New Delhi, Dec. 09, 2024 (GLOBE NEWSWIRE) — The global robotics market was valued at US$ 45.44 billion in 2024 and is projected to reach US$ 154.04 billion by 2033 at a CAGR of 14.5% during the forecast period 2025–2033.
The robotics market is entering a transformative era, driven by rapid technological advancements, increasing adoption across industries, and robust investment activity. As of 2023, the global operational stock of industrial robots reached 4,281,585 units, reflecting a significant rise in deployment. Asia leads the charge, with China installing 276,288 robots, accounting for over half of global demand. Europe and the Americas are also witnessing steady growth, with Germany installing a record 28,355 robots and the U.S. maintaining its position as the largest market in the Americas with 37,587 installations. Beyond manufacturing, industries like logistics, healthcare, and agriculture are embracing robotics, with logistics in North America driving automation in handling operations and Germany’s metal processing sector seeing notable adoption. These trends highlight the growing reliance on robotics to enhance productivity and efficiency across diverse sectors.
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Investment in robotics market is surging, signaling strong confidence in the sector’s future. In just 12 weeks of 2024, robotics startups secured $748.9 million in funding, with March alone seeing $642 million invested across 37 firms. Notable funding rounds include Physical Intelligence raising $400 million, Path Robotics securing $100 million, and Third Wave Automation receiving $27 million. Corporate giants like Tesla and Boston Dynamics are heavily investing in humanoid robotics and autonomous vehicles, while governments worldwide are introducing supportive policies, such as the U.S. CHIPS and Science Act and similar initiatives in the EU, Japan, and Korea. These efforts are fostering public-private partnerships, creating a robust innovation ecosystem. Robotics investments are also driving economic growth, with studies showing that industrial robots have contributed to GDP growth across 17 countries.
The future of robotics market is bright, with advancements in generative AI, collaborative robots, and humanoid robotics paving the way for groundbreaking applications. While challenges like job displacement exist, robotics is creating high-paying roles in design, programming, and maintenance. With its ability to revolutionize industries, enhance productivity, and attract substantial investments, the market is poised to become a cornerstone of global economic growth in the coming years.
Key Findings in Robotics Market
| Market Forecast (2033) | US$ 154.04 billion |
| CAGR | 14.5% |
| Largest Region (2024) | Asia Pacific (35.4%) |
| By Component | Hardware (44.7%) |
| By Application | Industrial (45.1%) |
| By Industry | Manufacturing (20.0%) |
| By Robot Type | Industrial Robots (35.5%) |
| Top Drivers |
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| Top Trends |
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| Top Challenges |
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Sales Performance Across Robotics Market Categories
- Professional Service Robots: Sales increased by 30% worldwide, with over 205,000 units sold in 2023.
- Transportation and Logistics Robots: A 35% increase in sales, with nearly 113,000 units sold.
- Hospitality Robots: Sales grew by 31%, with more than 54,000 units sold.
- Agricultural Robots: Sales increased by 21%, with almost 20,000 units sold.
- Professional Cleaning Robots: The market grew by 4%, with nearly 12,000 units sold.
- Medical Robots: Sales increased by 36% to around 6,100 units, including a remarkable 128% increase in rehabilitation and non-invasive therapy robots.
Integration of Advanced Technologies is Propelling Robotics Market Forward
The robotics industry is experiencing unprecedented growth, driven by significant technological advancements across multiple fronts. One of the most impactful developments is the integration of Generative AI, which is revolutionizing the sector. The global market for Generative AI in robotics is projected to skyrocket from $1.16 billion in 2023 to an impressive $23.44 billion by 2033, boasting a remarkable CAGR of 35%. This surge is fueled by the technology’s ability to enhance robot learning capabilities, with AI-powered robots demonstrating the ability to learn new tasks up to five times faster than conventionally programmed counterparts. Moreover, these advanced robots have shown a 25% increase in efficiency through real-time movement optimization and environmental adaptation. The rapid adoption of this technology is evident in the healthcare sector, where the use of Generative AI-powered collaborative robots is expected to grow by over 40% annually.
The development of humanoid robots represents another frontier in robotics market innovation, with China leading the charge. The country has set ambitious goals to establish a humanoid robot innovation system and achieve mass production by 2025. Substantial investments are backing these initiatives, including a 1 billion RMB (approximately $140 million) investment in Humanoid Robots (Shanghai) Limited for the development of the Qinglong robot. Beijing has also announced a $1.4 billion robotics fund to promote domestic technology development. These efforts are expected to yield significant economic impact, with China’s humanoid robot market projected to reach 75 billion Yuan by 2029, accounting for 32.7% of the global market. These advancements in humanoid robotics, combined with the progress in Generative AI and task-specific AI models, are collectively propelling the robotics industry towards a future of unprecedented growth and innovation.
