Global Robotics Market, Volume, Size, and Forecasts 2023: A $40.43 Billion Industry in 2022 - Forecast to 2030 - High Competition Spurs Industrial Branches to Embrace Advanced Technology

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Nov 15, 2023, 21:00 ET

DUBLIN, Nov. 15, 2023 /PRNewswire/ -- The "Global Robotics Market, Volume, Size, Forecast 2023-2030, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.

Global Robotics Market was valued at US$ 40.43 Billion in 2022 and is projected to reach US$ 231.85 Billion by 2030 at a CAGR of 24.4%

Robotics Market growth in concern, the expansion of energy-efficient drive systems, and high competition among industrial branches for switching towards advanced technology and automation are propelling market growth. Due to the increased demand, there has also been significant investment in the robotics sector. According to the International Federation of Robotics World Robotics Report, investments in new auto manufacturing facilities and the modernization of industrial facilities had increased demand for robots.

Digitization and the industry 4.0 revolution have propelled the growth of automation among sectors by making them use more innovative and automated solutions, such as robotics and control systems, to better their production processes. Several key elements of Industry 4.0 apply to robotics, such as connectivity and data. Recently, Siemens collaborated with Google Cloud intending to amalgamate Google Cloud data cloud and artificial intelligence/machine learning mechanism with its factory automation solutions.

Industrial robotics is most frequently used in the automotive industry

Industrial robotics are being used in many different industries as they gain popularity, such as the automotive industry, electrical and electronics industry, metal and machinery industry, plastic and chemical products, food industry, and others. The implementation of automation solutions and the introduction of various production control techniques are important elements of current production improvement plans.

Due to a number of factors, the automotive industry, a significant end-user of industrial robots, significantly drives growth in the industrial robotics market and volume. Notably, the growing popularity of electric vehicles (EVs) is a major driver of robot adoption because EV production requires special robotic capabilities for welding, painting, and assembly.

Automobile manufacturers are embracing robots to save money by automating tasks as a result of rising labour costs around the world. Industrial robots also improve safety by reducing mishaps through planned and sensor-equipped operations, which increases their appeal in the automotive industry.

Medical Service Robotics is gaining popularity in the global robotics market

The global robotics market is anticipated to grow as a result of the rising use of service robots in important end-use industries like transportation and logistics, professional cleaning, medical robotics, hospitality, agriculture, and fields, and others.

The medical industry is using robots to help with minimally invasive treatments, personalized and routine monitoring for patients with chronic conditions, intelligent therapies, and social interaction for the elderly, which increases their market and volume share. The number of surgical procedures aided by medical robots is rising, which accelerates the market rate of product innovation.

The National Institute for Occupational Safety and Health (NIOSH) also claims that healthcare workers have the most dangerous industrial jobs in the country and suffer from the highest number of nonfatal occupational illnesses and injuries. Approximately 6,000 surgical robots are thought to perform a million operations worldwide. Reputable institutions like MIT and the University of Michigan are developing the technology to supply tiny, portable robots to the medical industry.

United States is expected to remain dominant in the robotics market in North America for the foreseeable future

North American countries of the United States, Canada, Mexico, and Others make up the majority of the global robotics market. United States acclaim in the robotics industry can be credited to its long history of innovation and significant market size.

Furthermore, the existence of leading robotics behemoths such as ABB, Fanuc, and KUKA, along with significant financial investments in R&D, fosters innovation within the sector. Moreover, the State offers tax breaks and other incentives to companies that invest in robotics.

Businesses in Germany are the use of robotics to cut charges due to rising labor prices

Europe, which incorporates international locations like France, Germany, Italy, Spain, and others, makes up a considerable part of the global robotics market. Robots are top notch at automating labour-intensive responsibilities together with welding, portray, and assembling automobile components, which leads to vast financial savings.

This improvement is recommended by means of German authorities thru packages just like the Robotics Innovation Center and the Robotics Competence Network, together with tax breaks, and research funding. The establishments just like the Technical University of Munich and the University of Stuttgart who represent the instructional research community, helps the development of modern robotics era.

Asia-Pacific location of the worldwide robotics market is expected to be dominated through China

The Republic of Korea, Thailand, China, India, Japan, and other nations are included in the categories for Asia and Australia on the global robotics market. China reputation within the robotics enterprise advantages from a skilled exertions pressure, particularly in STEM (Science, Technology, Engineering, and Mathematics) fields.

China thriving manufacturing quarter, actively embraces robotics to reinforce productivity, as evidenced by means of the automobile enterprise investments in environmentally pleasant vehicles. Through economic aid and incentive applications just like the National Robotics R&D Program and the Robotics Industry Development Plan, the Chinese authorities significantly help robotics. These programs sell innovation, improvement, and expert cooperation, helping the growing robotics industry in the Country.

Key Players

KUKA, iRobot, Intuitive Surgical, Panasonic, Fanuc, ABB Ltd., and Stryker Corporation are some of the organizations that represent the global robotics market.

In October 2022, ABB unveiled its smallest industrial robot ever, establishing up novel possibilities for the fast, flexible, and great manufacture of wearable wise gadgets. With its small size, magnificence-main payload, and unmatched accuracy, the brand new IRB 1010 offers electronics producers the threat to automate the manufacturing of a much broader variety of products, including high-tech watches, earphones, sensors, and health trackers.

Company Insights: Overview, Recent Developments, Sales Analysis

KUKA
iRobot Corporation
Intuitive Surgical, Inc.
Panasonic Corporation
Fanuc
ABB Ltd.
Stryker Corporation

Industrial Robotics Market & Volume

Automotive Industry and Forecast
Electrical and Electronics Industry and Forecast
Metal and Machinery Industry and Forecast
Plastic and Chemical Products
Food Industry and Forecast
Others

Service Robotics Market & Volume

Transportation & Logistics
Professional Cleaning
Medical Robotics
Hospitality
Agriculture & Field

For more information about this report visit https://www.researchandmarkets.com/r/3q1ztd

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