ELINT Market Research forecasts astonishing growth of the Robotics Market.

Posted by Aryan Parate on March 13th, 2024

The robotics industry is rapidly growing and gaining popularity in various sectors because of its ability to handle repetitive and heavy-duty tasks with advanced features like actuators, error detectors, real-time monitoring, tricky programming, and more. Industrial robots are made of critical components like a controller, robotic arm, end effectors, drives, and sensors, making them ideal for everyday product designing and manufacturing operations.

ELINT Market Research predicts that the robotics market size will increase from .20 billion in 2022 to .80 billion by 2025 at a CAGR of 10.26%.

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The integration of technological advancements like AI and machine learning in robots is driving growth in the robotics market. Multiple sectors like healthcare, logistics, and manufacturing are employing robots to accomplish complex jobs with precision. The need for human labor security in hazardous manufactories is another key factor driving the robotics market growth. Robots can function efficiently in risky environments and protect human workers from accidents and injuries. The transition towards automation-based devices is also contributing to the robotics market expansion.

Driving this expansion are several factors:

1. Technological Advancements: Integration of AI and machine learning enhances robotic capabilities, particularly in sectors like healthcare, logistics, and manufacturing.

2. Workplace Safety: With the increasing need to protect human labor in hazardous environments, industrial robots offer a safe and efficient alternative, reducing the risk of accidents and injuries.

3. Automation Trends: The transition towards automation-based solutions, driven by sectors like manufacturing and logistics, further accelerates market growth.

The global robotics market can be segmented based on mechanical structure types, application types, product types, end-user industries, geographical regions, and more. Intelligent robotic techniques are expanding rapidly in the healthcare sector, assisting in distinct surgical procedures, diagnosing methods, and patient care. The mechanical structure-based classification of robots includes articulated robots, cartesian robots, cylindrical robots, gantry robots, parallel robots, and SCARA robots. The product type classification contains cobots, industrial robots, and service robots. Each robotic system has five distinct cost components contributing to the total cost, including electrical and mechanical parts, labor costs, peripheral costs, and systems engineering costs.

China, South Korea, Japan, the US, and Germany are the leading players in the global robotics market. Europe has the highest robot density, with an average of 92 robots per 10,000 employees, followed by America with 86 robots per 10,000 workers and Asia with 57 robots per 10,000 workers. In 2019, FANUC UK launched a collaborative robot called CR-7iA, able to carry payloads of up to 7kgs, which was a notable development in the global robotics market.

Important Questions Addressed in the Report:

1. Future Prediction: The robotics industry is expected to grow at a CAGR of 14.7% from 2023 to 2032, surpassing a valuation of approximately 3.19 billion.

2. Driving Factors: Rising demand for service robots, advanced technologies like cobots, and industrial robots catering to heavy lifting tasks are primary growth drivers.

3. Leading Countries: China, South Korea, Japan, the US, and Germany stand as leading contributors to global industrial robot sales.

For more insights into the global robotics market, access the full report from ELINT Market Research. Contact us for more details: https://elintmarketresearch.com/contact-us/