The commercial robots global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Commercial Robots Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The commercial robots market size has grown exponentially in recent years. It will grow from $20.74 billion in 2023 to $24.9 billion in 2024 at a compound annual growth rate (CAGR) of 20%. The growth in the historic period can be attributed to increased demand for automation, growing need for efficiency and productivity, growing awareness of safety concerns, increasing investment in research and development, growing interest in robotics as a service (RaaS) models, growing applications of robots in the construction industry, growing acceptance of collaborative robots (cobots).
The commercial robots market size is expected to see exponential growth in the next few years. It will grow to $52.01 billion in 2028 at a compound annual growth rate (CAGR) of 20.2%. The growth in the forecast period can be attributed to increasing demand for automation, rising awareness about the benefits of robotics in healthcare, increasing emphasis on logistics and warehousing efficiency, growing investments in robotic startups, rising demand for robotic automation solutions, increasing demand for autonomous vehicles. Major trends in the forecast period include increasing integration of artificial intelligence and machine learning, rising adoption of Internet of Things (IoT) technology, growing trend of smart factories, increased adoption of collaborative robots, growing adoption of robotic process automation (RPA), integration of advanced sensors such as LiDAR, adoption of robotics in small and medium sized enterprises (SMEs), rise in adoption of telepresence robots, integration of drones, advancements in robotic hardware technologies.
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Scope Of Commercial Robots Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Commercial Robots Market Overview
Market Drivers –
The commercial robots market size has grown exponentially in recent years. It will grow from $20.74 billion in 2023 to $24.9 billion in 2024 at a compound annual growth rate (CAGR) of 20%. The growth in the historic period can be attributed to increased demand for automation, growing need for efficiency and productivity, growing awareness of safety concerns, increasing investment in research and development, growing interest in robotics as a service (RaaS) models, growing applications of robots in the construction industry, growing acceptance of collaborative robots (cobots).
The commercial robots market size is expected to see exponential growth in the next few years. It will grow to $52.01 billion in 2028 at a compound annual growth rate (CAGR) of 20.2%. The growth in the forecast period can be attributed to increasing demand for automation, rising awareness about the benefits of robotics in healthcare, increasing emphasis on logistics and warehousing efficiency, growing investments in robotic startups, rising demand for robotic automation solutions, increasing demand for autonomous vehicles. Major trends in the forecast period include increasing integration of artificial intelligence and machine learning, rising adoption of Internet of Things (IoT) technology, growing trend of smart factories, increased adoption of collaborative robots, growing adoption of robotic process automation (RPA), integration of advanced sensors such as LiDAR, adoption of robotics in small and medium sized enterprises (SMEs), rise in adoption of telepresence robots, integration of drones, advancements in robotic hardware technologies.
Market Trends –
Major companies operating in the commercial robots market are developing collaborative robotics (cobots) to enhance efficiency, productivity, and safety in various industries. Collaborative robots work alongside humans in a shared workspace, improving efficiency and flexibility in various industries. For instance, in February 2021, ABB, a Switzerland-based robotics and automation company, launched its new generation of collaborative robots, the YuMi series. These robots can securely engage with people and swiftly and precisely do complex jobs because of their sophisticated sensors and machine learning algorithms. It was specifically designed to meet the flexible and agile production needs of the consumer electronics industry, but has applications in any small parts assembly environment.
The commercial robots market covered in this report is segmented –
1) By Type: Field Robots, Medical Robots, Autonomous Guided Robotics, Drones, Other Types
2) By Technology: Automatic, Semi-Automatic, Manual
3) By Application: Medical And Healthcare, Defense And Security, Agriculture And Forestry, Marine, Other Applications
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Regional Insights –
North America was the largest region in the commercial robots market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the commercial robots market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the commercial robots market are developing collaborative robotics (cobots) to enhance efficiency, productivity, and safety in various industries. Collaborative robots work alongside humans in a shared workspace, improving efficiency and flexibility in various industries. For instance, in February 2021, ABB, a Switzerland-based robotics and automation company, launched its new generation of collaborative robots, the YuMi series. These robots can securely engage with people and swiftly and precisely do complex jobs because of their sophisticated sensors and machine learning algorithms. It was specifically designed to meet the flexible and agile production needs of the consumer electronics industry, but has applications in any small parts assembly environment.
Table of Contents
1. Executive Summary
2. Commercial Robots Market Characteristics
3. Commercial Robots Market Trends And Strategies
4. Commercial Robots Market – Macro Economic Scenario
5. Global Commercial Robots Market Size and Growth
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32. Global Commercial Robots Market Competitive Benchmarking
33. Global Commercial Robots Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Commercial Robots Market
35. Commercial Robots Market Future Outlook and Potential Analysis
36. Appendix
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