Robotics Technology Market

Global Robotics Technology Market:

The global robotics technology market size reached US$ 98.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 228.7 Billion by 2032, exhibiting a growth rate (CAGR) of 9.51% during 2024-2032. The rising investments and government support to boost robotics research and development are stimulating the market.

Robotics Technology Market Analysis:

• Major Market Drivers: Advancements in artificial intelligence and machine learning that enable robots to learn from data and adapt to changing environments are propelling the market.
• Key Market Trends: The increasing reliability of robots to manage inventory, pick and pack things, and handle deliveries in the e-commerce, warehousing, and logistics industries is a significant growth-inducing factor.
• Competitive Landscape: Some of the major market companies include ABB Ltd., DENSO Corporation, FANUC Corporation, Kawasaki Heavy Industries Ltd., KUKA AG (Midea Group), Mitsubishi Electric Corporation, OMRON Corporation, Seiko Epson Corporation, Stäubli International AG, and Yaskawa Electric Corporation, among many others.
• Geographical Trends: The extensive need for automating and improving production efficiency, owing to strong manufacturing bases, is augmenting the market in Asia-Pacific.
• Challenges and Opportunities: The high initial costs and complexity of integration of automation technology are hampering the market. However, developing more cost-effective systems and providing better training and support for businesses to use robotics solutions efficiently will continue to catalyze the market over the forecast period.
   

Robotics Technology Market Trends:

Adoption of Collaborative Robots

Cobots’ safety features and capacity to execute jobs in close proximity to humans without requiring extensive safety precautions make them appealing to small and medium-sized businesses. This is escalating the market. In September 2024, Kawasaki Robotics launched the new CL Series of intelligent collaborative robots (cobots) at IMTS to support a variety of payloads and reach from 3 kg/590 mm to 10 kg/1000 mm.

Elevating Uses of Robotics in Healthcare

The usage of robots in healthcare, particularly for surgery, rehabilitation, and patient support, is growing rapidly. They are used in hospitals to clean rooms and transport supplies. In July 2024, LG Business Solutions USA launched the LDLIM31 autonomous robot, a door-type, AI-powered model for its CLOIi ServeBot product line to provide delivery services in hospitality and healthcare environments. As per the robotics technology market analysis report, this is fueling the market.

Widespread Popularity of AI-Driven Robotics

The incorporation of artificial intelligence into robotics allows for greater autonomous decision-making and advanced problem-solving skills. AI-powered robots can study data and improve their performance over time. In September 2024, Pudu Robotics, a global leader in the service robotics sector, announced the launch of the PUDU MT1, an AI-powered robotic sweeper designed for large-scale environments.

Global Robotics Technology Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with the robotics technology market forecast at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on component, robot type, and application.

Breakup by Component:

• Hardware
• Software
• Services
   

Among these, hardware currently holds the largest robotics technology market share

The report has provided a detailed breakup and analysis of the market based on the component. This includes hardware, software, and services. According to the report, hardware represented the largest market segmentation.

Key components, such as sensors, actuators, power supplies, and control systems, drive the hardware segment. For instance, improved sensors and actuators are critical in industrial robotics for achieving precision and efficiency on assembly lines. Companies, such as FANUC and ABB, are market leaders in robotic hardware for industries such as automotive and electronics. This is elevating the robotics technology market outlook.

Breakup by Robot Type:

• Traditional Industrial Robots
• Cobots
• Professional Service Robots
• Others
   

Currently, traditional industrial robots hold the largest robotics technology market demand

The report has provided a detailed breakup and analysis of the market based on the robot type. This includes traditional industrial robots, cobots, professional service robots, and others. According to the report, traditional industrial robots represented the largest market segmentation.

As per the robotics technology market outlook report, traditional industrial robots have considerable market dominance, particularly in sectors, such as automotive and electronics manufacturing. These robots, including articulated robots, SCARA robots, and Cartesian robots, are commonly employed for welding, assembling, and material handling. Companies, such as KUKA and Yaskawa, are well-known for their classic industrial robots, which improve manufacturing efficiency and precision.

Breakup by Application:

• Manufacturing
• Healthcare
• Aerospace and Defence
• Media and Entertainment
• Logistics
• Others
   

The report has provided a detailed breakup and analysis of the market based on the application. This includes manufacturing, healthcare, aerospace and defence, media and entertainment, logistics, and others.

In manufacturing, robots, such as FANUC's industrial arms, automate assembly lines and boost efficiency in automotive and electronics production. In healthcare, surgical robots, such as Intuitive Surgical's da Vinci system, are quickly being adopted to improve precision and recovery periods during minimally invasive treatments. In aerospace and military, robots are utilized for aircraft maintenance and inspection, as demonstrated by GE Aviation's robotic systems that tackle delicate operations. Furthermore, in media and entertainment, robots are used for camera work and special effects, boosting film and live event production capabilities. Logistics primarily relies on autonomous mobile robots (AMRs), such as those from KION Group, to streamline warehouse management and order fulfilment.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia-Pacific currently dominates the market

The robotics technology market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia-Pacific accounted for the largest market penetration. 

As per the robotics technology market segmentation, Asia-Pacific exhibits a clear dominance in the market driven by the region's strong manufacturing base and increasing automation requirements. Furthermore, government initiatives, such as the "Intelligent Robot Industry Development Strategy," continue to push the robotics sector forward.

Competitive Landscape:

The robotics technology market forecast report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major market robotics technology companies have also been provided. Some of the key players in the market include:

• ABB Ltd.
• DENSO Corporation
• FANUC Corporation
• Kawasaki Heavy Industries Ltd.
• KUKA AG (Midea Group)
• Mitsubishi Electric Corporation
• OMRON Corporation
• Seiko Epson Corporation
• Stäubli International AG
• Yaskawa Electric Corporation
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Robotics Technology Market Recent Developments:

• September 2024: Kawasaki Robotics launched the new CL Series of intelligent collaborative robots (cobots) at IMTS to support a variety of payloads and reach from 3 kg/590 mm to 10 kg/1000 mm, with higher payloads such as 15kg expected to hit the market within the next year.
• September 2024: Pudu Robotics, a global leader in the service robotics sector, announced the introduction of the PUDU MT1, an AI-powered robotic sweeper designed for large-scale environments.
• July 2024: LG Business Solutions USA launched the LDLIM31 autonomous robot, a door-type, AI-powered model for its CLOIi ServeBot product line to provide delivery services in hospitality and healthcare environments.

Robotics Technology Market Report Scope:

Key Benefits for Stakeholders:

• IMARC's industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the robotics technology market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global robotics technology market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the robotics technology industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.