Vertical: SEMI
Market Size (2018)
$42.65B
Projected (2024)
$189.03B
CAGR (2018–2024)
28.2%
Key Players
15+
The manufacturing industry in its early age of adopting automation faces big challenges such as changing customer requirements, lack of infrastructure and resources, and skilled workforce. Robotics technology in collaboration with the help of artificial intelligence, human-machine interface, and Internet of Things (IoT) help the manufacturers to overcome these challenges. Among all the sectors and industries served by robots, industrial robotics has witnessed the highest rate of adoption. The major objective fulfilled by industrial robots is performing redundant manufacturing processes and operations in real-time with high accuracy and reliable implementation. Robotics is being rapidly adopted across major economies; South Korea being on top with the highest number of robots installed. Robots are in huge demand owing to increasing adoption of artificial intelligence and cognitive computing in combination with these devices. These robots find a wide range of applications in the industries, healthcare, defense, and entertainment, among others. In October 2016, Anki, a US-based company, introduced Cozmo Robots embedded with emotion sensors, artificial intelligence, and computer vision. This robot can recognize products using OLED cameras.
There has been a considerable increase in the demand for interactive entertainment robots, robot pets, and industrial robots embedded with omnidirectional sensors & cameras, that are used for processing 360-degree images and videos in real-time. The robots such as humanoids and robotic pets have a huge demand in Asia. The major factors boosting the growth of the market include high growth in industrial robotics and developing artificial intelligence technology.
The robotics market has been broadly classified by mobility, type, and end user. By mobility, the robotics market has been segmented into fixed robots and mobile robots. Among these, mobile robots dominated the market in 2018, capturing nearly 50% market share and growing at the highest CAGR during the forecast period. By type, the robotics market has been bifurcated into SCARA, cartesian, articulated, cylindrical, parallel, and others. SCARA robots are expected to grow with the highest CAGR during the forecast period. However, articulated robots dominated the market in 2018. The adoption of robotics technology and robots has reached various industries and sectors. The end users considered for the robotics market include medical, entertainment, field, logistics, defense, public safety, manufacturing, and others. Robots used for manufacturing applications dominate the market. However, consumer robots and those used for entertainment purposes are expected to grow with the highest CAGR during the forecast period.
The global robotics market comprises various manufacturers, government research firms, universities, and technical institutes that engage in developing and making advancement in the robotics industry. The major players considered in the scope of robotics market Universal Robots A/S, Boston Dynamics, iRobot Corporation, Nachi-Fujikoshi Corporation, Kawasaki Heavy Industries Ltd, Honda Motor Co Ltd, ABB Limited, Sony Corporation, Mitsubishi Electric Corporation, Northrop Grumman Corporation, Omron Corporation, Fanuc Corporation, KUKA AG, Yaskawa Electric Corporation, and Denso Corporation. The major players reside in Asia-Pacific followed by North America and Europe. The competition in the robotics industry is rapidly increasing owing to the entry of new players in the market serving various application areas.
The Robotics Market market is projected to grow at a CAGR of 28.2% from 2018 to 2024.
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View Subscription PlansRobotics is a combination of technology and engineering, encompassing mechanical engineering, electronics & electrical engineering, computer science, and other engineering domains. In a robotic process, the system requires a combination of software and physical components such as power supply, actuators, sensors, locomotive parts, storage devices, and control software. With the advent of machine learning, artificial intelligence (AI), IIoT, and human-machine interface technology, robotics have become a crucial part of the digitizing the manufacturing industry. Robots are widely used in military, construction, logistics, field, medical, agriculture, household operation, and education. Robots also used in factories for performing high accuracy jobs such as welding and riveting. However, robots are yet not efficient enough to be used for daily household jobs, as they are very uncoordinated to perform ordinary routine tasks.
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View Subscription PlansThis report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
—
Historical Period
2018 – 2024
Forecast Period
2018 – 2024
Primary Interviews
150+
Historical performance and future projections
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
The global robotics market consists of various global, regional, and local service providers who are continuously evolving to enhance their market position. Growth in industrial robotics and developing artificial intelligence technology are the key factors that aid market growth. However, high initial cost and high technical complexity are expected to limit the growth of the market during the forecast period. The robot manufacturers compete based on technology, efficiency, and reliability of robots to sustain in the market. It is important for robot manufacturers to provide products according to industry and customer needs and advanced technology to maintain their market position and gain a competitive advantage.
