According to a new report, published by KBV research, The Global Robotics Technology Market size is expected to reach $279.52 billion by 2031, rising at a market growth of 14.8% CAGR during the forecast period.
Robots can be deployed in dangerous environments to perform tasks that would be hazardous to human workers. In mining, oil and gas, and defense industries, robots are used for tasks like inspection, exploration, and bomb disposal, minimizing risk to human workers.
The Traditional Industrial Robots segment is experiencing a CAGR of 14.1 % during the forecast period. These robots are widely used in manufacturing industries for assembly, welding, material handling, and painting tasks. Their ability to operate at high speeds with precision and reliability makes them a crucial part of automated production lines. The growing demand for mass production and advancements in robotics have fuelled the adoption of traditional industrial robots across automotive, electronics, and heavy machinery sectors.
The Hardware segment led the maximum revenue in the Global Robotics Technology Market by Component in 2023, thereby, achieving a market value of $149.6 billion by 2031. This dominance is driven by the essential role of hardware components, including robotic arms, sensors, actuators, controllers, and power supply systems, in the construction and functionality of robots. The growing demand for advanced robotics in manufacturing, healthcare, logistics, and agriculture has spurred the need for robust, high-performance hardware.
The Manufacturing segment is growing at a CAGR of 14 % during the forecast period. Robotics plays a pivotal role in manufacturing by automating assembly, welding, packaging, and quality control tasks. Integrating industrial robots has enhanced efficiency, precision, and production rates, reduced operational costs, and minimized human error. Industries such as automotive, electronics, and consumer goods are among the largest adopters of robotic technology, driving growth in this segment.
Full Report: https://www.kbvresearch.com/robotics-technology-market/
The Asia Pacific region dominated the Global Robotics Technology Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $107.8 billion by 2031. The North America region is anticipated to grow at a CAGR of 14.1% during (2024 - 2031). Additionally, The Europe region would witness a CAGR of 14.3% during (2024 - 2031).
By Robot Type
By Component
By Application
Unique Offerings 
