As per the latest report by IMARC Group, titled “Robotics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on robotics market analysis. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global robotics market size reached US$ 39.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 102.4 Billion by 2028, exhibiting a growth rate (CAGR) of 17.58% during 2023-2028.
Robotics represents an interdisciplinary branch of artificial intelligence (AI) that deals with the designing, conception, operation, and manufacturing of robots. It involves various fields of mechanical and electrical engineering and computer science that focus on producing multifunctional, re-programmable industrial machines or robots which can be embedded with several high-tech devices, including tactile, visual, and audio sensors. Studies related to robotics promote industrial automation, facilitate convenience in operation, and reduce human errors. Consequently, they find extensive applications across numerous sectors, such as household, defense, healthcare, logistics, construction, entertainment, etc.
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Market Trends:
The shifting preferences toward innovative and high-quality robotic technologies in industries to streamline manufacturing, warehousing, and assembling operations are primarily driving the robotics market. Besides this, the expanding need for underwater robots, human-robot interaction, machine learning (ML), legged mobility, and self-driving vehicles is also positively influencing the market growth. Furthermore, the increasing cyber security threats and the inflating investments by leading market players in research and development (RD) activities to address the current vulnerabilities in robots connected with internal data systems and ensure safe, secure, and reliable production are acting as significant growth-inducing factors. In addition to this, the escalating adoption of AI and robotic technologies in the healthcare segment, on account of the growing requirement for surgical robots, and the elevating lab and pharmacy automation are further stimulating the global market. Apart from this, the rising demand for collaborative robots that can operate alongside humans and are considerably cheaper as compared to industrial counterparts is expected to propel the robotics market in the coming years.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- ABB Group
- KUKA AG
- FANUC Corporation
- Yaskawa Electric Corporation
Robotics Market Segmentation:
Our report has categorized the market based on region and product type.
Breakup by Product Type:
- Industrial
- Breakup by Type
- Articulated
- Cartesian
- SCARA
- Cylindrical
- Others
- Service
- Breakup by Type
- Personal and Domestic
- Professional
- Breakup by Application
- Household Applications
- Entertainment Applications
- Defence Applications
- Field Applications
- Logistics Applications
- Healthcare Applications
- Infrastructure Applications
- Mobile Platform Applications
- Cleaning Applications
- Others
- Breakup by Type
- Breakup by Type
Regional Insights:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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