Press release
Robotics Technology Market Rising Trends, Key Leading Players, Trends Analysis, Industry Share And Forecast To 2033
Robotics Technology Market
Robotics Technology Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $170.64 billion In 2028 At A CAGR Of 14.9% :
The robotics technology market size has grown rapidly in recent years. It will grow from $85.37 billion in 2023 to $97.97 billion in 2024 at a compound annual growth rate (CAGR) of 14.8%. The growth in the historic period can be attributed to advances in sensor technologies, industrial automation and manufacturing needs, demand for efficiency and precision, growing interest in humanoid robots, growing number of investments and fundings in the field of technology.
The robotics technology market size is expected to see rapid growth in the next few years. It will grow to $170.64 billion in 2028 at a compound annual growth rate (CAGR) of 14.9%. The growth in the forecast period can be attributed to expansion of collaborative robotics, adoption of robotics in healthcare, increased use of drones and unmanned systems, growth in consumer robotics applications, integration of 5g technology in robotics. Major trends in the forecast period include technological innovations in artificial intelligence, development of soft robotics, robotics as a service (raas) models, emphasis on explainable ai in robotics, human-robot collaboration in various industries.
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Robotics Technology Market Major Segments
The robotics technology market covered in this report is segmented -
1) By Type: Industrial Robots, Mobile Robots, Service Robots, Other Types
2) By Component: Hardware, Software, Service
3) By End User: Aerospace Manufacturing, Agriculture, Automotive Manufacturing, Building Maintenance, Chemical and Fuel Processing, Construction, Consumer Products Manufacturing, Other End Users
Key Driver - Automation Revolution Driving The Growth Of The Robotics Technology Market
The increasing shift towards automation is driving the growth of the robotic technology market. The increasing use of automation, artificial intelligence, and other technologies is altering how humans and machines interact. Many organizations have expanded automation to indicate that it will allow intelligent machines to make complex or mission-critical decisions. The use of automation is deployed across an enterprise and ecosystem to build a more adaptable business that can respond quickly and adopt new technological operating models. This shift towards automation from the traditional method has changed the market dynamics, leading to an increase in the adoption of robotics technology. For instance, in February 2022, according to the International Federation of Robotics, a Germany-based non-profit organization, there are 23,000 industrial robots operating in UK factories in 2021, an increase of 6% from the previous year. Therefore, the increasing shift towards automation will drive the robotics technology market going forward.
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Prominent Trend - Innovative Solutions In Robotic Technology
Major companies operating in the robotic technology are innovating new technology, such as the Solix to provide reliable services to customers. Solix is an autonomous is a crop monitoring robot designed to provide real-time insights into the fields, working plant-by-plant to balance production and efficiency. For instance, in May 2022, Solinftec, a Brazil-based ag-tech company launched Solix. Solix robot is a solar-powered and equipped with lithium-ion batteries for energy storage. Solix consists of onboard camera and sensors paired with artificial intelligence (AI) technology to monitor plant health, detect insect damage and detect changes in the field.
Robotics Technology Market Players
Major companies operating in the robotics technology market report are Asea Brown Boveri Group (ABB), FANUC Corporation, Kawasaki Heavy Industries Ltd., KUKA AG, Mitsubishi Electric Corporation, Denso Corporation, Yaskawa Electric Corporation, Omron Corporation, Seiko Epson Corporation, Stäubli Robotics, Komatsu Ltd., Panasonic Corporation, Nachi-Fujikoshi Corp., Adept Technology Inc., NVIDIA Corporation, Anduril Industries, Boston Dynamics Inc., Diligent Robotics Inc., Intuitive Surgical Inc., Starship Technologies Inc., Nuro Inc., iRobot Corporation, Vecna Robotics Inc., Toshiba Corporation, AeroVironment Inc., Raytheon Technologies Corporation, Stryker Corporation, NEC Corporation, Ribbon Communications Operating Company Inc., ZTE Corporation
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the robotics technology market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the robotics technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Robotics Technology Market Report Structure
3. Robotics Technology Market Trends And Strategies
4. Robotics Technology Market - Macro Economic Scenario
5. Robotics Technology Market Size And Growth
…..
27. Robotics Technology Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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