Dublin, Nov. 15, 2023 (GLOBE NEWSWIRE) — A recent market research report titled “Global Robotics Market, Volume, Size, Forecast 2023-2030, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis” indicates significant growth potential for the global robotics market in the coming years. The report projects that the market, which was valued at US$ 40.43 billion in 2022, is expected to reach US$ 231.85 billion by 2030 at a compound annual growth rate (CAGR) of 24.4%.
The driving factors behind this projected growth include the expansion of energy-efficient drive systems, increasing competition among industries to adopt advanced technology and automation, and significant investment in the robotics sector. The rise of Industry 4.0 and digitization has also played a crucial role in the adoption of robotics and automated solutions in various sectors, such as manufacturing and production processes.
The automotive industry, in particular, has witnessed significant growth in the use of industrial robots. The demand for robots in this industry is fueled by the growing popularity of electric vehicles (EVs), which require specialized robotic capabilities for welding, painting, and assembly. By automating tasks, industrial robots not only help manufacturers save money but also enhance safety through planned and sensor-equipped operations.
Another sector where robotics is gaining traction is the medical industry. Medical robots are being increasingly used for minimally invasive treatments, routine monitoring for patients with chronic conditions, intelligent therapies, and social interaction for the elderly. The rise in surgical procedures aided by medical robots has led to rapid product innovation in this market segment.
Geographically, the report highlights the dominance of the United States in the North American robotics market, attributed to its long-standing history of innovation, significant market size, and the presence of leading robotics companies. In Europe, Germany is at the forefront of robotics adoption, as businesses utilize robotics to reduce costs due to rising labor prices. China leads the robotics market in the Asia-Pacific region, with a highly skilled labor force and government support through funding programs and incentives.
What is the projected growth rate of the global robotics market?
The global robotics market is projected to grow at a compound annual growth rate (CAGR) of 24.4% from 2022 to 2030, reaching a value of US$ 231.85 billion.
Which industries are driving the growth of the robotics market?
The automotive industry and the medical industry are the key drivers of growth in the robotics market. The automotive industry is adopting robots for tasks such as welding, painting, and assembly, while the medical industry is utilizing robots for minimally invasive treatments, patient monitoring, and surgical procedures.
Which countries dominate the global robotics market?
The United States leads the robotics market in the North American region, while Germany dominates in Europe. China holds a significant share of the robotics market in the Asia-Pacific region due to its skilled labor force and government support.
What are the benefits of adopting robotics in industries?
Adopting robotics in industries brings several benefits, including improved productivity, cost savings through automation, enhanced safety through planned and sensor-equipped operations, and the ability to perform complex tasks with precision and speed.