Global Robotics Market

Global Robotics Market Size, Share, Growth Analysis, By Application(Industrial, and Services), By End-user(Manufacturing, Healthcare) - Industry Forecast 2023-2030


Report ID: SQMIG20D2157 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 64 | Figures: 75

Global Robotics Market Insights

Global Robotics Market size was valued at USD 31.38 Billion in 2021 and is poised to grow from USD 36.09 Billion in 2022 to USD 110.39 Billion by 2030, at a CAGR of 15% during the forecast period (2023-2030).

The global robotics market is experiencing significant growth due to advancements in technology, increased demand for automation, and cost savings in the long run. Robotics has become an integral part of various industries, including manufacturing, healthcare, and automotive, among others. The purpose of this market analysis is to provide insights into the current state and future trends of the robotics market. The driving factor for the growth of the global robotics market is the increasing demand for automation and the need to improve efficiency, productivity, and quality. Additionally, the rise in labor costs and the need for cost savings in the long run has also led to the increased adoption of robotics. The major restraining factor for the global robotics market is the high cost of initial investments, which can be a significant barrier for small and medium-sized enterprises. Additionally, there is a lack of skilled workforce and the need for specialized training to operate and maintain the robots, which can be a challenge for companies. The robotics market presents various opportunities for growth and expansion. The increasing demand for automation in emerging economies, such as China and India, presents a significant opportunity for the market. The healthcare industry, in particular, presents a huge opportunity for growth due to the aging population and the need for specialized care.

Market snapshot - 2023-2030

Global Market Size

USD 31.38 Billion

Largest Segment

Industrial

Fastest Growth

Industrial

Growth Rate

15% CAGR

Global Robotics Market 2022-2030 ($ Bn)
Country Share for Asia Pacific Region- 2022 (%)
Global Robotics Market Size By Application, 2022-2030 ($ Bn)
Global Robotics Market Size By Application, 2022-2030 (%)

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Global Robotics Market Segmental Analysis

The global robotics market is segmented on the basis of application, end-user, and region. In terms of application, the market is segmented into industrial, and services. Based on categorization by end-user, the market is segmented into manufacturing, healthcare, aerospace and defense, media and entertainment, and others. Regionwise, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Global Robotics Market Analysis by Application

The industrial sector is expected to be a significant contributor to the growth of the industrial robot’s market, owing to its usage in various industrial applications such as welding, cutting, grinding, painting, and material handling. Manufacturers across different industries are expected to adopt intelligent manufacturing technologies like robotics, automation, AI, and cloud computing in the coming years, to enhance production efficiency, competitiveness, and operational excellence. As a highly competitive environment puts pressure on firms to cut costs and lead times while improving safety and production throughput, robotics is becoming a more attractive solution. The automotive, metals and engineering, and electrical and electronics sectors are likely to experience substantial growth in the coming years due to significant investments in production capacity and the adoption of lightweight materials and energy efficiency technologies, made possible by industrial robots. The increasing use of robots in key end-use industries such as automotive, metals and mining, food and beverages, etc., is expected to boost the demand for industrial robots and drive market growth during the forecast period.

Global Robotics Market Analysis by End-user

In modern manufacturing operations, robots are widely used for repetitive tasks to optimize the entire assembly process. Typically, industrial robots are deployed for material handling, machining, assembly, and inspection tasks. Material handling applications include tasks like loading and unloading machines, and transferring workpieces or materials from one area to another. In machining operations, robots operate tools to perform processes on workpieces, such as spot welding, continuous arc welding, and spray painting. Spot welding of automobile bodies is a popular application of industrial robots in the United States. Assembly and inspection tasks are also ideal for robots, particularly in sectors where manual labor is expensive. Consequently, the use of robots for assembly is expected to increase during the forecast period. The robotics market has grown steadily as more players invest in these systems to improve manufacturing processes, including those related to transportation, assembly line operations, and warehouse management. The manufacturing industry is increasingly adopting robots due to their small turning radius, which facilitates internal conveying processes. more manufacturers are adopting Industry 4.0 and leveraging advanced technologies as part of their digital transformation efforts.

Global Robotics Market Size By Application, 2022(%), 2021 (%)

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Global Robotics Market Regional Insights

Asia Pacific dominates the global robotics market due to the region's high demand for industrial and service robots. In recent years, countries like China, Japan, and South Korea have invested heavily in the robotics industry, which has driven the growth of the market in the region. China, in particular, has become the world's largest market for industrial robots, with a rapidly growing domestic robotics industry.

