Report Overview

Global Robotics Market - Industry Trends & Forecast Report 2028

The global robotics market was worth USD 31.2 billion in 2021 and is further projected to reach USD 135.8 billion by the year 2028, exhibiting a CAGR of 23.40% during the forecast period. The global robotics market is flourishing at a high rate owing to the increasing adoption of robots among various verticals and industries to decrease their labor cost and boost their revenue. Furthermore, rapid technological advancements in this domain, rising safety regulations, along increasing adoption by SMEs, are anticipated to drive the robotics market in the forecast period.

Robotics – A Brief Overview

Robotics is a branch of computer science that specifically focuses on designing and developing robots. These robots are mainly designed to assist humans in certain tasks. Robotics create these robots to replicate human actions and can be used in actions that may prove lethal for humans, such as bomb detection, radioactive materials, etc. In robotics, these robots are designed to mimic human actions and can be used for safe and lethal purposes, such as bomb detection, radioactive material detection, etc. The robots often replicate human acts, such as walking, speech, lifting, cognition, etc. Therefore, they can be used in a wide range of applications including military, industrial, construction, agricultural, etc.

Robotics Market Forecast and Trends

Growth Drivers

Increasing Adoption in Medical and Healthcare Industry

Robotics is gaining significant traction in the medical and healthcare industry. The robots are mostly used for surgical operations since they carry out surgeries with better precision as well as allow remote surgery, which ensures the prevention of hospital-acquired infections in both surgeons as well as patients. Furthermore, rehabilitation robots are also making space for themselves in the healthcare industry as it facilitates and supports the lives of infirm and elderly people and those with dysfunctional body parts.

Extensive Research and Development Activities

The industry players are significantly investing in research and development activities to innovate their products. Along with robotics, OEMs, several private and public research institutes are also significantly allotting their resources to robotics. For instance, engineering researchers from North Carolina State University recently demonstrated a new type of flexible, robotic grippers that are able to lift delicate egg yolks without breaking them, with high precision to lift a human hair. Such developments are anticipated to present lucrative growth opportunities to the market in the forecast period.

Restraints

High Initial Investment Involved in Robotics Integration

The adoption of robotics is still highly concentrated among large enterprises and manufacturers only. In addition to the initial cost of integrating and setting up robots, there are many costs that follow, such as maintenance costs, cost of replacement components, etc. It is estimated that operations and maintenance of robots can cost around USD 10,000 annually, which can prove to be a huge financial burden, especially for small and medium-sized businesses.

Impact of COVID-19 on the Global Robotics Market

The COVID-19 pandemic negatively impacted the growth of the robotics market during the initial outbreak. This is because of the restrictions on industrial operations, due to which the demand for robots plunged from the manufacturing and other sectors such as military and automotive. Furthermore, R&D activities were also temporarily halted to focus on the development of healthcare infrastructure. The adoption of robots, however, has played a significant role in the recovery of the medical industry, since they can help prevent the spread of diseases.

Global Robotics Market - By Type

Based on types, the global robotics market is segmented into industrial and service. The industrial robots segment holds the largest market share as these robots are prominently used in the manufacturing sector. These types of robots are designed to perform certain complicated and mundane tasks including welding, painting, assembly and disassembly, product inspection, and testing, with high endurance, speed, and precision. However, service robots are projected to witness the highest CAGR during the forecast period owing to the increasing adoption in the medical and healthcare industry.

Robotics Market - By End-User

Based on end-users, the robotics market is segmented into automotive, food & beverage, electronics, logistics, military and defense, medical & healthcare, and others. The automotive industry dominates the robotics market as they are in use in this sector since the 1960s. The use of robots in the automotive industry helps manufacturers control the high cost of manual labor in operations. It also helps in boosting the overall productivity along with keeping the speed and quality consistent.

