Robotics Market size to grow by USD 22.26 billion from 2022 to 2027, ABB Ltd., Clearpath Robotics Inc., Cyberdyne Inc., DENSO Corp. are among the major companies in the market – Technavio

NEW YORK, Oct. 22, 2023 /PRNewswire/ — The global robotics market size is estimated to increase by USD 22.26 billion from 2022 to 2027. The market’s growth momentum will progress at a CAGR of 7.71% during the forecast period. The global robotics market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer robotics in the market are ABB Ltd., Clearpath Robotics Inc., Cyberdyne Inc., DENSO Corp., FANUC Corp., GEA Group AG, Honeywell International Inc., Intuitive Surgical Inc., Kawasaki Heavy Industries Ltd., KION GROUP AG, L3Harris Technologies Inc., Lely International NV, MIDEA Group, OMRON Corp., Relay Robotics Inc., SMP Robotics Systems Corp., Teradyne Inc., The Boeing Co., Zebra Technologies Corp., and Irobot Corp. and others. Discover some key insights on market size, historic period (2017-2021), and forecast (2023-2027) before buying the full report – Request a sample report

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Vendor Offerings –

• ABB Ltd. – The company offers robotics products such as articulated robots and collaborative robots.
• Clearpath Robotics Inc. – The company offers robotics products such as Warthog UGV, Husky UGV, Dingo, and Boxer.
• Cyberdyne Inc. – The company offers robotics products such as the MB-CL02.
• For details on the vendor and their offerings – Request a sample report

Robotics Market – Segmentation Assessment

Segment Overview

This robotics market report extensively covers market segmentation by application (industrial and services), end-user (manufacturing, healthcare, aerospace and defense, media and entertainment, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America).

• The market share growth of the industrial segment will be significant during the forecast period. This growth is due to its use in various industrial applications such as material handling, assembly and disassembly, welding and brazing, cutting, deburring, grinding, painting, sealing, bonding, and clean room applications. The market players have placed increasing emphasis on improving production efficiency, operational excellence, and competitive advantage in a highly competitive scenario. Companies in the market increasingly turn to robotics to reduce costs and lead times, reduce human interaction to improve safety, and increase production throughout. Hence, such factors improve segment growth during the forecast period.

Geography Overview

The report provides actionable insights and estimates the contribution of all regions to the growth of the global robotics market.

• APAC is estimated to account for 49% of the global market growth during the forecast period. Some of the factors for the growth in the region include government initiatives, increasing demand for locally manufactured vehicles, and a strong manufacturing sector. Automakers in countries such as China and India are investing more in manufacturing plant automation solutions to improve productivity and reduce cycle times. This gives them a competitive advantage over other players. Thus, the demand for robots will increase, as manufacturers adopt robotics and automation to address shortcomings from outdated equipment and technology, unstable production, and reliance on manual labor.

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Robotics Market – Market Dynamics

Key Driver

The robotics industry adopts safety material handling equipment as a result of the need for personal safety and the reduction of work-related injuries. Industries such as automotive and heavy oil chemicals involve harsh working environments and constant exposure to toxic substances. These processes pose a high risk to human workers and can lead to accidents and conventional handling of materials during processing can lead to permanent product damage and changes in material properties. This can also cause material contamination. Occupational injuries and physical exhaustion of human workers are common on assembly lines and can waste plenty of resources on industry players, which led companies to use robotics to improve employee safety. 

Key Trends – 

• The government initiatives in Europe to improve the robotics industry are an emerging robotics market trend.
• Launched in December 2013, Horizon 2020 is the EU’s largest research and innovation program worth USD 88.68 billion, and the investment was made by European leaders and members of the European Parliament. 
• Robotics is recognized as an important resource to secure an edge in the global market. For instance, European governments help SMEs integrate industrial robots to improve efficiency and create local job opportunities.
• The production capacity in Europe will receive a positive boost by improving the performance and efficiency of SMEs.
• Hence, such trends are expected to fuel market growth during the forecast period.

