Global Micro-Robots Market is expected to grow progressively with an accelerated CAGR of 65.1% during 2018-2024.
The growth is primarily attributed to the increasing demand for surgical micro-robots, technological advancements in manufacturing sector, and increasing usage of smart phones and tablets. Electronic devices such as smart phones require precision manufacturing to perform detail-oriented tasks, which has led to the rapid increase in the adoption of micro-robots. Moreover, increasing adoption of robotic technology in medical field is further boosting the market growth.
The years used for the assessment are as follows:
Historical year : 2014, 2015 and 2016
Base year : 2017
Forecast period : 2018 – 2024
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The research and analysis is based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are:
Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, and other secondary sources
Interacting with key opinion leaders of the market and developing data points based on interaction with them
Study of past trends in the market and their year on year impact on the market size and share
Analyzing the collected data points
Bridging the data points to calculate the total micro-robots market and it various segments
Anticipating potential risks
Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the global micro-robots market.
Finalizing the overall size and share for the global micro-robots market
To classify the global micro-robots market into segments on the basis of mode of operation, manufacturing material, applications, end-use, and region and analyze their growth prospects individually
To analyze market trends, opportunities, drivers and restraints associated with the global micro-robots market
Profiling key companies operating in the global micro-robots market
To study market response with respect to the mergers and acquisitions in the industry
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The research scope for global micro-robots market is as follows:
By Mode of Operation
By Manufacturing Material
Bio compatible hydrogels
Surface Defect Detection
Mobile Sensor Networks
Search and Rescue
Medical & Healthcare
Rest of Europe
Rest of APAC
Rest of the World (RoW)
Central and South America
Middle East and Africa
Micro-robots are the small size machines that are designed to perform the tasks with precision. They have a dimension less than 1mm, and have potential use in the various applications including manufacturing, healthcare, and automotive among others. Unlike conventional robots, micro-robots are flexible and motor-less, and therefore, micro-robots are majorly used in medical sector. Furthermore, the adoption of micro-robots in healthcare is increasing rapidly, as it helps medical professionals in the diagnosis and treatment of various diseases.
The major concern while operating the micro-robots is its power source. With the advancements in technology, the size of the components has reduced to micro scale and also resulted in the reduction of the volume capacity of the battery. Thus, to provide on-board power to a micro-robot is extremely challenging. Therefore, micro tools and sensors are employed due to their high operational value. Moreover, the adoption of wireless power sources such as optical power, radio frequencies, ambient energy scavenging and the usage of bacteria as a power resource in micro-robots is also expected to propel the market growth during the forecast period.
Geographically, the global micro-robots market is segmented in North America, Europe, Asia-Pacific, and Rest of the World. North America held the largest share of the global micro-robots market in 2017. The growth in the region is attributed to the presence of major device manufacturers. Furthermore, Asia-Pacific is expected to register the highest CAGR during 2018-2024. The growth of the market is mainly driven by increasing demand of medical robots in the healthcare industry and growing demand for military robots in search and rescue operations.
Key players of the global micro-robots market includes Techject Inc.; Seiko Epson Corporation; Thermo Fisher Scientific Inc.; QinetiQ; THALES S.A.; Northrop Grumman; Clearpath Robotics; ReconRobotics Inc.; among others.
Few Important Points From Table of Contents
Global Micro-Robots Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024
CHAPTER 1. Market Scope and Methodology
CHAPTER 2. Executive Summary
CHAPTER 3. Industry Analysis
CHAPTER 4. Competitive Outlook
CHAPTER 5. Global Micro-Robots Market Size and Forecast (2014 – 2024)
CHAPTER 6. Global Micro-Robots Market Size and Forecast, By Geography (2014-2024)
CHAPTER 7. Key Players and Strategic Developments
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