The global robotics market in 2024 is valued at $45.85 billion and is projected to reach $95.93 billion by 2029, with a compound annual growth rate of 15.91%. A significant development has been Apptronik, a Tesla competitor, securing $350 million in Series A funding with participation from Google.
Robotics Market Structure
Segmentation by Robot Type:
Industrial Robots
- Automotive Manufacturing
- Food and Beverage Production
- Electronics
- Other Industries
Service Robots
- Logistics
- Military and Defense
- Healthcare and Medical
- Other Applications
Geographic Market Distribution
- Asia-Pacific Region (Market Leader)
- North America
- Europe
- Latin America
- Middle East and Africa
Latest Robotics Market News
Industry Investment
Apptronik CEO Jeff Cardenas announced plans to sell robots at car-like prices. He believes robot prices will follow a similar trajectory to televisions, where prices have significantly decreased since the introduction of flat screens.
The new funding will enable the company to scale robot development for various applications, including manufacturing and healthcare.
Key Development Forecasts
At current growth rates, the overall robotics market could exceed $300 billion by 2035. Goldman Sachs forecasts the humanoid robot segment to grow to $38 billion by 2035, representing approximately 12.5% of the total market.
According to Citibank research, there will be approximately 648 million humanoid robots worldwide by 2050. Tesla, through its Optimus project, considers this direction as one of its key growth drivers, with an estimated robot price ranging from $20,000 to $25,000.
Key Robotics Market Trends 2024
Medical Robotics
According to expert estimates, approximately 6,000 surgical robots perform one million operations annually, creating a market worth $6 billion. Recent implementations include the Da Vinci Xi surgical robot at Max Super Hospital (India).
Leading institutions, including MIT and the University of Michigan, are working on developing compact medical robots to reduce occupational risks in healthcare.
Industry 4.0 and Digitalization in robotics market
Key achievements include:
- Siemens and Google Cloud partnership in manufacturing automation
- Mitsubishi’s development of voice-controlled robot systems
- Implementation of Factory Safety Service Robot by Hyundai Motor Group
Home and Service Robotics
The sector shows significant growth:
- Household robot sales reached 19 million units (+12%)
- Cleaning robotics market valued at $60 billion
- Development of elderly care robots
Logistics Automation
The total number of operational industrial robots has reached 3.8 million units. Alibaba’s example demonstrates robotization efficiency: 70% staff reduction while creating new highly skilled job opportunities.
Robotics Development in the Asia-Pacific Region
Japan
- Elderly care robotics program
- Expected workforce shortage of 380,000 by 2025
- Transition to electric vehicles by 2050
China
- Plan to produce 35M vehicles by 2025
- Priority development of automation
- Leadership in electronics manufacturing
India
- Robotex India educational initiatives
- STEM education development
- Manufacturing robotics implementation
Singapore
- Smart city solutions
- Autonomous maintenance systems
- Urban management optimization
Leading Robotics Manufacturers
Key Robotics Market Players
- ABB Ltd. (new compact robot IRB 1010)
- Yaskawa Electric (HC-series collaborative robots)
- Denso Corporation
- Fanuc Corporation
- Kuka AG
Major development strategies of leading companies include:
- International presence expansion
- Investment in innovative developments
- Strategic partnership creation
- Collaborative robotics technology development
