Robotics and Automation Actuators Market: Introduction
The need to decrease downtime and build profitability in industrial areas and manufacturing exercises across the globe are the central point expected to boost the robotics and automation actuator market around the world. The improvement of affordable and advanced robotics and automation actuators, and surging demand for automated robots in industry in various verticals are among the many scope affecting the development of the robotics and automation actuators market.
Robotics and Automation Actuators Market: Novel Development
- In August 2018, Rockwell Automation got an agreement from the National Copper Corporation, Chile to supply control frameworks for Chuquicamata underground mine worth US$50 mn. This agreement incorporates the supply, collection, and setup of 4 frameworks which contain mine control frameworks.
- In November 2018, ABB got an agreement from China Petroleum Engineering and Construction Corporation (CPECC), China worth US$79.0 mn for the upgradation of the Bab Onshore Field in Abu Dhabi. This agreement incorporates the completely coordinated ABB Electrical, Control and Telecommunication (ECT) solutions just as unified automation framework which is relied upon to decrease the activity cost of the oilfield by 10 – 15%.
- In September 2018, Moog and MHD RockLand consented to tie-up with the dispersion for P-3 Orion. This includes overall client backing to support and expand the operational existence of P-3 Orion community plane.
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The major players in the robotics and automation actuators market incorporate Rockwell Automation (US), ABB (Switzerland), Altra Industrial Motion (US), SMC (Japan), Moog (US), MISUMI (Japan), and Curtiss Wright (US), among others. ABB is one of the main players in the global robotics and automation actuators market. The organization has a huge revenue contract with nations, for example, China. It holds a more prominent share in robotizing industrial procedure crosswise over various industrial verticals. The organization has likewise been concentrating on the mergers with small firms to expand its product contributions just as market share. It has embraced a few different techniques, for example, agreements, associations, and the introduction of new manufacturing services to reinforce its market position to guarantee future development.
Global Robotics and Automation Actuators Market Dynamics
Rising Usage in Several Industrial Verticals to Bolster Growth
The application section of worldwide robotics and automation actuators market has been classified into process automation and robotics. The automation of parts incorporates different application sectors over various industries where automation actuators are utilized. The robotics part incorporates the robotic actuators required for service robots and modern robots which are utilized crosswise over various industry verticals. The demand for manufacturing plant automation is expanding crosswise over enterprises because of the changing pattern of consumption, and manufacturing of services and goods. For instance, in the food and drinks sector, makers are utilizing mass customization abilities to address the shifting consumer needs.
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Demand for Industry Robots to Make Asia Pacific a Leading Region
The robotics and automation actuators market has been developing at a huge rate, and this pattern is relied upon to grow in the span of forthcoming years. But, requirement of affordable and advanced robotics and automation actuators, and expanding demand for modern robots and procedure automation in various industry verticals are among the many factors affecting the development of the robotics and automation actuators market. Japan and China are essentially putting resources into robotics and automation to upgrade and pick up a strategic edge. This is an amazing chance for robotics and automation actuator producers to fortify their organizations in the Asia Pacific.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.