Global Robotics Market was US$ 40.43 Billion in 2022
Global Robotics Market will reach US$ 231.85 Billion by 2030, as per the report. Robotics involves creating devices capable of performing physical tasks, either fully or partially autonomously, often tackling repetitive or hazardous duties unfit for humans. The field of robotics has advanced significantly thanks to numerous recent developments in general technology. Utilizing big data for improved robotic programming and monitoring environmental variables with cutting-edge sensors and networked devices that cover temperature, air pressure, light, motion, and more are factors. The development of more sophisticated robots for uses, including manufacturing, health and safety, and human assistance, will benefit from everything mentioned.
Global Robotics Market will grow at a CAGR of 24.40% between 2022 and 2030
Robotics Market growth in concern, the expansion of energy-efficient drive systems, and high competition among industrial branches for switching towards advanced technology and automation are propelling market growth. Due to the increased demand, there has also been significant investment in the robotics sector. According to the International Federation of Robotics World Robotics Report, investments in new auto manufacturing facilities and the modernization of industrial facilities had increased demand for robots.
Digitization and the industry 4.0 revolution have propelled the growth of automation among sectors by making them use more innovative and automated solutions, such as robotics and control systems, to better their production processes. Several key elements of Industry 4.0 apply to robotics, such as connectivity and data. Recently, Siemens collaborated with Google Cloud intending to amalgamate Google Cloud data cloud and artificial intelligence/machine learning mechanism with its factory automation solutions. Global Robotics Market was valued at US$ 40.43 Billion in 2022.
Industrial robotics is most frequently used in the automotive industry
Industrial robotics are being used in many different industries as they gain popularity, such as the automotive industry, electrical and electronics industry, metal and machinery industry, plastic and chemical products, food industry, and others. The implementation of automation solutions and the introduction of various production control techniques are important elements of current production improvement plans. Due to a number of factors, the automotive industry, a significant end-user of industrial robots, significantly drives growth in the industrial robotics market and volume. Notably, the growing popularity of electric vehicles (EVs) is a major driver of robot adoption because EV production requires special robotic capabilities for welding, painting, and assembly. Automobile manufacturers are embracing robots to save money by automating tasks as a result of rising labour costs around the world. Industrial robots also improve safety by reducing mishaps through planned and sensor-equipped operations, which increases their appeal in the automotive industry.
Medical Service Robotics is gaining popularity in the global robotics market
The global robotics market is anticipated to grow as a result of the rising use of service robots in important end-use industries like transportation and logistics, professional cleaning, medical robotics, hospitality, agriculture, and fields, and others. The medical industry is using robots to help with minimally invasive treatments, personalized and routine monitoring for patients with chronic conditions, intelligent therapies, and social interaction for the elderly, which increases their market and volume share. The number of surgical procedures aided by medical robots is rising, which accelerates the market rate of product innovation.
The National Institute for Occupational Safety and Health (NIOSH) also claims that healthcare workers have the most dangerous industrial jobs in the country and suffer from the highest number of nonfatal occupational illnesses and injuries. Approximately 6,000 surgical robots are thought to perform a million operations worldwide. Reputable institutions like MIT and the University of Michigan are developing the technology to supply tiny, portable robots to the medical industry.
United States is expected to remain dominant in the robotics market in North America for the foreseeable future
North American countries of the United States, Canada, Mexico, and Others make up the majority of the global robotics market. United States acclaim in the robotics industry can be credited to its long history of innovation and significant market size. Furthermore, the existence of leading robotics behemoths such as ABB, Fanuc, and KUKA, along with significant financial investments in R&D, fosters innovation within the sector. Moreover, the State offers tax breaks and other incentives to companies that invest in robotics.
