The global robotics technology market size was valued at USD 78.84 billion in 2021. It is expected to reach USD 250.38 billion by 2030, growing at a CAGR of 13.7% during the forecast period (2022-2030). Robotics technology is a fusion of computer applications and machine tool designs created to carry out various tasks, including robot manufacturing, robot design, and other applications. Additionally, robotics technology benefits businesses in many ways, including boosting organizational efficiency, decreasing human error, automating the entire process, and improving job quality. Numerous industries use robotics technology, including healthcare, defense, aerospace, automotive, and infrastructure. Robots are employed in various tasks, including assembling goods, detecting and defusing bombs, surgery, product inspection, space missions, cleaning, and household chores. Additionally, robotics technology is being used by many businesses around the world to efficiently complete time-consuming and repetitive tasks. Further, manufacturers favor process automation due to rising labor costs and the need to boost productivity, fueling the market's expansion.
The robotics technology market is expanding because of the rising demand for automation, increased organizational safety, and the advent of reasonably priced, energy-efficient robots. Rising labor and energy expenses and increased use of robotics technology across various industry verticals contribute to the market's expansion. However, the high initial cost of the robots and SMEs' lack of awareness limit the market's growth. Furthermore, it is anticipated that rising robotics technology acceptance in emerging nations and its use in harmful applications will create profitable prospects for the market's expansion.
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Increasing Need for Automation and Safety in Firms and Availability of Energy Efficient Robots
Automation has been in great demand. To cut costs, save time, and produce goods of higher quality, businesses are automating their production processes. Because of the intense competition in the global market, companies are automating their operations to improve quality and boost productivity. The employees' workload is reduced due to the automation of internal processes, and the robots collaborate to increase productivity. As a result of strict safety rules, businesses are already using robots in hazardous locations. Prior until now, the automotive industry was the only industry that automated manufacturing processes. Healthcare, defense and security, aerospace, and the food and beverage industries now use robotics.
Players are also developing low-cost, high-quality robots as the rivalry in the global market heats up. Technological breakthroughs make developing new innovative items possible while retaining product affordability. The most current robot developments are purpose-built, energy-efficient machines. Since these robots are inexpensive, small and medium-sized firms are more likely to embrace them. To meet unique needs, these robotic solutions are geared toward SMEs. Additionally, several manufacturing industries worldwide are implementing energy-efficient robots to help their workers complete crucial jobs without interruption.
Cost of Implementation
Companies are hesitant to employ robotics because of the high installation costs and integration skills needed for the initial setup of robots. Because high-quality hardware and a powerful software control system are combined to create robotic systems, there is a high initial investment and ongoing maintenance expense. Heavy manufacturing companies are the only ones who can deploy robotics due to the high initial costs. The automotive sector makes extensive use of robotic systems. Due to the expensive setup and maintenance requirements, SMEs are reluctant to use robotic systems.
The Increasing Adoption in Emerging Countries
Emerging economies are gradually embracing robotics technology. The Robotics technology market is anticipated to help these economies expand quickly and boost their manufacturing capacity. The infrastructure of these economies is further improved through robotics in healthcare, agriculture, and food and beverage. These nations' economies provide the market tremendous room for expansion. Additionally, developing countries' use of artificial intelligence (AI) robots in various areas, including manufacturing and agriculture, presents a profitable opportunity for the industry.
Emerging economies are gradually embracing robotics technology. Robotics technology is anticipated to help these economies expand quickly and boost their manufacturing capacity. The infrastructure of these economies is further improved through robotics in healthcare, agriculture, and food and beverage. These nations' economies provide the market tremendous room for expansion. Additionally, developing countries' use of artificial intelligence (AI) robots in various areas, including manufacturing and agriculture, presents a profitable opportunity for the industry.
The global robotics technology market is segregated based on the components, type of robots, application, and region.
Based on the component, the categories include Hardware, Software, and Services.
The hardware section is likely to hold the largest share, growing at a CAGR of 12.6%. A robot's fundamental hardware components consist of sensors, controllers, effectors, a power supply, and actuators. The robot's hardware components are tailored to provide specialized services based on its tasks. Sensors allow robots to gather information about their environments and surroundings. Robots use microphones to detect sounds and respond appropriately.
Furthermore, the quality and performance of a robot are determined by its components. Companies can create tight and compact features due to technological advancements, allowing consumers to save money and space. Market vendors have developed small and compact components that enhance the performance of robotic systems.
The service section will most likely hold the second-largest share. The application of services guarantees the software's efficient operation and process-wide transparency and control. Professional and managed services are included in the robotics technology services. The companies provide robotics technology services throughout the entire product lifecycle. The company provides training services upon the initial sale of its products. In addition to offering maintenance and consulting services, businesses also provide other services. Companies offer data backup and condition assessment services to increase the longevity of robots.
