Robotics Market Size, Industry Growth, Challenges, Future Projections, Opportunities 2023-2028

As per the latest report by IMARC Group, titled “Robotics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on global robotics market report. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global robotics market size reached US$ 39.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 102.4 Billion by 2028, exhibiting a growth rate (CAGR) of 17.58% during 2023-2028.

What are robotics?

Robotics refers to robots’ design, construction, operation, and use. A robot is an electromechanical machine capable of performing tasks autonomously or with minimal human intervention. Robots are typically equipped with sensors, actuators, and control systems that enable them to interact with the physical world and perform various tasks. Robotics has various applications in various industries, including manufacturing, healthcare, agriculture, transportation, and entertainment. They offer increased efficiency, improved safety, precision, high quality, cost-savings, flexibility, customer satisfaction, and working conditions.

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What are the growth prospects and trends in the robotics industry?

The global market is primarily driven by the increasing demand for automation in manufacturing. In line with this, the advances in artificial intelligence and machine learning are enabling robots to perform more complex tasks and adapt to changing environments, which, in turn, is significantly contributing to the market. Furthermore, the rising interest in collaborative robots and the heavy investments in developing new and innovative robot designs and capabilities are positively influencing the market. Apart from this, the rapid technological advancements in sensor and actuator technology are expected to offer numerous opportunities for the market. Moreover, the growing adoption of robots in the healthcare industry and advancements in 3D printing technology are catalyzing the market. Besides, the escalating demand for drones and other unmanned aerial vehicles and the increasing focus on safety in various industries are favorably impacting the market. Additionally, the rising demand for robots in the military and defense industry, including for surveillance and reconnaissance, is providing a boost to the market.

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Robotics Market Segmentation:

Our report has categorized the market based on region and product type.

Breakup by Product Type:

• Industrial
  • Breakup by Type
    • Articulated
    • Cartesian
    • SCARA
    • Cylindrical
    • Others 
  • Service
    • Breakup by Type
      • Personal and Domestic
      • Professional
    • Breakup by Application
      • Household Applications
      • Entertainment Applications
      • Defence Applications
      • Field Applications
      • Logistics Applications
      • Healthcare Applications
      • Infrastructure Applications
      • Mobile Platform Applications
      • Cleaning Applications
      • Others

Regional Insights:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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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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