Report Highlights
The global market for robotics was valued at $67.9 billion in 2023. The market is expected to grow from $78.4 billion in 2024 to $165.2 billion by the end of 2029, at a compound annual growth rate (CAGR) of 16.1% from 2024 to 2029.
Report Includes
- 72 data tables and 64 additional tables
- An updated review of the global markets for robotics technologies
- Analysis of global market trends, featuring revenue data for 2023, estimates for 2024, forecasts for 2025 and 2027, and projected CAGRs through 2029
- Evaluation of the current market’s size and revenue growth prospects, along with a market share analysis by type of robot, robot-performed task, application, and region
- Assessment of market drivers, restraints and opportunities, including key enabling technologies, and a look at the impact COVID-19 has had on the robotics industry
- Discussion of technology developments, R&D efforts, installed base, branding and partnerships
- Insight into the competitive landscape, and regulatory and legislative issues
- Evaluation of patent activity
- Profiles of the leading global manufacturers of robotic parts and technologies. Key players include ABB, Kawasaki Heavy Industries Ltd., Fanuc Corp., Lockheed Martin and Yaskawa Electric Corp.
Report Scope
The scope of this study encompasses an analysis of various types of robots, which include whole robots, robot parts, robot software and devices and materials. It also examines different applications of robotics, such as manufacturing, healthcare, defense, food processing, chemical and fuel processing, government, education and research, building maintenance, domestic household, agriculture, and construction, among others. It further analyzes the key drivers and regional dynamics of the market, along with current industry trends. The report concludes by providing detailed profiles of the major vendors in the market. The base year for the study is 2023 and projections for the years 2024 through 2029 are included, along with forecasts of the CAGR for the forecast period.
The report provides an overview of the robotics market, focusing on its key components and driving factors. It explores the hardware and software aspects of the market and analyzes the solutions provided by different companies. It further includes a regional analysis, examining the current and future factors influencing the deployment of robotics in North America, Europe, Asia-Pacific and Rest of the World (including Latin America, the Middle East and Africa).
Report Synopsis
| Report Metrics | Details | ||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Base year considered | 2023 | ||||||||||||||||||||||||||
| Forecast period considered | 2024-2029 | ||||||||||||||||||||||||||
| Base year market size | $67.9 billion | ||||||||||||||||||||||||||
| Market size forecast | $165.2 billion | ||||||||||||||||||||||||||
| Growth rate | CAGR of 16.1% from 2024 to 2029 | ||||||||||||||||||||||||||
| Units considered | $ Millions | ||||||||||||||||||||||||||
| Segments covered | By Robot Type, Application, Robot-Performed Task, and Region | ||||||||||||||||||||||||||
| Regions covered | North America, Europe, Asia-Pacific and Rest of the World (including Latin America, the Middle East and Africa) | ||||||||||||||||||||||||||
| Key Market Drivers |
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| Companies studied |
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Frequently Asked Questions (FAQs)
- By Robot Type.
- By Application.
- By Robot-Performed Tasks.
- By Region.
Analyst Credentials
Austin Samuel – Consultant-Technology Research
Austin Samuel is an experienced professional with nearly a decade of industry experience in research and analysis, specializing in Information Technology. He has conducted extensive research and provided comprehensive syndicate and custom reports on the developments and application of information technology across multiple industries for international and domestic clients. He exhibits exceptional analytical abilities and strategic thinking and has contributed significantly to the team. Academically, Austin holds a master’s degree in Marketing and IT and a bachelor’s degree in Electrical and Electronics.
Consulting Editor’s Credentials
Andrew McWilliams has over 40 years’ experience in marketing strategy and research with top consulting firms like Kearney and EY, and as an independent consultant. He has been a BCC Research contributor for over 20 years. Mr. McWilliams has a BA from Princeton University and an MA from Harvard University. He resides in the greater Boston area.
Report Highlights
The global market for robotics is estimated to increase from $55.8 billion in 2021 to $91.8 billion by 2026, at a compound annual growth rate (CAGR) of 10.5% during the forecast period of 2021-2026.
