Robotics Market Size, Share, Growth Report 2032

Global Robotics Market Size

The global robotics market size was worth around USD 38.18 billion in 2023 and is predicted to grow to around USD 100.72 billion by 2032 with a compound annual growth rate (CAGR) of roughly 11.38% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD billion). The report covers a forecast and an analysis of the robotics market on a global and regional level.

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Global Robotics Market: Overview

Robotics is a branch of engineering that deals with the development of a robot by making use of computer science, mechanical, and electrical engineering. Robotics science is broadly segmented into service robots and industrial robots. The service robots are further classified into professional robots, personal robots, and domestic robots. Robotics technology is a mixture of the machine, computer applications, and tools.

Global Robotics Market: Growth Factors

The tremendous increase in the number of tablets and smartphone’s has contributed to the progression and expansion of the global robotics market. Increasing demand for automation in industries has transformed the implementation of robotics technology particularly in the automotive sector. With the significant development of technologies like nano-robotics, modular robotics, and cloud robotics, the global robotics market would certainly grow at a tremendous rate. The major market players in the market are manufacturing reasonable, compact, small, and energy proficient robotics solutions to capture customer base to increase the growth of the robotics market.

Other benefits that are offered by the robotics technology include increased efficiency, improved quality, automated methods, reduced error rates, and several other benefits propel the market to grow rapidly. Robotics technology is majorly used in wide range of industries which includes defense, healthcare, automotive, aerospace, and infrastructure. Robots are used for various activities encircling assembling products, surgical operations, detecting and defusing bombs product inspection, cleaning and domestic chores, and space missions. Owing to its increased application in several domains the robotics market anticipates to grow in the coming years.

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Global Robotics Market: Segmentation

The robotics market is categorized on the basis of different parameters such as application, types, components, and geography.

Based on the type, the market is categorized into an exoskeleton, mobile robotics, and static robotics.

Based on application, the robotics market is classified as military, agriculture, entertainment, personal, logistics, last mile mobility, construction/mining, research medical, and others. The other applications include aerospace, food processing, and automotive, among others. Among the application, the military section is anticipated to show its dominance the market.

Based on the components segment, the robotics market is segmented into control units, vision systems, sensors, brake systems, actuators, and others.

Robotics Market: Report Scope

Global Robotics Market: Regional Analysis

The global robotics technology market can be diversified across regions such as North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America. In terms of volume and revenue, it is anticipated that China may contribute a major share in the global robotics market. Owing to this factor Asia Pacific region expects to experience a rapid growth in the robotics market in the coming years. North America is anticipated to expand rapidly owing to the increased acceptance and adoption of the robotics technology. In the Middle East, the robotics market expects to experience a sluggish market growth rate.

Global Robotics Market: Competitive Players

Some of the important market players in the global robotics market include:

• Boeing
• Omron Adept Technologies
• iRobot Corporation
• Swisslog
• John Deere
• Barrette Technology LLC
• Google Inc.
• Honda Motor Co. Ltd.
• Lowe's
• Fanuc Corporation
• Amazon
• Northrop Grumman Corporation
• Seegrid Corporation
• Clearpath Robotics Inc.
• Savioke
• Aetheon Inc.
• Kuka AG
• Bossa Nova Robotics
• Locus Robotics
• Fetch Robotics

The Global Robotics Market is segmented as follows:

By Type 

• Exoskeleton
• Mobile Robotics
• Static Robotics

By Application 

• Military
• Agriculture
• Entertainment
• Personal
• Logistics
• Last Mile Mobility
• Construction/Mining
• Research Medical
• Aerospace
• Food Processing
• Automotive
• Among Others

By Components 

• Control Units
• Vision Systems
• Sensors
• Brake Systems
• Actuators
• And Others

Global Robotics Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • The UK
  • France
  • Germany
• The Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.