Vendors in the global robotics market are focusing on improving their technologies and upgrading products as well as expanding into the underdeveloped and developing economies. Universal Robots A/S, Boston Dynamics, iRobot Corporation, Nachi-Fujikoshi Corp., Kawasaki Heavy Industries, Ltd., Honda Motor Co. Ltd., ABB Group, Sony Corporation, Mitsubishi Electric Corporation, Northrop Grumman Corporation, Omron Corporation, Fanuc Corporation, KUKA AG, Yaskawa Electric Corporation and DENSO Corporation are the major players in the market, competing in terms of variety of robots offered, efficiency, reliability, affordability, and advanced technology. Their primary focus is to provide advanced products to speed up human work and industrial tasks. Although global players are dominating the market, a few regional and other local players with limited market shares also have a prominent presence in this market.
The major players would look to strengthen their global presence through mergers and acquisitions of local and regional players; they are expected to expand their presence and solutions in those regions during the forecast period. The improvement of the global economic scenario combined with technological advancement in the emerging economies such as India, South Africa, China, Brazil, Argentina, and other under-developed countries, is likely to fuel the market growth, making it an ideal time to expand the robotics market geographically and increase the market share. Therefore, vendors must develop new technologies to stay at par with emerging technology trends that could affect the competitiveness of their product lines in the market.
Michael Porter’s Five Forces model provides a framework to study the global robotics market. Strategic business managers, trying to gain an edge over competing firms in the global robotics market, can utilize this model to better understand the industry in which the firm operates. The components of each of the forces and the degree of impact of each component in the context of the global robotics market have been broken down and analyzed.
Threat of new entrants
The robotics market has various leading players such as Fanuc Corporation, Kuka AG, Yaskawa Motoman, Nachi-Fujikoshi Corporation, and others. These companies have a wide geographical presence and possess high market share globally. The development of robotic automation solutions requires high capital investment and an equally high degree of technical expertise. However, due to rapid advances in automation and connected devices, new players are increasingly investing to enter the market. However, moderate government regulations regarding worker safety can restrict the entry of new players in the market to a certain extent. Therefore, the threat of new entrants is expected to moderate.
Bargaining power of suppliers
The component suppliers for the robotics market comprise motor suppliers, sensors suppliers, and other active and passive electronic component suppliers. The system integrators perform horizontal integration of these suppliers with the software /platform developers. This integration is subject to long-term agreement between suppliers and integrators which increases the cost of switching from one supplier to another. The use of electronic and mechanical components for manufacturing a robot depends upon the application for which the robot is being used. The differentiation among the price of the component is moderate due to which the overall bargaining power of supplier is high.
Threat of substitute
Currently, there are no direct substitutes for robots in the market. However, AI-based software can be an internal substitute for the robotics market. Since AI-based software serves as a complementary product to robotics, a limited number of buyers are inclined towards the implementation of these systems. Thus, the threat of substitutes is expected to have a low degree of impact on the global robotics market during the forecast period.
Bargaining power of buyers
The buyers in the robotics market comprise automobile manufacturers, medical device manufacturers, smartphone manufacturers, and other general manufacturers. The cost of procuring a robot at this stage is high which also limits the actual concentration of buyers across regions. Moreover, due to moderate brand identity, the bargaining power of buyers is moderate.
Rivalry
The existing players in the global robotics market compete on the basis of industry expertise, geographical presence, and product offerings. Fanuc Corporation, Kuka AG, Yaskawa Motoman, Nachi-Fujikoshi Corporation, and Denso Corporation are the established players in the robotics market. Thus, it becomes challenging for new players to compete with the established key players and provide users with better and advanced services. This has created a high degree of rivalry among the players in the global robotics market.
Market estimates by geography (2024)
InsightAsia Pacific leads with $100.22B by 2024.
