Robotics Technology Global Market Report 2024

Description

“Robotics Technology Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on robotics technology market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
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Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
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Where is the largest and fastest growing market for robotics technology? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The robotics technology market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

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
Companies Mentioned: Asea Brown Boveri Group (ABB); FANUC Corporation; Kawasaki Heavy Industries Ltd.; KUKA AG; Mitsubishi Electric Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Robotics technology involves the engineering and operation of machines capable of autonomously or semi-autonomously performing physical tasks on behalf of humans. The primary objective of robotics is to develop devices that can work automatically, executing complex tasks faster and more efficiently than humans. Robotics finds application in various verticals, aiming to reduce errors, enhance efficiency, and streamline work processes.

The main types of robotic technologies include industrial robots, mobile robots, service robots, and others. Industrial robots are mechanical machines programmed to automatically perform production-related tasks in industrial environments. These robots utilize components such as hardware, software, and services, with applications spanning aerospace manufacturing, agriculture, automotive manufacturing, building maintenance, chemical and fuel processing, construction, consumer product manufacturing, and other end-user industries.

The robotics technology market research report is one of a series of new reports from The Business Research Company that provides robotics technology market statistics, including global market size, regional shares, competitors with a robotics technology market share, detailed robotics technology market segments, market trends and opportunities, and any further data you may need to thrive in the robotics technology industry. This robotics technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

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 observed in the historical period can be attributed to advances in sensor technologies, the increasing requirements in industrial automation and manufacturing, a demand for efficiency and precision in various applications, a growing interest in humanoid robots, and a rising number of investments and funding in the technology sector.

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 anticipated growth in the forecast period can be attributed to the expansion of collaborative robotics, increased adoption of robotics in healthcare, a surge in the use of drones and unmanned systems, growth in consumer robotics applications, and the integration of 5G technology in robotics. Major trends expected in the forecast period include technological innovations in artificial intelligence, the development of soft robotics, the rise of Robotics as a Service (RaaS) models, a focus on explainable AI in robotics, and the promotion of human-robot collaboration across various industries.

The growth of the robotic technology market is being fueled by the increasing shift towards automation. The widespread adoption of automation, artificial intelligence, and other technological advancements is reshaping the interaction between humans and machines. Organizations are embracing automation to empower intelligent machines to make intricate or mission-critical decisions. This implementation of automation spans across entire enterprises and ecosystems, creating a more adaptable business environment capable of swift responses and the assimilation of new technological operating models. This departure from traditional methods has altered market dynamics, resulting in a surge in the adoption of robotics technology. For example, as of February 2022, the International Federation of Robotics reported a 6% increase in the number of industrial robots operating in UK factories, reaching 23,000 in 2021 compared to the previous year. The momentum towards automation is poised to be a driving force in the robotics technology market.

The robotics technology market is anticipated to experience growth due to the escalating labor costs. Rising labor costs, referring to expenses incurred by organizations in compensating their workforce, are compelling the adoption of robotics technology to streamline tasks efficiently and achieve cost savings. As of August 2023, the United States Department of Agriculture reported a 7. 9% increase in the average hourly wage for agricultural managers, reaching $27. 57 in 2022 compared to the previous year. This upward trend in labor costs is a key factor propelling the growth of the robotics technology market.

Key players in the robotics technology market are at the forefront of innovation, introducing new technologies like Solix to enhance services for customers. Solix, an autonomous crop monitoring robot developed by Solinftec, a Brazil-based ag-tech company, offers real-time insights into fields, operating on a plant-by-plant basis to optimize production and efficiency. Launched in May 2022, Solix is solar-powered and equipped with lithium-ion batteries for energy storage. It utilizes onboard cameras, sensors, and artificial intelligence (AI) technology to monitor plant health, identify insect damage, and detect changes in the field.

Major companies in the robotics technology sector are embracing cutting-edge technologies such as RelayRx. Developed by Relay Robotics Inc., a US-based robotics solutions company, RelayRx is a hospital delivery robot designed to address the nursing shortage. Launched in June 2023, RelayRx robots facilitate the safe transportation of hospital supplies, including test specimens, drugs, and equipment, through congested hospital settings. These robots feature improved navigational capabilities and chain-of-custody security features, moving freely throughout a hospital and connecting areas such as the pharmacy and blood bank with patient rooms in approximately seven minutes using Relay's proprietary elevator technology.

In July 2021, ABB Group, a European-based automation company, acquired ASTI Mobile Robotics Group for an undisclosed amount. This acquisition is set to enhance ABB's robotics and automation offering, allowing the company to deliver a comprehensive automation portfolio while expanding into new industry segments. ASTI Mobile Robotics Group, a European-based manufacturer of autonomous mobile robots (AMRs), brings unique capabilities to ABB's portfolio.

