Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Industrial Robotics Market size was valued at USD 19.84 billion in 2024 and is likely to cross USD 110.22 billion by 2037, registering more than 14.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of industrial robotics is estimated at USD 22.22 billion.
The growth of the market can be attributed to factors such as high cost of employing labor and inconvenience associated with providing benefits to laborers. Furthermore, human limitations to perform a certain task as well as higher productivity from service robots will ultimately lead to expansion of market in the upcoming years. In addition, increasing acceptance of collaborative robotics in several industries, rapid rate of industrialization, rising demand for automotive and growing need to improve safety in workplaces are also expected to drive market growth in the near future. The total sales of automobiles in the world are calculated to be more than 68 million units by the end of 2021. Out of these, passenger cars accounted for the largest category of motor vehicle production.
Industrial Robotics Sector: Growth Drivers and Challenges
Growth Drivers
- Rapid Growth of Industrialization Around the World
- Lack of Skilled Workforce and High Labor Cost
Challenges
- High Cost of Deployment of Industrial Robotics Technology
Industrial Robotics Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
14.1% |
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Base Year Market Size (2024) |
USD 19.84 billion |
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Forecast Year Market Size (2037) |
USD 110.22 billion |
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Regional Scope |
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Industrial Robotics Segmentation
The market is segmented by type into SCARA, articulated, parallel, cylindrical, Cartesian and others, out of which, the articulated robot segment is anticipated to hold the largest market share on the basis of its ability to perform consistent precise movements specially including applications such as assembling, material handling and others. Furthermore, articulated robots are widely used in pharmaceutical, food & beverages, automotive and others which will ultimately fuel the growth of the segment during the forecast period. The pharmaceutical robots market size grew significantly from 2019 to 2021. The value was estimated to be USD 125 million in and USD 140 million in the former and later years, respectively. Additionally, on the basis of end user, the automotive segment is expected to grab the largest market share owing to the increasing number of electric vehicles worldwide, rising use of automation in automotive manufacturing processes, and escalating application of digitization and AI in vehicles.
Our in-depth analysis of the global market includes the following segments:
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Type |
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Application |
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End User |
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Customize this ReportIndustrial Robotics Industry - Regional Synopsis
Asia Pacific industry is expected to account for largest revenue share by 2037, impelled by presence of nations such as China, Japan and India, where the output of automation and manufacturing industries is the highest in the world. Moreover, increasing international investments coupled with low cost of production in the region is also projected to boost market growth in the region. Additionally, with a notable surge in the population as well as disposable income, there is an increase in the consumption of consumer goods, which in turn is evaluated to lead to the increase in the production capacity of industrial robots in the region. According to the World Bank, the total population of South Asia has only increased since 1960. The value was recorded to be 1.836 billion in 2019.
Companies Dominating the Industrial Robotics Landscape
- Fanuc Corporation
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- ABB, Ltd, Switzerland
- Yaskawa Electric Corporation
- Kuka AG
- Trapo AG
- Toolmotion GmbH
- Nimak GmbH
- Stäubli International AG
- Sierra tango Robotics
- Rethink Robotics
In the News
Author Credits: Abhishek Verma
- Report ID: 3087
- Published Date: Dec 24, 2024
- Report Format: PDF, PPT