Global Robotics Market - Regional Insights

Geographically, the global robotics market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. The Asia-Pacific region is projected to witness the highest growth rate during the forecast period owing to the flourishing manufacturing sector in emerging economies and rising automation in this industry in countries such as China, India, Japan, etc. The application of robotics is gaining significant traction in the automobile industry in this region as well due to the need for high precision in the manufacturing of certain components.

Global Robotics Market - Competitive Landscape

The leading players in the global robotics market are KUKA, ABB Ltd., Boston Dynamics, iRobot Corporation, Universal Robots, Yaskawa Electric Corporation, FANUC, Omron Adept Technology, Inc., Stäubli, EPSON Robots, Intuitive Surgical, Inc., Comau, Rethink Robotics, Rockwell Automation, Inc., Stryker Corporation, Nachi Robotic Systems Inc., Staubli International AG, Panasonic Corporation, Kawasaki Heavy Industries Ltd., and other prominent players.

The global robotics market is extremely competitive due to the presence of several regional and multinational industry participants. The companies significantly invest in R & D activities to develop and innovate their offerings to suit the requirements of various industry verticals. They also constantly focus on expanding their product portfolio to boost their market revenue. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.

Recent Development

• In January 2022, Blue Origin, a leading aerospace company, announced its intention to acquire Honeybee Robotics, a robotic asteroid mining startup. The deal is expected to close by mid-February.
• In January 2022, Electric Sheep Robotics, a US-based industrial automation company, announced it have raised USD 21.5 million in Series A funding.

Scope of the Report

By Type

• Industrial
• Service

By End-User

• Industrial

1. Automotive
2. Food and Beverage
3. Electronics
4. Others

• Service

1. Logistics
2. Military and Defense
3. Medical and Healthcare
4. Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Key Market Segments
2. Research Methodology
   1. Qualitative Research
   2. Methodology
   3. Regional Split of Primary & Secondary Research
   4. Secondary Research
   5. Primary Research
      1. Breakdown of Primary Research Respondents, By Region
      2. Breakdown of Primary Research Respondents, By Industry Participants
   6. Market Size Estimation
   7. Assumptions for the Study
   8. Market Breakdown & Data Triangulation
3. Executive Summary
4. Industry Insight and Growth Strategy
   1. Value Chain Analysis
   2. DROC Analysis
      1. Market Drivers
         1. Increasing Adoption in Medical And Healthcare Industry
         2. Extensive Research and Development Activities And Innovations
      2. Market Restraints
         1. High Initial Investment Involved In Robotics Integration
      3. Market Challenges
         1. Negative Impact of the COVID-19 Pandemic Outbreak
      4. Market Opportunity
         1. Increasing Safety Regulations of the Workers
         2. Rising Adoption Of Advanced Technologies
   3. Recent Developments
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Buyers
      2. Bargaining Power of Suppliers
      3. Intensity of Rivalry
      4. Threat of New Entrants
      5. Threat of Substitutes
5. Robotics Market Overview
   1. Market Size & Forecast by Value, 2018-2028
   2. Market Size and Forecast, By Segment
      1. By Type
         1. Industrial
         2. Service
      2. By End-User
         1. Industrial
            1. Automotive
            2. Food and Beverage
            3. Electronics
            4. Others
         2. Service
            1. Logistics
            2. Military and Defense
            3. Medical and Healthcare
            4. Others
      3. By Region
         1. North America
         2. Europe
         3. Asia-Pacific
         4. Latin America
         5. Middle East & Africa
6. North America Robotics Market Overview
   1. Market Size and Forecast
      1. By Value (USD Billion), 2018-2028
   2. Market Share and Forecast
      1. By Type
      2. By End-User
      3. By Country
         1. US
         2. Canada
7. Europe Robotics Market Overview
   1. Market Size and Forecast
      1. By Value (USD Billion), 2018-2028
   2. Market Share and Forecast
      1. By Type
      2. By End-User
      3. By Country
         1. Germany
         2. UK
         3. Russia
         4. France
         5. Italy
         6. Spain
         7. Rest of Europe
8. APAC Robotics Market Overview
   1. Market Size and Forecast
      1. By Value (USD Billion), 2018-2028
   2. Market Share and Forecast
      1. By Type
      2. By End-User
      3. By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Rest of APAC
9. LATAM Robotics Market Overview
   1. Market Size and Forecast
      1. By Value (USD Billion), 2018-2028
   2. Market Share and Forecast
      1. By Type
      2. By End-User
      3. By Country
         1. Mexico
         2. Brazil
         3. Rest of LATAM
10. MEA Robotics Market Overview
    1. Market Size and Forecast
       1. By Value (USD Billion), 2018-2028
    2. Market Share and Forecast
    3. By Type
    4. By End-User
    5. By Country
       1. Saudi Arabia
       2. UAE
       3. South Africa
       4. Rest of MEA
11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis (2021)
    3. Competitive Benchmarking by Operating Parameters
12. Impact of COVID-19 on Robotics Market
13. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
    1. KUKA
    2. ABB Ltd.
    3. Boston Dynamics
    4. iRobot Corporation
    5. Universal Robots
    6. Yaskawa Electric Corporation
    7. FANUC
    8. Omron Adept Technology, Inc.
    9. Stäubli
    10. EPSON Robots
    11. Intuitive Surgical, Inc.
    12. Comau
    13. Rethink Robotics
    14. Rockwell Automation, Inc.
    15. Stryker Corporation
    16. Nachi Robotic Systems Inc.
    17. Staubli International AG
    18. Panasonic Corporation
    19. Kawasaki Heavy Industries Ltd
    20. Other Prominent Players
14. Key Strategic Recommendations

