Global Robotics Market to Grow at 17.58% During 2023-2028, Bolstered by Rising Need to Automate Industrial Processes

December 10, 2021

According to the latest report by IMARC Group, titled "Robotics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global robotics market reached a value of US$ 39.2 Billion in 2022. Robotics is a sub-domain of science and mechanical engineering that produces programmable machines, called robots, to assist and replicate human actions. It deals with the construction, design, and operation of the robots through the use of various digital technologies, such as cognitive computing, sensors, control system, batteries, virtual reality (VR), artificial intelligence (AI), augmented reality (AR), and third-dimensional (3D) printing. They can also be equipped with tools that are equivalent to human senses, including vison, touch, mechanical limbs, and actuators. This enables the computer systems to control, send sensory feedback, and provide information processing codes, thereby implementing interaction with the physical world. Some of the tasks performed by robots include automating manual and repetitive tasks in industrial settings, working in hazardous environments, processing and delivering reports for enterprise security, and assisting in medical procedures.

 Global Robotics Market Trends:

The global robotics market is majorly being driven by the increasing automation and safety across several industry verticals, along with growing investments by governments of various nations to promote mobility and decision-making in unstructured environments. In line with this, the rising awareness regarding its associated benefits, such as convenience, reduced human errors, increased output level, and enhanced quality, is acting as another growth-inducing factor. Additionally, the increasing instances of cybersecurity threats has further prompted various small- and medium-sized enterprises (SMEs) to incorporate robots with their internal data systems, which, in turn, is supporting the market growth. Other than this, manufacturers are performing extensive research and development (R&D) activities to introduce innovative product variants and advance robotics technology, such as programming capacity, sensors, connected devices, machine learning (ML), legged mobility, and water-resistance robots. These products are compatible with the existing infrastructure and are helping in monitoring various environmental parameters, including temperature, light, motion, and air pressure, which is further catalyzing the market growth. Moreover, robotics is extensively being used in the medical and pharmaceutical industries for performing surgeries, rehabilitation, medical transportation, prescription dispensing, and sanitation, which is creating a positive outlook for the market. Looking forward, the market is expected to grow at a CAGR of 17.58% during 2023-2028.

Market Summary:

  • Based on the product type, the market has been bifurcated into industrial and service. Currently, service robots dominate the market.
  • Region-wise, the market has been segmented into North America, Asia Pacific, Europe, Middle East and Africa and Latin America.
  • The competitive landscape of the market has been examined, with some of the key players being ABB Group, KUKA AG, FANUC Corporation and Yaskawa Electric Corporation.


About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
USA: +1-631-791-1145
Email: sales@imarcgroup.com
Website: https://www.imarcgroup.com
Follow us on twitter : @imarcglobal

Global Robotics Market to Grow at 17.58% During 2023-2028, Bolstered by Rising Need to Automate Industrial Processes
Select Licence Type



Benefits of Customization

Personalize This Research

Triangulate with your Data

Get Data as per your Format and Definition

Gain a Deeper Dive into a Specific Application, Geography, Customer or Competitor

Any level of Personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Bayer AH

It was indeed a great experience to work with IMARC on the assignment on Aqua market. The team had done a fantastic job in terms of what was expected, what was assured and what was the result… the report gave us many insights and market know how which allowed us to work on our strength and define exact strategies…

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More