Robotics Market Trends

Statistics for the 2023 & 2024 Robotics market trends, created by Mordor Intelligence™ Industry Reports. Robotics trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

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Market Trends of Robotics Industry

Service Robotics is Expected to Witness Significant Growth

  • Service robots are robotic solutions developed specifically to assist human workers in completing service-related tasks efficiently and conveniently. By using an internal control system that can also be controlled manually, these robots provide fully or semi-automatic services through the combination of a mobile base and a robotic arm in some cases. Service robots find various applications across various sectors, including residential/personal use, industrial, commercial, etc.
  • The demand for service robots has grown significantly in the medical sector. As medical robot systems-assisted surgeries increase, product innovation rates in the market are also anticipated to increase further. In June 2024, Meril, a medical devices company based in Gujarat, unveiled its latest innovation: the MISSO surgical robotic technology. This cutting-edge system is designed to aid doctors during knee replacement surgeries in real-time. Meril anticipates that MISSO could potentially reduce the cost of these surgeries by up to 66%.
  • According to NIOSH, healthcare workers have among the most hazardous industrial jobs in the United States, with the highest number of nonfatal occupational injuries and illnesses. Reputed organizations like MIT and the University of Michigan are working on the technology to deliver small and compact robots to the medical sector to enhance their usability and application areas.
  • In May 2024, Medtronic (announced its commencement of further clinical trials for its Hugo robotic-assisted surgery system. The aim is to broaden its applications to include hernia and gynecological procedures. These studies are crucial as Medtronic gears up for an FDA submission for the expanded use of the Hugo RAS system. With a growing presence in 25 countries and over 100 scientific publications worldwide, Medtronic is now eyeing three distinct applications for its Hugo system.
  • The aging population is also one of the primary drivers of the significant increase in the deployment of service robots in domestic healthcare and assistance applications. According to data from the United Nations, the global population of people over 65 years is expected to grow significantly and may account for about 16% of the global population by 2050.
  • According to IFR, robots for domestic tasks constituted the largest group of consumer robots. Vacuuming and other indoor domestic floor cleaning robots are currently the most used applications. In 2023, the shipments of robots for domestic tasks and entertainment robots are anticipated to reach 48.6 million and 6.7 million, respectively. Such developments are expected to drive the market's growth in the future.
Robotics Market - Personal and Domestic Service Robot Shipments, in Million Units, Global, 2018-2023

Asia-Pacific Holds a Major Market Share

  • Asia-Pacific is anticipated to hold a significant market share due to the considerable adoption of robots owing to rapid growth in the industrial and automation sectors. With notable expansions in countries like China, India, and Japan, the industrial sector is a catalyst propelling the robotics industry in Asia-Pacific. Sectors like automotive and packaging increasingly leverage diverse robotic applications to enhance operational efficiency. According to IFR, China, Japan, and South Korea are among the top three countries in Asia-Pacific that have adopted industrial robots. China is also the leading country globally.
  • The growing automotive industry and increased demand for autonomous and battery electric vehicles create new market opportunities. For instance, data from the Society of Indian Automobile Manufacturers (SIAM) for 2023 revealed that India produced around 25.93 million vehicles, of which 4.58 million were passenger vehicles, representing a significant surge compared to previous years.
  • South Korea and China are dominant in adopting robotics due to the massive electronic and automotive manufacturing industry deployment. According to the IEA, new electric car registrations in China hit 8.1 million in 2023, marking a 35% increase from the previous year as consumers switched from gas-guzzler models due to government subsidies and high oil prices. The region's automotive sector is anticipated to remain among the leading contributors to the growth of the robotics industry as the entry of global automotive players who spend big on advanced production technologies significantly drives the adoption of industrial robots.
  • With the electrification trend becoming mainstream in the automotive sector, investment in new product plants is anticipated to grow significantly, creating opportunities in the studied market. By 2050, the Japanese government aims to ensure that all new cars sold in Japan will be electric or hybrid. Such trends create a favorable outlook for the growth of the market studied.
  • The region also faces an aging population, mainly in countries such as China, South Korea, and Japan. According to the Institute of Population and Social Security Research, the population aged 65 and over 65 is anticipated to make up about 40% of the people in Japan by 2070. Considering such trends, government organizations plan to rely more on robots for various purposes, including companionship, as a workforce, and to provide services. For instance, the Housing Development Board (Singapore) intends to adopt autonomous drones or robots to identify which parts of public housing blocks need cleaning. The primary aim is to reduce the water required to clean by focusing only on the dirty areas.
Robotics Market - Market CAGR (%), By Region, Global

Robotics Industry Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)