Press release
Robotics Market Size, Share, Growth Statistics, Latest Trends, and Forecast 2031
A comprehensive market research report has recently analyzed the worldwide "Robotics Market" industry, employing segmentation based on Geographical Regions, Country, Company, Types, and Applications. Within the Beauty and Personal Care Packaging sector, numerous prominent Key Players[KUKA, ABB Ltd., Boston Dynamics, iRobot Corporation, Universal Robots, Yaskawa Electric Corporation, FANUC, Omron Adept Technology, Inc., Stubli, EPSON Robots, Intuitive Surgical, Inc., Comau, Rethink Robotics, Rockwell Automation, Inc., Stryker Corporation, Nachi Robotic Systems Inc., Staubli International AG, Panasonic Corporation, Kawasaki Heavy Industries Ltd], have emerged as leaders by implementing diverse strategies aimed at extending their market presence and strengthening their industry position. This report furnishes valuable insights to stakeholders and participants operating in the global market, equipping them with a competitive edge and offering a robust resource to fulfill their business needs effectively.
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Governmental organizations are boosting their maintenance budgets for system infrastructure while simultaneously funding initiatives for project development, modernization, and enhancement. As a result of the investments' success, ICT vendors now annually set aside funding for the growth of the online market.Global ICT exports are anticipated to increase 3.9% on average year fromUS$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. Global supply has increased by 9.5% yearly since 2009. In terms of global ICT exports in 2021, Ireland came in first place with US$ 169. 32 billion. The rankings placed China at number 4, the United States at number 2, and India at number 3. Since 2009, Brunei has increased by228.2%year over year, while Sierra Leone has decreased by 61.7% year over year.
By 2026, European ICT Revenue is likely to increase by 1.5% annually, from US$ 1,802,413 Million in 2021 to US$ 1,933,429 Million.The European market has increased by 3.1% annually since 2016. In terms of ICT Revenue in Europe in 2021,Germany came in first place with US$ 339,074 million.Positions 2, 3, and 4 in this ranking were held by the United Kingdom, France, and Ireland, respectively. Since 2016, Malta has increased by16.5% year over year, while Italy ha s decreased by 0.2%.
Robotics Market Exhibiting a Magnificent Growth Trend: Forecast to Grow at over 20% CAGR until 2030
The global robotics market is growing at a staggering CAGR due to increasing investments by industries into automation of operations and adoption of advanced technologies. Additionally, the rising adoption of robotics in various sectors, such as agriculture, medical and healthcare, logistics, etc., is also driving the market
A recent study conducted by the strategic consulting and market research firmReport Ocean revealed that the global robotics market was worth USD 31.2 billion in the year 2021. The market is forecast to grow at a CAGR of 23.40%, with revenues projected to reach USD 135.8 billion by the end of 2028. The strong growth of the robotics market can be attributed to the increasing investments by industries into automation of operations and the adoption of advanced technologies, including artificial intelligence (AI), and IoT, along with robots. Robotics is also gaining significant traction in other unexplored territories such as agriculture, medical and healthcare, logistics, etc., which is significantly driving the growth of the market. However, the high initial investment involved in robotics setup may act as a huge restraining factor for the global robotics market.
Increasing Safety Regulations the Global Robotics Market Forward
The stringent government regulations regarding the safety of workers are prompting businesses to invest and shift towards robots and automation. These regulations from different countries are laid down to ensure a hazard-free workplace for the workers and prevent them from injury and occupational disease. Many robotics applications involve actions that are deemed dangerous to humans, such as detecting and defusing bombs, exploring mines and shipwrecks, and inspecting radioactive materials. As a result, the robotics market as a whole is growing rapidly.
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Rising Adoption of Advanced Technologies is Driving the Global Robotics Market Growth
The industrial and service sectors are heavily investing in the adoption of advanced technologies such as artificial intelligence (AI), the Internet of Things (IoT), machine learning, etc. This significantly boosts the growth of the robotics market. Machine learning and Artificial Intelligence assist robots to examine and inspect their surroundings and conduct their movements based on the requirements, which boosts operations and helps the industries to automate their entire workflow.
Robotics Market - By End-User
Based on end-users, the global robotics market is segmented into automotive, food and beverage, electronics, logistics, military & defense, medical & healthcare, and others. The automotive industry dominates the robotics market as they have been in use in this sector since the 1960s. The use of robots in the automotive industry helps manufacturers control the high cost of manual labor in operations. Additionally, it boosts overall productivity while also maintaining consistency in speed and quality.
Robotics Market - Regional Insights
Geographically, the robotics market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. The Asia-Pacific region is projected to witness the highest growth rate during the forecast period. However, Europe is also growing at a substantial rate, followed by North America. The increasing investment in the adoption of automation and smart technologies in the industrial sector in developed nations is acting as a major factor driving the growth of the robotics market. Furthermore, the presence of leading automobile manufacturers in these regions is also propelling the demand for robotics, further proliferating the overall market growth.
Impact of COVID-19 on the Global Robotics Market
The robotics market was initially negatively impacted by the unprecedented COVID-19 pandemic outbreak. The restrictions on the production and distribution of robots, along with hindrance in the operations in the industrial sector directly affected the demand for robotics. However, the market is projected to receive lucrative growth opportunities during the forecast period. The adoption of robots in manufacturing and other operations will prevent the human transmission of viruses, further preventing the chances of operation restrictions in such situations.
Global Robotics Market - Competitive Landscape
The leading market players in the global robotics market are KUKA, ABB Ltd., Boston Dynamics, iRobot Corporation, Universal Robots, Yaskawa Electric Corporation, FANUC, Omron Adept Technology, Inc., Stubli, EPSON Robots, Intuitive Surgical, Inc., Comau, Rethink Robotics, Rockwell Automation, Inc., Stryker Corporation, Nachi Robotic Systems Inc., Staubli International AG, Panasonic Corporation, Kawasaki Heavy Industries Ltd, and other prominent players.
The robotics market is extremely competitive due to the presence of several regional and multinational industry participants. The companies significantly invest in R&D activities to develop and innovate their offerings to suit the requirements of various industry verticals. They also constantly focus on expanding their product portfolio to boost their market revenue. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.
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Market Segment-
By Type (Industrial, Service)
By End-User (Automotive, Food, And Beverage, Electronics, Logistics, Military And Defense, Medical And Healthcare, Others)
By Region (North America, Europe, Asia-Pacific (Apac), Latin America (Latam), Middle-East & Africa (Mea)
Table of Content:
Report Overview
Global Growth Trends
Competition Landscape by Key Players
Data Segments
North America Market Analysis
Europe Market Analysis
Asia-Pacific Market Analysis
Latin America Market Analysis
Middle East & Africa Market Analysis
Key Players Profiles Market Analysis
Analysts Viewpoints/Conclusions
Appendix
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