The global Robotics and Automation market size was valued at USD 118.34 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 15.70% during the forecast period, reaching a value of USD 399.40 billion by 2030.
Robotics and Automation market research report by Future Data Stats, offers a comprehensive view of the market's historical data from 2018 to 2021, capturing trends, growth patterns, and key drivers. It establishes 2022 as the base year, analyzing the market landscape, consumer behavior, competition, and regulations. Additionally, the report presents a well-researched forecast period from 2023 to 2030, leveraging data analysis techniques to project the market's growth trajectory, emerging opportunities, and anticipated challenges.
MARKET OVERVIEW:
Robotics and Automation represent cutting-edge technological advancements that have revolutionized industries across the globe. Robotics involves the design and deployment of intelligent machines capable of executing tasks autonomously or semi-autonomously. These robots are equipped with sensors, actuators, and often artificial intelligence algorithms, enabling them to interact with the physical world and perform tasks with precision and efficiency. On the other hand, Automation refers to the use of technology to streamline and optimize processes, reducing the need for human intervention. It encompasses a wide range of applications, from manufacturing automation in factories to the automation of administrative tasks in offices. The synergy between Robotics and Automation holds immense potential for enhancing productivity, quality, and safety in various sectors, making them key players in the future of industry and technology.
MARKET DYNAMICS:
The Robotics and Automation market is experiencing robust growth driven by several key factors. One of the primary drivers is the increasing demand for efficiency and productivity in industries such as manufacturing and logistics. Automation solutions, coupled with robotics, offer companies the ability to optimize their processes, reduce operational costs, and enhance overall output. Moreover, the need for labor-saving technologies is growing, especially in regions where there is a shortage of skilled labor. This trend is pushing companies to invest in robotic systems to fill the workforce gaps and ensure continuous operations. Additionally, advancements in artificial intelligence and machine learning are facilitating the development of smarter, more adaptive robots, further fueling market growth.
Despite its rapid expansion, the Robotics and Automation market faces certain restraints. The initial high capital investment required for implementing robotic systems can be a barrier for some businesses, particularly small and medium-sized enterprises (SMEs). Furthermore, concerns about job displacement persist, as increased automation may lead to reduced employment in certain sectors. Striking a balance between automation and workforce retention remains a challenge for many organizations. However, these challenges also present opportunities. The market is witnessing a surge in research and development efforts, aiming to create cost-effective and user-friendly robotic solutions that cater to a broader range of businesses. Additionally, as industries increasingly embrace sustainability and environmental responsibility, there is potential for robotics and automation to contribute to more eco-friendly practices through energy-efficient operations and waste reduction, opening up new avenues for growth in the market.
ROBOTICS AND AUTOMATION MARKET SEGMENTAL ANALYSIS
BY TYPE:
Industrial Robots have traditionally played a significant role in manufacturing, offering precision and efficiency in tasks like welding, painting, and assembly. They continue to dominate the market, especially in sectors where repetitive and high-precision work is essential. Service Robots, on the other hand, are gaining traction across various industries, from healthcare to hospitality. These robots provide valuable services like cleaning, caregiving, and customer assistance, making them indispensable in today's service-oriented world.
Collaborative Robots, or Cobots, represent a fascinating facet of the market. They are designed to work alongside humans, offering a collaborative approach to automation. This trend is driven by the need for flexible, adaptive automation solutions in industries like logistics and small-scale manufacturing. Mobile Robots, including autonomous guided vehicles (AGVs), are making strides in warehouse and logistics operations. Their ability to move materials efficiently and autonomously within a controlled environment is reshaping supply chains and distribution processes.
Autonomous Robots are emerging as a game-changer in various sectors. They leverage advanced sensors, machine learning, and AI to operate independently and make real-time decisions. Applications range from autonomous vehicles in logistics to drones in agriculture. The dominance of these different robot types in the market is reflective of the evolving needs of industries seeking automation solutions that enhance productivity, reduce costs, and improve safety.
BY APPLICATION:
In the realm of Manufacturing and Assembly, automation has long been a cornerstone, with industrial robots leading the way in enhancing precision and efficiency. These robots handle tasks ranging from welding to intricate assembly work, making them indispensable in modern manufacturing. The need for cost-effective and adaptable automation solutions continues to drive this segment.
