Global Robotics Market Insights Forecasts to 2032

• The Robotics Market Size was valued at USD 25.82 Billion in 2022.
• The Market Size is Growing at a CAGR of 16.2% from 2022 to 2032
• The Worldwide Robotics Market Size is expected to reach USD 115.88 Billion by 2032
• Europe is expected To Growth the fastest during the forecast period

The Global Robotics Market Size is expected to reach USD 115.88 Billion by 2032, at a CAGR of 16.2% during the forecast period 2022 to 2032.

Market Overview

Robotics is a multidisciplinary field that focuses on the design, development, and application of robots. These mechanical devices are programmed to perform tasks autonomously or with human assistance. Robotics encompasses various branches, including mechanical engineering, electrical engineering, computer science, and artificial intelligence. Robots can be found in diverse settings, ranging from manufacturing industries and healthcare facilities to space exploration and entertainment. Advancements in robotics have led to significant improvements in efficiency, accuracy, and safety across industries. Robots are capable of executing repetitive tasks with precision and can handle dangerous or hazardous environments that pose risks to human workers. They are also used in areas like prosthetics, surgery, and rehabilitation to enhance the quality of human life. Additionally, robotics plays a crucial role in research and development, enabling scientists to explore uncharted territories and unravel complex problems. As technology continues to evolve, robotics is expected to revolutionize numerous sectors, contributing to increased productivity, improved quality of life, and expanded possibilities for human-machine collaboration.

Report Coverage

This research report categorizes the market for robotics market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the robotics market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the robotics market.

Driving Factors

The robotics market is driven by several factors, including advancements in technology, increasing demand for automation across industries, and the need to enhance efficiency and productivity. With the rise of artificial intelligence, robots are becoming more intelligent, adaptive, and versatile, opening up new opportunities for innovation. The demand for automation is increasing as businesses seek to streamline processes, reduce costs, and improve quality and safety. Additionally, the growth of e-commerce, logistics, and warehousing sectors is driving the adoption of robots for tasks such as order picking and sorting. The need to overcome labor shortages, especially in industries like manufacturing, is another driver of the robotics market. Furthermore, the increasing focus on sustainability and the rise of collaborative robots or "cobots" that can work alongside humans are also contributing to the growth of the robotics market.

Restraining Factors

The robotics market faces certain restraints that hinder its growth and adoption. One significant restraint is the high initial cost associated with implementing robotics systems, including the expenses of research, development, and installation. This can be a deterrent for smaller businesses or industries with limited budgets. Additionally, concerns over job displacement and the impact on employment opportunities pose challenges to widespread adoption. The complexity of integrating robots into existing workflows and the need for specialized technical expertise for maintenance and programming also act as restraints. Moreover, regulatory and safety concerns, especially in sectors like healthcare and transportation, can impede the adoption of robotics technology. Finally, ethical considerations surrounding the use of robots, privacy concerns, and potential security risks also pose challenges to the robotics market.

Market Segmentation

• In 2022, the industrial robotics segment accounted for more than 28.4% market share

On the basis of the type, the global robotics market is segmented into industrial and service. the industrial robotics segment holds the largest share of the global robotics market in 2022. Industrial robots are designed for manufacturing and industrial processes, offering automation and precision in tasks such as assembly, welding, material handling, and painting. The demand for industrial robots is driven by several factors. Firstly, industries such as automotive, electronics, and aerospace rely heavily on industrial robots to enhance production efficiency, improve product quality, and reduce labor costs. Additionally, the growing adoption of automation across industries to meet increasing production demands and maintain competitiveness contributes to the market dominance of industrial robots. Moreover, advancements in robotics technology, such as the integration of artificial intelligence and machine learning, further enhance the capabilities and versatility of industrial robots. With ongoing industrialization and the continuous need for improved productivity and efficiency, the industrial robotics segment is expected to maintain its leading market share in the global robotics market.

• In 2022, the automotive industry segment dominated with more than 22.3% market share

Based on the type of end-user, the global robotics market is segmented into automotive, food & beverage, electronics, logistics, military & defense, medical & healthcare, and others. The automotive industry is the dominant player in the global robotics market, holding the largest market share in 2022, due to several key factors. The automotive sector has a high demand for robotics and automation solutions. Robots are extensively used in various stages of automotive production, including welding, painting, assembly, and quality control. The precision, speed, and repeatability offered by robots contribute to increased productivity, improved product quality, and cost savings. Moreover, the automotive industry operates on a large scale, with high production volumes and complex manufacturing processes. Robotics technology enables efficient and consistent production, meeting the industry's demands for speed, accuracy, and efficiency. Additionally, the automotive industry has been driving innovation in robotics, exploring collaborative robots and advanced robotics applications such as autonomous vehicles. With the continuous advancements in robotics technology and the automotive sector's persistent pursuit of automation, it is poised to maintain its leading market share in the global robotics market.

Regional Segment Analysis of the Robotics Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia-Pacific dominated the market with more than 51.4% revenue share in 2022.

Based on region, the Asia-Pacific region has emerged as a dominant player in the robotics market, holding the largest market share. Several factors contribute to this significant presence. The countries like China, Japan, and South Korea have made substantial investments in robotics research and development, fostering innovation and technological advancements. These countries have a strong manufacturing base and are driving the adoption of robotics across various industries, including automotive, electronics, and healthcare. Additionally, the increasing labor costs in the region have prompted businesses to automate their processes, leading to a higher demand for robotics solutions. Moreover, the growing population and urbanization in Asia-Pacific have created a need for efficient and advanced automation solutions. The region's strong economic growth, supportive government initiatives, and favorable investment climate further contribute to its leadership in the robotics market.

Recent Developments

• In July 2022, Premier Tech Systems & Automation launched the RPL SERIES robot palletizers, a Make-in-India solution that offers efficient robotic cells suitable for a wide range of palletizing requirements. The palletizer's gripper, which is manufactured in-house, can meet the varied palletization needs of modern packaging setups. With the capability to handle up to 1,800 bags per hour in a multi-pick-up configuration, the heavy-duty robotic cell can collect bags, bales, or containers from different incoming product lines.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global robotics market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Companies:

• Blue Ocean Robotics
• Finsen Technologies Ltd.
• Honda Motor Co. Ltd.
• Kawada Robotics Corporation
• Yaskawa Electric Corporation
• Denso Corporation
• Fanuc Corporation
• Kuka AG
• Kawasaki Heavy Industries Ltd
• Toshiba Corporation
• Panasonic Corporation
• Staubli International AG
• Nachi Robotic Systems Inc.
• Yamaha Motor Co. Ltd
• Seiko Epson Corporation
• Comau S.P.A (Stellantis N.V)
• Omron Adept Technologies Inc.
• Intuitive Surgical Inc.
• Stryker Corporation

Key Target Audience

• Market Players
• Investors
• End-Users
• Government Authorities 
• Consulting and Research Firm
• Venture Capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In July 2022, Premier Tech Systems & Automation launched the RPL SERIES robot palletizers, a Make-in-India solution that offers efficient robotic cells suitable for a wide range of palletizing requirements. The palletizer's gripper, which is manufactured in-house, can meet the varied palletization needs of modern packaging setups. With the capability to handle up to 1,800 bags per hour in a multi-pick-up configuration, the heavy-duty robotic cell can collect bags, bales, or containers from different incoming product lines.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global robotics market based on the below-mentioned segments:

Robotics Market, By Type

• Industrial
• Service

Robotics Market, By End-User

• Automotive
• Food & Beverage
• Electronics
• Logistics
• Military & Defense
• Medical & Healthcare
• Others
•  

Robotics Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa