Authored By: Sarah
26 Feb 2025

Latest News- Robotics Market: Industrial is expected to lead the Application segment during 2025-2029

The Robotics Market is being driven by Emergence of medical robotics

The Robotics Market is expected to grow at a CAGR of 6.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 18790.6 million. In the Robotics market, the Robotics as a Service (RaaS) business model is gaining traction. This approach allows businesses to lease or rent robots on a monthly or hourly basis, inclusive of essential services such as upgrades, maintenance, and remote monitoring. Cloud computing technology is a significant enhancement to RaaS offerings, enabling real-time remote monitoring and diagnostics. The coming years will witness an influx of companies providing robots via RaaS to optimize product lifespan and minimize support expenses. The advancement of remote diagnostics is expected to significantly decrease operating costs and the need for onsite support. 

Get more information on Robotics Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

  • Application
    • Industrial
    • Services
  • End-user
    • Manufacturing
    • Healthcare
    • Aerospace and Defense
    • Media and entertainment
    • Others
  • Component
    • Hardware
    • Software
    • Services
  • Geography
    • APAC
      • China
      • India
      • Japan
      • South Korea
    • Europe
      • Germany
      • UK
      • France
      • Italy
    • North America
      • Canada
      • US
    • Middle East and Africa
      • South America

      According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

      • Emergence of medical robotics
      • Stringent health and safety regulations
      • Technological advances in robot hardware

      However, the market also witnesses some limitations, which are as follows:

      • Shortage of skilled personnel
      • High cost of deploying robotics
      • Regulatory hurdles associated with use of robots

      Benefits of Buying Global Robotics Market Research Report by Technavio

      Rich Experience: 20+ years leading global market research, trusted insights across industries.

      Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

      Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

      Market Scope in Robotics Market Research Report

      Market Scope

      Report Coverage

      Details

      Page number

      0

      Base year

      2024

      Historic period

      2019-2023

      Forecast period

      2025-2029

      Growth momentum & CAGR

      Accelerate at a CAGR of 6.1%

      Market growth 2025-2029

      USD 18790.6 million

      Market structure

      market_structure.ucfirst

      YoY growth 2024-2025(%)

      5.4

      Key countries

      US, China, Japan, India, Canada, South Korea, Germany, UK, Italy, and France

      Competitive landscape

      Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

      Request Free Sample

      Find out which segment is leading the market by accessing the free PDF report

      Research Analysis Overview

      The Robotics Market is experiencing significant growth due to various factors including an aging population, advancements in AI and robotics, and the integration of voice commands and connectivity. This growth is evident in sectors such as automation, consumer robots, and surgical robots. Industries like manufacturing, agriculture, and healthcare are adopting robotics systems for tasks like cleaning, intralogistics, and supply chain management. Collaborative robots and service robots are also gaining popularity in sectors like entertainment and education. Drones and agricultural robots are further expanding the market's reach. Overall, digitization and the STEM education ecosystem are fueling the demand for robotics technology.

      Market Research Overview

      The global electronic equipment and instruments market, a significant segment of the larger electronics industry, encompasses manufacturers of test and measurement equipment, technology hardware, electronic components, and industrial electronics. According to Technavio's market analysis, key growth drivers for this sector include the escalating demand for advanced electronic testing solutions. This demand is fueled by digitalization and technological advancements in various industries such as semiconductors, automotive, IT, consumer electronics, energy, industrial, and medical devices. Additionally, the integration of AI and robotics, including athletic AI and cognitive AI, into industrial processes, as well as the increasing popularity of consumer robots and connectivity, further bolsters market expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.


      Contacts

      Technavio Research
      Jesse Maida
      Media & Marketing Executive
      US: +1 844 364 1100
      UK: +44 203 893 3200
      Email: media@technavio.com
      Website: www.technavio.com/

      Read News Read Less
      Interested in this report?
      Get your sample now!

      Safe and Secure SSL Encrypted

      Technavio

      • 2500 USD

      [5 reports/month/user]

      • 5000 USD

      close
      • Basic Plan [5000 USD/Year]:

        Single User
        Download 5 Reports/Month
        View 100 Reports/Month
        Add upto 3 Users at 625 USD/user

      • Teams Plan [7500 USD/Year]:

        5 User
        Download 5 Reports/Month/User
        View 100 Reports/Month/User
        Add upto 30 Users at 500 USD/user

      *You can upgrade to Teams plan at Subscription page

      close
      • Single:

        One user only.
        Quick & easy download option

      • Enterprise:

        Unlimited user access (Within your organization).
        Complimentary Customization Included

      *For Enterprise license, go to checkout page

      Technavio Get the report (PDF) sent to your email within minutes.