Top Robotics Global Market Report 2024

Top robotics, in the context provided, is not a standard term or widely recognized term in the field of robotics. However, based on the description, it seems to refer to a category of robotics that involves the development of both industrial and service robots. These robots are characterized as being digitized, highly programmable, and capable of moving across more than three dimensions.

The primary types of top robotics mentioned are top industrial robots and top service robots. Industrial robots are designed to automate intensive production tasks, typically found on continuously moving assembly lines, freeing humans from repetitive tasks. These tasks may include handling, welding, soldering, assembling and disassembling, dispensing, and more. These industrial robots find applications in various sectors such as automotive, electrical, chemical, food & beverages, and others. The term 'top' in this context may imply a high level of capability, sophistication, or prominence in the field of robotics.

The top robotics market research report is one of a series of new reports that provides top robotics market statistics, including top robotics industry global market size, regional shares, competitors with a top robotics market share, detailed top robotics market segments, market trends and opportunities, and any further data you may need to thrive in the top robotics industry. This top robotics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The top robotics market size has grown exponentially in recent years. It will grow from $106.7 billion in 2023 to $129.42 billion in 2024 at a compound annual growth rate (CAGR) of 21.3%. The growth observed during the historical period can be attributed to several factors, including an increasing emphasis on reducing human error, government initiatives promoting the adoption of robotics, a surge in demand for industrial robots, a rising usage of robots in both industrial and domestic sectors, and the challenges posed by labor shortages.

The top robotics market size is expected to see rapid growth in the next few years. It will grow to $267.68 billion in 2028 at a compound annual growth rate (CAGR) of 19.9%. The anticipated growth in the forecast period can be attributed to several factors, including the growing demand for cleaning robots, government support to address worker shortages, the growth of e-commerce and logistics, an increasing use of robots in healthcare, and a focus on sustainability with an aim to reduce carbon footprints. Key trends expected during this period encompass the adoption of collaborative robots (cobots), advancements in artificial intelligence (AI), the expansion of industrial automation, the development of humanoid and social robots, and the emergence of robotics as a service (RaaS).

The growth of the top robotics market is anticipated to be propelled by the increased use of robots in the logistics sector in the coming years. Logistics involves the comprehensive process of acquiring, storing, and transporting assets to their final destinations. The integration of robotics in logistics offers benefits such as remote monitoring, reduced logistics costs, faster cargo preparation, and enhanced delivery precision. In 2021, approximately 121,000 professional service robots were sold, with a notable 23% increase in sales of medical robots to 14,823 units, as reported by the International Federation of Robotics. This surge in robotic utilization within the logistics sector is a significant driver for the growth of the top robotics market.

The burgeoning e-commerce and retail sector is poised to contribute to the expansion of the top robotics market. The use of robotics in e-commerce is becoming increasingly prevalent to improve efficiency, speed, and cost-effectiveness across various business operations. According to Forbes Media LLC, e-commerce sales are projected to grow by 10.4% in 2023, with an expected 20.8% of retail transactions occurring online during the same period. This shift towards increased robot integration in the e-commerce and retail sector further fuels the growth of the top robotics market.

Technological advancements play a crucial role in shaping the top robotics market. Manufacturers are leveraging lightweight robots capable of handling diverse tasks to enhance productivity. Incorporating artificial intelligence, machine learning, and other emerging technologies, robots are becoming more intelligent, replicating human capabilities, and performing tasks traditionally carried out by humans. For instance, Omron, a Japan-based electronics company, introduced the Omron i4 in January 2021, featuring an integrated AI system for predictive maintenance, signifying the integration of advanced technologies in industrial robotics.

Major companies are focusing on developing compact robots. These smaller-sized robotic systems are designed for efficient and versatile tasks within confined spaces. ABB, a Switzerland-based automation company, launched the IRB 1010 in October 2022, representing its most compact industrial robot. With a reach of 370mm and a footprint measuring 135mm by 250mm, the IRB 1010 caters to the demand for miniaturized electronics and wearable devices, particularly in electronics manufacturing settings.

In March 2021, Accenture, an Ireland-based company providing consulting and processing services, acquired Pollux. This acquisition enhances Accenture’s capabilities in industrial robotics and automation solutions, particularly benefiting clients in consumer goods, pharmaceuticals, and the automotive industry, aiming to enhance productivity, safety, and sustainability in their factories, plants, and supply chains.

Major companies operating in the top robotics market include ABB Ltd., The Yaskawa Electric Corporation, FANUC Corporation, KUKA AG, Kawasaki Heavy Industries Ltd., Nachi-Fujikoshi Corp., Honda Motor Co. Ltd., Mitsubishi Electric Corporation, Northrop Grumman Corporation, Denso Corporation, Seiko Epson Corporation, Universal Robots, Omron Adept Technology Inc., Stäubli, Comau, Yamaha Motor Co. Ltd., ST Robotics, CMA Robotics S.P.A., Daifuku Co. Ltd., Neato Robotics, SoftBank Robotics Group Corp., GE Inspection Robotics AG, Starship Technologies, Nuro Inc., Intuitive Surgical Inc., Dürr AG, b+m Surface Systems Pvt. Ltd., igm Robotersysteme AG, Franka Emika GmbH, iRobot Corporation, DeLaval, Stryker Corporation

Asia-Pacific was the largest region in the top robotics market in 2023. The regions covered in the global top robotics market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the top robotics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The top robotics market consists of sales of articulated, cartesian, SCARA, cylindrical robotics. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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