Robotics Market: Intelligence and Mobility Have Potential to Change Robotics Industry Growth

Global Robotics Market size was valued at USD 88.60 Bn in 2022 and is expected to reach USD 299.41 Bn by 2029, at a CAGR of 19%.

The field of robotics, a convergence of engineering and computer science, encompasses the conception, design, manufacturing, and operation of robots. These intelligent machines typically comprise manipulators, end effectors, controllers, power supplies, and an array of sensors providing environmental information and performance feedback. The overarching goal of robotics is to develop intelligent machines that can assist humans across various domains. The Robotics Market is diverse, with high demand for various types of robots, including industrial robots, service robots, medical robots, autonomous vehicles, humanoid robots, cobots, agricultural robots, exploration and space robots, defense and military robots, educational robots, and entertainment robots. In the industrial landscape, robots, particularly robotic arms, have found application in performing repetitive tasks, enhancing efficiency across manufacturing processes.

The Robotics Market is broadly categorized into conventional industrial robots and collaborative robots (cobots), stationary professional services (e.g., medical and agricultural applications), mobile professional services (professional cleaning, construction, underwater activities), and automated guided vehicles (AGVs) for logistics and assembly line transportation.Advances in artificial intelligence (AI) and human-robot interaction are driving transformative changes in the robotic Industry. With over 500 companies contributing to this bustling industry, ongoing developments in AI, machine intelligence, connectivity, and control are expanding the capabilities and scope of the robotics market. AI enables robots to handle unsupervised and unexpected situations, while swarm intelligence enhances the flexibility of mobile robots to share and adapt tasks on location. Imaging systems contribute to autonomous inspections, analysis, and movements. Additionally, the integration of 5G communication networks and edge services, cloud-based networks expanding computing power, further augments the operational radius of robots, which increases demand for the robotics market globally.

Changing consumer preferences and social robotics market trends are poised to accelerate the demand for advanced robotics solutions. The desire for quicker deliveries of customized products is fueling the expansion of robot capacity in manufacturing individualization and logistics applications. The aging demographics worldwide will drive the need for mobile service robotics market for personal hygiene, exercise assistance, meal delivery, and other tasks. Moreover, the growing importance of sustainability will lead robots to undertake complex disassembly and sorting tasks, aligning with environmental goals. The robotics market report covered a detailed analysis of the robotics industry and penetration of the robotics market in various industries, as well as the robotics market investment by key players and analysis of robotics market service providers. The robotics market is experiencing a dynamic evolution driven by technological advancements, AI integration, changing consumer demands, and societal shifts. The transformative impact of robots on efficiency, safety, and innovation is evident across industries, setting the stage for a future where intelligent machines play a pivotal role in various aspects of human life and work.To know about the Research Methodology :- Request Free Sample Report
Robotics Market Dynamics:
Advancements in Artificial Intelligence and Sensing Technologies in Robotics to Create Lucrative Opportunity for the Market

Robotics is a key advancement in artificial intelligence (AI) and sensing technologies, enabling robots to perform more complex tasks and interact with their environments in a more sophisticated manner. AI algorithms improve robots' ability and their experiences to adapt to new situations. Sensing technologies such as computer vision, tactile sensors, and LiDAR enable robots to navigate and interact with their surroundings more effectively. These advancements are driving the development of robots that can perform tasks with greater autonomy, such as autonomous vehicles, drones, and service robots for various industries. As a result, such technology implementation is expected to drive the Robotics Market growth during the forecast period.

Technology development initiated by the key participants in terms of partnerships, M&A, and funding to accelerate the development of advanced sensors is included with information on the related technology coupled with case studies on robotics illustrated in the robotics market report. Regional analysis investments, R&D activity, advanced sensor manufacturing companies, and regional collaborations are included in the research study. Advanced sensors have led to the development of advanced robotics systems. This research is primarily focused on the advancements in robotics industry in sensors, logistics, and defense applications. Such all these factors are expected to drive the Robotics Market demand.

