Press release
Global Robotics Technology Market: Projected Growth and Key Trends from 2024 to 2029
Global Robotics Technology Market
What Is The Projected Market Size Of The Global Robotics Technology Market And Its Growth Rate?
The global robotics market is witnessing significant growth, driven by advancements in sensor technologies and the expanding use of automation.
• The market size in 2024 was worth $95.87 billion.
• It is projected to grow to $108.89 billion in 2025 (13.6% CAGR).
• The expected market size in 2029 is $199.94 billion, with a CAGR of 16.4%.
Key drivers include the demand for efficiency and precision and the growing trend towards humanoid robots.
What Is Driving The Growth In The Robotics Technology Market?
Growth in the robotics technology market is mainly driven by a shift towards automation and the altering dynamics of human-machine interaction. Enterprises are increasing their use of automation to allow intelligent machines to make complex or mission-critical decisions. This change from traditional methods has significantly influenced market dynamics, contributing to increased adoption of robotics technology. A notable example is the surge in industrial robot installations in factories worldwide, which reached 553,052 in 2023, reflecting a 5% year-on-year growth.
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Who Are the Key Players Driving Robotics Technology Market Growth?
Key companies paving the path for growth in the robotics technology market include:
• 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.
What Are The Key Trends In The Robotics Technology Market?
Prominent trends in the market include:
• Technological advancements in artificial intelligence.
• Development of soft robotics.
• Expansion of robotics as a service (Raas) models.
• Emphasis on explainable AI in robotics.
• Growing human-robot collaboration.
What Are The Segments Of The Global Robotics Technology Market?
The global robotics technology market is categorized into various segments:
• By Type: Industrial Robots, Mobile Robots, Service Robots, Others.
• By Component: Hardware, Software, Service.
• By End User: Aerospace Manufacturing, Agriculture, Automotive Manufacturing, Building Maintenance, Chemical and Fuel Processing, Construction, Consumer Products Manufacturing, Others.
Which Region Leads The Robotics Technology Market?
Asia-Pacific led the global robotics technology market in 2024 and is expected to experience the fastest growth in the forecast period. The geographic coverage of the report spans across Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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What Is Covered In The Robotics Technology Market Global Market Report?
- Market Size Analysis: Analyze the Robotics Technology Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Robotics Technology Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Robotics Technology Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Robotics Technology Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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