Robotics Industry Statistics 2024

Introduction

Robotics Industry Statistics: The robotics industry is currently experiencing a tremendous growth and has become a reality rather than just a science fiction concept. Robots are now commonly used as industrial workers across various global factories, ranging from car factories to vacuum cleaners. Currently, approximately 3.4 million robots are operating worldwide in various industries. This paper includes a range of effective analyses and current trends gathered from different insights in 2023 and 2024. So let’s delve into some interesting statistics to get a better sense of the size and growth of the robotics industry.

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• The global revenue for the robotics industry is expected to be $42.82 billion by the end of 2024.
• According to an analysis by Statista, the market size of the robotics industry will grow to $65.59 billion by 2028.
• From 2024 to 2028, the robotics industry will grow at a yearly rate of 11.25%.
• In 2024, the service robotics segment will be the largest part of the global robotics industry, valued at $3.50 billion.
• The United States will generate the most money in the robotics industry in 2024, totaling $7,846 million.
• In 2023, autonomous mobile robots made up 30.77% of the robotics market, while other types of robots accounted for 69.23%.
• The number of industrial robots installed in the Asia/Australia region is expected to increase by 370,000 units by 2024.
• About 2,000 AI-powered robots are in use worldwide according to the latest data.
• The medical industry uses the most robots, with 27.25% of all robotics implementations.
• In 2024, about 518,000 industrial robots are expected to be shipped worldwide.

Robots vs. Humans: Working Together?

While some may fear robots taking over jobs, the reality is more collaborative. The current robot-to-human ratio in manufacturing is 1 robot for every 71 human workers. This suggests that robots augment human capabilities rather than replace them entirely. Interestingly, industrial companies are planning to invest a quarter (25%) of their capital in automation over the next five years, indicating a strong belief in the value robots bring.

Beyond the Factory Floor: Service Robots on the Rise

Industrial robots might be the dominant force today, but service robots are poised to make a significant mark. Service robots encompass a wide range of machines, from surgical assistants in hospitals to robotic vacuum cleaners in our homes. Revenue from service robotics has already surpassed $16 billion, and experts predict continued growth in the coming years. This rise suggests robots will play an increasingly prominent role in everyday life, not just in factories.

General Robotics Industry Statistics

• In February 2023, the operational robotics segment made a renewed record of 3.5 million units.
• The installation value of all robots has reached an estimate of $15.7 billion.
• The Robotic Industry Statistics also declared that in the future, around 20 million manufacturing jobs (i.e., 3.3 times the current number of jobs) will be replaced by robots.
• The shipments of industrial robots will be 518,000 units by the end of 2024.
• Moreover, the market valuation of the military robotics segment is supposed to grow to $16.5 billion by 2025.
• In the Robotics Industry segment, approximately 150,000 workers are employed in the engineering department.
• The robotic automation infrastructure was implemented by 88% of organizations in 2023.

(Source: buttercms.com)

• The market size of the AI robot market will be about $184.75 billion by 2023.
• More than 4 million robotics commercial warehouses will be installed by 50,000 warehouses globally by 2025.
• Approximately 90% of businesses will adopt robotics by 2030.
• According to Robotics Industry Statistics, the worldwide robot installations in 2023 are estimated to increase by 7% from last year, resulting in an increase of above 590,000 units by 2024, 600,000 units by 2026, and 700,000 units by 2026.
• The United States, China, the Republic of Korea, Japan, and Germany are the top 5 countries that have installed robotics by 79% in 2023.

Types of Robots

• In the fiscal years 2023 and 2024, most used industrial robots are capable of doing every work very effectively, starting from building cars, manufacturing parts, and surgeries,
• 87% of companies worldwide are currently using traditional industrial robots.
• 55% of companies use collaborative robots, which can easily work without any human contact.

Robotics Industry Statistics by Revenue

(Source: statista.com)

• The above line graph represents the robotics industry as having two distinct segments: industrial robotics and service robotics.
• Thus, revenue generated by both segments of the robotic industry was $40.74 billion in 2023 and is estimated to be $42.81 billion by 2024.
• Meanwhile, revenue generated in the coming years will be 2025 ($47.28 billion), 2026 ($52.68 billion), 2027 ($58.48 billion), and 2028 ($65.59 billion).