Major challenges –

• A shortage of skilled personnel is a major challenge hampering the growth of the robotics market.
• A primary challenge that could affect the market is the lack of technical know-how in the workforce. 
• Human personnel requires knowledge of how robots work and regular maintenance in order to keep them running smoothly. 
• However, the lack of technical know-how often discourages end-users from using robots, as they see the downtime required for maintenance work as a significant loss. This is a challenge, as end users are reluctant to learn and apply new operational technologies. 
• Additionally, the lack of skilled operators and proper training creates a constant reluctance to undertake large-scale robotic automation, as it requires significant investment in time, training, and budget for successful implementation. 
• Hence, such challenges may impede the market growth during the forecast period.

Drivers, trends, and challenges have an impact on businesses. Find more such insights in the sample PDF within MINUTES!

What are the key data covered in this Robotics Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the robotics market between 2023 and 2027
• Precise estimation of the size of the robotics market size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the robotics market across APAC, Europe, North America, Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of robotics market vendors

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Table of Contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 (USD million)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 (USD million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global robotics market 2017 – 2021 
• Exhibit 18: Historic Market Size – Data Table on Global robotics market 2017 – 2021 (USD million)

• 4.2 Application Segment Analysis 2017 – 2021 
• Exhibit 19: Historic Market Size – Application Segment 2017 – 2021 (USD million)

• 4.3 End-user Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size – End-user Segment 2017 – 2021 (USD million)

• 4.4 Geography Segment Analysis 2017 – 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 (USD million)

• 4.5 Country Segment Analysis 2017 – 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 (USD million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments
• Exhibit 30: Chart on Application – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application – Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Industrial – Market size and forecast 2022-2027 
• Exhibit 34: Chart on Industrial – Market size and forecast 2022-2027 (USD million)
• Exhibit 35: Data Table on Industrial – Market size and forecast 2022-2027 (USD million)
• Exhibit 36: Chart on Industrial – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Industrial – Year-over-year growth 2022-2027 (%)

• 6.4 Services – Market size and forecast 2022-2027 
• Exhibit 38: Chart on Services – Market size and forecast 2022-2027 (USD million)
• Exhibit 39: Data Table on Services – Market size and forecast 2022-2027 (USD million)
• Exhibit 40: Chart on Services – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Services – Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Application 
• Exhibit 42: Market opportunity by Application (USD million)
• Exhibit 43: Data Table on Market opportunity by Application (USD million)

7 Market Segmentation by End-user

• 7.1 Market segments
• Exhibit 44: Chart on End-user – Market share 2022-2027 (%)
• Exhibit 45: Data Table on End-user – Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 46: Chart on Comparison by End-user
• Exhibit 47: Data Table on Comparison by End-user

• 7.3 Manufacturing – Market size and forecast 2022-2027 
• Exhibit 48: Chart on Manufacturing – Market size and forecast 2022-2027 (USD million)
• Exhibit 49: Data Table on Manufacturing – Market size and forecast 2022-2027 (USD million)
• Exhibit 50: Chart on Manufacturing – Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Manufacturing – Year-over-year growth 2022-2027 (%)

• 7.4 Healthcare – Market size and forecast 2022-2027 
• Exhibit 52: Chart on Healthcare – Market size and forecast 2022-2027 (USD million)
• Exhibit 53: Data Table on Healthcare – Market size and forecast 2022-2027 (USD million)
• Exhibit 54: Chart on Healthcare – Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Healthcare – Year-over-year growth 2022-2027 (%)

• 7.5 Aerospace and defense – Market size and forecast 2022-2027 
• Exhibit 56: Chart on Aerospace and defense – Market size and forecast 2022-2027 (USD million)
• Exhibit 57: Data Table on Aerospace and defense – Market size and forecast 2022-2027 (USD million)
• Exhibit 58: Chart on Aerospace and defense – Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Aerospace and defense – Year-over-year growth 2022-2027 (%)

• 7.6 Media and entertainment – Market size and forecast 2022-2027 
• Exhibit 60: Chart on Media and entertainment – Market size and forecast 2022-2027 (USD million)
• Exhibit 61: Data Table on Media and entertainment – Market size and forecast 2022-2027 (USD million)
• Exhibit 62: Chart on Media and entertainment – Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Media and entertainment – Year-over-year growth 2022-2027 (%)

