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  • Robotics Technology Market Analysis | 2023-2029

    Robotics Technology Market Analysis | 2023-2029

    Robotics Technology Market Analysis | 2023-2029
    Report code - SR2450 Delivery - 2 Weeks
    Robotics Technology Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth See more...

    Market Insights

    "The robotics technology market is expected to grow from USD 101.52 billion in 2022 to USD 200.85 billion by 2029 at a CAGR of 10.2% during the forecast period."

    Robotics technology involves the creation, design, operation, and use of robots for various applications. Robotics technology aims to create intelligent machines that can perform tasks typically done by humans or enhance human abilities. The field of robotics combines elements of mechanical engineering, electrical engineering, computer science, and artificial intelligence to create robots that can be programmed to perform specific tasks.

    Robotics technology is used in a variety of applications, from manufacturing and assembly lines to space exploration and medicine. With the increasing advancements in artificial intelligence and machine learning, robotics technology is expected to continue to grow and become more sophisticated, potentially changing the way we live and work in the future.

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    Market growth is being driven by increasing concerns, the development of energy-efficient drive systems, and intense competition among industrial verticals to adopt advanced technology and automation. The robotics domain has witnessed a significant increase in investments due to rising demand, as per the World Robotics report by the International Federation of Robotics.

    Robotics Technology Market Report: Overview

    Market Size in 2029

    USD 200.85 billion

    Market Size in 2022

    USD 101.52 billion

    CAGR (2023-2029)

    10.2%

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2029

    Key Players

    The major players operating in the global robotics technology market are:

    Segment Analysis

    Component Trends

    "The service robotics segment accounted for the largest market share."

    Service robotics will witness significant growth during the forecast period. The growing number of robot-assisted medical surgeries is driving product innovation in the market. In August 2022, Max Super Speciality Hospital in Mohali, India introduced one of the most advanced technologies, the Da Vinci Xi Surgical Robot, to its hospital.

    This launch of the revolutionary Da Vinci Xi Surgical Robot represents another patient-centric initiative taken by healthcare providers to offer patients access to quality healthcare services.

    Regional Insights

    "The Asia-Pacific region accounted for the largest market share."

    The Asia-Pacific region is expected to hold a significant market share due to the widespread adoption of robots, with South Korea and China leading in the deployment of robotics in the massive electronic and automotive manufacturing industries. The Japanese government has also announced funding for the development of eldercare robots to address the projected shortage of around 380,000 skilled workers by 2025.

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    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

    What deliverables will you get in this report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth analysis of the Robotics Technology Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional and country level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

     

    Target Audience

    Here is the list of the group of customers that the market hopes to have the greatest opportunity to convert:

    • Distributors
    • Suppliers
    • Manufacturers
    • Logistics organizations
    • Government bodies

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    Robotics technology involves the creation, design, operation, and use of robots for various applications. Robotics technology aims to create intelligent machines that can perform tasks typically done by humans or enhance human abilities. The field of robotics combines elements of mechanical engineering, electrical engineering, computer science, and artificial intelligence to create robots that can be programmed to perform specific tasks.

    The market is expected to grow at a CAGR of 10.2% during 2023-2029.

    The market size was estimated at USD 101.52 billion in 2022 and is projected to reach USD 200.85 billion by 2029.

    The major players operating in the global Robotics Technology market are ABB Ltd., Denso Corporation, Fanuc Corporation, Kawasaki Robotics (Kawasaki Heavy Industries Ltd.), KUKA AG, Mitsubishi Electric Corporation, OMRON Corporation, Seiko Epson Corporation, Stubli International AG, Yaskawa Electric Corporation.

    Market growth is being driven by increasing concerns, the development of energy-efficient drive systems, and intense competition among industrial verticals to adopt advanced technology and automation. The robotics domain has witnessed a significant increase in investments due to rising demand, as per the World Robotics report by the International Federation of Robotics.