Commercial Robotics Market to Grow by USD 31.39 Billion (2024-2028), Vendor Strategies Boost Growth, AI-Powered Market Evolution Report - Technavio

The commercial robotics market is poised for significant expansion, with projections indicating a USD 31.39 billion increase between 2024 and 2028 at a CAGR of 26.39%. This growth is driven by the increasing adoption of industrial robots, service robots, cobots, AI in robotics, machine vision, robot sensors, healthcare robots, warehouse robots, robot programming, and robot safety across industries. The integration of Internet of Things (IoT) technology with robotics is a key trend, enabling predictive maintenance, remote monitoring, and real-time data analysis. However, the high cost of robotic systems remains a challenge, particularly for small and medium-sized enterprises.Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Market Segmentation

By Application

• Medical and Healthcare
• Defense and Security
• Agriculture and Forestry
• Marine
• Others

Regional Market Trends

APAC

• China
• Japan
• South Korea

North America

• United States

Europe

• Germany

South America

Middle East and Africa

By Application Insights

The medical and healthcare segment is expected to witness substantial growth due to increasing adoption of advanced robotics, such as self-driving delivery bots and Swifti delivery robots. AI and IoT are driving development in autonomous guided drones and field robots, with companies like Boston Dynamics leading innovation with robots such as Spot. In healthcare, Softbank Robotics' Pepper 2 humanoid robots are used for patient care. Investment in medical robotics and defense technology is growing, with the Ministry of Defense and Israeli defense contractors exploring armed robots for border protection. Organizations like AGS Airports, NHS Scotland, the University of Strathclyde, NATS, and the Future Flight Challenge are advancing robotics in security and automation.

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Market Dynamics

Market Drivers

• Rising demand for commercial robotics in multiple sectors.
• Increased R&D investments and technological advancements in AI and robotics.
• Defense spending on UAVs (unmanned aerial vehicles) and UUVs (unmanned underwater vehicles) for military and security applications.
• Utilization of commercial robotics in reconnaissance and enemy tracking.

Market Trends

• Integration of IoT with robotics for enhanced automation and real-time monitoring.
• Expanding use of UAVs and UUVs for marine environmental sensing and defense applications.
• Growth of cloud computing, smart devices, and wireless technology in robotic systems.

Market Challenges

• High costs of robotic systems hindering adoption, especially in emerging markets.
• Continuous innovation increasing the overall expenses of commercial robotics.

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Key Players

• 3D Robotics Inc.
• Accuray Inc.
• AeroVironment Inc.
• Autel Intelligent Technology Co.
• General Electric Co.
• Honda Motor Co. Ltd.
• Intuitive Surgical Inc.
• iRobot Corp.
• KUKA AG
• Northrop Grumman Corp.
• OMRON Corp.
• Smith and Nephew plc
• Yaskawa Electric Corp.
• Yuneec International Co. Ltd.
• Zimmer Biomet Holdings Inc.

Future Insights

The commercial robotics market is expected to witness sustained growth, driven by advancements in AI, IoT, and automation. Companies investing in cost-effective, adaptable, and efficient robotic solutions will secure a competitive edge in the evolving landscape.