WESTFORD, Mass., April 25,
2024 /PRNewswire/ -- The growing need for automation,
technological developments, and long-term cost reductions are
driving a robust expansion in the worldwide robotics
market. SkyQuest projects that Global Robotics Market size is
poised to grow from USD 41.50 Billion
in 2023 to USD 126.96 Billion by
2031, at a CAGR of 15% during the forecast period (2024-2031).
Download a detailed overview:
https://www.skyquestt.com/report/robotics-market
Browse in-depth TOC on the "Robotics Market"
- Pages - 202
- Tables - 64
- Figures - 75
Robotics Market Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
$41.50
billion
|
Estimated Value by
2031
|
$126.96
billion
|
Growth Rate
|
Poised to grow at a
CAGR of 15%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Application, End Users,
and Region
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, and the Rest of the world
|
Report
Highlights
|
Collaborative
Robotics
|
Key Market
Opportunities
|
Prompting Several
Industries to Adopt Automation Technologies
|
Key Market
Drivers
|
Increasing Demand for
Automation
|
Surge of Automation is Supporting Growth of Robotics
Industry
The industrial sector is generating high revenues for the global
robotics market owing to extensive automation in manufacturing,
which increases productivity and lowers overall production costs.
Assembly line, painting, and welding robots have become essential,
thereby propelling substantial market expansion in the automotive,
electronics, and heavy duty sectors. Due to the increased usage of
robots for non-manufacturing functions such as customer service,
shipping, and healthcare, the services sector is expanding quickly.
This rapid growth is being driven by technological improvements and
the push for automation in services.
Surge in Advance Robotics is Bolstering Market Growth
The use of robotics in manufacturing processes is
growing, and innovation in this field is happening quickly
worldwide. By increasing productivity, efficiency, and precision,
advanced robotics technologies—such as AI-driven automation systems
and collaborative robots, or cobots—are transforming the
manufacturing sector. The dominance of manufacturing in the
worldwide robotics market is fuelled by the integration of robotics
into manufacturing facilities, which helps businesses remain
competitive in today's dynamic market scenario.
Rising Interest in Service Robotics is Driving Demand for
Robotics in Asia Pacific
Due to the strong demand for industrial and service robots in
the region, Asia Pacific now leads
the global robotics industry. China, Japan,
and South Korea are among the
nations that have made significant investments in the robotics
sector recently. The Middle East
and Africa are anticipated to
register the fastest-growing rate for the global robotics market.
The expansion is ascribed to the region's growing adoption of
automation technology, especially in the manufacturing and
logistics industries.
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Drivers:
- Increasing Demand for Automation
- Advancements in AI and Machine Learning
Technologies
Restraints:
- High Initial Investments
- Lack of Skilled Workforce
Prominent Players in Global Robotics Market:
- FANUC America Corporation (US)
- Epson Robotics (Japan)
- Staubli International AG (Switzerland)
- YRG Inc. (US)
- Comau S.p.A. (Italy)
- Northrop Grumman Corporation (US)
- Honda Motor Co., Ltd. (Japan)
- Seiko Epson Corporation (Japan)
- Yamaha Motor Co., Ltd. (Japan)
- Adept Technology, Inc. (US)
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/robotics-market
Key Questions Answered in Global Robotics Market
Report
- How big is the global robotics market, and what compound annual
growth rate (CAGR) is it anticipated to deliver between 2024 and
2031?
- Which industries are fuelling the need for automation and
fostering the expansion of the robotics sector?
- What impact have recent technological advancements and
innovations had on the direction of the robotics market?
- Which well-known companies in the robotics industry are also
major players in the global robotics market?
This report provides the following insights:
- Analysis of key drivers (increasing demand for automation
across industries, improved the overall efficiency, productivity of
the processes, demand for automation), restraints (high initial
investments, difficult for small and medium-sized enterprises to
invest, robots, sensors, and other equipment required not
delivered), opportunities (advancements in AI and machine learning
technologies, new opportunities for the robotics market, perform
complex tasks with high accuracy), and challenges (lack of skilled
workforce, maintenance of these robotics systems) influencing the
growth of robotics market
- Market Penetration: Comprehensive information on the product
portfolios offered by the top players in the robotics market
- Product Development/Innovation: Detailed insights on the
upcoming trends, R&D activities, and product launches in the
robotics market
- Market Development: Comprehensive information on lucrative
emerging regions
- Market Diversification: Exhaustive information about new
products, growing geographies, and recent developments in the
market
- Competitive Assessment: In-depth assessment of market segments,
growth strategies, revenue analysis, and products of the leading
market players.
Related Reports:
Global Service Robotics Market
Global Soft Robotics Market
Global Warehouse Robotics Market
Global Cloud Robotics Market
Global Robotic Welding Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and
Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization have expanded our
reach across North America,
Europe, ASEAN and Asia
Pacific.
Contact:
Mr. Jagraj
Singh
Skyquest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/
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SOURCE SkyQuest Technology