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The robotics market share in the entertainment industry is expected to increase by USD 901.83 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 15.21%.
This robotics market in the entertainment industry research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers robotics market in the entertainment industry segmentations by application (filmmaking, broadcasting, promotional events, and others) and geography (Europe, APAC, North America, Middle East and Africa, and South America). The robotics market in the entertainment industry report also offers information on several market vendors, including ABB Ltd., Fischerwerke GmbH and Co. KG, Hitachi Ltd., Innovation First International Inc., Kirkbi AS, Microsoft Corp., MIDEA Group Co. Ltd., Mo Sys Engineering Ltd., Motorized Precision LLC, Nikon Corp., Ross Video Ltd., Shotoku Ltd., Staubli International AG, and Toyota Industries Corp. among others.
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The integration of robotic software with animation software is notably driving the robotics market growth in the entertainment industry, although factors such as the high cost of robotics solutions may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the robotics industry in the entertainment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Robotics Market Driver in the Entertainment Industry
The integration of robotic software with animation software is one of the key drivers supporting the robotics market growth in the entertainment industry. Vendors have developed proprietary software that enables the robots to move as required in collaboration with animation software. For instance, Robot Animator, a plug-in for Autodesk Maya, which is animation software, provides animation-based programming for KUKA robots. It supports the formation of a number of frames in compatibility with 3D projection mapping, camera systems, and computer graphics. Renowned visual artist and musician Nigel Stanford has used Robot Animator to teach music-making to KUKA robots. Thus, the integration of robotic software with animation software is anticipated to drive market growth during the forecast period.
Key Robotics Market Trend in the Entertainment Industry
The growing use of robotic cameras in sports coverage is one of the key robotics market trends in the entertainment industry that is contributing to the market growth. The number of people interested in watching sports is gradually increasing globally, especially in developing countries. Increasing funding from non-profit and profitable entities, growing viewers in rural places, increasing awareness among people about different sports, and increasing participation of people have encouraged sports channel broadcasters to include a wider range of sports. Therefore, these broadcasters are also looking for ways to cover more events while ensuring high quality at lower costs and efforts. This has led to the inclusion of robotics. Such increasing inclusions will propel the robotics market growth in the entertainment industry during the forecast period.
Key Robotics Market Challenge in the Entertainment Industry
The high cost of robotics solutions is one of the factors hindering the robotics market growth in the entertainment industry. The robotics used in the entertainment industry cost approximately 3-4 times more than industrial robotic machining centers. Thus, many end-users do not prefer to make such a huge investment in robotic solutions due to the uncertainty with regard to their profitability. Though prototype testing of these robots indicates positive financial gains and reduction in operational costs, these solutions are yet to show their full market potential in real-world applications due to their limited adoption. Moreover, the robotic solutions comprise customized EOAT, software, cameras with high-quality lenses, and others, which are procured from various players in specific markets. This increases the associated costs of robotic solutions and thereby restricts the adoption of robots. These factors will limit the robotics market growth in the entertainment industry during the forecast period.
This robotics market in the entertainment industry analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global robotics market in the entertainment industry as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the robotics market in the entertainment industry during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the robotics market in the entertainment industry encompasses successful business strategies deployed by the key vendors. The robotics market in the entertainment industry is fragmented and the vendors are deploying growth strategies such as technological innovations and the launch of advanced products to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The robotics market in the entertainment industry forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the robotics market in the entertainment industry, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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47% of the market’s growth will originate from Europe during the forecast period. Germany, the UK, and France are the key markets for the robotics market in the entertainment industry in Europe. Market growth in this region will be slower than the growth of the market in other regions.
The EU is providing various incentives, funding, and tax exemptions to local filmmakers. This will provide impetus to the entertainment industry growth and will facilitate the robotics market in the entertainment industry growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
the outbreak of COVID-19 led to the closure of production units in the region. However, in Q3 of 2021, the robotics market in the entertainment industry is expected to grow during the forecast period owing to large-scale vaccination drives carried out in this region.
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The robotics market share growth in the entertainment industry by the filmmaking segment will be significant during the forecast period. With the increasing trend of sci-fi and animation movies, the use of automation and software has improved tremendously in the entertainment industry due to maximizing floor utilization on sets and quick changeovers and enhancing the repeatability and reliability of equipment. Moreover, robots offer an optimum solution in achieving the mentioned capabilities while simultaneously ensuring the safety of people and heavy moving parts, thus contributing to their deployment in the filmmaking segment. Thus, this, in turn, will drive the market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the robotics market size in the entertainment industry and actionable market insights on post COVID-19 impact on each segment.
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Robotics Market Scope in the Entertainment Industry |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 15.21% |
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Market growth 2022-2026 |
$ 901.83 million |
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Market structure |
Fragmented |
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YoY growth (%) |
14.99 |
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Regional analysis |
Europe, APAC, North America, Middle East and Africa, and South America |
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Performing market contribution |
Europe at 47% |
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Key consumer countries |
China, Japan, Germany, UK, and France |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
ABB Ltd., Fischerwerke GmbH and Co. KG, Hitachi Ltd., Innovation First International Inc., Kirkbi AS, Microsoft Corp., MIDEA Group Co. Ltd., Mo Sys Engineering Ltd., Motorized Precision LLC, Nikon Corp., Ross Video Ltd., Shotoku Ltd., Staubli International AG, and Toyota Industries Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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