The fastest-growing region in the robotics market is expected to be the Middle East and Africa. The growth is attributed to the increasing adoption of automation technologies in the region, particularly in manufacturing and logistics sectors. Additionally, the rising adoption of robots for various applications, such as healthcare and agriculture, is also driving the growth of the robotics market in the region.

Global Robotics Market Size By Geography, 2022-2030, 2023-2030
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Global Robotics Market Dynamics

Global Robotics Market Drivers

Increasing Demand for Automation

  • The increasing demand for automation across industries is one of the major drivers of the robotics market. The use of robots in manufacturing, healthcare, and logistics industries has improved the overall efficiency and productivity of the processes. With the growing need for fast and accurate processes, the demand for automation is expected to increase further in the future, driving the growth of the robotics market.

Advancements in AI and Machine Learning Technologies

  • The advancements in AI and machine learning technologies have opened up new opportunities for the robotics market. The integration of these technologies with robots has enabled them to perform complex tasks with high accuracy and efficiency. The development of collaborative robots or cobots has also led to the deployment of robots in a wider range of applications.

Global Robotics Market Restraints

High Initial Investments

  • The high initial investments required for the deployment of robots is a major restraint for the growth of the robotics market. The cost of robots, sensors, and other equipment required for the deployment of robots can be quite high, which makes it difficult for small and medium-sized enterprises to invest in this technology.

Lack of Skilled Workforce

  • The lack of skilled workforce is another major restraint for the growth of the robotics market. The development and deployment of robots require skilled professionals who can design, program, and maintain these systems. There is a shortage of skilled professionals in this field, which is hampering the growth of the robotics market.

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Global Robotics Market Competitive Landscape

The Global Robotics Market is highly competitive with the presence of several key players. These players compete on the basis of product quality, technology innovation, pricing, and distribution network. These major players have a strong global presence and offer a wide range of robotics solutions for various applications. They also invest heavily in research and development activities to improve their product offerings and stay ahead of the competition. The competitive landscape of the global robotics market is expected to remain intense in the coming years, with players continuing to invest in research and development activities and strategic partnerships to stay ahead of the competition.

Top Player’s Company Profiles in Global Robotics Market

  • Fanuc Corporation (Japan)
  • Yaskawa Electric Corporation (Japan)
  • ABB Ltd. (Switzerland)
  • Kuka AG (Germany)
  • Kawasaki Heavy Industries Ltd. (Japan)
  • Mitsubishi Electric Corporation (Japan)
  • Denso Corporation (Japan)
  • Nachi-Fujikoshi Corp. (Japan)
  • Omron Corporation (Japan)
  • Universal Robots A/S (Denmark)
  • FANUC America Corporation (US)
  • Epson Robotics (Japan)
  • Staubli International AG (Switzerland)
  • YRG Inc. (US)
  • Comau S.p.A. (Italy)
  • Northrop Grumman Corporation (US)
  • Honda Motor Co., Ltd. (Japan)
  • Seiko Epson Corporation (Japan)
  • Yamaha Motor Co., Ltd. (Japan)
  • Adept Technology, Inc. (US)

Global Robotics Market Recent Developments

  • In August 2022, To advance AI and robotics, the Hyundai Motor Group contributed USD 400 million in founding the Boston Dynamics AI Institute in August 2022. The company's mission is to make "fundamental advances in artificial intelligence, robotics, and intelligent machines," and its resources are concentrated in the fields of cognitive AI, athletic AI, and organic hardware design, each of which is advancing the capabilities of highly advanced machines.
  • In August 2022, The Da Vinci Xi Surgical Robot, one of India's most cutting-edge technology, was introduced at Max Super Speciality Hospital, Mohali. The introduction of the ground-breaking Da Vinci Xi Surgical Robot is just another patient-focused move made by healthcare providers to give patients access to high-quality medical care.
  • In July 2022, Premier Tech Systems & Automation Introduced a Make-in India Robotic Palletizer Solution, the RPL SERIES robot palletizers, which are efficient robotic cells for diverse palletizing needs. The palletizer's in-house manufactured gripper satisfies the many palletization requirements of modern packaging installations.

Global Robotics Key Market Trends

  • Collaborative Robotics: Collaborative robots, also known as cobots, are robots designed to work alongside humans, performing tasks that require human interaction. These robots have gained popularity in recent years due to their ability to enhance productivity and safety in the workplace. For example, ABB's YuMi is a collaborative robot used in the electronics industry to perform tasks such as component insertion and packaging.
  • Service Robotics: Service robots are used in various applications, such as healthcare, hospitality, and retail. The increasing demand for service robots in these industries is a significant trend in the market. Intuitive Surgical's da Vinci surgical system is a service robot used in the healthcare industry to perform minimally invasive surgeries.

