Smart Robots Market size was USD 19.9 billion in 2024 and is estimated to reach USD 834 billion by the end of 2037, expanding at a CAGR of 33.3% during the forecast period, i.e., 2025-2037. In 2025, the industry size of the smart robots is estimated at USD 26.5 billion.
Smart robots play a pivotal role in advanced manufacturing and logistics by replacing rudimentary tasks. Advances in artificial intelligence and robotics continue to drive process automation in the industry, and nowhere is this more evident in the modern supply chain. By its very nature, logistics is a dynamic space with many moving parts. Present-day logistics businesses constantly seek ways to gain their competitive edge through workflow optimization As AI and robots begin to converge, companies are adopting smart robots to streamline complex workflows and create more value for customers.
In 2022, industrial robots emerged as the 2678th out of 5,606 most globally traded products, with the key exporters being Japan (USD 117 million), China (USD 115 million), Mexico (USD 99.6 million), Poland (USD 63.9 million), and Canada (USD 53.4 million). In the same year, the top industrial robot importers were the U.S. (USD 256 million), China (USD 56.3 million), Mexico (USD 27.9 million), Vietnam (USD 26.3 million), and Germany (USD 25 million). Driven by the rapid installation of industrial robots, in 2022 the world hit a record-breaking 3.9 million operational robots. As per an International Federation of Robotics report, the top countries measured by robot density comprise the Republic of Korea with 1,012 robots per 10,000 employees, Singapore with 730 units, and Germany with 415 units.
Global multinational companies have persistently selected the U.S. as a key destination for manufacturing and reshoring activities, and in 2019 the foreign direct investment (FDI) in the U.S. within the manufacturing sector represented 40.1% of the overall FDI in the country. Innovation in the manufacturing segment is key to global industry competitiveness and banking on this opportunity more and more key players are accelerating their automation capabilities to consolidate market share. In March 2024, NVIDIA and Teradyne Robotics collaborated to develop collaborative robots (cobot) and autonomous mobile robots using NVIDIA Jetson AGX Orin for edge AI applications, including NVIDIA’s cuMotion path, UR's PolyScope X software, and UR5e cobot platforms.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
33.3% |
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Base Year Market Size (2024) |
USD 19.9 billion |
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Forecast Year Market Size (2037) |
USD 834 billion |
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Regional Scope |
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Industry Vertical (Automotive, Manufacturing, Electrical & Electronic, Food & Beverages, Chemical, Residential)
The automotive segment is likely to capture smart robots market share of around 25.1% by the end of 2037. The growth of the segment is primarily attributed to the growing use of robots in manufacturing automobiles. The highest number of robots are employed by the automobile industry, with the operational stock reaching a new pitch of roughly 1 million units across the globe, in 2023, according to the International Federation of Robotics (IFR). Automobile manufacturers must keep up with both the overall advancement of technologies such as smart robots and the rising demand of their existing market to meet the evolving needs of the customers.
Smart robots make the work sophisticated enough to perform tasks with precision and efficiency, including stamping metal plates, trimming plastics, and sewing with the help of camera arrays or light sensors for superior vision. Furthermore, with the rise in automobile manufacturing, the demand for paints is also set to increase. Automotive robotics seamlessly carries out the priming and painting of the vehicle body with zero to no errors. Robots can be configured to spray paint in a linear pattern, stop spraying at specific points, and define how many coats of paint it should apply after how many hours of drying, among other things, limiting paint waste.
Application (Welding & Painting, Assembling & Disassembling, Mobility, Inspection & Security)
The global smart robots market based on application is segmented into welding & painting, assembling & disassembling, mobility, and inspection & security. Amongst these, the inspection & security segment is anticipated to exhibit significant growth over the forecast period. Smart security robots can navigate across complicated settings while spotting and reporting environmental problems. The smart robots integrated with artificial intelligence, machine learning, cameras, and sensors can detect and analyze the behavior of the object, offering real-time information to the operator on whether the object is dangerous or not. Even, when traveling across difficult terrain, they can maintain their equilibrium owing to their sensors and cameras.