Global Robotics Adoption Soars: Regional Leaders and Industry-Specific Growth Insights for 2024
The robotics market is witnessing unprecedented growth, with the global operational stock of industrial robots reaching 4,281,585 units in 2023—a 10% increase from the previous year. Asia continues to dominate, accounting for 70% of all new robot installations in 2023. China leads globally with 276,288 units installed, representing 51% of global demand, driven by investments in the electrical/electronics and automotive sectors. Europe contributed 17% of global installations, with a 9% increase to 92,393 units in 2023. Germany, leading Europe, installed a record 28,355 units, a 7% rise from 2022. The Americas maintained a steady installation rate of over 50,000 units for the third consecutive year, accounting for 10% of global installations. Despite a 5% decline, the United States remained the largest market in the region, with 37,587 robots installed.
Industry-specific adoption further highlights the versatility of robotics market. The automotive sector remains a key driver, contributing 32% of all robot installations in Germany and 33% in the United States in 2023. The electronics industry is also a major adopter, particularly in Asia, where it dominates robotics demand in China. Other sectors are rapidly increasing adoption; in Germany, the metal processing industry saw notable growth in robot installations, while in North America, the logistics sector is driving automation demand, particularly in handling operations. Additionally, healthcare is emerging as a key sector for robotics deployment, alongside agriculture and professional cleaning solutions. These trends highlight the broadening scope of robotics applications across industries globally, reinforcing their critical role in driving efficiency, productivity, and innovation.
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Robotics Investment Surges in 2024: Key Developments, Job Impacts, and Sector Trends
The robotics market is experiencing a strong resurgence in investment activity in 2024, with notable contributions from venture capital and corporate funding. Over a 12-week period, startups in robotics, automation, and computer vision secured $748.9 million in funding. March 2024 alone saw investments totaling $642 million across 37 robotics firms. Highlighting this momentum, Physical Intelligence raised $400 million in early-stage funding, achieving a valuation of $2 billion. Path Robotics secured $100 million in venture capital, while Third Wave Automation raised $27 million in Series C funding. Picnic also received $5 million in its latest round of investment. On the corporate front, companies like Tesla and Boston Dynamics are heavily investing in humanoid robotics and autonomous vehicles. Governments are equally supportive, with the U.S. enacting measures like the CHIPS and Science Act and the Inflation Reduction Act to bolster domestic robotics technology. Similar initiatives in the EU, Japan, and Korea aim to further stimulate robotics innovation, with public-private partnerships fostering collaboration to drive advancements in the field.
Beyond funding, robotics investments are significantly impacting productivity and employment. Studies reveal that industrial robots have contributed to a 0.36% annual GDP growth across 17 countries in the robotics market, enhancing labor productivity and operational efficiency. However, the adoption of robotics has a dual effect on jobs. While some low-skilled roles have been displaced, new high-paying opportunities in designing, programming, and maintaining robotics systems are on the rise. Industries like automotive have seen significant productivity gains but have also experienced job displacement in routine manual roles. Concerns about job losses, particularly among lower and middle-income workers, highlight the importance of policy interventions to ensure equitable distribution of robotics’ benefits. These trends underscore the transformative potential of robotics investments in shaping the global economy.
Global Robotics Market Key Players:
- ABB LTD
- Blue Ocean Robotics
- Denso Corporation
- Fanuc Corporation
- Fetch Robotics, Inc.
- Honeywell International Inc.
- Kawasaki Robotics
- Kuka AG
- Mitsubishi Electric Corporation
- Motorola Solutions, Inc.
- Omron Corporation
- RoboAds
- Seiko Epson Corporation
- Simbe Robotics, Inc.
- Yaskawa Electric Corporation
- Other Prominent Players
Key Segmentation:
By Component
- Hardware
- Actuators & Controllers
- Camera
- Sensors
- Infrared Detectors
- Speakers & Microphones
- Power Systems
- Others
- Software (Robotic operating system)
- Services
- Consulting & Training
- Design and Maintenance
- Robots as a Service (Managed service)
By Robot Type
- Industrial Robots
- Articulated Robots
- SCARA
- Cobots
- Autonomous Mobile Robots (AMRs)/ Automated Guided vehicles (AGVs)
- Others
- Delivery Robots
- Drones/UAVs
- Humanoids
- Medical Robots
- Exoskeleton
- Others
By Application
- Industrial (Process Automation)
- Welding
- Painting
- Assembly
- Transport
- Commercial
- Mobility
- Security
- Cleaning
- Inspection
- Medical/ Surgery
- Training & Learning
- Emergency Response (rescue operations)
- Residential (Personal Service)
- Companionship
- Entertainment
- Medical/ Physical Assistance
- Education
- Communication/ Telepresence
- Security
- Public/ Social
- Smart Cities
- Emergency Response/ Disaster Management
By Industry
- Manufacturing
- Retail
- Education
- Enterprises
- Household
- Healthcare
- Warehouse & Logistics
- Media & Entertainment
- Mining, Oil & Gas
- Energy & Utility
- Agriculture
- Travel & Tourism
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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