• 7.7 Others – Market size and forecast 2022-2027 
• Exhibit 64: Chart on Others – Market size and forecast 2022-2027 (USD million)
• Exhibit 65: Data Table on Others – Market size and forecast 2022-2027 (USD million)
• Exhibit 66: Chart on Others – Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Others – Year-over-year growth 2022-2027 (%)

• 7.8 Market opportunity by End-user 
• Exhibit 68: Market opportunity by End-user (USD million)
• Exhibit 69: Data Table on Market opportunity by End-user (USD million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 71: Chart on Market share by geography 2022-2027 (%)
• Exhibit 72: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 73: Chart on Geographic comparison
• Exhibit 74: Data Table on Geographic comparison

• 9.3 APAC – Market size and forecast 2022-2027 
• Exhibit 75: Chart on APAC – Market size and forecast 2022-2027 (USD million)
• Exhibit 76: Data Table on APAC – Market size and forecast 2022-2027 (USD million)
• Exhibit 77: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027 
• Exhibit 79: Chart on Europe – Market size and forecast 2022-2027 (USD million)
• Exhibit 80: Data Table on Europe – Market size and forecast 2022-2027 (USD million)
• Exhibit 81: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 North America – Market size and forecast 2022-2027 
• Exhibit 83: Chart on North America – Market size and forecast 2022-2027 (USD million)
• Exhibit 84: Data Table on North America – Market size and forecast 2022-2027 (USD million)
• Exhibit 85: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 87: Chart on Middle East and Africa – Market size and forecast 2022-2027 (USD million)
• Exhibit 88: Data Table on Middle East and Africa – Market size and forecast 2022-2027 (USD million)
• Exhibit 89: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.7 South America – Market size and forecast 2022-2027 
• Exhibit 91: Chart on South America – Market size and forecast 2022-2027 (USD million)
• Exhibit 92: Data Table on South America – Market size and forecast 2022-2027 (USD million)
• Exhibit 93: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.8 China – Market size and forecast 2022-2027 
• Exhibit 95: Chart on China – Market size and forecast 2022-2027 (USD million)
• Exhibit 96: Data Table on China – Market size and forecast 2022-2027 (USD million)
• Exhibit 97: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.9 US – Market size and forecast 2022-2027 
• Exhibit 99: Chart on US – Market size and forecast 2022-2027 (USD million)
• Exhibit 100: Data Table on US – Market size and forecast 2022-2027 (USD million)
• Exhibit 101: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.10 Japan – Market size and forecast 2022-2027 
• Exhibit 103: Chart on Japan – Market size and forecast 2022-2027 (USD million)
• Exhibit 104: Data Table on Japan – Market size and forecast 2022-2027 (USD million)
• Exhibit 105: Chart on Japan – Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Japan – Year-over-year growth 2022-2027 (%)

• 9.11 Germany – Market size and forecast 2022-2027 
• Exhibit 107: Chart on Germany – Market size and forecast 2022-2027 (USD million)
• Exhibit 108: Data Table on Germany – Market size and forecast 2022-2027 (USD million)
• Exhibit 109: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.12 South Korea – Market size and forecast 2022-2027 
• Exhibit 111: Chart on South Korea – Market size and forecast 2022-2027 (USD million)
• Exhibit 112: Data Table on South Korea – Market size and forecast 2022-2027 (USD million)
• Exhibit 113: Chart on South Korea – Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on South Korea – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 115: Market opportunity by geography (USD million)
• Exhibit 116: Data Tables on Market opportunity by geography (USD million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 117: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 118: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 119: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 120: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 121: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 122: Matrix on vendor position and classification

• 12.3 ABB Ltd.
• Exhibit 123: ABB Ltd. – Overview
• Exhibit 124: ABB Ltd. – Business segments
• Exhibit 125: ABB Ltd. – Key offerings
• Exhibit 126: ABB Ltd. – Segment focus

• 12.4 Clearpath Robotics Inc. 
• Exhibit 127: Clearpath Robotics Inc. – Overview
• Exhibit 128: Clearpath Robotics Inc. – Product / Service
• Exhibit 129: Clearpath Robotics Inc. – Key offerings

• 12.5 Cyberdyne Inc.
• Exhibit 130: Cyberdyne Inc. – Overview
• Exhibit 131: Cyberdyne Inc. – Product / Service
• Exhibit 132: Cyberdyne Inc. – Key offerings

