The robotics technology global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Robotics Technology Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The robotics technology market size has grown rapidly in recent years. It will grow from $85.37 billion in 2023 to $97.97 billion in 2024 at a compound annual growth rate (CAGR) of 14.8%. The growth in the historic period can be attributed to advances in sensor technologies, industrial automation and manufacturing needs, demand for efficiency and precision, growing interest in humanoid robots, growing number of investments and fundings in the field of technology.
The robotics technology market size is expected to see rapid growth in the next few years. It will grow to $170.64 billion in 2028 at a compound annual growth rate (CAGR) of 14.9%. The growth in the forecast period can be attributed to expansion of collaborative robotics, adoption of robotics in healthcare, increased use of drones and unmanned systems, growth in consumer robotics applications, integration of 5g technology in robotics. Major trends in the forecast period include technological innovations in artificial intelligence, development of soft robotics, robotics as a service (raas) models, emphasis on explainable ai in robotics, human-robot collaboration in various industries.
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Scope Of Robotics Technology Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The increasing shift towards automation is driving the growth of the robotic technology market. The increasing use of automation, artificial intelligence, and other technologies is altering how humans and machines interact. Many organizations have expanded automation to indicate that it will allow intelligent machines to make complex or mission-critical decisions. The use of automation is deployed across an enterprise and ecosystem to build a more adaptable business that can respond quickly and adopt new technological operating models. This shift towards automation from the traditional method has changed the market dynamics, leading to an increase in the adoption of robotics technology. For instance, in February 2022, according to the International Federation of Robotics, a Germany-based non-profit organization, there are 23,000 industrial robots operating in UK factories in 2021, an increase of 6% from the previous year. Therefore, the increasing shift towards automation will drive the robotics technology market going forward.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The robotics technology market covered in this report is segmented –
1) By Type: Industrial Robots, Mobile Robots, Service Robots, Other Types
2) By Component: Hardware, Software, Service
3) By End User: Aerospace Manufacturing, Agriculture, Automotive Manufacturing, Building Maintenance, Chemical and Fuel Processing, Construction, Consumer Products Manufacturing, Other End Users
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Regional Insights –
Asia-Pacific was the largest region in the robotics technology market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the robotics technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the robotics technology market report are Asea Brown Boveri Group (ABB), FANUC Corporation, Kawasaki Heavy Industries Ltd., KUKA AG, Mitsubishi Electric Corporation, Denso Corporation, Yaskawa Electric Corporation, Omron Corporation, Seiko Epson Corporation, Stäubli Robotics, Komatsu Ltd., Panasonic Corporation, Nachi-Fujikoshi Corp., Adept Technology Inc., NVIDIA Corporation, Anduril Industries, Boston Dynamics Inc., Diligent Robotics Inc., Intuitive Surgical Inc., Starship Technologies Inc., Nuro Inc., iRobot Corporation, Vecna Robotics Inc., Toshiba Corporation, AeroVironment Inc., Raytheon Technologies Corporation, Stryker Corporation, NEC Corporation, Ribbon Communications Operating Company Inc., ZTE Corporation
Table of Contents
1. Executive Summary
2. Robotics Technology Market characterstics
3. Robotics Technology Market Trends And Strategies
4. Robotics Technology Market – Macro Economic Scenario
5. Global Robotics Technology Market Size And Growth
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31. Global Robotics Technology Market Competitive Benchmarking
32. Global Robotics Technology Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Robotics Technology Market
34. Robotics Technology Market Future Outlook and Potential Analysis
35. Appendix
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