Robotics Market to Hit $205.5 Billion by 2030
â–¼ Summary
– The global robotics industry is projected to grow from $90.2 billion in 2024 to $205.5 billion in 2030, with a 15% compound annual growth rate.
– Exoskeletons, drones, logistics robots, and consumer robots are identified as the fastest-growing segments between 2024 and 2030.
– Exoskeletons are expected to grow at the highest CAGR of 38%, followed by drones at 19% and logistics robots at 18%.
– AI, cloud computing, and neuromorphic processors are enhancing robots’ decision-making, autonomy, and power efficiency.
– Humanoid robots are advancing with support from major companies but face challenges like high costs and social acceptance issues.
The global robotics market is on a remarkable growth trajectory, projected to surge from $90.2 billion in 2024 to a staggering $205.5 billion by 2030. This expansion reflects a robust compound annual growth rate of 15 percent, driven by the technology’s diverse and expanding applications across numerous sectors. A recent strategic intelligence report highlights several key segments poised for exceptional growth in the coming years.
Exoskeletons, drones, logistics robots, and consumer robots are identified as the fastest-growing categories between 2024 and 2030. Exoskeletons are forecast to experience explosive growth at a 38% CAGR, although they are starting from a relatively small revenue base of just $0.6 million in 2024. Drones follow as the second fastest-growing segment with a 19% CAGR, while logistics robots are expected to grow at an 18% rate.
Within the broader market, industrial robots generated sales of $24.6 billion in 2024, representing 27% of the total robotics market. This segment is anticipated to reach $36.7 billion by 2030, growing at a 7% CAGR. In contrast, the service robot market was significantly larger at $65.6 billion in 2024 and is projected to remain the dominant sector, expanding at a 17% CAGR to reach $168.8 billion by the end of the forecast period.
An industry analyst notes that advancements in precision mechanical components are enhancing capabilities across the board, from care robots to humanoid models. Technologies initially developed for collaborative robots in factory settings are now being refined for surgical robots working alongside medical professionals. This cross-pollination of innovation demonstrates the wide-reaching implications of progress within the robotics industry.
Artificial intelligence is fundamentally transforming robotic capabilities, enabling machines to collaborate, access vast datasets continuously, and make independent decisions. Through AI integration, robots can move autonomously and navigate their environments, though certain limitations remain. Another promising development involves neuromorphic processors, which mimic the structure of the human brain. These power-efficient chips could become crucial components in the next generation of robotic systems.
Robots are becoming both more dexterous and more intelligent, creating greater value for human applications in workplaces and homes. The combination of enhanced physical capabilities with heightened intelligence allows robots to perform more complex tasks effectively.
The development of humanoid robots represents another significant frontier, with major automotive manufacturers like Tesla and Toyota joining startups in this space. These multi-purpose machines designed to mimic human actions could potentially address labor shortages in developed economies and perform hazardous jobs currently done by people. However, the path forward includes challenges such as high component costs, skepticism about their practical utility, and questions regarding social acceptance.
Despite these hurdles, impressive progress continues in humanoid robotics. When combined with rapid AI advancements, this progress raises profound questions about when robots might become indistinguishable from humans and what the implications of that milestone will be for society.
(Source: ITWire Australia)