Robotics Market is predicted to reach USD 286,798.3 billion at a CAGR of 18.4% during the forecast period

Robotics Market Highlights

Robotics is a branch of science, engineering and technology that deals with the designing, construction and utilization of mechanically operated physical devices termed as robots. These robots are applied by the different end-users, such as medical, entertaining, fields, logistics, defense, and other ones. Based on the complexity and application, the robots market comprises industrial robots, service robots, medical robots, agricultural robots, and self-driving cars. Automated tools employed in manufacturing activities, where it is applied comprising of assembly, welding, and material handling through application of industrial robots. Serving robots are built to perform services to human beings in one capacity or the other, be it in the capacity of cleaning robots, care giving robots or customer relations robots among others. There are four classifications of medical robots, these include operational surgical robots, rehabilitation robots, diagnosing robots and per-operative robots. Applications of agricultural robots include crop scouting, fruit and vegetable picking, milking the cows etc. Self-driving automobiles as well as other syndicates of automobiles are also considered to be in the robot market; drones are examples of self-driving automobiles.

Market Research Future (MRFR) has published a cooked research report on the “Global Robotics market” that contains information from 2019 to 2032. The Robotics market is estimated to register a CAGR of 18.4% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the global Robotics market - Universal Robots A/S, Boston Dynamics, iRobot Corporation, Nachi-Fujikoshi Corp, Kawasaki Heavy Industries, Ltd., Honda Motor Co. Ltd, ABB Limited, Sony Corporation, Mitsubishi Electric Corporation, Northrop Grumman Corporation, Geekplus Technology Co., Ltd, Omron Corporation, FANUC Corporation, Kuka AG, Yaskawa Electric Corporation, and Denso Corporation.

Access full report @ https://www.marketresearchfuture.com/reports/robotics-market-4732

Market Highlights

The global Robotics market is expected to register a CAGR of 18.4% during the forecast period and is estimated to reach USD 286,798.3 billion by 2032.

Medical robots are revolutionizing healthcare by allowing better patient outcomes, more efficient clinical workflows and enhanced safety in current medical environments. These include surgical-assistance robots that employ AI and computer vision to enhance precision as well recovery times. These modular robots allow a modular provision of different tasks like rehabilitation and prosthetics that may further support patient recovery as well as mobility. Self-navigating Autonomous Mobile Robots (AMRs) are more responsible for tasks like disinfection and delivery of inventory, reduce reliance on human contact with pathogens and operational efficiency. Medical robots in general have made life better by carrying out surgeries successfully, reducing the operations needed and also improving safety for patients as well the healthcare professionals thus being a huge leap to transformation of how modern-day health care is practiced.

Robotics industry is growing rapidly and has witnessed widespread acceptance in the industrial ecosystem. Businesses are expected to increasingly use robots due to automation, coupled with latest technological advances. Rise in investments for the development of robots that have voice & speech recognition, fast movement & writing, learning abilities, easy accessibility & mobility, and manipulation & grasping will augment the industry size over the forecast timeframe. Sortation and filling of prescriptions, order picking & packaging within warehouses as well as sorting, inspecting, processing and handling of fruits & vegetables will boost the adoption of industrial robots.

Robots use AI, robot vision, machine learning, and cognitive computing to learn and interact with people, as well as to aid in decision making, learning, and problem solving. Robotics is one of the domains connected with artificial intelligence, in which mechanical and computer-controlled devices perform actions that need exceptional precision. Robotics employs artificial intelligence technology to program robot behavior. This allows a robot to function as a technological gadget that can be operated by a human engineer. Advanced artificial intelligence technology interacts with fully developed high-precision machine capabilities in robots to boost production, build an expert system, and integrate intelligence within the machines. Brain Corp, an artificial intelligence (AI) firm developing disruptive core technology in robotics, announced today the release of a next-generation autonomy platform for commercial robots. Brain Corp has launched a third-generation AI autonomy platform to power the next generation of autonomous commercial robots (CNW Group/Brain Corp).

Segment Analysis

The global Robotics market has been segmented based on Type, Environment, Mobility, Application and End User.

Based on Type, the global Robotics market segmentation includes Autonomous Mobile Robots (AMRs), Automated Guided Vehicles (AGVs), Articulated Robots, Humanoids, Collaborative Robots (Cobots) and Others. The Articulated Robots segment held the majority share in 2023, contributing around ~40.5% to the market revenue. Robots with rotating joints are referred to as articulated robots. In the area of robotics, these joints are frequently referred to as axes. Servo motors are commonly used to power articulated robots, which can range in complexity from a two-axis design to ones with ten or more axes. Six axes are the most common number of axes on industrial robots, which typically feature four to six.

Based on Environment, the global Robotics market segmentation includes Aerial, Ground and Marine. The Ground segment held the majority share in 2023 contributing around ~73.1% to the market revenue. In ground applications, robots and autonomous vehicles are used for tasks such as land surveying, soil sampling, and monitoring environmental conditions in difficult terrains. These robots can be equipped with sensors and cameras to collect data and perform environmental assessments. A vehicle that works while in physical touch with the ground and without a human operator is referred to as an unmanned ground vehicle (UGV). UGVs can be employed in a variety of situations where having a human operator present might be difficult, risky, or impossible. Typically, a vehicle will include a collection of sensors to examine its surroundings and make decisions about how to behave either on its own or by relaying information to a human operator at a remote place who will teleoperate to manage the vehicle.

