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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Robotics Market Size
The global robotics market size is aided by the growth of the global industrial robotics market, which attained USD 28.31 billion in 2023. The global industrial robotics market is expected to grow at a CAGR of 11% in the forecast period of 2024-2032 to reach USD 72.41 billion by 2032.
Robotics refers to a branch of technology which is associated with the design, operation, construction, and application of robots in various fields. The field overlaps with electronics, computer science, artificial intelligence, mechatronics, nanotechnology, and bioengineering.
One of the earliest recorded designs for a humanoid robot was made by Leonardo da Vinci. Around 1495, he sketched plans for a mechanical knight, a human-like machine capable of sitting up, waving its arms, and moving its head and jaw.
AI is often integrated into robotics to enhance the autonomy and decision-making capabilities of robots, which include machine learning, computer vision, and natural language processing. The future of robotics promises even more integration with AI increased collaboration between humans and robots (cobots), advancements in soft robotics, and broader application in various fields, including autonomous vehicles and smart homes.
Robotics Market Report Snapshots
Robotics Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market attained a value of approximately USD 28.31 billion.
The market is projected to grow at a CAGR of 11% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 72.41 billion by 2032.
The major drivers of the market include the increasing geriatric population and the extensive applications of robotics.
The key trends of the market include the rising use of robots in the healthcare sector and growing demand from developing regions.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major types of robotics in the market are industrial robotics, and service robotics, among others.
The significant applications of robotics are household, entertainment, military and defence, field and logistics, healthcare, infrastructure, and mobile platform, among others.
The key players in the global robotics market are FANUC Corporation, ABB Ltd, Denso Corporation, Toshiba Infrastructure Systems & Solutions Corporation, Mitsubishi Electric Corporation, and Yaskawa Electric Corporation, among others.
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