Global Robotics Market Report and Forecast 2024-2032

Global Robotics Market Outlook

The global robotics market size is aided by the growth of the global industrial robotics market, which attained USD 28.31 billion in 2023. The global industrial robotics market is expected to grow at a CAGR of 11% in the forecast period of 2024-2032 to reach USD 72.41 billion by 2032.

Robotics refers to a branch of technology which is associated with the design, operation, construction, and application of robots in various fields. The field overlaps with electronics, computer science, artificial intelligence, mechatronics, nanotechnology, and bioengineering.

One of the earliest recorded designs for a humanoid robot was made by Leonardo da Vinci. Around 1495, he sketched plans for a mechanical knight, a human-like machine capable of sitting up, waving its arms, and moving its head and jaw.

AI is often integrated into robotics to enhance the autonomy and decision-making capabilities of robots, which include machine learning, computer vision, and natural language processing. The future of robotics promises even more integration with AI increased collaboration between humans and robots (cobots), advancements in soft robotics, and broader application in various fields, including autonomous vehicles and smart homes.

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Robotics Market Segmentation

On the basis of type, the market is divided into:

• Industrial Robotics

• Service Robotics

The industrial robotics is further divided on the basis of types into articulated robots, SCARA robots, cartesian robots, and cylindrical robots, among others, whereas service robotics is further divided into personal and domestic robots, and professional robots, among others.

The demand for industrial robotics has been increasing steadily, driven by several key factors. One of the primary drivers of industrial robotics is the growing need for automation in manufacturing. Robots can perform repetitive, precise tasks more efficiently and consistently than human workers, leading to increased productivity, higher-quality products, and reduced manufacturing time.

In many developed countries, industries face labour shortages, especially in tasks that are dangerous, dull, or dirty. Robots help mitigate these labour shortages. Additionally, although the initial investment in robotics can be high, they can reduce long-term labour costs, contributing to cost savings for companies.

Advancements in technology, such as improved sensors, machine learning, and artificial intelligence, have made industrial robots more capable, flexible, and easy to integrate with other digital systems. This increases their utility and application in various industrial processes.

By application, the market is segmented into:

• Household

• Entertainment

• Military and Defence

• Field and Logistics

• Healthcare

• Infrastructure

• Mobile Platform

• Others

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The robotics market growth in the military and defence sector is substantial and continuously growing, driven by several key factors. Robotics plays a crucial role in performing tasks that are dangerous for human personnel, such as bomb disposal, reconnaissance in hostile territories, and surveillance of high-risk areas. By using robots, the risk to human soldiers is significantly reduced.

Continuous advancements in technology, such as improved sensors, AI, and autonomous systems, have increased the capabilities of military robots, making them more efficient and versatile. These advancements allow for more complex and sensitive operations to be carried out by robots.

Robots can operate in environments and conditions where humans might struggle, such as extreme weather, hazardous materials, and challenging terrains. This capability enhances the operational efficiency of military missions. Furthermore, the use of unmanned aerial vehicles (UAVs or drones), unmanned ground vehicles (UGVs), and unmanned maritime vehicles (UMVs) in surveillance, reconnaissance, and targeted operations has become a significant aspect of modern warfare and defence strategies.

The report also covers the major regional markets for robotics, which are as follows:

• North America

• Europe

• Asia Pacific 

• Latin America

• Middle East and Africa

Robotics Market Analysis

The market is driven by continuous advancements in technology, including AI, machine learning, sensor technology, and computer vision. These innovations are some of the crucial robotics market trends that enhance the capabilities of robots, making them more autonomous, efficient, and adaptable.

The increasing need for efficiency, precision, and cost reduction in various industries is driving the demand for robotic automation. The push for automation is particularly strong in manufacturing, logistics, and healthcare. The Asia Pacific region, particularly countries like China, Japan, and South Korea, is leading in terms of robotics adoption, largely due to the strong manufacturing sector. North America and Europe also have significant markets, driven by advanced technology adoption and research and development.

Ongoing technological transformations to aid the market growth

The robotics market demand is expected to be supported by the major transformation of robots and their use as surgical assistants, personal assistants, autonomous vehicles, exoskeletons, delivery vehicles, and crewless aerial vehicles, among many other uses. The technological transformations associated with interaction, cognition, and manipulation, have led to the growing attraction of robots across the globe. Technology and various component providers are upgrading their existing systems, enhancing the robotics market value.

Further, after the COVID-19 outbreak, technology is seen as a significant medium which helps contain the spread of this virus and is currently helping deal with the existing cases. Many hospitals across the globe have adopted robotics to aid both the healthcare staff and patients. All these factors are expected to positively influence the market growth of robotics over the forecast period.

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Regional Insights

Significant contribution from the Asia Pacific region to aid the market growth

The Asia Pacific region occupies a significant robotics market share. The region is expected to witness the highest growth rate over the forecast period. Within Asia Pacific, China is expected to lead the market growth as the country is adopting robotics as a result of the country’s developing electronic and automotive manufacturing sectors.

Further, as these sectors are growing at a rapid speed in other countries like India, there is a large potential for market growth. Moreover, the market growth is invigorated by the ageing population in countries within the Asia Pacific region, like China and Japan, consequently aiding the medical technology sector, and helping generate a huge market for service robots in the region.

Many governments in the Asia Pacific region have initiated policies and investments to promote the development and adoption of robotics. For example, China's "Made in China 2025" plan includes a significant focus on robotic technology. Similarly, Japan and South Korea have substantial government-backed initiatives to advance their robotics sectors.

In several Asia Pacific countries, labour costs have been rising, and there is a growing concern about an ageing workforce. Robotics offers a solution to these challenges by automating tasks and compensating for labour shortages, especially in countries like Japan. The logistics and supply chain sector in the region is also rapidly adopting robotics to increase efficiency and accuracy in warehouses and distribution centres, driven by the e-commerce boom.

Key Players in the Market

The report gives a detailed analysis of the following key players in the global robotics market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• FANUC Corporation

• ABB Ltd

• Denso Corporation

• Toshiba Infrastructure Systems & Solutions Corporation

• Mitsubishi Electric Corporation

• Yaskawa Electric Corporation

• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

Robotics Market Report Snapshots

Robotics Market Size

Robotics Market Analysis

Robotics Market Regional Analysis

Robotics Companies