The integration of artificial intelligence in robotics stands out as a significant driving force in the robotics market. The concept of AI-powered robots, a long-standing fascination, has transitioned from science fiction to tangible reality, reshaping the landscape for numerous industries. Businesses are actively leveraging AI-powered robots to bridge the gap between humans and technology, addressing challenges, and adapting their business models to evolving demands. Examples abound, from AI-enabled robots welcoming customers in retail settings, offering personalized information and guidance, to efficiently harvesting crops in agriculture and preparing customized beverages in coffee establishments. In industrial environments, these robots play a crucial role in ensuring worker safety within shared spaces, undertaking intricate tasks like cutting, grinding, welding, and inspection autonomously. This confluence of artificial intelligence and robotics is a transformative force propelling the Robotics industry forward.

The European Union´s (EU) 27 member states installed almost 72,000 units in 2022 up 6% year-on-year. These are preliminary results, presented by the International Federation of Robotics (IFR). The top five adopting countries within the EU are Germany, Italy, France, Spain, and Poland accounting for about 70% of all industrial robots installed within the EU in 2022.Insights of Robotics Market Investments

Robotics Market players have placed increasing emphasis on improving production efficiency, operational excellence, and competitive advantage in a highly competitive scenario. Companies are increasingly turning to robotics to reduce costs and lead times, reduce human interaction to improve safety, and increase production throughout.

The surge in robotics investment by major market players has amplified competition within the Robotics industry, simultaneously creating significant Robotics market opportunities. This influx of capital and commitment from key stakeholders has fostered a dynamic environment where companies strive to innovate and outpace their competitors. The intensified competition has led to a rapid evolution of robotic technologies and solutions, benefiting consumers and businesses alike. Moreover, the increased robotics market investment has stimulated the development of novel business models and strategic partnerships. Companies are exploring collaborative ventures to harness synergies, share expertise, and collectively address complex challenges. This collaborative spirit not only fosters innovation but also opens up new avenues for Robotics market expansion.



Company
Amount
Country
Tech-Prod-Service
Description


42dot
$782,791,615
South Korea
Autonomous Transportation Systems
42dot offers self-driving software and hardware solutions that enable and support autonomous mobility.


aiEndoscopic
$557,040
Switzerland
Surgical / Interventional Systems
aiEndoscopic is developing robotics systems for endoscopic tracheal intubation.


allocortech
$75,000
USA
Actuators / Motors / Servos, Controllers
Allocortech provides products for avionics, control systems, and general embedded systems for UAS and UAM aircraft applications.


ARTIAL
$120,000
USA
Operator Services, Data Acquisition / Processing / Management
ARTIAL provides drone-based inspection solutions for the construction, energy, and infrastructure sectors.


Baraja
Estimate
Australia
Sensors / Sensing Systems
Baraja produces LiDAR technologies for self-driving vehicles.


Bottobo
$1,000
Turkey
Indoor Mobile Platforms
Bottobo produces fully automated and self-contained warehouse robots and intelligent systems.


Carbon Robotics
$30,000,000
USA
Outdoor Mobile Platforms, Sensors / Sensing Systems
Carbon Robotics develops robots for agriculture-related applications.


Covariant
$75,000,000
USA
Software, Sensors / Sensing Systems
Covariant provides a number of software solutions that automate pick-and-place processes at warehouses and fulfillment centers.


Crow Industries
$120,000
USA
Outdoor Mobile Platforms
Crow Industries provides robotics enabled geomatics services to the mining industry.



Automation and Industry 4.0 to Drive the Market Growth

The increasing demand for robotics market is the current trend of automation especially in industries such as manufacturing, logistics, and healthcare. The concept of Industry 4.0, which focuses on the integration of digital technologies, data analytics, and IoT with manufacturing processes is expected to influence the adoption of robotics in the Robotics Market. These Smart Robotics market technologies allow smart factories and warehouses where robots work alongside human workers, enhancing productivity and flexibility while reducing human error. Modern industrial automation includes the use of data acquisition systems, distributed control systems, supervisory control, and programmable logistics controllers. They are consistent and predictable, making them ideal for processing chemicals, pulp, paper, oil and gas, or other raw materials. By adding Industry 4.0 capabilities to these systems, industrial automation includes access to peripheral data to further optimize operations based on real-time data.

