The robotics market is assessed for a significant rise during the upcoming period. Growing factory and home automation would drive the market growth. Market Research Future (MRFR) confirms that the global robotics market is poised to escalate from USD 50.96 BN in 2022 to USD 214.60 BN by 2030, growing at a 22.80% CAGR throughout the review period (2022-2030).
Besides, the increasing adoption of robotics in small and medium-sized enterprises is a key market driver. Growing investments in the development of technology boost the robotics market size. Also, advances in production technologies and the modernization of industrial facilities substantiate the robotics market revenues. The spike in demand for industrial robots accelerates market shares.
Robotics innovators and developers secure funds from investors and industries to create cutting-edge technologies. These innovations are expected to aid in efficiently operating and commercializing robotics. Moreover, increasing commercial applications and modifications in robotic systems are major tailwinds for the growth of the market.
Leading robotics market players are
- Kawasaki Heavy Industries Ltd. (China)
- Universal Robots A/S (Denmark)
- BOSTON DYNAMICS (US)
- Nachi-Fujikoshi Corp (Japan)
- iROBOT Corporation (US)
- ABB Limited (Switzerland)
- Mitsubishi Electric Corporation (Japan)
- Sony Corporation (Japan)
- Honda Motor Co. Ltd (Japan)
- Kuka AG (Germany)
- Northrop Grumman Corporation (US)
- Omron Corporation (Japan)
- Yaskawa Electric Corporation (Japan)
- FANUC Corporation (Japan)
- Denso Corporation (Japan), among others.
Global Robotics Market - Segments
The Robotics market is segmented into types, mobility, end-users, and regions. The type segment is sub-segmented into cartesian, SCARA, articulated, cylindrical, parallel, and others. The mobility segment is sub-segmented into fixed robots and mobile robots. The end-user segment is sub-segmented into medical, entertainment, field, logistics, defense, public safety, manufacturing, and others. By region, the robotics market is segmented into the Americas, Asia-Pacific, MEA, Europe, and the rest of the world.
Global Robotics Market - Regional Analysis
The Asia-Pacific region dominates the global robotics market. Increasing technological advancements and rising home automation projects drive market growth. Also, favorable government policies for the development of robotics and enhanced focus on economic diversification positively define the growing robotics market landscape.
Growing industrial automation and the spurring rise in manufacturing sectors across the region influence the robotics market revenues. Japan, China, and India are thriving markets for Robotics due to the rapid economic growth in these countries. The impactful economies of industrial manufacturing are major driving forces behind market growth.
Global Robotics Market - Competitive Analysis
Highly competitive, the robotics market appears fragmented due to the presence of many well-established players. These players initiate strategic approaches such as acquisition, partnership, collaboration, expansion, and product/ technology launches to gain a competitive advantage in this market.
Industry/ Innovation /Related News:
Aug. 29, 2023 -- Japanese startup GITAI announced that it has raised an additional US$15 million for its lunar robotics technology development project. In addition to enabling the company to continue the development of space robotics systems, the funding will ensure its expansion in the US market. The new funding will also help the company expand its U.S. workforce and increase cooperation with government agencies and companies interested in its robotic technologies.
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