Press release
Top Robotics Global Market is Forecasted to Reach $267.68 Billion by 2028, Size, Share, Trends, Development Strategies and Segmentation Analysis
Top Robotics Global Market
Top Robotics 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 $267.68 billion In 2028 At A CAGR Of 19.9% :
The top robotics market size has grown exponentially in recent years. It will grow from $106.7 billion in 2023 to $129.42 billion in 2024 at a compound annual growth rate (CAGR) of 21.3%. The growth in the historic period can be attributed to growing emphasis on reduction in human error, government initiatives for the adoption of robotics, surge in demand for industrial robots, rising usage of robots in both the industrial and domestic sectors, labor shortages.
The top robotics market size is expected to see rapid growth in the next few years. It will grow to $267.68 billion in 2028 at a compound annual growth rate (CAGR) of 19.9%. The growth in the forecast period can be attributed to growing demand for cleaning robots, government support for worker shortages, e-commerce and logistics growth, increasing use of robots in healthcare, focus on sustainability and reducing carbon footprints. Major trends in the forecast period include collaborative robots (cobots), ai advancements, industrial automation, humanoid and social robots, robotics as a service (raas).
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Top Robotics Market Major Segments
The top robotics market covered in this report is segmented -
1) By Type: Top Industrial Robotics, Top Services Robotics
2) By Application: Handling, Welding And Soldering, Assembling And Disassembling, Dispensing, Other Applications
3) By End Use Industry: Autmotive, Electrical And Electronics, Metals And Machinery, Food And Beverages, Pharmaceuticals And Cosmetics, Other End Use Industries
Key Driver - Rising Robot Adoption In Logistics Sector Drives Robust Growth In The Top Robotics Market
The increase in use of robots in the logistics sector is projected to fuel the growth of the top robotics market over the coming years. The total procedure of handling how assets are bought, stored, and transported to their eventual destination is referred to as logistics. Robotics in logistics allows for remote connections with devices from which humans can observe and oversee the robot's operations, as well as lower logistics costs, more rapid cargo preparation, and higher delivery precision. For instance, according to the International Federation of Robotics, a US-based professional non-profit organization to promote, strengthen and protect the robotics industry, about 121,000 professional service robots were sold in 2021. Sales of medical robots were up 23% to 14,823 units. Therefore, the increasing use of robots in the logistics sector drives the growth of the top robotics market.
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Prominent Trend - Technological Advancements Drive Evolution In The Top Robotics Market, Enabling Advanced Ai-Powered Machines
The growing technological advancements are shaping the top robotics market. Technological advancements have authorized manufacturers to use lightweight robots that can manage numerous tasks and improve productivity. Artificial intelligence, machine learning, and other emerging technologies have been put into robots to replicate human intelligence and facilitate some of the jobs that humans perform. For instance, in January 2021, Omron, a Japan-based electronics company launched the Omron i4 which has an inbuilt AI system for predictive maintenance. This is a next-generation industrial robot that can identify and communicate when it's time for repairs and maintenance.
Top Robotics Market Players
Major companies operating in the top robotics market include ABB Ltd., The Yaskawa Electric Corporation, FANUC Corporation, KUKA AG, Kawasaki Heavy Industries Ltd., Nachi-Fujikoshi Corp., Honda Motor Co. Ltd., Mitsubishi Electric Corporation, Northrop Grumman Corporation, Denso Corporation, Seiko Epson Corporation, Universal Robots, Omron Adept Technology Inc., Stäubli, Comau, Yamaha Motor Co. Ltd., ST Robotics, CMA Robotics S.P.A., Daifuku Co. Ltd., Neato Robotics, SoftBank Robotics Group Corp., GE Inspection Robotics AG, Starship Technologies, Nuro Inc., Intuitive Surgical Inc., Dürr AG, b+m Surface Systems Pvt. Ltd., igm Robotersysteme AG, Franka Emika GmbH, iRobot Corporation, DeLaval, Stryker Corporation
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the top robotics market in 2023. The regions covered in the top robotics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Top Robotics Market Report Structure
3. Top Robotics Market Trends And Strategies
4. Top Robotics Market - Macro Economic Scenario
5. Top Robotics Market Size And Growth
…..
27. Top Robotics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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