Digital technologies are disrupting all elements of the value chain including product design, supply chain, manufacturing, and customer experience, while creating new business models. Global Robotics manufacturing giants such as Germany, France, the U.S., Japan, and Mainland China have all launched government-backed strategic initiatives to digitalize production across various industries. Even though there are many technologies currently playing a role in Industry 4.0 and the smart factory, for this report, we have focused on five key ones: additive manufacturing, artificial intelligence (AI), robotics, internet of things (IoT), and augmented and virtual reality (AR/VR).

Data Robot is another key automation start-up that managed to secure approximately USD 1.01 Bn in funding. Large manufacturing companies such as ABB, OMRON Corporation, Schneider Electric, Siemens, ST Engineering, Teradyne, and Tesla are acquiring smaller companies to leverage their technological expertise and decrease their learning curve. The Robotics market report covered a detailed analysis of the integration of Robotics market start-up businesses and strategies adopted by new robotics market entrance.High Initial Investment Costs to Hinder the Market Growth

The adoption of robotics required high investment in terms of purchasing robots. This high initial cost acts as a barrier for small and medium-sized enterprises (SMEs) and industries with limited capital resources. Also, the lack of skilled work staff, and regulatory and safety challenges are expected to restrain the Robotics Market growth. However, companies focus on developing robotic systems for a specific application segment or customer group. This approach will likely involve embedding relevant smart software as it emerges and could be adopted by companies that make modules for robot frames or the entire mechatronic system.
Robotics Market Segment Analysis
By Type: The industrial robotics market segment dominated the largest Robotics Market share in 2022. The segment growth is driven by its use in various industrial applications including material handling, assembly and disassembly, welding, cutting, grinding, painting, and clean room applications. Industrial robots will get a big boost from SMEs in China, Japan, and Western European countries such as India, Taiwan, the United States, and Canada, as well as countries outside Central and Eastern Europe. Manufacturers across all industries are expected to increasingly adopt intelligent manufacturing technologies including robotics, automation, AI, and cloud computing during the forecast period.By End-User: The automotive segment accounted for the largest Robotics Market share in 2022 and is expected to grow at a significant CAGR over the forecast period. In manufacturing operations machine handling and machine handling experiments, this robot is used. Manufacturers are focusing on adopting Industry 4.0 and leveraging advanced technologies as part of their digital transformation. As a result, the adoption of Industry 4.0 is expected to increase the need to integrate robotics into manufacturing processes, which is expected to have a positive impact on the growth of the robotics market during the forecast period.

The robotics industry has significantly contributed to the advancement of autonomous vehicles, leveraging highly sophisticated robotic applications for their operation. One noteworthy attribute that enhances their efficacy in this sector is the utilization of infrared or ultrasound sensors, which substantially improves accuracy and precision both in production processes and actual driving scenarios.

As of 2022, the investment in autonomous vehicles experienced a notable decrease, dwindling to $4.1 billion U.S. dollars from the more substantial figure of $9.7 billion in 2021. Nevertheless, this still represented an increase from the $8.2 billion invested in 2020 and the $8.2 billion in 2019. It's worth noting that 2018 recorded a relatively low investment of $4.0 billion. Despite the recent dip, the robotics market remains a driving force in shaping the trajectory of autonomous vehicle development.
Robotics Market Regional Analysis
Asia Pacific dominated the largest Robotics Market share of industrial robotics in 2022 and the region is a dynamic hub for the robotics market. China, South Korea and Japan countries have a high demand for the robotics market. China's rapid industrialization and investments in automation have influenced it to become a global manufacturing powerhouse, driving significant demand for industrial robots. Japan, with its focus on precision manufacturing and its aging population, has pioneered the development of service and healthcare robotics. South Korea's advancements in electronics and automotive manufacturing have also contributed to the region's overall growth.

In 2021, approximately 162,000 robotic units were installed, marking a marginal 1% decline compared to the previous year. However, this figure surpassed the combined installations in Europe and the Americas. The value of these installations reached an impressive 6.2 billion USD, reflecting a substantial 21% increase from the 2020 figures.

