Advanced Robotics Market Is Expected To Reach Revenue Of USD 260.9 Bn By 2033, At 20.8% CAGR: Dimension Market Research

Advancements and Projections in the Advanced Robotics Market: Insights, Trends, Opportunities, and Recent Developments

New York, Nov. 13, 2024 (GLOBE NEWSWIRE) — Market Overview

The Global Advanced Robotics Market is projected to grow from USD 47.5 billion by 2024 to USD 260.9 billion by 2033, reflecting a robust CAGR of 20.8%.

Advanced robotics systems combine AI, machine learning, and sensor technologies to enable autonomous decision-making and operation. These robots are utilized in diverse fields such as healthcare, manufacturing, and space exploration, where adaptability, precision, and interaction with dynamic environments are essential. By incorporating advanced AI, these robots continuously improve their efficiency over time, enhancing their effectiveness.

Click to Request Sample Report and Drive Impactful Decisions: https://dimensionmarketresearch.com/report/advanced-robotics-market/request-sample/

The US Advanced Robotics Market

The U.S. advanced robotics market is expected to reach USD 16.5 billion by the end of 2024 and grow to USD 82.0 billion by 2033, with a CAGR of 19.5%.

This growth is fueled by rising automation across sectors, a need for improved productivity, and an increasing demand for precision in manufacturing and healthcare. Government initiatives supporting technological innovation are driving R&D in robotics.

Key trends in the U.S. include the growing use of collaborative robots (cobots) in manufacturing to enhance safety and efficiency, as well as the adoption of autonomous mobile robots (AMRs) in logistics and e-commerce. The integration of AI allows robots to make better decisions and become more adaptable to various tasks.

Important Insights

  • Market Growth: The advanced robotics market is projected to increase by USD 204.5 billion, with a CAGR of 20.8% between 2025 and 2033.
  • Analysis by Component: The hardware segment is expected to dominate the global market, capturing the largest share by the end of 2024.
  • Analysis by Application: Industrial robots are anticipated to generate a significant portion of the market’s revenue by the close of 2024.
  • End-User Analysis: The manufacturing sector is forecasted to hold the highest revenue share in the market by 2024.
  • Regional Dominance: North America is expected to lead the advanced robotics market, contributing 41.3% of the total revenue in 2024.

Latest Trends

  • Rising AMR Adoption: Autonomous Mobile Robots (AMRs) are gaining popularity due to their flexibility, real-time navigation, and decision-making, benefiting industries like manufacturing, warehousing, and healthcare by streamlining logistics and reducing labor costs.
  • Robotics-as-a-Service (RaaS): RaaS provides businesses, especially SMEs, with affordable access to robotic solutions through subscription or usage models, lowering entry barriers.

Competitive Landscape

  • Competitive Analysis: The advanced robotics market is highly competitive, with both large and small companies offering innovative solutions across industries.
  • Moderate Fragmentation: The market is moderately fragmented and continues to trend toward increased fragmentation.
  • Key Players: Leading companies include NXP Semiconductors, Rethink Robotics, DENSO Corporation, CMA Robotics, ST Robotics, Techman Robots, ABB, Mitsubishi Electric, and Universal Robots.
  • Strategic Moves: Major players like NXP Semiconductors leverage semiconductor expertise for sensor integration, while Rethink Robotics focuses on user-friendly cobots for manufacturing and logistics.

Some of the prominent market players:

  • NXP Semiconductors
  • Rethink Robotics
  • DENSO Corporation
  • CMA Robotics
  • ST Robotics
  • Techman Robots
  • ABB
  • Mitsubishi Electric Corporation
  • Universal Robots
  • Locus Robotics
  • Other Key Players

Transform your business approach with strategic insights from our report. Get in touch to request our brochure today! : https://dimensionmarketresearch.com/report/advanced-robotics-market/download-reports-excerpt/

Advanced Robotics Market Scope

Report Highlights Details
Market Size (2024) USD 47.5 Bn
Forecast Value (2033) USD 260.9 Bn
CAGR (2024-2033) 20.8%
North America Revenue Share 41.3%
The US Market Size (2024) USD 16.5 Bn
Historical Data 2018 – 2023
Forecast Data 2025 – 2033
Base Year 2023
Estimate Year 2024
Segments Covered By Component, By Application, By End User
Regional Coverage North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)

Drivers

  • Innovation Drives Growth: Technological advancements in AI, machine learning, and sensor integration are enhancing the performance of robotics, fueling demand across industries.
  • Rising Automation Demand: The need for efficient automation solutions is a key driver of the advanced robotics market, as businesses seek to improve productivity and reduce costs.
  • Labor Shortages: Labor shortages in sectors like manufacturing and logistics are pushing companies to adopt robotics to maintain productivity.

Restraints

  • Skill Shortage: A lack of skilled professionals to operate and maintain robotics hinders widespread implementation.
  • Deployment Challenges: Difficulty in finding qualified workers slows the effective use of robotic solutions, affecting market expansion.

Opportunities

  • Rising Cobot Adoption: Collaborative robots (cobots) are gaining traction by enhancing productivity and safety through human-robot collaboration.
  • Accessibility for Smaller Operations: Cobots make automation feasible for smaller businesses, promoting more widespread use of robotics.
  • Healthcare Robotics Demand: The healthcare sector is increasingly adopting advanced robotics, such as surgical robots and assistive devices.
  • Improved Efficiency and Outcomes: Advanced robotics in healthcare are helping improve patient outcomes and operational efficiency.

Market Analysis

Industrial robots are expected to lead the advanced robotics market in terms of revenue by 2024 due to their widespread usage in manufacturing and production settings. Robotic arms play an essential role in automating tasks requiring precision, speed, endurance, or both – including tasks in industries like automotive, electronics, metalwork, etc.