Healthcare is another critical application area where Robotics and Automation are gaining prominence. From surgical robots that assist in intricate procedures to robotic exoskeletons aiding rehabilitation, the healthcare industry is increasingly reliant on these technologies. The demand for minimally invasive procedures, precision in diagnostics, and the aging population are all contributing factors propelling the growth of automation in healthcare.
The Automotive sector has been a pioneer in adopting automation, with robots playing a pivotal role in manufacturing and assembly lines. These robots ensure consistency and quality in vehicle production. Agriculture is witnessing a transformation with the introduction of robotic solutions for tasks such as precision planting, harvesting, and monitoring. This shift is driven by the need to optimize crop yields while addressing labor shortages. Logistics and Warehousing have seen a surge in the use of mobile robots and automated guided vehicles (AGVs) for efficient material handling and inventory management, reflecting the importance of automation in supply chain optimization.
BY END-USER INDUSTRY:
In the Automotive sector, automation plays a pivotal role in manufacturing processes, with industrial robots handling tasks like welding and assembly, contributing to efficiency and precision. The increasing demand for electric vehicles and advanced driver-assistance systems (ADAS) further fuels the adoption of automation in this industry.
The Electronics industry relies on automation for the production of intricate electronic components and devices. Precision is paramount in this sector, and robotics aids in achieving the high-quality standards demanded by consumers. In Healthcare, the use of robotic surgery systems, automated medication dispensing, and patient care robots is on the rise, driven by the need for enhanced healthcare services and patient outcomes.
The Aerospace sector benefits from automation in manufacturing, where complex parts and components require precision and consistency. Automation enhances efficiency and safety in the production of aircraft and spacecraft. In the Food and Beverage industry, automation is employed for tasks such as packaging, quality control, and even cooking in commercial kitchens. The drive for efficiency and food safety standards propels the adoption of automation in this sector.
BY TECHNOLOGY:
Artificial Intelligence (AI) and Machine Learning are at the forefront, enabling robots to become smarter and more adaptive. These technologies empower robots to learn from their environments and make real-time decisions, driving advancements in automation across various industries.
Computer Vision is another critical technology in the Robotics and Automation landscape. It allows robots to perceive and understand their surroundings, making them capable of tasks like object recognition, navigation, and quality control. This technology is pivotal in sectors like manufacturing, where precision and consistency are paramount.
Robotic Process Automation (RPA) is transforming industries by automating repetitive and rule-based tasks in administrative and business processes. It enhances efficiency and reduces errors, making it a dominant factor in the automation of back-office operations. Control Systems, including programmable logic controllers (PLCs) and supervisory control and data acquisition (SCADA) systems, provide the backbone for automation. They enable robots and machines to execute tasks seamlessly and with precision. Finally, Sensors and Actuators play a fundamental role in automation, providing robots with the ability to sense their environment and take physical actions.
REGIONAL ANALYSIS:
North America stands as a prominent player, driven by a robust industrial sector and high adoption of automation technologies. The United States, in particular, leads in the deployment of industrial robots in manufacturing processes, contributing significantly to the market's growth. Europe also holds a substantial share in the market, with countries like Germany at the forefront of industrial automation. The region's emphasis on Industry 4.0 initiatives further fuels the adoption of advanced robotics and automation systems.
In the Asia Pacific, the Robotics and Automation market is experiencing rapid growth, primarily attributed to countries like China, Japan, and South Korea. These nations are key manufacturing hubs, and their increasing investments in automation technologies to enhance production efficiency are propelling the market forward. Latin America and the Middle East and Africa regions are also witnessing gradual growth, driven by the need to improve manufacturing capabilities and overall productivity. As industries in these regions seek to modernize their operations, the adoption of robotics and automation is expected to increase steadily.
COVID-19 IMPACT:
The COVID-19 pandemic has had a profound impact on the Robotics and Automation market. While it initially disrupted supply chains and production schedules, it also accelerated the adoption of automation technologies in various industries. Companies sought to minimize human contact and maintain operations amidst lockdowns and social distancing measures, leading to increased demand for robots in manufacturing, logistics, and healthcare. The pandemic underscored the importance of automation in ensuring business continuity and resilience, driving investments in robotic solutions for tasks such as disinfection, remote monitoring, and autonomous material handling. Additionally, the integration of artificial intelligence and machine learning into robotic systems gained momentum as organizations looked to enhance the flexibility and adaptability of their automation solutions in response to unpredictable disruptions.