Report Includes
- 34 data tables and 36 additional tables
- An updated review of the global markets for robotics technologies
- Analyses of the global market trends, with data from 2020, estimates for 2021, and projections of compound annual growth rates (CAGRs) through 2026
- Evaluation and forecast the global robotics market size, and corresponding market share analysis by type of robot, robot-performed task, product group, technology, end-use industry, and geographic region
- In-depth information (facts and figures) concerning market drivers, restraints and other forces affecting the progress of this market
- Assessment of major market drivers and opportunities estimating current and future demand for robotic products, and key enabling technologies, and COVID-19 impact on the robotics industry
- Discussion of key technology developments, latest trends, and other influential factors such as research-and-development capability, installed base, branding, and ecosystem influence and partnerships
- Information on upcoming market opportunities and areas of focus to forecast this market into various segments and sub-segments
- Insight into recent industry structure, current competitive scenario, R&D activities, and regulatory and legislative issues currently focused on robotics industry ecosystem
- Review of robotics-related patent activity, recent re-issued U.S. patents, and a look into the technologically significant robotic patents
- Descriptive company profiles of the leading global manufacturers of robotic parts and technologies. Major players in the market, include ABB Group, FANUC Corp., Kawasaki Heavy Industries Ltd., KUKA AG, Mitsubishi Electric Corp., Rockwell Automation Inc., Robert Bosch GmbH, Siemens AG, and Yaskawa Electric Corp.
Report Highlights
The global robotics market should reach $64.0 billion by 2023 from $38.1 billion in 2018 at a compound annual growth rate (CAGR) of 10.9% for the period 2018-2023.
Report Includes
- 84 data tables and 34 additional tables
- An overview of recent key developments in the global market for robotics technologies and a look ahead at the next five years
- Analyses of global market trends with data from 2017 to 2018, and projections of compound annual growth rates (CAGRs) through 2023
- Coverage of market data by various segments such as robot types, end-uses, robot-performed task, types of product, application industries and geographical regions, including North America, APAC, EU and other emerging economies
- Study of impact analysis and discussion of technological, regulatory and economic trends that are affecting the robotics technologies’ market
- Evaluation of the market’s competitive dynamics, including critical success factors such as research-and-development capability, installed base, branding, and ecosystem influence and partnerships
- Company profiles of leading manufacturers and suppliers of robotics technologies, including ABB Group, Hitachi Ltd., Panasonic, Samsung, SICK Inc., Toyota Motor Corp. and Yamaha Robotics
Report Highlights
The global robotics market reached nearly $24.9 billion in 2015. The market should reach over $25.9 billion and $31.5 billion in 2016 and 2021 respectively, increasing at a compound annual growth rate (CAGR) of 4.0% from 2016 to 2021.
Report Includes
- An overview of recent key developments in the global market for robotics and a look ahead at the next five years.
- Analyses of global market trends, with data from 2015, 2016, and projections of compound annual growth rates (CAGRs) through 2021.
- A review of the history of the robotics industry, and of the six basic types of robots: industrial, domestic service, professional service, security, space, and military.
- Examination of the basic technology and components (e.g., power supplies, end effectors) that are required on all types of robots.
- Discussion of the broader economic, national policy, and industrial development issues that support, and in some cases, impede the adoption of robotic technology.
- A developmental perspective of the robotics industry, as documented by its patent history.
- Profiles of major players in the industry.
Report Highlights
The market for whole robots, robot parts, robot software, and related safety materials now approaches $22 billion. BCC Research forecasts it will rise at a five-year compound annual growth rate (CAGR) of 5.9% between 2013 and 2018, when it’s expected to surpass $29 billion.
Report Includes
- An overview of recent key developments in the global market for robotics and a look ahead at the next five years
- Analyses of global market trends, with data from 2011 and 2012, estimates for 2013, and projections of compound annual growth rates (CAGRs) through 2018
- A review of the history of the robotics industry, and of the six basic types of robots: industrial, domestic service, professional service, security, space, and military
- Examination of the basic technology and components (e.g., power supplies, end effectors) that are required on all types of robots
- Discussion of the broader economic, national policy, and industrial development issues that support, and in some cases, impede the adoption of robotic technology
- A developmental perspective of the robotics industry, as documented by its patent history
- Comprehensive company profiles of major players in the industry.
Report Highlights
The global demand for robots and robot-related products was worth around $21 billion in 2010. The market is expected to grow to nearly $22 billion in 2011 and $30 billion by 2016, a compound annual growth rate (CAGR) of 6.7% between 2011 and 2016.
Report Highlights
- The global robotics industry was worth $17.3 billion in 2008 and an estimated $17.6 billion in 2009. This should reach $21.4 billion in 2014, for a compound annual growth rate (CAGR) of 4.0%.
- The industrial robots segment is the largest segment, worth $11.5 billion in 2008. This is expected to decrease slightly to $10.5 billion in 2009, and then grow at a CAGR of 2.8% to reach $12.1 billion in 2014.
- Professional service robots is the second largest segment, generating $3.3 billion in 2008. This should increase to $4.0 billion in 2009 and $5.4 billion in 2014, for a CAGR of 6.0%.
Report Highlights
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By 2007, the robotics market will be a $16 billion industry.
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Great gains will be seen in the realm of nanopositioning robotic tools.
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Robots that perform hazardous and tedious duties will see extremely attractive growth rates.
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Autonomous mechanical creatures will find their way into current environments.
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