List of Figures

Figure 1: Robotics Market Segmentation

Figure 2: Robotics Market Value Chain Analysis,

Figure 3: Company Market Share Analysis, 2021

Figure 4: Robotics Market Size, By Value (USD Billion), 2018-2028

Figure 5: Robotics Market Share (%), By Type, By Value, 2018-2028

Figure 6: Robotics Market Share (%), By End-User, By Value, 2018-2028

Figure 7: Robotics Market Share (%), By Region, By Value, 2018-2028

Figure 8: North America Robotics Market Size, By Value (USD Billion), 2018-2028

Figure 9: North America Robotics Market Share (%), By Type, By Value, 2018-2028

Figure 10: North America Robotics Market Share (%), By End-User, By Value, 2018-2028

Figure 11: North America Robotics Market Share (%), By Country, By Value, 2018-2028

Figure 12: Europe Robotics Market Size, By Value (USD Billion), 2018-2028

Figure 13: Europe Robotics Market Share (%), By Type, By Value, 2018-2028

Figure 14: Europe Robotics Market Share (%), By End-User, By Value, 2018-2028

Figure 15: Europe Robotics Market Share (%), By Country, By Value, 2018-2028

Figure 16: Asia-Pacific Robotics Market Size, By Value (USD Billion), 2018-2028

Figure 17: Asia-Pacific Robotics Market Share (%), By Type, By Value, 2018-2028

Figure 18: Asia-Pacific Robotics Market Share (%), By End-User, By Value, 2018-2028

Figure 19: Asia-Pacific Robotics Market Share (%), By Country, By Value, 2018-2028

Figure 20: Latin America Robotics Market Size, By Value (USD Billion), 2018-2028

Figure 21: Latin America Robotics Market Share (%), By Type, By Value, 2018-2028

Figure 22: Latin America Robotics Market Share (%), By End-User, By Value, 2018-2028

Figure 23: Latin America Robotics Market Share (%), By Country, By Value, 2018-2028

Figure 24: Middle East & Africa Robotics Market Size, By Value (USD Billion), 2018-2028

Figure 25: Middle East & Africa Robotics Market Share (%), By Type, By Value, 2018-2028

Figure 26: Middle East & Africa Robotics Market Share (%), By End-User, By Value, 2018-2028