Chinese robotics market suppliers demonstrated a noteworthy uptick in their share of total installations within the domestic market, witnessing a 5 percentage point increase. This Robotics market trend aligns with China's strategic policy aimed at promoting domestic manufacturers. Conversely, installations of foreign robot suppliers, which also include units produced in China by non-Chinese suppliers, experienced a 7% reduction to approximately 113,000 units. This decline is attributed to a slowdown in the automobile industry.

Japan robotics market witnessed a remarkable surge in robot sales, with a 21% increase, reaching about 55,000 units—the highest recorded value for the country. Notably, the market exhibited an impressive average annual growth rate of 17% since 2020, a significant achievement for a market already characterized by highly automated industrial production. As the world's leading industrial robot manufacturer, Japan contributed 52% of the global supply in 2021, underscoring its pivotal role in the robotics market. The rise of e-commerce and demand for automation in logistics further boost the robotics market in this region.North America represents the second-largest operational stock of industrial robots in the world after China. Total installations in manufacturing rose by 12% and reached 41,624 units in 2022. The number one adopter is the automotive industry/companies based in the US, Canada and Mexico installed 20,391 industrial robots up 30% compared to 2021.

North America is a significant player in the global robotics market, driven by its robust technological ecosystem, strong investment in research and development, and diverse range of industries. The United States, in particular, has been a key contributor to the region's growth due to its leadership in technology innovation and adoption, which drive the US Robotics market demand. The automotive, manufacturing, and logistics sectors have embraced robotics to enhance efficiency and maintain competitiveness. Additionally, the presence of prominent robotics companies and startups has spurred innovation and driven North American robotics market expansion.

The Robotics Market report shows an all-time high of 517,385 new industrial robots installed in 2021 in factories around the world. This represents a growth rate of 31% year-on-year and exceeds the pre-pandemic record of robot installation in 2018 by 22%. Today, the stock of operational robots around the globe hits a new record of about 3.5 million units.
Robotics Market Scope: Inquiry Before Buying



Robotics Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 88.6 Bn.


Forecast Period 2023 to 2029 CAGR:
19%
Market Size in 2029:
US $ 299.41 Bn.


 Segments Covered:
by Robotics Mobility
Fixed Robots
Mobile Robots


by Application
RFID Scanning
Delivery
Security & Inspection
Advertising
Disinfection
Shelf scanning
Handling
Others


by End-User
Automotive
Retail
Logistics
Military and Defense
Medical &Healthcare
Electronic
Others



Robotics Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Robotics Key Players are:
1. Blue Ocean Robotics
2. Brain Corporation
3. Fetch Robotics, Inc.
4. Honeywell International Inc.
5. Motorola Solutions, Inc.
6. RoboAds
7. Siemens
8. Simbe Robotics, Inc.
9. SMP Robotics
10. Xenex Disinfection Services Inc.
11. ABB Group
12. Fanuc Corporation
13. Yaskawa Electric Corporation
14. Universal Robots (a part of Teradyne)
15. KUKA AG
16. Mitsubishi Electric Corporation
17. Denso Corporation
18. Kawasaki Heavy Industries Ltd.
19. Omron Corporation
20. Rethink Robotics (acquired by HAHN Group)
Frequently Asked Questions:
1] What is the growth rate of the Global Robotics Market?
Ans. The Global Robotics Market is growing at a significant rate of 19% during the forecast period.

2] Which region is expected to dominate the Global Robotics Market?
Ans. Asia Pacific region is expected to dominate the Robotics Market growth potential during the forecast period.

3] What is the expected Global Robotics Market size by 2029?
Ans. The Robotics Market size is expected to reach USD 299.41 Bn by 2029.

4] Which are the top players in the Global Robotics Market?
Ans. The major top players in the Global Robotics Market are Blue Ocean Robotics, Brain Corporation, Fetch Robotics, Inc.and others.

5] What are the factors driving the Global Robotics Market growth?
Ans. The shortage of workforce staff and increasing demand for industrial robots for various applications is the primary driver for the Robotics Market growth.