Future Horizons, Europe’s leading semiconductor analyst, today predicted that robots will become mainstream consumer products within the next decade, providing a significant growth opportunity for the electronics sector.
In its 2004 Key Market Driver Report, Future Horizon predicts that the total revenue for the robotics market will rise from $4.4 billion in 2003 to $59.3 billion in 2010. It forecasts that the corresponding electronic component of the market will increase from $398 million in 2003 to nearly $24 billion in 2010 as a result of growth in the market and the increase requirement for computer power.
The report contends that the electronics industry is on the cusp of a robotics wave, a period in which applications are aimed at human labour saving and extending human skills. It states that the market need, technology and economical justification have coincided to create a new electro mechanical robot system, with the prospect of a corresponding new electronics market to follow.
“Despite 50 years of development, the robotic market is still in its early stages with companies still trying to define requirements. But the mechanics, electronics and software required to make a powerful robots with huge consumer appeal for domestic applications. Robotics will fuel a wave of growth in the electronics sector over the coming decade,” said Malcolm Penn, chief executive office, Future Horizons.
Future Horizons claims that the heavy industrial and professional intelligent service robots currently dominate the robotics market by unit volume, each accounting for 100,000 units annually, with domestic appliance and domestic intelligent service robots yet to make significant inroads.
But the report states that the emphasis will reverse by 2005 as domestic robotics start to dominate the market. The delivery in 2003 of the Sony AIBO robot and several robot lawn mowers and robot vacuum cleaners provides an early indication of likely growth.
Future Horizons predicts that by 2010 the $59.3 billion worldwide robotic market will equate to 55.5 million units made up of domestic robots accounting for 39 million units; domestic intelligent service robots accounting for 10.5 million units; professional intelligent service robots accounting for 5.8 million units; and accounting for heavy industrial robots 200,000 units.
The Key Market Driver Report 2004, an annual analysis and forecast of the worldwide semiconductor key application markets is available from Future Horizons priced £1,150.
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About Future Horizons
Future Horizons, founded in 1989, is Europe’s leading semiconductor analyst. It provides market research and business support services for use in opportunity analysis, business planning and new market development. Its industry information seminars and Forums are widely considered to be the best of their kind. Future Horizons publishes a series of monthly, half-yearly and annual market reports, with emphasis is placed on the worldwide microelectronics and electronics industry and the European market environment. See www.futurehorizons.com for further information.
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