Analysis of Robotics Technology Market Size by Research Nester Reveals the Market to grow with a CAGR of 15.3% during 2024 -2036
Research Nester’s recent market research analysis on “Robotics Technology Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitor’s analysis and a detailed overview of the global robotics technology market in terms of market segmentation by component, robot type, application, and by region.
Increased Integration of AI and Machine Learning to Promote Global Market Share of Robotics Technology
The global robotics technology market is estimated to grow majorly on account of the growing integration of advanced technologies such as AI and ML in robotics. Robotics has benefited greatly from artificial intelligence, which has increased automation, precision, and flexibility. AI can also be used to create computer systems that are more efficient and improve customer service through the use of intelligent virtual assistants. Furthermore, to improve robot vision, decision-making, and control, machine learning techniques including deep learning, reinforcement learning, and neural networks are being applied. Also, various companies are developing AI-based robots which is accelerating the market growth. For instance, in March 2024, ABB Robotics unveiled its first Flexley Tug T702 autonomous mobile robot, which has AI-based Visual SLAM navigation technology and the new AMR Studio software, allowing first-time robot users to simply create and control large fleets of mobile robots. The new capabilities simplify configuration and can reduce commissioning time by up to 20%, paving the path for a workplace in which intelligent robots function independently in the face of a serious skilled labor shortage.
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Some of the major growth factors and challenges that are associated with the growth of the global robotics technology market are:
Growth Drivers:
• Surge in the demand for service robots
• Increased development of humanoid robots
Challenges:
Deploying robotics is costly and involves investment risk. Although most businesses will eventually recoup their investment, there are significant short-term expenses. As a result, high implementation costs could prevent the market for robotics technology from expanding.
By application, the global robotics technology market is segmented into manufacturing, healthcare, aerospace & defense, media & entertainment, and logistics. The healthcare segment is to garner a highest revenue by the end of 2036 by growing at a significant CAGR over the forecast period. The increasing usage of robots to help surgeons do less-invasive surgeries is responsible for the segment's growth. With the use of robotic surgical devices, such as the da Vinci system, doctors may execute intricate surgeries with greater precision and faster patient recovery. The number of civilian hospitals operating five or more da Vinci systems on a single site has increased 400% in the previous three years, according to the National Institutes of Health. Furthermore, robots in healthcare aid in the automation of laboratory procedures, improving efficiency and lowering errors, by helping with sample processing and sorting. In a similar vein, telemedicine robots provide remote patient monitoring and consultation, which increases accessibility to healthcare services.
By region, the North America robotics technology market is to generate the highest revenue by the end of 2036. This growth is anticipated by the need for robotics solutions in supply chain management and last-mile delivery is also rising due to the growth of e-commerce and logistics, which is driving the market's expansion. Customers' strong interest in efficiency and automation in the quickly changing robotics market is driving up demand for sophisticated robotics systems. The desire for more efficient operations and a move toward smart manufacturing processes are the driving forces behind this development.
This report also provides the existing competitive scenario of some of the key players of the Universal Robots A/S, Boston Dynamics, Northrop Grumman Corporation, ABB Group, Staubli International AG, KUKA AG, Scythe Robotics, Inc., Anduril Industries, iRobot Corporation, Rethink Robotics, and others
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https://www.researchnester.com/reports/robotics-technology-market/6366
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