Robotics - United Kingdom | Statista Market Forecast

Revenue in the Robotics market is projected to reach US$1.76bn in 2024.
Service robotics dominates the market with a projected market volume of US$1.54bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 17.32%, resulting in a market volume of US$3.92bn by 2029.
In global comparison, most revenue will be generated United States (US$9.42bn in 2024).

Definition:

The Robotics market refers to the industry that encompasses the design, development, manufacturing, and deployment of robotic systems and technologies. It involves the creation of machines that perform tasks autonomously or with minimal human intervention. These machines, also known as robots, mimic human actions and/or perform specialized functions in various sectors. These sectors include manufacturing, healthcare, agriculture, logistics, defense, and entertainment.

A robot is defined as a powered machine that is programmable on two or more axes and has some degree of autonomy; it moves within its environment to perform its programmed tasks.

Structure:

The Robotics market shows the market size of robotics in industrial and service use cases. In Industrial Robotics, there are six distinct markets:

The Automotive Industry Robotics market
The Chemical Industry Robotics market
The Electric/Electronic Industry Robotics market
The Food Industry Robotics market
The Metal Industry Robotics market
The Other Industry Robotics market

Service Robotics is further split into:

The Commercial Service Robotics market, which contains the Agriculture, Logistics, Medical and Other Service Robotics markets
The Consumer Service Robotics market, which contains the Domestic and Entertainment Robotics markets

Additional information:

Data includes revenues, volume, and the average price per newly installed robot. It also examines the level of automation, the share of collaborative robots, and investment in robotics, as well as a list of the key players in the market and their consolidated revenues. The market displays both B2B and B2C revenues, and the revenue is based on the country’s demand for robots. It is shown in manufacturer prices. Industrial Robotics does not include software revenues, as industrial robots are mostly used with specific software solutions that belong to the company that deploys them. For Service Robotics, software revenues are considered, as service robots are mostly delivered with software solutions that have been implemented by the manufacturer.

Key players in the market include Kuka, ABB, Boston Dynamics, and Yaskawa Electric Corporation.

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Industrial Robotics
Service Robotics

robots not programmable in two or more axes
robots with no degree of autonomy

The Robotics market in the UK has seen a slight decline in growth, impacted by factors such as increasing competition, slow adoption of industrial and service robotics, and uncertain economic conditions. However, rising demand for automation and advancements in technology are expected to drive market growth in the future.

Customer preferences: The Robotics Market in the United Kingdom is experiencing a significant increase in demand for advanced automation solutions, driven by the growing need for efficient and cost-effective production processes. This trend is influenced by the country's aging population and the need for increased productivity in the face of a shrinking workforce. Additionally, the rise of e-commerce and the demand for faster and more accurate order fulfillment has led to a surge in the adoption of robotics and automated systems in the warehousing and logistics sector. This shift towards automation is also driven by the desire for improved safety and precision in manufacturing processes.

Trends in the market: In the United Kingdom, the Robotics Market is experiencing a surge in demand for automation and collaborative robots in various industries such as manufacturing, healthcare, and logistics. This trend is expected to continue as companies seek to increase efficiency and reduce costs. Additionally, there is a growing interest in the use of AI and machine learning in robotics, allowing for more advanced capabilities and applications. These developments have significant implications for industry stakeholders, including increased competition and the need for upskilling and reskilling of the workforce to adapt to new technologies. As the market for robotics in the UK continues to grow, it is expected to drive innovation and productivity in various sectors, making it a crucial area for investment and development.

Local special circumstances: In the United Kingdom, the Robotics Market is thriving due to the country's advanced technology and strong investment in research and development. The market is also influenced by the country's strict regulations on data privacy and security, driving the demand for secure and ethical robotics solutions. Additionally, the UK's strong manufacturing sector and emphasis on automation have created a favorable environment for the growth of the Robotics Market.

Underlying macroeconomic factors: The Robotics Market in the United Kingdom is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in the manufacturing sector. With a strong focus on innovation and research, the country has been able to establish itself as a leading player in the global robotics market. Furthermore, the UK's stable economic health and favorable fiscal policies have created a conducive environment for businesses to thrive, leading to increased investments in the robotics industry. The rising demand for automation in various industries, coupled with the country's aging population, is also driving the growth of the robotics market in the UK.

Data coverage:

The data encompasses B2B and B2C revenues. Figures are based on the country’s demand for robotics in manufacturer prices.

Modeling approach / Market size:

Market sizes are determined through a regional bottom-up approach, and further detailed by a top-down rationale for each market segment. As a basis for evaluating markets, we use trade data of the respective economic sector. Furthermore, we use relevant key market indicators such as level of automation and digitization or the economy composition to estimate each country's specialization in demand and supply. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques but primarly exponential smoothing. The selection of forecasting techniques is based on the behavior of the relevant market.

Additional notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Despite the frightening, almost Terminator-esque, way the phrase “there are robots everywhere” might sound, the increased use of robotics has been a boon to both consumers and enterprises worldwide. The industrial robot market has seen steady growth across the globe and is expected to continue growing as automation becomes ever more vital to businesses. This stems largely from mechanical automation, reducing production costs and improving efficiency. This increased demand due to greater automation, especially in the United States and Europe, is likely to mean that the price increase per robot unit will remain modest.