Based on Mobility, the global Robotics market segmentation includes Mobile Robotics and Fixed Robotics. By Mobility, Mobile Robotics segment hold the majority market share in 2023 contributing 66.1% of the market share. Mobile robots are automatic machines that can move around in their environment. These robots are generally controlled by sensors and software to identify the surroundings. Mobile robots combine artificial intelligence with physical robot movement, which allows them to navigate their surroundings. Autonomous and non-autonomous are the two types of mobile robotics. Autonomous mobile robots (AMR) can explore the environment without external guidance. AMRs are equipped with complex sensors to detect objects in real-time. The field of mobile robotics is vital for companies to utilize AI technology correctly. With the development of mobile hoover cleaners, which have nearly full autonomy, mobile robotics has made its way into common household applications.

Based on Application, the global Robotics market segmentation includes Material Handling, Assembling & Disassembling, Welding & Soldering, Dispensing & Processing, Security & Inspection, Cleaning & Sanitization, Personal Assistance, and Others. By Application, Material Handling segment hold the majority market share in 2023 contributing 26.6% of the market share. The robot's basic capacity to move things is used for material handling (MH). The robot may carry products from one place to another with efficiency and accuracy by equipping it with the proper end-of-arm equipment (such as a gripper). Kawasaki's material handling robots can eliminate the requirement of hazardous, tedious, or fatiguing labor in an industrial environment. 52 versions with payload capacities ranging from 2 to 1500 kg are included in the list of Kawasaki MH robots. Conveyor tracking, collision detection, and servo-controlled end-of-arm tooling are just a few of the possibilities the Kawasaki robot controllers provide to help with MH applications.

Based on End-User, the global Robotics market segmentation includes Domestic/Household, Industrial, Medical & Healthcare, Farming and Agriculture, Retail and Hospitality, Logistics & Warehousing, Military & Defense, Construction & Infrastructure, Marine, Education, Sports & Entertainment, and Others. By End-User, Industrial segment hold the majority market share in 2023 contributing 32.4% of the market share. Based on Industrial, the market is further divided Automotive, Electrical & Electronics, Food & Beverages, Pharmaceuticals and Biotech, Cosmetics, Dairy, Metals & Machinery, Plastics, Rubbers, & Chemicals, and Others.

Regional Analysis

By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. In terms of revenue, Asia-Pacific held the largest share of 50.4% in the Robotics market in 2023 and is expected to maintain its dominance during the forecast period. The Asia-Pacific is the largest market for Robotics. Because it has more financial institutions than any other, the region has attracted international investors. Local players dominate the Asia-Pacific market, resulting in severe entry hurdles. Furthermore, owing to significant electronic and automobile manufacturing industry deployment, South Korea and China are prominent in robotics adoption. Asia is the world's largest market for industrial robotics, with nearly three quarters of all newly deployed robots installed there in 2022.

North America is one of the earliest adopters of industrial robotics due to the due to the swift adoption of smart factories and industrial automation. The region is also one of the leading automotive manufacturing markets after Europe and Asia. One of the primary drivers of growth in the North American robotics market can be attributed to expansions in the medical and healthcare industries. Robotic surgery, remote surgical procedures, remote consultation, and emergency services employing robotic arms have spurred the expansion of the robotics industry in North America.

The European robotics market is expanding rapidly due to this aspect. Germany is the leading country for robots and hence more advancements in robotics is seen in this region. Germany's manufacturing industry has the highest robot to employee density in Europe. Generative AI for the development of new robot systems, improvement of robot control and development of new robotics applications is seen in this region. Amazon has announced over €700 million investment in robotics and AI powered technologies across Europe.

Middle East and Africa area has a developing robotics market. In UAE, robotics are being adopted in defense, healthcare, education, and industrial sectors. Military robots are seen to have a huge demand in UAE. In Dubai, development is seen in the aerospace sector. Emirates Group to launch Emirates Centre of Excellence for Aviation Robotics. Drone robots and Medical robots have also been adopted in the region. The area has seen rapid expansion in the entertainment robot sector, which has ramifications for augmented reality. The region's government bodies are strengthening their industrial projects.

South America is becoming an important player in the robotics industry. Robotics is the study of robots, which are devices that may be taught to perform certain tasks autonomously. Countries such as Brazil, Mexico, and Colombia have made significant investments in robotics research and development in recent years, resulting in a thriving robotics sector in the area. Brazil is seen to have advancements of robotics in Agriculture sector. Accenture has agreed to acquired Pollux, a provider of industrial robotics and automation solutions, headquartered in Joinville, Brazil to make their factories, plants and supply chains more productive, safe and sustainable.

Key Findings of the Study

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  The global Robotics market is expected to reach USD 286,798.3 billion by 2032, at a CAGR of 18.4% during the forecast period.

  
  


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  The Asia Pacific region accounted for the fastest-growing global market, imperative factors, such as the significant number of investments in Asia Pacific, making it the primary contributor to the market share.

  
  


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  Based on Type, the Articulated Robots segment was attributed to holding the largest market in 2023, with an approximate market share of 40.5%.

  
  


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  Universal Robots A/S, Boston Dynamics, iRobot Corporation, Nachi-Fujikoshi Corp, Kawasaki Heavy Industries, Ltd., Honda Motor Co. Ltd, ABB Limited, Sony Corporation, Mitsubishi Electric Corporation, Northrop Grumman Corporation, Geekplus Technology Co., Ltd, Omron Corporation, FANUC Corporation, Kuka AG, Yaskawa Electric Corporation, and Denso Corporation are the key market players.