• 12.6 DENSO Corp.
• Exhibit 133: DENSO Corp. – Overview
• Exhibit 134: DENSO Corp. – Business segments
• Exhibit 135: DENSO Corp. – Key news
• Exhibit 136: DENSO Corp. – Key offerings
• Exhibit 137: DENSO Corp. – Segment focus

• 12.7 FANUC Corp.
• Exhibit 138: FANUC Corp. – Overview
• Exhibit 139: FANUC Corp. – Product / Service
• Exhibit 140: FANUC Corp. – Key offerings

• 12.8 GEA Group AG
• Exhibit 141: GEA Group AG – Overview
• Exhibit 142: GEA Group AG – Business segments
• Exhibit 143: GEA Group AG – Key offerings
• Exhibit 144: GEA Group AG – Segment focus

• 12.9 Honeywell International Inc. 
• Exhibit 145: Honeywell International Inc. – Overview
• Exhibit 146: Honeywell International Inc. – Business segments
• Exhibit 147: Honeywell International Inc. – Key news
• Exhibit 148: Honeywell International Inc. – Key offerings
• Exhibit 149: Honeywell International Inc. – Segment focus

• 12.10 Kawasaki Heavy Industries Ltd. 
• Exhibit 150: Kawasaki Heavy Industries Ltd. – Overview
• Exhibit 151: Kawasaki Heavy Industries Ltd. – Business segments
• Exhibit 152: Kawasaki Heavy Industries Ltd. – Key news
• Exhibit 153: Kawasaki Heavy Industries Ltd. – Key offerings
• Exhibit 154: Kawasaki Heavy Industries Ltd. – Segment focus

• 12.11 KION GROUP AG
• Exhibit 155: KION GROUP AG – Overview
• Exhibit 156: KION GROUP AG – Business segments
• Exhibit 157: KION GROUP AG – Key news
• Exhibit 158: KION GROUP AG – Key offerings
• Exhibit 159: KION GROUP AG – Segment focus

• 12.12 L3Harris Technologies Inc. 
• Exhibit 160: L3Harris Technologies Inc. – Overview
• Exhibit 161: L3Harris Technologies Inc. – Business segments
• Exhibit 162: L3Harris Technologies Inc. – Key news
• Exhibit 163: L3Harris Technologies Inc. – Key offerings
• Exhibit 164: L3Harris Technologies Inc. – Segment focus

• 12.13 Lely International NV 
• Exhibit 165: Lely International NV – Overview
• Exhibit 166: Lely International NV – Product / Service
• Exhibit 167: Lely International NV – Key offerings

• 12.14 OMRON Corp.
• Exhibit 168: OMRON Corp. – Overview
• Exhibit 169: OMRON Corp. – Business segments
• Exhibit 170: OMRON Corp. – Key news
• Exhibit 171: OMRON Corp. – Key offerings
• Exhibit 172: OMRON Corp. – Segment focus

• 12.15 Relay Robotics Inc.
• Exhibit 173: Relay Robotics Inc. – Overview
• Exhibit 174: Relay Robotics Inc. – Product / Service
• Exhibit 175: Relay Robotics Inc. – Key news
• Exhibit 176: Relay Robotics Inc. – Key offerings

• 12.16 SMP Robotics Systems Corp. 
• Exhibit 177: SMP Robotics Systems Corp. – Overview
• Exhibit 178: SMP Robotics Systems Corp. – Product / Service
• Exhibit 179: SMP Robotics Systems Corp. – Key offerings

• 12.17 The Boeing Co.
• Exhibit 180: The Boeing Co. – Overview
• Exhibit 181: The Boeing Co. – Business segments
• Exhibit 182: The Boeing Co. – Key news
• Exhibit 183: The Boeing Co. – Key offerings
• Exhibit 184: The Boeing Co. – Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 185: Inclusions checklist
• Exhibit 186: Exclusions checklist

• 13.3 Currency conversion rates for USUSD 
• Exhibit 187: Currency conversion rates for USUSD

• 13.4 Research methodology
• Exhibit 188: Research methodology
• Exhibit 189: Validation techniques employed for market sizing
• Exhibit 190: Information sources

• 13.5 List of abbreviations 
• Exhibit 191: List of abbreviations

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