Product ID: SQSG45J2028
Report ID:
SQSG45J2028 |
Region:
Global |
Published Date: April, 2024
Pages:
157
|
Tables:
70 |
Figures:
73
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).
Robot manufacturers are seeing a surge in robot market demand as more businesses implement industry 4.0 technologies and automation in their production lines. Technology providers are collaborating with market players to provide enterprise-grade automation solutions such as navigation, mapping, risk, and obstacle avoidance to robot manufacturers. The introduction of robotics technologies is expected to revolutionise last-mile delivery systems and open up new market opportunities for both existing and new delivery and service market leaders. Following COVID-19, several hotels, airports, and educational and research institutions are deploying delivery or service robots to deliver food and beverages to their customers and students. During the forecast timeframe, the rising adoption of delivery robots to promote more socially distant models of operation will propel industry growth.
Due to significant increases in investment in industrial robots around the world, the automotive industry is regarded as one of the most critical applications of industrial robots. For example, in 2019, BMW AG signed an agreement with KUKA to supply approximately 5,000 robots for use in new production lines and factories around the world. KUKA also stated that these industrial robots would be used to manufacture current and future vehicle models at the BMW Group's international production sites around the world.
US Robot Market is poised to grow at a sustainable CAGR for the next forecast year.
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATIONRobot 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).
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Product ID: SQSG45J2028