Robotics - United States | Statista Market Forecast

Revenue in the Robotics market is projected to reach US$9.42bn in 2024.
Service robotics dominates the market with a projected market volume of US$8.68bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.67%, resulting in a market volume of US$14.28bn 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 United States is experiencing slow growth due to factors such as high costs, limited consumer awareness, and regulatory hurdles. Despite this, sub-markets like Industrial and Service robotics show potential for growth with increasing adoption of automation and advancements in technology.

Customer preferences: Consumers in the United States are increasingly embracing automation and advanced technologies in various industries, leading to a rise in demand for robotics solutions. This is driven by the need for increased efficiency, cost-effectiveness, and precision in manufacturing processes. Additionally, the growing trend towards smart homes and the integration of robotics and AI in household appliances is also contributing to the growth of the robotics market. Furthermore, the adoption of robotics in healthcare for tasks such as surgery and patient care is gaining traction, highlighting the potential for robotics to transform the healthcare industry.

Trends in the market: In the United States, the Robotics Market is experiencing a surge in the adoption of collaborative robots, or "cobots," which are designed to work alongside humans in industrial settings. This trend is driven by the need for increased efficiency and productivity, as well as the rising demand for automation in various industries. Additionally, there is a growing focus on the development of advanced AI and machine learning capabilities in robotics, which is expected to further drive the growth of this market. These trends have significant implications for industry stakeholders, as they will need to adapt to the changing landscape and invest in new technologies to stay competitive.

Local special circumstances: In the United States, the Robotics Market is heavily influenced by the country's advanced technological infrastructure and culture of innovation. The presence of top universities and research institutions fosters a highly skilled workforce and encourages the development of cutting-edge robotics solutions. Additionally, the country's strong regulatory framework and government support for research and development provide a favorable environment for the growth of the market. Furthermore, the high demand for automation in various industries, such as manufacturing and healthcare, drives the adoption of robotics technologies in the United States.

Underlying macroeconomic factors: The Robotics Market in the United States is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in research and development. The country's strong economy and stable regulatory environment have also contributed to the growth of the market. Additionally, the increasing demand for automation in various industries, coupled with the aging population and rising labor costs, are driving the adoption of robotics solutions. Moreover, the US government's initiatives to promote domestic manufacturing and reduce reliance on foreign imports are expected to further boost the growth of the Robotics Market in the country.

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.