Embracing Responsible Practices: Robotics Sector Navigates
ESG Challenges Towards High Standards
BOSTON, June 26,
2024 /PRNewswire/ -- "According to the latest BCC
Research study, the demand for "Robotics: Technologies and
Global Markets" is expected to grow from $78.4 billion in 2024 to $165.2 billion by the end of 2029, at a compound
annual growth rate (CAGR) of 16.1% from 2024 to 2029."
This study offers a comprehensive analysis of the robotics
market, covering various types of robots, including entire robots,
individual robot parts, software, and related devices and
materials. It delves into the diverse applications of robotics
across industries such as manufacturing, healthcare, defense, food
processing, chemical and fuel processing, government, education and
research, building maintenance, domestic household tasks,
agriculture, and construction. The report highlights key market
drivers, regional dynamics, and current industry trends. It also
profiles major vendors, providing detailed insights. The base year
for the analysis is 2023, with projections extending from 2024 to
2029, including forecasts of the compound annual growth rate (CAGR)
for the forecast period. Additionally, it includes a regional
analysis of factors influencing the deployment of robotics in
North America, Europe, Asia-Pacific, and the Rest of the World,
encompassing Latin America, the
Middle East, and Africa.
The global robotics market is driven by the following
factors:
Increasing Government Funding for Research and
Development: Governments are heavily investing in robotics to
boost research and innovation, focusing on AI, ML, and automation.
This funding promotes collaboration between academia, industry, and
research institutions to advance cutting-edge technologies.
Increasing Labor Shortages: Labor shortages in industries
like manufacturing and healthcare are driving the adoption of
robotics. Robots automate repetitive tasks, improving productivity
and filling gaps left by the lack of skilled workers.
Exponential Growth of E-commerce: The rise of e-commerce
has increased demand for efficient logistics and order fulfillment.
Robots in warehouses and distribution centers handle picking,
packing, and sorting to ensure fast and accurate deliveries,
enhancing supply chain efficiency.
Increasing Trend Toward Automation Across Various End-User
Applications: Industries are adopting automation to enhance
efficiency, reduce costs, and improve safety. Robotics is used in
sectors like automotive, electronics, and agriculture for tasks
such as assembly and quality control, driven by the shift toward
smart factories and Industry 4.0.
Request a Sample Copy of The Global Robotics
Market Report.
Report Synopsis
Report
Metrics
|
Details
|
Base year
considered
|
2023
|
Forecast Period
considered
|
2024-2029
|
Base year market
size
|
$67.9
billion
|
Market Size
Forecast
|
$165.2
billion
|
Growth rate
|
CAGR of 16.1% from 2024
to 2029
|
Segment
Covered
|
By Robot Type,
Application, Robot-Performed Task, and Region
|
Regions
covered
|
North America, Europe,
Asia-Pacific, and Rest of the World (including Latin America, the
Middle East and Africa)
|
Key Market
Drivers
|
•
Increasing government funding for
research and development
•
Increasing labor shortages
•
Exponential growth of
e-commerce
•
Increasing trend toward automation across
various end-user applications
|
Key Interesting Facts About the Global Robotics Market:
- Leading countries like Japan
and South Korea have national
strategies to support robotics innovation, aiming for a new
industrial revolution driven by robots.
- These strategies include acts promoting intelligent robot
development.
- Increasing robot autonomy and societal integration necessitate
transparency, explainability, and ethical decision-making.
- Innovations focus on algorithms and frameworks for robots to
explain decisions and follow ethical guidelines.
- Significant growth in demand for collaborative robots (cobots)
in manufacturing, healthcare, and logistics industries.
- Emphasizes the importance of human-robot collaboration in the
future of robotics.
The global robotics market worldwide the report includes
in-depth data and analysis addressing the following important
queries:
- What is the projected market size and growth rate of the
market?
The market is projected to reach $165.2
billion by 2029, growing at a CAGR of 16.1%.
- What are the key factors driving the growth of the market?
The key factors driving the market include increasing government
funding for research and development, increasing labor shortages,
exponential growth of e-commerce, etc.
- What segments are covered in the market?
- By Robot Type.
- By Application.
- By Robot-Performed Tasks.
- By Region.
- By Application, which segment will dominate the market by the
end of 2029?
By Application, the manufacturing sector is expected to dominate
the market by the end of 2029.
- Which region has the highest market share in the market?
The Asia-Pacific region holds the
highest share of the global market.
Some of the Key Market Players Are:
- ABB
- AMAZON.COM INC.
- BAE SYSTEMS
- BARRETT
- BLACK-I ROBOTICS
- BOSCH REXROTH AG
- BOSTON DYNAMICS
- CLEARPATH ROBOTICS INC.
- COMAU S.P.A.
- DEERE & CO.
- DENSO ROBOTICS
- GENERAL DYNAMICS MISSION SYSTEM INC.
- GOOGLE INC. (ALPHABET INC.)
- HARVEST AUTOMATION
- HITACHI LTD.
- HONDA MOTOR CO. LTD.
- INTUITIVE SURGICAL OPERATIONS INC.
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The geographic regions covered include North America, Europe, Asia-Pacific, and the rest of the world (RoW),
which encompasses South America,
the Middle East, and Africa. Revenue forecasts for all these
segments are provided for the period from 2023 to 2028, with
estimates based on the total revenues of providers.
Directly Purchase a copy of the
report with BCC Research.
For further information or to make a purchase, please get in
touch with info@bccresearch.com.
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