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Written by Mark Smith » Updated on: October 23rd, 2024
As per the latest report by IMARC Group, titled “Robotics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on robotics market analysis. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global robotics market size reached US$ 46.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 169.8 Billion by 2032, exhibiting a growth rate (CAGR) of 15.1% during 2024-2032.
Robotics refers to the interdisciplinary field of engineering and science that focuses on designing, constructing, operating, and using robots. These robots are programmable machines equipped with sensors, actuators, and mechanisms to perform tasks autonomously or under human control. Robotics encompasses various subfields, including mechanical engineering, electrical engineering, computer science, and artificial intelligence. Robots can range from industrial manipulators used in manufacturing to autonomous drones, surgical robots, and household assistants. They are employed in diverse applications such as assembly lines, healthcare, transportation, exploration, and entertainment. Robotics continues to advance rapidly, with ongoing developments in sensors, control systems, machine learning, and human-robot interaction, leading to new opportunities and challenges in technology and society.
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Market Trends:
The global market is majorly driven by the increasing demand for automation across industries. Industries such as manufacturing, logistics, healthcare, and agriculture are increasingly adopting robotics to streamline processes, reduce costs, and enhance quality. Advancements in technology, particularly in areas such as artificial intelligence, machine learning, and sensor technology, are fueling innovation in robotics. These technological advancements enable robots to perform increasingly complex tasks with greater precision and autonomy, expanding their application scope. Besides, the growing need for collaborative robots or cobots, which can work alongside humans safely and efficiently, is driving market growth. Cobots find applications in tasks requiring human-robot collaboration, such as assembly, pick-and-place operations, and logistics. Fourthly, the rise of the Internet of Things (IoT) and Industry 4.0 initiatives is driving the integration of robotics into interconnected systems, enabling real-time data exchange and intelligent decision-making. This integration enhances the capabilities of robots and enables them to operate more autonomously within smart manufacturing environments. Additionally, factors such as increasing labor costs, workforce shortages, and the need for flexible production systems are driving the adoption of robotics further. Moreover, government initiatives and incentives promoting automation and robotics adoption, coupled with the availability of funding for research and development, are facilitating market growth.
View Full Report with TOC & List of Figure: https://www.imarcgroup.com/robotics-market
Robotics Market Segmentation:
Our report has categorized the market based on region and product type.
Breakup by Product Type:
Regional Insights:
Key highlights of the report:
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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