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View Subscription Plans| REGION | 2018 | 2018 | 2024 | CAGR | SHARE |
|---|---|---|---|---|---|
| Middle East and Africa | $2.24B | $3.57B | $5.93B | 17.6% | 3% |
| North America | $10.10B | $18.92B | $40.86B | 26.2% | 22% |
| Asia Pacific | $19.85B | $43.52B | $100.22B | 31.0% | 53% |
| Europe | $9.23B | $18.32B | $38.57B | 26.9% | 20% |
| South America | $1.24B | $2.06B | $3.45B | 18.7% | 2% |
| Total | $42.65B | $86.39B | $189.03B | 28.2% | 100% |
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View Subscription PlansTotal Market Size
$189.03B
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Mobile Robots | $123.60B | 30.8% | 65% |
| Fixed Robots | $65.43B | 24.0% | 35% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytical insights on Robotics Market covering market dynamics, competitive landscape, and strategic outlook.
The Robotics Market market is projected to reach $189.03B by 2024, growing at 28.2% CAGR. The Mobile Robots segment holds the largest share.
The robotics industry is growing rapidly fuelled by the developments in artificial intelligence (AI). Many enterprises are expected to adopt industrial robots due to automation trends and innovative technological advancements. Future robots are expected to have features such as voice and language recognition, fast communication, learning capabilities, mobility, portability, and dexterity. The adoption of industrial robots is expected to increase to sort and fill prescriptions, pick and pack warehouse orders, and sort, inspect, process, and handle fruits and vegetables. Robot programming has transformed with simpler user interfaces resulting in unmanned aerial vehicles (UAVs) and autonomous vehicles. Industrial robotic arms are being embraced in the construction industry for commercial construction, renovation, and demolition purposes. Industrial robots have the ability to produce high-quality products with precision and can generate high returns on investment for the investors and also bring safety in the workplace. Industrial robotics is used for automated manufacturing in the production process for improving productivity and profits by reducing energy consumption and cost associated with the manufacturing process. Hence growth in the industrial robotics is expected to drive the robotics market during the forecast period.
In the retail sector, entertainment robots find their application mainly to enhance customer engagement. The retailers are looking for entertainment products that help them deliver best-in-class services to the customers. The adoption of digitization, artificial intelligence, and machine learning helps in offering a new generation of entertainment robots. Artificial intelligence enables advanced facial recognition, speech recognition, and emotion recognition, sensors for which are integrated into the robots. In retail outlets, these robots are becoming the ultimate customer touchpoints and a well-accepted way of entertainment and customer interaction. In July 2019, AT&T entered into a partnership with Badger Technologies to develop 5G autonomous robots for retail stores. These robots can identify any out-of-stock products and misplaced or mispriced product in the store.
The planning and designing of robots need massive investments. The implementation of advanced robotic technology into robots is expensive. The research and development of different robots require different sensors such as motion sensor, gesture sensor, voice recognition sensor, and others that are expensive components for producing robots. Therefore, high initial cost, long product life cycle, and limited functionality of robots are hampering the market growth. However, the development of robots with artificial intelligence has led to technical complexity associated with human-machine interface. Robots are built on the principles of robotics with the help of several sensors, which imparts a certain level of technical complexity with respect to receiving or responding to perception, action, and cognition. The human-machine interface often encounters issues with synchronization between humans and machines due to technical complexity in robots which is a rapidly surfacing challenge for the market.
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Profiles of 105 companies operating in the Robotics Market market, including revenue, employee count, and market positioning where available.