Businesses in Germany are the use of robotics to cut charges due to rising labor prices
Europe, which incorporates international locations like France, Germany, Italy, Spain, and others, makes up a considerable part of the global robotics market. Robots are top notch at automating labour-intensive responsibilities together with welding, portray, and assembling automobile components, which leads to vast financial savings. This improvement is recommended by means of German authorities thru packages just like the Robotics Innovation Center and the Robotics Competence Network, together with tax breaks, and research funding. The establishments just like the Technical University of Munich and the University of Stuttgart who represent the instructional research community, helps the development of modern robotics era.
Asia-Pacific location of the worldwide robotics market is expected to be dominated through China
The Republic of Korea, Thailand, China, India, Japan, and other nations are included in the categories for Asia and Australia on the global robotics market. China reputation within the robotics enterprise advantages from a skilled exertions pressure, particularly in STEM (Science, Technology, Engineering, and Mathematics) fields. China thriving manufacturing quarter, actively embraces robotics to reinforce productivity, as evidenced by means of the automobile enterprise investments in environmentally pleasant vehicles. Through economic aid and incentive applications just like the National Robotics R&D Program and the Robotics Industry Development Plan, the Chinese authorities significantly help robotics. These programs sell innovation, improvement, and expert cooperation, helping the growing robotics industry in the Country.
Key Players
KUKA, iRobot, Intuitive Surgical, Panasonic, Fanuc, ABB Ltd., and Stryker Corporation are some of the organizations that represent the global robotics market.
In October 2022, ABB unveiled its smallest industrial robot ever, establishing up novel possibilities for the fast, flexible, and great manufacture of wearable wise gadgets. With its small size, magnificence-main payload, and unmatched accuracy, the brand new IRB 1010 offers electronics producers the threat to automate the manufacturing of a much broader variety of products, including high-tech watches, earphones, sensors, and health trackers.
This latest report “Global Robotics Market, Industrial Robotics Market & Volume (Automotive industry and forecast, Electrical and Electronics industry and forecast, Metal and Machinery industry and forecast, Plastic and Chemical products, Food industry and forecast, and Others), Service Robotics Market & Volume (Transportation & Logistics, Professional Cleaning, Medical Robotics, Hospitality, and Agriculture & Field), Region (Americas (United States, Canada, Mexico, and Others), Europe (France, Germany, Italy, Spain, and Others), Asia-Pacific (China, India, Japan, Republic of Korea, Thailand, and Others), and Rest of the World), Companies (KUKA, iRobot, Intuitive Surgical, Panasonic, Fanuc, ABB Ltd., and Stryker Corporation)” provides a detailed analysis of Global Robotics Industry.
Industrial Robotics Market & Volume - Global Robotics Market has been covered from six viewpoints.
1. Automotive Industry and Forecast
2. Electrical and Electronics Industry and Forecast
3. Metal and Machinery Industry and Forecast
4. Plastic and Chemical Products
5. Food Industry and Forecast
6. Others
Service Robotics Market & Volume - Global Robotics Market has been covered from five viewpoints.
1. Transportation & Logistics
2. Professional Cleaning
3. Medical Robotics
4. Hospitality
5. Agriculture & Field
Countries - Global Robotics Market has been covered from four viewpoints:
1. America
1.1 United States
1.2 Canada
1.3 Mexico
1.4 Others
2 Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 Others
3. Asia-Pacific
3.1 China
3.2 India
3.3 Japan
3.4 Republic of Korea
3.5 Thailand
3.6 Others
4. Rest of the World
Company Insights:
- Overview
- Recent Developments
- Sales Analysis
Company Analysis:
1. KUKA
2. iRobot Corporation
3. Intuitive Surgical, Inc.
4. Panasonic Corporation
5. Fanuc
6. ABB Ltd.
7. Stryker Corporation
Table of Contents
Companies Mentioned
- KUKA
- iRobot Corporation
- Intuitive Surgical, Inc.
- Panasonic Corporation
- Fanuc
- ABB Ltd.
- Stryker Corporation
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 300 |
| Published | August 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 40.43 Billion |
| Forecasted Market Value ( USD | $ 231.85 Billion |
| Compound Annual Growth Rate | 24.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 7 |