Major companies operating in the 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, Staubli 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

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 countries covered in the robotics technology market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The robotics technology market consists of revenues earned by entities by providing consumer robots and medical robots. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r10562

1. Executive Summary

2. Robotics Technology Market Characteristics

3. Robotics Technology Market Trends And Strategies

4. Robotics Technology Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Robotics Technology Market Size and Growth

5.1. Global Robotics Technology Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Robotics Technology Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Robotics Technology Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Robotics Technology Market Segmentation

6.1. Global Robotics Technology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Industrial Robots
Mobile Robots
Service Robots
Other Types
6.2. Global Robotics Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Hardware
Software
Service
6.3. Global Robotics Technology Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Aerospace Manufacturing
Agriculture
Automotive Manufacturing
Building Maintenance
Chemical and Fuel Processing
Construction
Consumer Products Manufacturing
Other End Users

7. Robotics Technology Market Regional And Country Analysis

7.1. Global Robotics Technology Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Robotics Technology Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Robotics Technology Market

8.1. Asia-Pacific Robotics Technology Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Robotics Technology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Robotics Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. 4. Asia-Pacific Robotics Technology Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Robotics Technology Market

9.1. China Robotics Technology Market Overview
9.2. China Robotics Technology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Robotics Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9. 4. China Robotics Technology Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Robotics Technology Market

10.1. India Robotics Technology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Robotics Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Robotics Technology Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Robotics Technology Market

11.1. Japan Robotics Technology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. Japan Robotics Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Robotics Technology Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Robotics Technology Market

12.1. Australia Robotics Technology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Robotics Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Robotics Technology Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Robotics Technology Market

13.1. Indonesia Robotics Technology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Robotics Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Robotics Technology Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Robotics Technology Market

14.1. South Korea Robotics Technology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. South Korea Robotics Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Robotics Technology Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Robotics Technology Market

15.1. Western Europe Robotics Technology Market Overview
15.2. Western Europe Robotics Technology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Robotics Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. 4. Western Europe Robotics Technology Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Robotics Technology Market

16.1. UK Robotics Technology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Robotics Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Robotics Technology Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Robotics Technology Market

17.1. Germany Robotics Technology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Robotics Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Robotics Technology Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Robotics Technology Market

18. 5. France Robotics Technology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 6. France Robotics Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 7. France Robotics Technology Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Robotics Technology Market

19. 9. Italy Robotics Technology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy Robotics Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy Robotics Technology Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Robotics Technology Market

20.13. Spain Robotics Technology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain Robotics Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain Robotics Technology Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Robotics Technology Market

21.1. Eastern Europe Robotics Technology Market Overview
21.2. Eastern Europe Robotics Technology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Robotics Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21. 4. Eastern Europe Robotics Technology Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Robotics Technology Market

22.1. Russia Robotics Technology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Robotics Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Robotics Technology Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Robotics Technology Market

23.1. North America Robotics Technology Market Overview
23.2. North America Robotics Technology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Robotics Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23. 4. North America Robotics Technology Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Robotics Technology Market

24.1. USA Robotics Technology Market Overview
24.2. USA Robotics Technology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Robotics Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24. 4. USA Robotics Technology Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Robotics Technology Market

25.1. Canada Robotics Technology Market Overview
25.2. Canada Robotics Technology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Robotics Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. 4. Canada Robotics Technology Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Robotics Technology Market

26.1. South America Robotics Technology Market Overview
26.2. South America Robotics Technology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Robotics Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. 4. South America Robotics Technology Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Robotics Technology Market

27.1. Brazil Robotics Technology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Robotics Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Robotics Technology Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Robotics Technology Market

28.1. Middle East Robotics Technology Market Overview
28.2. Middle East Robotics Technology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Robotics Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. 4. Middle East Robotics Technology Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Robotics Technology Market

29.1. Africa Robotics Technology Market Overview
29.2. Africa Robotics Technology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Robotics Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. 4. Africa Robotics Technology Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Robotics Technology Market Competitive Landscape And Company Profiles

30.1. Robotics Technology Market Competitive Landscape
30.2. Robotics Technology Market Company Profiles
- 30.2.1. Asea Brown Boveri Group (ABB)
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1. 4. Financial Performance
- 30.2.2. FANUC Corporation
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2. 4. Financial Performance
- 30.2.3. Kawasaki Heavy Industries Ltd.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3. 4. Financial Performance
- 30.2. 4. KUKA AG
  - 30.2. 4.1. Overview
  - 30.2. 4.2. Products and Services
  - 30.2. 4.3. Strategy
  - 30.2. 4. 4. Financial Performance
- 30.2. 5. Mitsubishi Electric Corporation
  - 30.2. 5.1. Overview
  - 30.2. 5.2. Products and Services
  - 30.2. 5.3. Strategy
  - 30.2. 5. 4. Financial Performance

31. Global Robotics Technology Market Competitive Benchmarking

32. Global Robotics Technology Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Robotics Technology Market

34. Robotics Technology Market Future Outlook and Potential Analysis

34.1 Robotics Technology Market In 2028 - Countries Offering Most New Opportunities
34.2 Robotics Technology Market In 2028 - Segments Offering Most New Opportunities
34. 3 Robotics Technology Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35. 4. Research Inquiries
35. 5. The Business Research Company
35. 6. Copyright And Disclaimer