Introduction

The global market for robotics was valued at $67.9 billion in 2023 and is expected to grow significantly in the coming years. By 2029, the market is projected to reach $165.2 billion, with a compound annual growth rate (CAGR) of 16.1% from 2024 to 2029.

Market Scope

This study analyzes various types of robots, including 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.

Key Market Trends

The market growth outlook for robotics is strongly positive, with significant growth potential in the automotive, electrical and electronics, construction, healthcare, and defense segments. However, there is mounting pressure from end-user industries globally to reduce prices, improve features, efficiency, and operability of robotics, and maximize return on investment. Increasing investment in the modernization of production facilities in emerging markets is also contributing to market growth.

Major Players

Key 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.

Market Drivers and Dynamics

The report analyzes the key drivers and regional dynamics of the market, along with current industry trends. The base year for the study is 2023, with projections for the years 2024 through 2029, including forecasts of the CAGR for the forecast period.

Report Highlights

• 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, including ABB, Kawasaki Heavy Industries Ltd., Fanuc Corp., Lockheed Martin, and Yaskawa Electric Corp.

Conclusion

The global robotics market is poised for significant growth in the coming years, driven by advancements in technology and increasing demand across various industries. For more information, visit the full report at ResearchAndMarkets.com.

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