Showing 105 of 105 companies
Company Headquarters: Japan Founded: 1915 Workforce: ~ 15,179 Company Working: Yaskawa Electric Corporation is a leading automation company. The core products of the company are servo motors, controllers, AC drives, and industrial robots. It uses these core technologies to evolve mechatronics using digital data. It operates through motion control, robotics, system engineering, and other segments. The motion control segment includes AC servo drives and controller business. Under the robotics segment, it offers arc and spot-welding robots, painting robots, handling robots, and clean/vacuum transfer robots for semiconductors and LCD manufacturing equipment. Under system engineering, the company offers steel plant business, social system business, environment & energy business, and industrial electronics business. The others segment includes EV drive systems and logistics. Yaskawa Electric Corporation has a presence in regions such as the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
Company Headquarters: Japan Founded: 1948 Workforce: 30,000+ Company Working: A well-known international firm with a focus on the production of cars, motorbikes, power tools, and other motorized products is Honda Motor Company, Ltd. Honda, which was founded in 1948 by Soichiro Honda and Takeo Fujisawa, has developed into one of the biggest and most prestigious automakers in the world. Honda offers many products, including cars, motorbikes, power tools like lawnmowers and generators, and aircraft. The business is renowned for its high-performance motorcycles, environmentally friendly and fuel-efficient cars and cutting-edge engine innovations. Honda has a strong global presence with production plants and distribution networks spread over numerous continents, including North America, Europe, Asia, and other developing countries. Honda can efficiently meet the demands of regional markets and serve a wide spectrum of clients thanks to its broad reach. Honda extensively participates in motorsports, including Formula 1 and motorbike racing, in addition to producing cars and motorcycles. Participation in such high-profile events demonstrates Honda's engineering prowess and enhances the company's reputation and brand image.
Company Headquarters: Japan Founded: 1958 Workforce: ~ 7,866 Company Working: Fanuc Corporation (Fanuc) is a multinational corporation that provides automation products and services such as robotics and computer numerical control wireless systems. The company offers products in four categories FA Products, ROBOT Products, ROBOMACHINE Products, and FIELD system Products. Under the FA Products category, the company offers CNC Series, servo motor, servo amplifier, and laser. Under the Robot Products category, the company offers Articulated Robots, Delta ROBOTs, Intelligent Features. Under the Robomachine Products category, it offers Robodrill, Roboshot, Robocut, and Robonano. Under the Field system Products category, it provides FANUC Intelligent Edge Link & Drive system. The company does also offer services for minimizing downtime in a call center, preventive maintenance, and lifetime maintenance for factory Repair services. The company has a global presence with offices across Japan, America, Europe, Asia, and South Africa.
Company Headquarter: US Founded: 1990 Workforce: 920 Company Working: iRobot Corporation is a leading manufacturer of home and consumer robots. It has sold around 25 million home and consumer robots worldwide. The company also manufactures collaborative robots. It also works as a third-party developer, providing information and products that facilitate the creation and easy integration of new payloads, behaviors, and capabilities on iRobot platforms. The company has offices in California, the UK, China, and Hong Kong.
Company Headquarter: Denmark Founded: 2005 Workforce: 620 Company Working: Universal Robots A/S (Universal Robots) is a leading manufacturer of collaborative robots. It has sold more than 34,000 collaborative robots around the world. It also manufactures industrial robot arms, which are used to automate and streamline repetitive industrial processes. The company serves in automotive, food and agriculture, furniture and equipment, metal and machining, plastic, pharma and chemistry, and scientific and research sectors and other industries worldwide. These robots are used for pick-and-place, injection molding, CNC, packaging and palletizing, quality inspection, assembly, machine tending, lab analysis and testing, and gluing and welding applications. Universal robots provide benefits such as easy programming, fast set-up, and flexible deployment.
Company Headquarter: Germany Founded: 1898 Workforce: 14200 Company Working: KUKA AG is engaged in providing solutions for the automation of industrial production processes. The company provides services in mechanical and systems engineering. KUKA offers tailored solutions ranging from robots to cells and large-scale systems. The company focuses on eight markets including automotive, aerospace, electronics, consumer goods, metal industry, energy, healthcare, and e-commerce, and operates in Europe, Asia-Pacific, North America, and South America. The company operates through three segments: systems, robotics, and Swiss log. The company's robotics segment supplies industrial robots to the industry sector, mobile platforms, control systems, and software solutions. This segment develops, assembles, and sells industrial and service robots together with robot controllers, software, and services. The company also engages in the research and development activities through KUKA laboratories which develops and markets products in the field of service robotics.
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Historical performance and future projections (2020–2030, USD Billion)
Market Size (USD Mn)