Global Robotics Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our global robotics market analysis, the increasing adoption of automation and robotics in various industries. The market is expected to continue to grow in the coming years due to advancements in technology and the increasing demand for robotics solutions in various applications. The major drivers of the robotics market are the growing demand for automation in manufacturing and industrial processes. Robots can perform repetitive tasks with high accuracy and consistency, which can help to improve productivity, reduce errors, and increase efficiency in manufacturing operations. The robotics market is the growing demand for robotics solutions in the healthcare sector. Robotics can be used in various healthcare applications, including surgery, rehabilitation, and assistance for elderly and disabled individuals. The robotics market is a dynamic and rapidly evolving industry, with significant potential for growth in the coming years as automation and robotics continue to transform various industries.

Report Metric Details
Market size value in 2021 USD 31.38 Billion
Market size value in 2030 USD 110.39 Billion
Growth Rate 15%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Application
    • Industrial, and Services
  • End-user
    • Manufacturing, Healthcare, Aerospace and defense, Media and entertainment, and Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Fanuc Corporation (Japan)
  • Yaskawa Electric Corporation (Japan)
  • ABB Ltd. (Switzerland)
  • Kuka AG (Germany)
  • Kawasaki Heavy Industries Ltd. (Japan)
  • Mitsubishi Electric Corporation (Japan)
  • Denso Corporation (Japan)
  • Nachi-Fujikoshi Corp. (Japan)
  • Omron Corporation (Japan)
  • Universal Robots A/S (Denmark)
  • FANUC America Corporation (US)
  • Epson Robotics (Japan)
  • Staubli International AG (Switzerland)
  • YRG Inc. (US)
  • Comau S.p.A. (Italy)
  • Northrop Grumman Corporation (US)
  • Honda Motor Co., Ltd. (Japan)
  • Seiko Epson Corporation (Japan)
  • Yamaha Motor Co., Ltd. (Japan)
  • Adept Technology, Inc. (US)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Robotics Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Robotics Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Robotics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Robotics Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Robotics Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Robotics Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

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FAQ's

Global Robotics Market size was valued at USD 31.38 Billion in 2021 and is poised to grow from USD 36.09 Billion in 2022 to USD 110.39 Billion by 2030, at a CAGR of 15% during the forecast period (2023-2030).

The Global Robotics Market is highly competitive with the presence of several key players. These players compete on the basis of product quality, technology innovation, pricing, and distribution network. These major players have a strong global presence and offer a wide range of robotics solutions for various applications. They also invest heavily in research and development activities to improve their product offerings and stay ahead of the competition. The competitive landscape of the global robotics market is expected to remain intense in the coming years, with players continuing to invest in research and development activities and strategic partnerships to stay ahead of the competition. 'Fanuc Corporation (Japan)', 'Yaskawa Electric Corporation (Japan)', 'ABB Ltd. (Switzerland)', 'Kuka AG (Germany)', 'Kawasaki Heavy Industries Ltd. (Japan)', 'Mitsubishi Electric Corporation (Japan)', 'Denso Corporation (Japan)', 'Nachi-Fujikoshi Corp. (Japan)', 'Omron Corporation (Japan)', 'Universal Robots A/S (Denmark)', 'FANUC America Corporation (US)', 'Epson Robotics (Japan)', 'Staubli International AG (Switzerland)', 'YRG Inc. (US)', 'Comau S.p.A. (Italy)', 'Northrop Grumman Corporation (US)', 'Honda Motor Co., Ltd. (Japan)', 'Seiko Epson Corporation (Japan)', 'Yamaha Motor Co., Ltd. (Japan)', 'Adept Technology, Inc. (US)'

The increasing demand for automation across industries is one of the major drivers of the robotics market. The use of robots in manufacturing, healthcare, and logistics industries has improved the overall efficiency and productivity of the processes. With the growing need for fast and accurate processes, the demand for automation is expected to increase further in the future, driving the growth of the robotics market.

Collaborative Robotics: Collaborative robots, also known as cobots, are robots designed to work alongside humans, performing tasks that require human interaction. These robots have gained popularity in recent years due to their ability to enhance productivity and safety in the workplace. For example, ABB's YuMi is a collaborative robot used in the electronics industry to perform tasks such as component insertion and packaging.

Asia Pacific dominates the global robotics market due to the region's high demand for industrial and service robots. In recent years, countries like China, Japan, and South Korea have invested heavily in the robotics industry, which has driven the growth of the market in the region. China, in particular, has become the world's largest market for industrial robots, with a rapidly growing domestic robotics industry.

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