Global Robotics Technology Market Size By Type (Cobots, Professional service robots), By Application (Aerospace & Defense, Healthcare), By Geographic Scope And Forecast

Robotics Technology Market Size And Forecast

Robotics Technology Market size was valued at USD 76.18 Billion in 2021 and is projected to reach USD 343.05 Billion by 2030, growing at a CAGR of 18.3% from 2023 to 2030.

The market for robotic technology is expanding as a result of the rising trend toward automation. How people and machines interact is changing as automation, artificial intelligence, and other technologies are used more frequently. Many businesses have taken automation to the point where they believe intelligent machines will be able to make difficult or crucial judgments. In order to create a more adaptable company that can react rapidly and adopt new technology operating models, automation is used across an organization and ecosystem. The market dynamics have altered due to the old approach being replaced by automation, which has increased the use of robotics technology. The Global Robotics Technology Market report offers a holistic evaluation of the market. The report provides a comprehensive analysis of key segments, drivers, restraints, trends, competitive landscape, and factors that are playing a substantial role in the market.

Global Robotics Technology Market Definition

The design, development, production, use, and exploitation of mechanical or electrical robots constitute the interdisciplinary field of engineering, science, and technology known as robotics. Electrical, information, software, control systems, mechanical engineering, computer science, mathematics, and artificial intelligence are the main disciplines and technologies that gave rise to it. Cybernetics, a transdisciplinary approach concerned with the practical application of robotics, and robotic technology is also linked.

Global Robotics Technology Market Overview

The increasing number of investments and funding in the technology sector is one of the main reasons for boosting the growth of the global robotics technology industry. According to the World Robotics report by the International Federation of Robotics, investments in new vehicle production technologies and the modernization of industrial regions have increased the demand for robots. Additionally, the worldwide Robotics Technology Market is expanding due to the spike in demand for industrial robots.

The increasing use of service robots globally is a crucial element driving the growth of the global robotic technology industry. Robotics technology is a fairly fragmented market. Due to Business and local digitization initiatives, the industry has exciting possibilities. The degree of openness is significant given the amount of robotic trade shows that regularly take place across various domains. Overall, the competition among the current players is tough. With new competitors who are committed to modernization, large businesses are anticipated to collaborate and expand their operations.

Global Robotics Technology Market Segmentation Analysis

The Global Robotics Technology Market is segmented on the basis of Type, Application, and Geography.

Robotics Technology Market, By Type

• Cobots
• Professional service robots
• Traditional industrial robots
• Others

Based on Type, the market is divided into Cobots, Professional service robots, Traditional industrial robots, and Others. Traditional industrial robots are expected to hold the largest market share as the adoption of automation solutions and the introduction of various production control techniques are important elements of current production improvement strategies. Industrial robots are also being employed in a wide range of industries, such as manufacturing and healthcare, as they become more widely accepted. Industrial robotics is a field that is fast expanding and has applications across many different sectors.

Robotics Technology Market, By Application

• Aerospace & Defense
• Healthcare
• Media & Entertainment
• Manufacturing
• Others

Based on Process, the market is divided into Aerospace & Defense, Healthcare, Media & Entertainment, Manufacturing, and Others. The thin Healthcare sector is expected to hold the largest market share. Robots in the healthcare industry help with minimally invasive procedures, individualized and routine monitoring for patients with long-term diseases, intelligent therapies, and social engagement for the elderly.

Robotics Technology Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

On the basis of Geography, the Global Robotics Technology Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Asia Pacific will hold the greatest share of the market because of an increasing number of government initiatives to support technological advancements that are fueling the growth of the Robotics Technology Market in the Asia-Pacific region. The Asia-Pacific robotics technology industry is expanding as a result of the numerous strategies that market participants are using.

Key Players

The “Global Robotics Technology Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Universal Robots A/S, Boston Dynamics, Northrop Grumman Corporation, Fanuc Corporation, KUKA AG, Mitsubishi, Yaskawa Electric Corp., Kawasaki Heavy Industries, Ltd., ABB Group, and Sony Corporation. 

The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.

Key Developments

• In January 2020, A new industrial robot line from Kuka called KR IonTec is developed for activities needing a payload of 30 to 70 kg.
• In August 2020, ABB unveiled the IRB 1300 articulated industrial robot, which will help clients meet the demand for a quicker, more portable robot that can quickly carry big objects or loads with complex or irregular shapes.
• In October 2020, Codian Robotics, a top supplier of delta robots for highly precise pick and place applications, has been acquired by ABB. Pharmaceuticals, food and beverage, and other hygiene-conscious businesses can benefit from Codian Robotics’ array of hygienic products.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Robotics Technology Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Robotics Technology Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Report Scope

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Research Methodology of Market Research

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities o