search for missing or hurt soldiers, and a real-time view of various missions, UAVs and drones are being adopted by the defense and military sectors. In addition, several cooperation between emerging countries for developing unmanned aerial vehicles is also being seen in the business.
Increased awareness of crop quality and innovative initiatives to bring innovation to the industry are two key trends in the regional market. The Precision Agricultural Connectivity Act was passed in 2018 to address the connectivity requirements of the precision agriculture industry in the US. The regulatory body assembled a task force to conduct research and make suggestions for policy regarding how to increase broadband internet connectivity in croplands. Also, the region has seen a surge in government incentives for employing cutting-edge agricultural technologies and an infrastructure upgrade. As a result of all these factors, the market is growing in the North America region.
The US market dominated the North America Commercial Robots Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $12,329 million by 2029. The Canada market is poised to grow at a CAGR of 21.9% during (2023 - 2029). Additionally, The Mexico market would witness a CAGR of 20.9% during (2023 - 2029).
Based on Application, the market is segmented into Medical & Healthcare, Defense & Security, Agriculture & Forestry, Marine and Others. Based on Type, the market is segmented into Autonomous Guided Robotics, Medical Robots, Drones, Field Robots and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Commercial Robots Market is Projected to reach USD 56.4 Billion by 2029, at a CAGR of 19.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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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