Figure 27: Middle East & Africa Robotics Market Share (%), By Region, By Value, 2018-2028

List of Tables

Table 1: Robotics Market Size, By Type, By Value, 2018-2028

Table 2: Robotics Market Size, By End-User, By Value (USD Billion), 2018-2028

Table 3: Robotics Market Size, By Region, By Value (USD Billion), 2018-2028

Table 4: North America Robotics Market Size, By Type, By Value (USD Billion), 2018-2028

Table 5: North America Robotics Market Size, By End-User, By Value (USD Billion), 2018-2028

Table 6: North America Robotics Market Size, By Country, By Value (USD Billion), 2018-2028

Table 7: Europe Robotics Market Size, By Type, By Value (USD Billion), 2018-2028

Table 8: Europe Robotics Market Size, By End-User, By Value (USD Billion), 2018-2028

Table 9: Europe Robotics Market Size, By Country, By Value (USD Billion), 2018-2028

Table 10: Asia-Pacific Robotics Market Size, By Type, By Value (USD Billion), 2018-2028

Table 11: Asia-Pacific Robotics Market Size, By End-User, By Value (USD Billion), 2018-2028

Table 12: Asia-Pacific Robotics Market Size, By Country, By Value (USD Billion), 2018-2028

Table 13: Latin America Robotics Market Size, By Type, By Value (USD Billion), 2018-2028

Table 14: Latin America Robotics Market Size, By End-User, By Value (USD Billion), 2018-2028

Table 15: Latin America Robotics Market Size, By Country, By Value (USD Billion), 2018-2028

Table 16: The Middle-East & Africa Robotics Market Size, By Type, By Value (USD Billion), 2018-2028

Table 17: The Middle-East & Africa Robotics Market Size, By End-User, By Value (USD Billion), 2018-2028

Table 18: The Middle-East & Africa Robotics Market Size, By Country, By Value (USD Billion), 2018-2028

Table 19: KUKA Financial Analysis

Table 20: KUKA Business Overview

Table 21: ABB Ltd. Financial Analysis

Table 22: ABB Ltd. Business Overview

Table 23: Boston Dynamics Corporation Financial Analysis

Table 24: Boston Dynamics Corporation Business Overview

Table 25: iRobot Corporation Financial Analysis

Table 26: iRobot Corporation Business Overview

Table 27: Universal Robots Financial Analysis

Table 28: Universal Robots Business Overview

Table 29: Yaskawa Electric Corporation Financial Analysis

Table 30: Yaskawa Electric Corporation Business Overview

Table 31: FANUC Financial Analysis

Table 32: FANUC Business Overview

Table 33: Omron Adept Technology, Inc. Financial Analysis

Table 34: Omron Adept Technology, Inc. Business Overview

Table 35: Stäubli Financial Analysis

Table 36: Stäubli Business Overview

Table 37: EPSON Robots Financial Analysis

Table 38: EPSON Robots Business Overview

Table 39: Intuitive Surgical, Inc.  Financial Analysis

Table 40: Intuitive Surgical, Inc.  Financial Analysis

Table 41: Comau Financial Analysis

Table 42: Comau Financial Analysis

Table 43: Rethink Robotics Financial Analysis

Table 44: Rethink Robotics Financial Analysis

Table 45: Rockwell Automation, Inc. Financial Analysis

Table 46: Rockwell Automation, Inc. Financial Analysis

Table 47: Stryker Corporation Financial Analysis

Table 48: Stryker Corporation Financial Analysis

Table 49: Nachi Robotic Systems Inc. Financial Analysis

Table 50: Nachi Robotic Systems Inc. Financial Analysis

Table 51: Staubli International AG Financial Analysis

Table 52: Staubli International AG Financial Analysis

Table 53: Panasonic Corporation Financial Analysis

Table 54: Panasonic Corporation Financial Analysis

Table 55: Kawasaki Heavy Industries Ltd Financial Analysis

Table 56: Kawasaki Heavy Industries Ltd. Financial Analysis