Robotics Technology Market size was over USD 82.7 billion in 2023 and is expected to reach USD 491.8 billion by the end of 2036, growing at around 15.3% CAGR during the forecast period i.e., between 2024-2036. In 2024, the industry size of robotics technology is evaluated at USD 95.3 billion.
The robotics technology market expansion is attributed to the rising adoption of automation across various industries. Companies across different sectors increasingly seek automation to relieve employees of monotonous tasks. By delegating these tasks to software, businesses can enhance customer satisfaction, reduce error rates, ensure compliance, and alleviate team stress. According to a 2020 report by the World Economic Forum, over 50% of employers anticipate accelerating the automation of some tasks in their organizations, and over 80% of company executives are speeding up plans to implement new technology and digitize work processes.
Advancements in artificial intelligence (AI), machine learning (MI), and sensors are driving the development and deployment of more sophisticated robotics systems. Moreover, businesses are increasingly investing in robotics to automate tasks that were formerly performed by humans. This shift helps companies reduce operational costs, increase efficiency, and maintain competitiveness. Also robotics can address labor shortages and perform tasks that are unsafe or unfavorable for human workers, further accelerating their adoption.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
15.3% |
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Base Year Market Size (2023) |
USD 82.7 billion |
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Forecast Year Market Size (2036) |
USD 491.8 billion |
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Regional Scope |
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Robot Type (Traditional Industrial Robots, Cobots, Professional Service Robots)
The traditional industrial robots segment is poised to capture 54.3% robotics technology market share by 2036. The segment growth can be attributed to the growing adoption of traditional industrial robots due to their ability to increase efficiency, accuracy, and safety. According to the European Commission report in 2022, the number of new industrial robots installed in companies worldwide reached an all-time high of 517,385 in 2021, up 31% from the previous year. The use of various forms of production control techniques, as well as automation solutions, is an important component of contemporary production improvement strategies. Furthermore, as industrial robots gain popularity, they are finding applications in a wide range of industries, including manufacturing and healthcare.
Application (Manufacturing, Healthcare, Aerospace & Defense, Media & Entertainment, Logistics)
The healthcare segment in the robotics technology market is set to garner a notable share in the forecast period. The increasing use of robots to aid surgeons in performing minimally invasive procedures is driving market expansion. Robotic surgical systems like the da Vinci system enable surgeons to perform delicate procedures with improved accuracy and reduced patient recovery times. According to the National Institutes of Health, over the last three years, there has been a 400% increase in the number of civilian hospitals running five or more da Vinci systems on a single site. Furthermore, by helping with sample processing and sorting, robotics in healthcare helps automate laboratory procedures, leading to improved efficiency and reduced errors. Similarly, telemedicine robots improve accessibility to healthcare services by enabling remote patient monitoring and consultation.
Our in-depth analysis of the robotics technology market includes the following segments:
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Component |
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Robot Type |
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Application |
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APAC Market Statistics
The robotics technology market in Asia Pacific is anticipated to hold the largest share of 36.1% by the end of 2036. The market growth in the region can be accredited to the growing investments in automation of various industries to improve productivity and efficacy in manufacturing plants and factories. According to the International Monetary Fund, Asia leads the globe in automation, accounting for 65% of industrial robot usage globally in 2017. Furthermore, various approaches are being adopted by market players, which is contributing to the expansion of the robotics technology market in Asia-Pacific.
In China, the adoption of manufacturing robots has been given top priority by the government, which is supporting it with substantial subsidies. According to the Organization for Research on China and Asia, Dongguan (a city in China) has launched 4,653 machine-for-human projects since 2014, attracting investments totaling 8.2 billion USD by 2023. Additionally, the city's annual fund of USD 28.07 million is dedicated to supporting industrial automation, with manufacturing firms eligible for a reimbursement of 10-15 percent of their expenses for new equipment.
The growing utilization of robots in the automotive sector in India is stimulating the robotics technology market. According to the International Federation of Robotics, in the automotive sector, India's robot density-defined as the number of industrial robots per 10,000 workers-reached 148 in 2021.
The integration of AI, cloud technology, and advanced manufacturing processes is propelling the growth of the robotics technology market in South Korea. This innovation is driving the modernization of manufacturing practices, making them more productive and raising the standards of intelligent production.
Europe Market Analysis
The robotics technology market in Europe is expected to experience significant growth. This is due to the rising demand for educational, industrial, interactive, and service robots during the forecast period. Also, the introduction of 5G technology is expected to transform the robotics sector by enabling quicker and more reliable communication. For instance, 5G is used by 10% of all mobile connections in Europe. This will allow for real-time data sharing, boosting robot capabilities, particularly in applications that need low latency.
The UK government is increasingly investing in robotics and AI to maintain its position as a world leader and foster economic expansion. For instance, in 2023 the UK government announced that USD 13.95 million in government financing was distributed to nineteen innovative initiatives advancing automation and robotic technologies to increase productivity, food security, and sustainable farming methods.
Collaborative robots, or co-bots, have experienced an upsurge in demand in Germany's robotics technology market. These robots are made to collaborate with people, enhancing productivity and security in production procedures. The creation of AI-powered robots, which have machine learning skills to adjust and enhance their performance over time, is another trend accelerating the market growth.
Prominent players in the industry are actively pursuing diverse tactics, such as collaborations and procurements, to augment their range of products and develop enduring competitive benefits.
Author Credits: Abhishek Verma
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