Market Drivers

(Source: statista.com)

• A report published by Statista on Robotics Industry Statistics states that the main factor responsible for the robotics industry’s market growth in 2023 was the 3.2% GDP growth rate increase.
• The other market drivers for the industry’s value change were labor shortages, which increased by 1.9%, followed by the impacts of inflation (+1.4%), the aging population (+0.3%), chip shortages (-0.4 %), and the impacts of the Russia-Ukraine war (-4.1
• The3, the total market growth of the robotics industry was 2.3% in fiscal year 2023e 2.3%.

Robotics Industry Statistics by Companies

Company	Revenue (In Billions USD)	Market Cap (In Billions USD)
Honda Motor	142	42
Siemens AG	97	75
Sony	79	78
Denso Corp	47	227
Midea Group	39	52

(Source: zippia.com)

• Globally, the five biggest robotics investment companies were Honda Motor, Siemens AG, Sony, Denso Corporation, and Midea Group, which is taken from a report published by Zippia
• In the robotics industry, the highest revenue and market capitalization was considered by Honda Motor, resulting in $142 billion and $42 billion, respectively, in 2023.
• Besides, the next top companies revenue and market cap earnings include Siemens ($97 billion and $75 billion), Sony ($79 billion and $78 billion), Denso Corp. ($47 billion and $227 billion), and Midea Group ($39 billion and $52 billion).
• The robot installation statistics depending on industry type were electronic (137K), Automotive (119K), metal and machinery (64K), plastic and chemicals (24K), and food (15K).

Robotics Industry Statistics By Industry Share

(Reference: statista.com)

• According to Robotics Industry Statistics, in 2024, the maximum implementation of robotics was made by the medical industry segment, holding a share of 27.25%.
• The domestic services and Entertainment industry captured a share of 19.63% and 9.59%, respectively, in implementing robotics.
• In addition, 6.86% and 5.84% were covered by the electric or electronic industry and the automotive industry, respectively.
• The other industries’ shares include logistics (5.73%), agriculture (3.68%), chemicals (1.95%), other service industries (9.75%), and other industries (6.67%).

Revenue of Robotics Industry Statistics by Region

• Based on a Statista report analysis, Asian companies generated approximately one-third of the global industry’s revenue, which was $13.5 billion in 2023. The revenue rate will grow to around $16 billion by the end of 2028.
• In 2023, North American companies generated around $9.39 billion in revenue, while Central and Western European companies generated $9.02 billion.

Asia Leads the Robotics Race

The Asia Pacific region is currently the frontrunner in the robotics industry, holding a market share of 46% in 2022. This dominance is likely due to several factors, including a large manufacturing base and government support for automation initiatives. However, other regions like North America and Europe are expecting to see significant growth in the coming years.

Market Volume of Industrial Robotics by Region

(Reference: statista.com)

• As mentioned in Robotics Industry Statistics, by 2024, the regional market volumes of industrial robotics will secure the highest result in the Asian region, resulting in 263.4 thousand units.
• The other regions’ market volumes are represented by Europe (84.86K units), North America (56.79K units), South America and the Caribbean (22.81K units), Africa (7.93K units), and Australia and Oceania (1K units).
• In 2023, the industry’s regional market volume was Asia (269.4K units), followed by Europe (79.75K), North America (56.05K), South America and the Caribbean (22.24K), Africa (6.94K), and Australia and Oceania (0.96K).
• From 2025 to 2028, predicted market volume of the rest other regions will be: Asia (258.5K, 254.4K, 250.7K, and 247.1); Europe (87.78K, 90.5K, 92.38K, and 94.27K); North America (57.6K, 58.31K, 59.07K, and 59.82K); South America and the Caribbean (23.37K, 23.72K, 23.88K, and 24K); Africa (8.71K, 9.15K, 9.52K, and 9.89K); and Australia and Oceania (1.05K, 1.09K, 1.13K, and 1.17K) respectively.

Total Number of Robots Installment and Price by Segments

(Reference: statista.com)

• In 2023, the total number of robots installed in the industrial robotics segment was 2.87 million, and in service robotics, it was 0.43 million.
• As of 2024, the estimated number of installed robots in industrial and service robotics will be 2.91 million and 0.44 million, respectively.
• Total number of robots installment with coming years prediction in industrial robotics and service robotics will be 2025 (3.20 million and 0.44 million), 2026 (3.51 million and 0.44 million), 2027 (3.88 million and 0.44 million), and 2028 (4.34 million and 0.44 million), respectively.
• In 2023, the price per newly installed robot in industrial robotics was $20.42K, and in the service robotics segment, it was $11.11K.
• The estimated price of installed robots in coming years in industrial and service robotics segments will be 2024 ($21.35K and $11.51K), 2025 ($22.07K and $11.77K), 2026 ($22.70K and $12.17K), 2027 ($23.27K and $12.44K), and 2028 ($23.80K and $12.71K), respectively.

