What is the global market size of Robot Market?

Global Robot Market size was valued at USD 29.81 billion in 2021, and it is expected to reach a value of USD 94.06 billion by 2028, at a CAGR of more than 17.84% over the forecast period (2022- 2028). Read More

Global Robot Market Size, Share, Growth Analysis, By Product(UVC Disinfection Robots [Fully Autonomous, Semi-Autonomous]), By Vertical(Retail, Hospitality) - Industry Forecast 2024-2031

Report ID: SQSG45J2028 | Region: Global | Published Date: April, 2024
Pages: 157 | Tables: 70 | Figures: 73

Global Robot Market News

In April 2021, Panasonic Corporation unveiled a mass-production model of its Walk Training Robot, which is intended to provide safe and effective walk training for elderly people. In addition, the company provides a robot-assisted service to care facilities, hospitals, and other organisations.
In February 2021, Wipro Limited and Yaskawa India Pvt. Ltd., a subsidiary of Yaskawa Electric Corporation, announced their alliance by signing a Memorandum of Understanding (MOU) on a joint commitment to target global automation projects. The collaboration allows the company to supply Yaskawa robots in India and abroad (including an international warranty).
In January 2021, OMRON Corporation has begun selling the i4 series SCARA robot, which automates high-speed, high-precision assembly and transportation while being easy to install.

Global Robot Market Report Snapshots

License Type Top market research company in USA

File Type

$5,300

BUY NOW GET FREE SAMPLE

Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Robot Market size was valued at USD 79.5 billion in 2019 and is poised to grow from USD 89.27 billion in 2023 to USD 253.38 billion by 2031, growing at a CAGR of 12.29% in the forecast period (2024-2031).

With a large number of regional and global players, the Global Robotics market is moderately competitive. Market vendors are concentrating their efforts on increasing their customer base in foreign countries. To capture a large revenue share and expand their global footprint, market participants are focusing on partnerships and the development of new advanced service robots. For instance, in July 2021, ABB acquired the ASTI Mobile Robotics Group in order to develop the next generation of flexible automation using autonomous mobile robots. The acquisition strengthens the company's robotics and machine automation solutions, allowing it to offer a unique automation portfolio and expand into new business categories. 'Yaskawa Electric Corporation', 'Fanuc Corporation', 'Yamaha Motor Co. Ltd', 'ABB Ltd.', 'Fanuc Corporation', 'Kawasaki Heavy Industries, Ltd.', 'Mitsubishi Electric Corporation', 'Universal Robots A/S', 'Nachi-Fujikoshi Corporation', 'Denso Corporation', 'Omron Adept Technologies, Inc.', 'Epson Robots', 'Stäubli International AG', 'Comau S.p.A.', 'Dürr AG', 'Siasun Robot & Automation Co., Ltd.', 'Schunk GmbH & Co. KG', 'Adept Technology, Inc.'

Increased hygienic requirements created a new market for service robots. As a result, many manufacturers are planning to launch new disinfection robots in 2020. Companies that deliver food and other purchases are seeing an increase in demand. Following this growing interest, the global growth of food and medication delivery robots is expected in 2021. This demand would also drive the demand for last-mile delivery robots.

The popular Robotics-as-a-Service (RaaS) business models make it easier for customers to automate with robots. The benefit is that companies do not have to invest in hardware, so they have no fixed capital, no fixed costs, and no need for robot operators. The use of logistics systems in non-manufacturing industries has strongly influenced warehouse solutions for major e-commerce companies. Hospitals that run their logistics with the help of professional service robots have a lot of potential. Approximately 90% of the logistics robots sampled were produced in Europe and North America, with the remaining 10% produced in Asia.

The global robot market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is expected to dominate the global Robot market. Rapid technological progress, the presence of technically advanced consumers, and supportive government policies are major factors contributing to the positive market outlook for robots in North America. The federal government is invested in the future growth of the US robotics industry because it will have a significant impact on the overall US economy and increase global competitiveness. The United States launched the Innovations in Integration of Robotics (NRI-3.0) programme in 2021 as part of the National Robotics Initiative to support robotic research in the region. The programme funds research that promotes robot integration and benefits humanity. Rising R&D investments by major players in order to develop advanced robots will boost regional growth.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

Global Robot Market Size, Share, Growth Analysis, By Product(UVC Disinfection Robots [Fully Autonomous, Semi-Autonomous]), By Vertical(Retail, Hospitality) - Industry Forecast 2024-2031

Global Robot Market News

Global Robot Market Report Snapshots

Want to customize this report?

FAQs

What is the global market size of Robot Market?

Who are the key vendors in the Global Robot Market?

What is the key driver of Global Robot Market?

What is the key market trend for Global Robot Market?

Which region accounted for the largest share in Global Robot Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300