The latest research study "Robotics Technology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that the global robotics technology market size reached US$ 78.75 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 155.52 Billion by 2027, exhibiting a growth rate (CAGR) of 11.30% during 2022-2027.
Robotics technology usually involves the fusion of advanced technologies and engineering disciplines, such as computer science, mechanical engineering, electronics, electrical engineering, etc., to produce machines, also called robots, that resemble human beings. It aims to create intelligent devices that enhance the performance of organizations and deliver better results. An AI robot can mimic human behavior or be a robot application, including robotic process automation (RPA), which simulates how humans interact with software to accomplish repetitive and rules-based tasks. It offers various benefits, such as increased productivity, streamlined processes, greater workplace safety, etc. Robotics technology allows for a reduction in operational costs and a high return on investment.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Robotics Technology Market Trends and Drivers:
The widespread adoption of robots in several industries, such as automotive, manufacturing, food and beverage (F&B), consumer electronics, etc., on account of the escalating demand for customized business operation solutions, is primarily driving the robotics technology market. Additionally, the increasing penetration of high-speed internet, extensive R&D activities, and the inflating levels of industrialization are further catalyzing the market growth. Besides this, the growing utilization of robotics technology in parenteral nutrition, telesurgery, and disabled patient care in the healthcare sector is acting as another significant growth-inducing factor. Moreover, the introduction of machine learning (ML), artificial intelligence (AI), industrial internet of things (IIoT), and human-machine interface technology and the rising popularity of robotics for monitoring, bomb dispersal, mine detection, etc., are also positively influencing the global market. Apart from this, continuous improvements in inventive, energy-efficient, and cost-effective robots are anticipated to fuel the robotics technology market over the forecasted period.
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Robotics Technology Market 2022-2027 Analysis and Segmentation:
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 Ltd., DENSO Corporation, FANUC Corporation, Kawasaki Heavy Industries Ltd., KUKA AG (Midea Group), Mitsubishi Electric Corporation, OMRON Corporation, Seiko Epson Corporation, Stäubli International AG and Yaskawa Electric Corporation.
The report has segmented the market on the basis of component, robot type and application.
Breakup by Component:
- Hardware
- Software
- Services
Breakup by Robot Type:
- Traditional Industrial Robots
- Cobots
- Professional Service Robots
- Others
Breakup by Application:
- Manufacturing
- Healthcare
- Aerospace and Defence
- Media and Entertainment
- Logistics
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter's Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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