Robotics Technology Market Report by Component (Hardware, Software, Services), Robot Type (Traditional Industrial Robots, Cobots, Professional Service Robots, and Others), Application (Manufacturing, Healthcare, Aerospace and Defence, Media and Entertainment, Logistics, and Others), and Region 2024-2032

Robotics Technology Market Report by Component (Hardware, Software, Services), Robot Type (Traditional Industrial Robots, Cobots, Professional Service Robots, and Others), Application (Manufacturing, Healthcare, Aerospace and Defence, Media and Entertainment, Logistics, and Others), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A6341
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Market Overview:

The global robotics technology market size reached US$ 98.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 228.7 Billion by 2032, exhibiting a growth rate (CAGR) of 9.51% during 2024-2032.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 98.6 Billion
Market Forecast in 2032
US$ 228.7 Billion
Market Growth Rate 2024-2032 9.51%


The field of robotics technology involves the fusion of technologies and engineering disciplines, such as mechanical engineering, computer science, electronics, and electrical engineering, to produce machines called robots that resemble human beings. An AI robot can mimic human behavior or be a robot application, like robotic process automation (RPA), which simulates how humans interact with software to accomplish repetitive, rules-based tasks. Robotics technology aims to create Intelligent machines that enhance an organization's performance and produce better results.  New applications for service robots are being developed due to their numerous advantages, such as increased productivity, streamlined processes, and greater workplace safety. Furthermore, robotic technology allows for a reduction in operational costs and a high return on investment.

Robotics Technology Market Trends:

The market is majorly driven by the increasing adoption of robots in various end-use industries, such as automotive, manufacturing, food and beverage, and electronics. This can be attributed to the escalating demand for customized business operation solutions. Furthermore, the rapid adoption of robotics technology in telesurgery, parenteral nutrition and disabled patient care in the healthcare sector is resulting in a higher product update. Apart from this, the growing usage of robotics in military and defense sectors for monitoring, bomb dispersal, and mine detection is providing an impetus to the market. In line with this, a significant shift towards the implementation of artificial intelligence, machine learning, industrial internet of things (IIoT), and human-machine interface technology is impacting the market positively. Some of the other factors contributing to the market growth include continual developments in inventive, energy-efficient and cost-effective robots, rapid urbanization and industrialization, the widespread product adoption in SMEs, increasing penetration of high-speed internet, and extensive research and development (R&D) activities.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global robotics technology market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on component, robot type and application.

Breakup by Component:

  • Hardware
  • Software
  • Services
     

Breakup by Robot Type:

  • Traditional Industrial Robots
  • Cobots
  • Professional Service Robots
  • Others
     

Breakup by Application:

  • Manufacturing
  • Healthcare
  • Aerospace and Defence
  • Media and Entertainment
  • Logistics
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., DENSO Corporation, FANUC Corporation, Kawasaki Heavy Industries Ltd., KUKA AG (Midea Group), Mitsubishi Electric Corporation, OMRON Corporation, Seiko Epson Corporation, Stäubli International AG and Yaskawa Electric Corporation.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Component, Robot Type, Application, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered ABB Ltd., DENSO Corporation, FANUC Corporation, Kawasaki Heavy Industries Ltd., KUKA AG (Midea Group), Mitsubishi Electric Corporation, OMRON Corporation, Seiko Epson Corporation, Stäubli International AG and Yaskawa Electric Corporation
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global robotics technology market was valued at US$ 98.6 Billion in 2023.

We expect the global robotics technology market to exhibit a CAGR of 9.51% during 2024-2032.

The rising adoption of robotics technology, as it aids in developing intelligent machines that enhance the performance of organizations and produce better results, is primarily driving the global robotics technology market.

The sudden outbreak of the COVID-19 pandemic has led to the increasing deployment of robotics technology across numerous industries, such as manufacturing, healthcare, automotive, etc., to prevent the further transmission of the coronavirus infection upon human intervention.

Based on the component, the global robotics technology market has been categorized into hardware, software, and services. Currently, hardware accounts for the majority of the total market share.

Based on the robot type, the global robotics technology market can be segregated into traditional industrial robots, cobots, professional service robots, and others. Among these, traditional industrial robots exhibit clear dominance in the market.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.

Some of the major players in the global robotics technology market include ABB Ltd., DENSO Corporation, FANUC Corporation, Kawasaki Heavy Industries Ltd., KUKA AG (Midea Group), Mitsubishi Electric Corporation, OMRON Corporation, Seiko Epson Corporation, Stäubli International AG, and Yaskawa Electric Corporation.

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Robotics Technology Market Report by Component (Hardware, Software, Services), Robot Type (Traditional Industrial Robots, Cobots, Professional Service Robots, and Others), Application (Manufacturing, Healthcare, Aerospace and Defence, Media and Entertainment, Logistics, and Others), and Region 2024-2032
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