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.

With automation becoming all the rage, the robotic tech market is booming! It's changing how we work with machines, thanks to the rise of automation, AI, and other cool tech. Some companies are even trusting smart machines to make the big, important calls. They're using automation across their entire company – and even beyond – to become more flexible and quickly embrace new ways of doing things. This shift from the old ways to automation has really shaken things up, with robotics becoming more common. Want the lowdown on it all? The Global Robotics Technology Market report gives you the full scoop. It breaks down the key areas, what's driving the market, what's holding it back, the latest trends, who's competing, and all the other factors that are making a real difference.

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

We'll dig into the market with both qualitative and quantitative research, breaking it down into segments based on everything from money matters to more nuanced factors. We'll give you the market value in USD Billion for each of these segments and sub-segments, and even point out which region and segment is likely to be the fastest growing and the biggest overall. Our analysis will highlight what folks are actually buying in each region, plus what's influencing those buying habits. We'll also map out the competitive scene, showing you who's on top and covering all the new stuff – service launches, partnerships, expansions, and acquisitions – from the last five years. You'll get detailed company profiles, including an overview, insights, product comparisons, and a SWOT analysis for the major players. We’ll give you our take on where the market's headed, considering recent developments, opportunities, what's driving growth, and the challenges in both established and up-and-coming regions. We'll also use Porter's five forces to really get under the skin of the market. Plus, we'll give you insights into the Value Chain and explore the market's dynamics, including those sweet growth opportunities.