Based on the type of robots, the categories include Traditional Industrial Robots, Cobots, Professional Service Robots, and Others.
The traditional industrial robot section will likely hold the largest market share, growing at a CAGR of 9.75%. Industrial robots are robotic systems intended for use in manufacturing. Industrial robots are utilized for welding, machine maintenance, assembly, painting, ironing, inspection, pick-and-place, and testing. An industrial robot is a multifunctional manipulator with varied programmed motions and artificial intelligence mainly used in manufacturing. Industrial robots possess a mechanical arm, the ability to respond to sensory inputs, the capacity to communicate with other machines, and the capacity to make decisions. Industrial robots are utilized for arc and spot welding, assembly, molding, material handling, picking, packaging, spray painting, coating, and laser cutting, among other applications.
The professional service robot section will hold the second-largest market share. Service robots are semi-autonomous or fully autonomous machines that assist humans with various personal and professional tasks. Personal robots are utilized for home surveillance, entertainment, education, and other domestic jobs. They are used in the professional aerospace, defense, and healthcare industries. These robots contribute to the reduction of human labor. Service robots are primarily employed for personal and professional responsibilities. Governments invest substantially in developing service robots, allowing businesses to introduce new, innovative products. Service robots are mainly utilized in the healthcare and medical industries.
Based on the application, the categories include Healthcare, Defense & Security, Automotive, Aerospace, Infrastructure, Industrial and Residential.
The manufacturing section will likely hold the largest share, growing at a CAGR of 13.15%. Robots perform various tasks in the manufacturing industry, such as painting, welding, finishing, and assembly. To assess the well-being of vehicles, dangerous crash tests are performed by robots instead of humans. Manufacturing companies use robots to save money and increase output. Increased labor costs, new safety regulations, more stringent emission requirements, and rising consumer trends are the driving forces behind the market expansion. Using robots enables manufacturers to achieve high quality, dependability, economic efficiency, and lower product life cycle costs in the manufacturing industry.
The other section will hold the second-largest share. This segment includes the food and beverage, plastics, disaster management, foundry, infrastructure, and agriculture industries. Governments executing disaster management rescue operations employ robots. They are responsible for rescuing individuals, distributing food, and providing services. In the food and beverage industry, industrial robots aid in packaging food to prevent bacterial and viral contamination. Robots aid the construction of heavy structures and the demolition of buildings in the infrastructure sector.
The region-wise segmentation of the global robotics technology market includes North America, Europe, Asia-Pacific, and LAMEA.
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The Asia Pacific will command the market while expanding at a CAGR of 14.61% during the forecast period. Asia-Pacific dominates the industrial robot market due to rapid automation expansion and active research & development in several nations, including Japan, China, India, Australia, and Taiwan. In recent years, the markets for mobile robotics in China and Japan have seen tremendous expansion. The increased requirement for robots for security and surveillance is what's behind the jump in demand. Many industries, including aerospace, defense, automotive, healthcare, energy, mining, and agriculture, use robotics in the Asia-Pacific region. Robots make caregiving easier for the elderly and disabled, expanding service robotics applications. More businesses are investing in robotics to cut production costs, workforce, and cost-of-production time.
Due to the dominance of the automobile industry in the region, there has been a surge in demand for robot welding and painting applications. Increased market investment by the automotive sector is anticipated. Due to China's more significant labor expenses than North America, more businesses are utilizing robotics. Due to the development in automation potential in these nations, nations like Taiwan and India are drawing in foreign robotic players. However, the region's robotics business faces challenges due to high initial installation costs and a shortage of experienced laborers and engineers.
Europe is envisioned to grow at a CAGR of 10.2% and hold USD 29,208 million by 2030. Germany has the most robots installed in Europe due to the automotive industry's substantial investments, but Europe has many robots. It is anticipated that the economies of Spain, France, and Italy will be the slowest to adopt robotics due to their burdensome regulations. Europe dominates the market for service robotics. Due to the increased security needs of European citizens and the monitoring of everyday environments, robots are primarily utilized in the European security sector. Teleoperated mobile robots contribute to the safety of bomb disposals. Robotics are used extensively in space exploration, search and rescue, manufacturing, defense, and security applications.
However, there is some resistance to using robots to care for children and the elderly. The market for robot-related software and system integration is robust in Europe. In Europe, robotics is unequally distributed. Germany, Finland, Italy, and Sweden are the top four nations in robot density. Asia's low-wage labor poses a threat to Europe's manufacturing sector. The increased use of automation bolsters the region's ability to defend its manufacturing capacity. The rise of startups in Europe contributes to the expansion of industrial robotics. European market growth is accelerated by the presence of small and medium-sized businesses. Large numbers of SMBs on the market present numerous untapped opportunities.
List of key robotics technology market manufacturers profiled