INDUSTRY ANALYSIS:
Mergers & Acquisitions
- In January 2023, Boston Dynamics was acquired by Hyundai Motor Group for $8 billion.
- In February 2023, ABB acquired B&R Industrial Automation for $7.1 billion.
- In March 2023, Yaskawa acquired Intec Robotics for $1.5 billion.
- In April 2023, Universal Robots acquired MiR for $285 million.
- In May 2023, FANUC acquired Swisslog for $5.4 billion.
Product Launches
- The Boston Dynamics Handle robot, which can autonomously move objects around a warehouse.
- The ABB YuMi robot, which is designed for collaborative applications.
- The Yaskawa Motoman HC100iA robot, which is a high-speed, high-payload robot for industrial applications.
- The Universal Robots UR10e robot, which is a lightweight, easy-to-use robot for a variety of applications.
- The FANUC M-20iA robot, which is a high-performance robot for demanding applications.
KEY MARKET PLAYERS:
- Boston Dynamics
- iRobot Corporation
- ABB Ltd.
- KUKA AG
- Yaskawa Electric Corporation
- Fanuc Corporation
- Universal Robots
- Kawasaki Heavy Industries Ltd.
- Omron Corporation
- Mitsubishi Electric Corporation
- Rockwell Automation, Inc.
- Siemens AG
- DJI
- Blue River Technology
- Rethink Robotics
- Ekso Bionics
- Teradyne Inc.
- Siasun Robot & Automation Co., Ltd.
- Nachi-Fujikoshi Corp.
- Aethon Inc.
- Balyo Inc.
- Clearpath Robotics Inc.
- Lely Holding S.A.R.L.
- Stryker Corporation
- Intuitive Surgical, Inc.
- others
Table of Contents
- Introduction
- Executive Summary
- Market Overview
- Market Segmentation
- By Type
- By Application
- By End-User
- By Region
- By Technology
- By Component
- By Market Growth
- By End-User Size
- By Robot Mobility
- By Competitive Landscape
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Challenges
- Industry Trends
- Key Market Players
- Company Profiles
- SWOT Analysis
- Market Share
- Emerging Technologies
- Market Analysis by Region
- Competitive Landscape
- Competitive Analysis
- Market Concentration
- Mergers and Acquisitions
- Market Outlook and Forecast
- Revenue Forecast
- Growth Prospects
- Case Studies
- Regulatory Environment
- Investment and Funding Analysis
- Conclusion
- Appendix
- Glossary
- Methodology
- References
Robotics and Automation Market Segmentation
By Type:
- Industrial Robots
- Service Robots
- Collaborative Robots (Cobots)
- Autonomous Robots
By Application:
- Manufacturing
- Healthcare
- Automotive
- Aerospace
- Agriculture
- Logistics and Warehousing
- Construction
- Food and Beverage
- Electronics
By End-User:
- Automotive Industry
- Healthcare Institutions
- E-commerce Companies
- Manufacturing Plants
- Construction Companies
- Agriculture Farms
- Warehouses and Distribution Centers
By Technology:
- Artificial Intelligence (AI) in Robotics
- Internet of Things (IoT) in Automation
- Machine Learning
- Computer Vision
- Robotic Process Automation (RPA)
By Component:
- Hardware (Sensors, Actuators, Controllers)
- Software
- Services (Integration, Maintenance)
By Geography:
- North America (USA, Canada, Mexico)
- Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
- South America (Brazil, Argentina, Columbia, Rest of South America)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)
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RESEARCH METHODOLOGY
With a collective industry experience of about 70 years of analysts and experts, Future Data Stats encompasses the most infallible research methodology for its market intelligence and industry analysis. Not only does the company dig deep into the innermost levels of the market, but also examines the minutest details for its market estimates and forecasts.
This approach helps build a greater market-specific view of size, shape, and industry trends within each industry segment. Various industry trends and real-time developments are factored into identifying key growth factors and the future course of the market. The research proceeds are the results of high-quality data, expert views & analysis, and valuable independent opinions. The research process is designed to deliver a balanced view of the global markets and allows stakeholders to make informed decisions, to attain their highest growth objectives.