Also, robots could now navigate in difficult terrains owing to advancements in 5G networks. Smart robots are extensively used in areas such as defense ministries, organizations dedicated to rescue or emergency operations, civil protection, law enforcement, and the sectors working for citizen security generally. Hence, owing to this, the sales of smart robots for inspection and security purposes are set to witness a hike in the coming years.
Our in-depth analysis of the global smart robots market includes the following segments:
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Component |
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Application |
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Industry Vertical |
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North America Market Forecast
North America smart robots market is anticipated to hold revenue share of over 45.5% by the end of 2037, backed by a growing e-commerce business and rise in the number of warehouses. According to Cyngn, an AI-powered autonomous technology provider, over 11,000 smart warehouses are located in North America. These advanced warehouses make widespread use of smart robots to minimize human errors and increase work efficiency. The region also has a presence of market giants like Tesla, which is known for advancements in humanoid and industrial robots including the Tesla Optimus.
The U.S. Department of Agriculture also revealed that in 2022, around 20% of individuals in the country bought groceries online. In the coming years, the number of online buyers in the U.S. is anticipated to increase substantially, creating a burden on warehouse and logistics. Thus, to combat this work pressure, warehousing companies are making considerable investments in adding network-linked devices including smart robots to their warehouses to make them more connected. These modifications make smart robot adoption more feasible since they depend on a fast network and digital data.
In Canada, to encourage the development of cutting-edge technologies in the robotics sector, the local government is offering supportive policies in the form of funds, subsidies, and tax benefits. In November 2022, the local government under the Strategic Innovation Fund (SIF) contribution invested around USD 30 million in Sanctuary Cognitive Systems Corporation, a robotics and AI-focused business in Vancouver. This investment increases the company’s total funding to USD 100 million to create the first general-purpose robots with similar human intelligence. The government aims to put Canada at the forefront of the commercialization of artificial intelligence with this investment.
Asia Pacific Market Statistics
The Asia Pacific smart robots market is estimated to increase at a robust CAGR over the forecast period. The adoption of smart robots is increasing in several industries as a result of the growing requirement for automation systems in various workplaces to improve quality by lowering errors and enhancing variety. Smart industrial robots are largely used in the region’s automotive sector to manage welding, painting, and assembly processes on manufacturing lines. They also improve operational precision and contribute to breakdown prediction.
In China, the sales of smart robots are anticipated to be fueled by the enormous demand for electronic items and new products, the need to automate manufacturing, and the expanding demand for processors, batteries, and displays. China is one the major producers of electronics products; to meet the growing demand for electronics, the manufacturers are implementing smart robotic technologies to minimize production time and error. According to the Information Technology & Innovation Foundation, China held 52% of the global robot installations in 2022. This highlights how lucrative is the China smart robots market.
In India, the rapid digital shift across several industries such as automotive, textile, healthcare, chemical, residential, and manufacturing is augmenting the sales of smart robots. For instance, according to the International Federation of Robotics (IFR), India reached a new record of 4,945-unit installation of industrial robots, in 2023. In terms of annual robot installations, India holds 10th rank, globally. Thus, the rise in industrial activities in the country coupled with digitalization & automation is set to push the adoption of smart robots market in the coming years.
Key players in the smart robots market are set to earn high profits in the coming years owing to the employment of several organic and inorganic marketing tactics. Industry giants are highly investing in research and development activities to introduce innovative robotic solutions. They are also collaborating with tech firms to integrate advanced technologies such as artificial intelligence, the Internet of Things, and machine learning into their products. Strategic partnerships with other market players are further contributing to cater to a wider consumer case. Regional expansion and mergers & acquisitions are some of the other factors aiding smart robots market players to earn high profits.
Some of the key players include:
Author Credits: Abhishek Verma
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