The global robotics market value was US$ 15519.5 million in 2021. The global robotics market value is forecast to reach US$ 140150.9 million by 2030, growing at a compound annual growth rate (CAGR) of 27.7% during the forecast period from 2022 to 2030.
The study of robotics is limited to the use of robotics for disinfection, shelf scanning, RFID scanning, delivery, security and inspection, and advertising for businesses. It is the role of disinfection robots to disinfect surfaces around them. Inventory management also involves shelves scanning and RFID scanning robots. Furthermore, delivery robots transport goods and packages from one place to another. Additionally, security & inspection robots monitor the surroundings of a facility, both indoors and out. Advertising robots interact with potential customers to advertise products.
Factors Influencing Market Growth
The increasing adoption of automation for commercial purposes is primarily driving the global robotics market.
Security, inspection, and delivery robots are in high demand in the commercial market because of their efficiency and low operating costs. Ultimately, this factor drives the robotics industry worldwide.
Due to the continuous rise in demand for robotics, R&D continues to expand to create new technologies and introduce efficient robots. The robotics industry participates in a number of exhibitions to secure funding from investors and industry leaders to further develop their technology. Such initiatives may create lucrative opportunities for the global market's growth.
Hardware and software for robots are expensive. As a result, the initial cost of deploying robots is high. A robot's high cost is not affordable for smaller and medium-sized businesses. The lack of an operating system on several robots makes them ineligible for commercial use. These factors may slow down the growth of the global robotics market.
Impact Analysis of COVID-19
The COVID-19 pandemic was adversely affected the global industry. Due to the lockdown imposed by government manufacturers had ceased operations and limited operations. Production and transportation activities had hindered due to the global supply chain problem. Due to this, the demand for robotic systems in the market declined. As a result, the robotics market experienced limited growth during COVDI-19. However, the demand for robots such as delivery robots and disinfection robots has grown significantly. The market is experiencing balance with the upswing.
On the other hand, manufacturing and services are slowly resuming. As a result, robotics companies are forecast to re-launch at full capacity, which will help the robotics market to recover during the forecast period.
Regional Insight
Europe held dominance in the robotics market. There have also been substantial sales of interactive entertainment robots, educational robots, industrial robots, and service robots in Europe. With the increasing adoption in industrial and domestic space and the development of cutting-edge robotics technology, the European robotics market is growing.
Leading Competitors
The leading prominent companies profiled in the global robotics market are:
Blue Ocean Robotics
Brain Corporation
Fetch Robotics, Incorporated
Honeywell International Incorporated
Motorola Solutions, Incorporated
RoboAds Incorporated
Siemens AG
Simbe Robotics, Incorporated
SMP Robotics Systems Corporation
Xenex Disinfection Services Incorporated
Other Prominent Players
Scope of the Report
The global robotics market segmentation focuses on Application, End-User, and Region.
Segmentation based on Application
Disinfection
Shelf scanning
RFID Scanning
Delivery
Security & Inspection
Advertising
Segmentation based on End-User
Automotive
Retail
Healthcare
Electronic
Others
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
RELATED REPORT
Global Non-volatile Memory Express (NVMe) Market By Product...
Global Loyalty Management Market By Component (Software, Services);...
Global Data Center Fire Detection and Suppression Market...
Global Data Center Interconnect Market By Component Type...
Global Industrial Internet of Things Market By software...
Global Industrial Ethernet Market By Offering (Hardware, Software,...
Global Perimeter Intrusion Detection Systems Market By Deployment...
Global Smart Manufacturing Platforms Market By Type (Device...
Global Carrier WiFi Market Development Strategy Pre and...
Global Lead Acid Battery Recycling Market Development Strategy...
Global Engine Oils Market Development Strategy Pre and...
Global Casual Dining Market Development Strategy Pre and...
Global In-Store Logistics Systems Market Development Strategy Pre...
Global Veterinary Telemedicine Market Development Strategy Pre and...
Global Electronic Security Market Development Strategy Pre and...