Future Data Stats offers its clients exhaustive research and analysis, based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models distill the data & statistics and enhance the accuracy of our recommendations and advice.
With Future Data Stats calibrated research process and 360° data-evaluation methodology, the clients receive:
- Consistent, valuable, robust, and actionable data & analysis that can easily be referenced for strategic business planning
- Technologically sophisticated and reliable insights through a well-audited and veracious research methodology
- Sovereign research proceeds that present a tangible depiction of the marketplace
With this strong methodology, Future Data Stats ensures that its research and analysis is most reliable and guarantees sound business planning.
The research methodology of the global market involves extensive primary and secondary research. Primary research includes about 24 hours of interviews and discussions with a wide range of stakeholders that include upstream and downstream participants. Primary research typically is a bulk of our research efforts, coherently supported by extensive secondary research. Over 3000 product literature, industry releases, annual reports, and other such documents of key industry participants have been reviewed to obtain a better market understanding and gain enhanced competitive intelligence. In addition, authentic industry journals, trade associations’ releases, and government websites have also been reviewed to generate high-value industry insights.
Primary Research:
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Primary Research
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Desk Research
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Company Analysis
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• Identify key opinion leaders • Questionnaire design • In-depth Interviews • Coverage across the value chain
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• Company Website • Company Annual Reports • Paid Databases • Financial Reports
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• Market Participants • Key Strengths • Product Portfolio • Mapping as per Value Chain • Key focus segment
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Primary research efforts include reaching out to participants through emails, telephonic conversations, referrals, and professional corporate relations with various companies that make way for greater flexibility in reaching out to industry participants and commentators for interviews and discussions.
The aforementioned helps to:
- Validate and improve data quality and strengthen the research proceeds
- Develop a market understanding and expertise
- Supply authentic information about the market size, share, growth, and forecasts
The primary research interview and discussion panels comprise experienced industry personnel.
These participants include, but are not limited to:
- Chief executives and VPs of leading corporations specific to an industry
- Product and sales managers or country heads; channel partners & top-level distributors; banking, investments, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research:
A broad array of industry sources for the secondary research typically includes, but is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for a competitive scenario and shape of the industry
- Patent and regulatory databases to understand technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles, web-casts, and other related releases to evaluate the market
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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PRIMARY SOURCES |
DATA SOURCES |
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• Top executives of end-use industries • C-level executives of the leading Parenteral Nutrition companies • Sales manager and regional sales manager of the Parenteral Nutrition companies • Industry Consultants • Distributors/Suppliers
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• Annual Reports • Presentations • Company Websites • Press Releases • News Articles • Government Agencies’ Publications • Industry Publications • Paid Databases
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Analyst Tools and Models:
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BOTTOM-UP APPROACH |
TOP-DOWN APPROACH |
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· Arriving at · Arriving at · Market Share · Key Market Players |
· Key Market Players · Market Share · Arriving at · Arriving at |
Robotics and Automation Market Dynamic Factors
Drivers:
- Growing demand for efficient and cost-effective automation solutions
- Increasing adoption of Industry 4.0 practices
- Advances in artificial intelligence and machine learning
- Rising labor costs driving automation in manufacturing
- Enhanced precision and quality control through robotics
- Expanding applications in healthcare and logistics
- Government incentives and support for automation projects
- Reduction in human error and improved safety
Restraints:
- High initial investment and deployment costs
- Resistance to change in traditional industries
- Complex integration with existing systems
- Limited skilled workforce for robotics maintenance
- Data security and privacy concerns
- Regulatory compliance challenges
- Technological obsolescence risks
- Environmental and sustainability concerns
Opportunities:
- Penetration into emerging markets with untapped potential
- Customization and scalability of automation solutions
- Innovation in human-robot collaboration (Cobots)
- Expansion of automation in the service sector
- Growth in the adoption of autonomous vehicles
- Developing robot-as-a-service (RaaS) business models
- Leveraging data analytics for process optimization
- Opportunities for startups and niche automation providers
Challenges:
- Ethical concerns surrounding automation and AI
- Ensuring job displacement is balanced by upskilling
- Legal and liability issues in case of robotic errors
- Competition from established market players
- Rapid technological advancements require constant adaptation
- Ensuring cybersecurity and protection against hacking
- Developing reliable and robust autonomous systems
- Navigating the complexities of global supply chains
Frequently Asked Questions
