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Robotics and Automation

Demand for automation driven by a higher cost of human labor has led to the growth of the robotics industry. Although companies can find it challenging to justify the cost of robot installation, in the long run, they will see that the cost of operating these robots is far lower compared to human wages. Robots also improve safety and accuracy. And, of course, robots don’t get sick or tired, and they also don’t spread viruses. Indeed, robots have become essential workers in many industries. 

Robotics market valued at 41 billion USD in 2020

The global robotics market is valued at 41 billion USD in 2020, according to Statzon’s aggregated data. This number is expected to grow by 270% in 2026. Furthermore, as demands for robots increase, numerous start-ups are joining the field, further enhancing the market’s growth.

The robotics industry is still relatively young, but it has delivered amazing progress. The promise of more innovative and forward-thinking technology in science fiction that we once dreamed about now seems within reach. While companies and scientists are working toward that dream, here are some of the robots that are currently working, interacting, and sharing space with us. 

statzon robotics market data
statzon robotics market data

Robotics market valued at 41 billion USD in 2020

The global robotics market is valued at 41 billion USD in 2020, according to Statzon’s aggregated data. This number is expected to grow by 270% in 2026. Furthermore, as demands for robots increase, numerous start-ups are joining the field, further enhancing the market’s growth.

The robotics industry is still relatively young, but it has delivered amazing progress. The promise of more innovative and forward-thinking technology in science fiction that we once dreamed about now seems within reach. While companies and scientists are working toward that dream, here are some of the robots that are currently working, interacting, and sharing space with us. 

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factory

Industrial Robots

Next Move Strategy Consulting reported that the global market for industrial robots was valued at around 32.2 billion USD in 2021. Factors such as increased demand for automation, high cost of human labor, governmental support, and advancement of R&D will push the market value to grow at a CAGR of 12.1%.

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precision_manufacturing

Collaborative Robots

Statzon aggregate data estimated the global collaborative robot market value at around 1.2 billion USD in 2021 with a sales volume of 32,200 units. The market is expected to grow in the future with a CAGR of +40%

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electric_rickshaw

Mobile Robots

Mobile robots have one of the fastest-growing markets in the robotic industry with a CAGR of 21%, based on a report from Next Move Strategy Consulting. The market value is estimated at around 10 Billion USD in 2020 and is predicted to reach 72.5 billion USD by 2030.

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local_hospital

Medical Robots

The growing application of robotics in the medical field, coupled with advancements in robotics technology, is expected to drive the growth of the medical robot market. Market Research Future estimated the market size for medical robots to be around USD 10,7 billion in 2021.

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