Key industries including automotive electronics metallurgy have adopted industrial robots for automating repetitive tasks and AI and machine learning have enhanced operational complexity – this robot type also proves ideal in hazardous and repetitive environments as it helps increase production efficiency whilst simultaneously cutting labor costs.

Purchase the Competition Analysis Dashboard Today: https://dimensionmarketresearch.com/checkout/advanced-robotics-market/

Advanced Robotics Market Segmentation

By Component

  • Hardware
  • Software
  • Services

 By Application

  • Industrial Robots
  • Service Robots
  • Collaborative Robots (Cobots)

By End User

  • Manufacturing
  • Healthcare
  • Aerospace & Defense

Regional Analysis

North America is projected to lead the advanced robotics sector globally with 41.3% market share by revenue by 2024. This dominance can be attributed to its strong technological cluster containing major players like Boston Dynamics and iRobot along with advanced research institutions and cutting-edge robotics being actively adopted across industries including manufacturing, healthcare, and defense with significant investments made into AI/automation solutions.

Click to Request Sample Report and Drive Impactful Decisions: https://dimensionmarketresearch.com/report/advanced-robotics-market/request-sample/

By Region

North America

  • The U.S.
  • Canada

Europe

  • Germany
  • The U.K.
  • France
  • Italy
  • Russia
  • Spain
  • Benelux
  • Nordic
  • Rest of Europe

Asia-Pacific

  • China
  • Japan
  • South Korea
  • India
  • ANZ
  • ASEAN
  • Rest of Asia-Pacific

Latin America

  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Rest of Latin America

Middle East & Africa

  • Saudi Arabia
  • UAE
  • South Africa
  • Israel
  • Egypt
  • Rest of MEA

Browse More Related Reports

  • Space Tourism Market is forecasted to reach USD 1,313.8 million by the end of 2024 and is predicted to grow to USD 40,399.0 million in 2033 with a CAGR of 46.3%.
  • Voice and Speech Recognition Market is forecasted to reach USD 24.6 billion by the end of 2024 and is predicted to grow to USD 87.6 billion in 2033 with a CAGR of 15.1%.
  • Sponge Counting System Market is projected to reach USD 198.9 million by the end of 2024 and grow exponentially to an anticipated value of USD 358.1 million in 2033 at a CAGR of 6.8%.
  • Digital Twin Market is forecasted to reach USD 24.3 billion by the end of 2024 and grow to USD 412.0 billion in 2033, with a CAGR of 36.9%.
  • Green Technology & Sustainability Market is forecasted to reach USD 29.0 billion by the end of 2024 and grow to USD 193.9 billion in 2033, with a CAGR of 23.5%.
  • Nanotechnology Market is forecasted to reach USD 5.3 billion by the end of 2024 and grow to USD 74.9 billion in 2033, with a CAGR of 34.3%.
  • Generative AI in Corporate Tax Management Market is projected to reach USD 1,927.4 million by the end of 2024 and grow exponentially until an anticipated value of USD 20,632.1 million in 2033 at a CAGR of 30.1%.
  • Generative AI in Data Labelling Solution and Services Market is projected to reach USD 15.5 billion by the end of 2024 and grow exponentially to an anticipated value of USD 99.7 billion in 2033 at a CAGR of 23.0%.
  • AI in Telemedicine Market is forecasted to reach USD 19.4 billion by the end of 2024 and is predicted to grow to USD 156.7 billion in 2033 with a CAGR of 26.1%.
  • Robotic Palletizer Market is projected to reach USD 2.0 billion by the end of 2024 and is anticipated to grow to USD 3.7 billion in 2033 at a CAGR of 7.0%.

Recent Developments

  • June 2024: Symbotic Inc. acquired the majority of Veo Robotics’ assets for USD 8.7 million. This acquisition enhances Symbotic’s capabilities in logistics automation by incorporating Veo’s technology, particularly in enhancing robot safety and facilitating collaboration with human workers.
  • June 2024: autonomous construction robots became more advanced with the ability to perform complex tasks such as laying bricks, assembling structures, and even operating heavy machinery without human supervision. These robots, powered by improved AI and vision systems, are reducing time and labor costs on large-scale construction projects.
  • May 2024: medical robotics saw a significant development with the introduction of AI-powered surgical assistants that can predict surgeons’ needs in real-time. These robots improve precision during minimally invasive surgeries and reduce operation time by assisting with sutures, incisions, and handling delicate tissues.
  • August 2023: Locus Robotics, a leader in autonomous mobile robots (AMRs), achieved a significant milestone by picking over 2 billion units—just 11 months after reaching its first billion in 2022. The company’s robots have proven to be highly effective in logistics, especially in order fulfillment.
  • February 2023: robotics has significantly contributed to reshoring initiatives in sectors like semiconductor manufacturing. Intel announced plans for new chip factories in Ohio, while Wolfspeed, in collaboration with automotive supplier ZF, unveiled intentions to construct a chip plant in Germany.

About Dimension Market Research (DMR):

Dimension Market Research (DMR) is a market research and consulting firm based in India & US, with its headquarters located in the USA (New York). The company believes in providing the best and most valuable data to its customers using the best resources analysts into work, to create unmatchable insights into the industries, and markets while offering in-depth results of over 30 industries, and all major regions across the world.

We also believe that our clients don’t always want what they see, so we provide customized reports as well, as per their specific requirements to create the best possible outcomes for them and enhance their business through our data and insights in every possible way.

CONTACT: United States 957 Route 33, Suite 12 #308 Hamilton Square, NJ-08690 Phone No.: +1 732 369 9777, +91 88267 74855 Inquiry@dimensionmarketresearch.com

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Privacy & Cookies Policy