Annual Installation of Robots

(Source: ifr.org)

• A report focused on the International Federation of Robotics depicts that in global industries and factories, the installation of industrial Robots resulted in 553 K and a growth rate of 7% by 2023.
• Furthermore, in the coming years, the installation rates of industrial robots are predicted to increase, such as in 2024 (622K), 2025(662K), and 2026 (718K).
• 73% of deployed robots were installed In Asia around 2023, followed by Europe (10%) and the United States America (10%).

Robotics Industry Statistics by Country Revenue

(Source: statista.com)

• The United States of America will generate the highest revenue by 2024, resulting in $7.85 billion, which will reach $9.33 billion by 2028.
• China is the second biggest revenue-generating country in the robotics industry segment, which is supposed to account for $6.82 billion in 2024.
• Furthermore, revenue amounted to other top countries, including Germany ($3.12 billion), Japan ($2.53 billion), and South Korea ($1.64 billion).

Sales of Industrial Robots

(Reference: statista.com)

• The Robotics Industry states that the total sales of industrial robots in 2023 were 593 thousand units.
• Meanwhile, in 2024, sales are supposed to grow to around 622 thousand units.
• The predicted sales units of industrial robots in 2025 and 2026 are 662K and 718K, respectively.

Robotics Industry Statistics by Industrial Automation

• Over the next five years, global industrial companies such as logistics, automotive, and healthcare are planning to invest 25% of their capital in robotics for advanced automation systems.
• In industrial automation, the top use cases are palletization and packaging, in which 83% of manufacturers are currently planning to invest in robotics.
• Other manufacturers’ industrial automation use cases include material handling (82%), goods receiving and storage (80%), material handling and forklifts (77%), and sorting (75%).

Robotics Industry Workers Statistics

• 14% of global workers will have lost their jobs after industrial automation via robotics by 2023 end, and up to 47% of individual jobs will have been replaced by automation.
• However, only 29% of robotics industry workers have secured positions.
• A report released by Exploding Topics on Robotics Industry Statistics explains that 65% of robotics engineers have a bachelor’s degree, followed by an Associate’s Degree (15%) and a High School Diploma (3%).
• The average annual salaries of robotic engineers with bachelor’s degrees ($99,309), master’s degrees ($112,368), and doctorates ($124,995) were.

Robots Industry Investment Statistics

• The Robotics Industry companies are likely to invest around 25% of their capital in robots by the next five years.
• In 2023, 23% of retail manufacturing industries spent almost $500 million on impaling robots and automation.
• 15% of global food and beverage manufacturers spent nearly $500 million on upgrading robotics systems.

The Robots We Build: Hardware Rules

Hardware dominates Hardware dominates the robotics market. In 2022, hardware components like robot arms and sensors held a substantial 72% market share. Software, which controls the robots’ actions, plays a crucial role as well but currently accounts for a smaller portion of the market.

The Future of Robotics Industry: A Promising Landscape

The robotics industry is brimming with potential. As artificial intelligence and sensor technology continue to advance, we can expect even more sophisticated and versatile robots. Another exciting development is the increasing adoption of collaborative robots designed to work safely alongside humans. Overall, the future of robotics looks bright, promising to revolutionize various sectors and redefine how we work and live.

• In the U.S., electronic and industrial robotics will make $5,855.9 million in revenue by 2032.
• The healthcare robotics industry is expected to receive a $3.29 billion market valuation by 2025, with a growth rate of 22.9%.
• The automotive sector is estimated to earn $447.8 million in revenue by 2027.
• The market size of robotic surgeries will be $20.98 billion by the end of 2030, with a CAGR of 15.77% from 2020 to 2030.
• Approximately 90,000 robots are currently implanted in the food industry, and the number is supposed to grow. By 2027, the market valuation will reach $6.6 billion.
• The hospital robotics market will approach $20 billion in revenue by 2028, and the nursing robotics industry will cross $1.5 billion by 2027.

Conclusion

The robotics industry is experiencing phenomenal growth, driven by factors like increasing automation needs and technological advancements. With new applications emerging all the time, robots are poised to play a significant role in shaping the future. From industrial workhorses to helpful companions in our homes, the possibilities seem endless.