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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Regional Insights
Significant contribution from the Asia Pacific region to aid the market growth
The Asia Pacific region occupies a significant robotics market share. The region is expected to witness the highest growth rate over the forecast period. Within Asia Pacific, China is expected to lead the market growth as the country is adopting robotics as a result of the country’s developing electronic and automotive manufacturing sectors.
Further, as these sectors are growing at a rapid speed in other countries like India, there is a large potential for market growth. Moreover, the market growth is invigorated by the ageing population in countries within the Asia Pacific region, like China and Japan, consequently aiding the medical technology sector, and helping generate a huge market for service robots in the region.
Many governments in the Asia Pacific region have initiated policies and investments to promote the development and adoption of robotics. For example, China's "Made in China 2025" plan includes a significant focus on robotic technology. Similarly, Japan and South Korea have substantial government-backed initiatives to advance their robotics sectors.
In several Asia Pacific countries, labour costs have been rising, and there is a growing concern about an ageing workforce. Robotics offers a solution to these challenges by automating tasks and compensating for labour shortages, especially in countries like Japan. The logistics and supply chain sector in the region is also rapidly adopting robotics to increase efficiency and accuracy in warehouses and distribution centres, driven by the e-commerce boom.
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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