Robotics Market Size, Share, Growth Analysis, By Application(Industrial, and Services), By End-user(Manufacturing, Healthcare) - Industry Forecast 2024-2031

Global Robotics Market size was valued at USD 36.09 billion in 2022 and is poised to grow from USD 41.50 billion in 2023 to USD 126.96 billion by 2031, growing at a CAGR of 15.00% during the forecast period (2024-2031).

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.