Commercial Robots Market Size, Share and Trends 2024 to 2034

Commercial Robots Market Size and Forecast 2024 to 2034

The global commercial robots market size is projected to be worth around USD 169.23 billion by 2034 from USD 27.31 billion in 2024, at a CAGR of 20.01% from 2024 to 2034. The rapid growth in the industrial sector, as well as increasing urbanization, has raised the demand for commercial robots, which is estimated to drive the growth of the global commercial robots market during the forecast period.

Commercial Robots Market Key Takeaways

• Asia Pacific dominated the global commercial robots market in 2023.
• North America is expected to grow at a significant rate in the market during the forecast period.
• By type, the autonomous guided robotics segment dominated the market in 2023.
• By application, the medical & healthcare segment is expected to grow at a significant rate in the market during the forecast period.

Market Overview

The multidisciplinary study and practice of designing, building, operating, and utilizing robots is known as robotics. Most robotics research aims to create technologies that can support and aid people. Numerous robots are designed to perform tasks that pose a risk to human safety, like searching for survivors in unstable wrecks and exploring space, mines, and shipwrecks. Others take over tasks that humans find tedious, repetitive, or unpleasant, like assembly, cleaning, monitoring, and transportation.

A robot is an automated device that may be programmed to do a task; the term robotics refers to the field of study concerned with creating robots and automation. Every robot is autonomous to varying degrees. These phases go from human-controlled task-completing bots to fully autonomous bots that work independently of outside input. Robots come in a variety of forms and are employed for a wide range of purposes in a variety of settings. Mechanical construction, software, and electric components are the three fundamental aspects of their design and construction that they all share despite their many applications and forms.

The main components of a robot are the control system, actuators, power supply, and end effectors. Certain robots are built with preprogrammed functions; these robots work in a controlled environment, performing repetitive, uncomplicated jobs, similar to a mechanical arm on an assembly line for cars. Some robots are autonomous; they do tasks in open spaces without the assistance of human operators. They employ sensors to sense their surroundings in order to function, and then they use decision-making structures typically computers to determine the best course of action based on their mission and data.

Commercial Robots Market Growth Factors

• Expansion of healthcare services can foster the growth of the global commercial robots market in the near future.
• Emerging markets are setting new trends for commercial robotics, which is expected to drive the growth of the market over the forecast period.
• Increasing focus on cost reduction and production efficiency can drive the commercial robots market growth further.
• Increasing regulatory support is estimated to drive the growth of the global commercial robots market over the forecast period.
• Increasing adoption of commercial robotics to minimize operational costs is estimated to fuel the growth of the commercial robots market over the forecast period.
• The increasing launch of the new policy by the government to support equipment monitoring is expected to drive the growth of the market over the forecast period. 
• Increasing adoption of organic strategies like marketing and market expansion by the key companies is estimated to drive the growth of the global commercial robots market over the forecast period.

How is AI Changing the Robotics Industry?

AI is significantly affecting the commercial robots market as it helps in enhanced autonomy and adaptability. AI-based robots can perform complex tasks without human intervention or with less help from humans in the task. Thus, such robots can be assets for various industries like logistics, manufacturing and retail. By learning from the environmental conditions these robots can self-adapt easily to navigate in complex settings like crowded platforms, stores and warehouses etc.

AI driven robots can be revolutionary in manufacturing by optimizing the production lines with the help of data analysis from real-time conditions to improve overall productivity and efficiency of the work. To reduce operational cost in logistics repetitive work like sorting, packing and delivery process can be automated with the help of AI-powered robots. They are also useful in faster turnaround time to improve work efficiency.

• In June 2023, amazon is set to launched AI-powered robots in the fulfilment centers across united states. These robots are fully automated to perform tasks like sorting and packaging with advanced AI algorithms. The integration of AI is enabling the robots to adapt with the product sizes and shapes in real time for packaging processes.

Market Scope

Market Dynamics

Driver

Change in infrastructure and automation of the retail store

Retail stores are undergoing transformation by integrating commercial robotics into their stores, which is expected to drive the growth of the global commercial robots market over the forecast period. The introduction of commercial robots into the retail environment is among the most exciting recent advancements for merchants.

Nearly every industry is being impacted by robotics and AI, which is leading to worker reskilling, disruption, and a renewed emphasis on change management among business executives. Though they were already coming, the pandemic brought about significant changes that were incorporated more quickly than most had predicted. Along with these shifts came a quick transition from purchasing in physical stores to online and omnichannel platforms, as well as a customer base that lost brand or store loyalty in favor of convenience and quick access to necessities.

• In June 2023, according to the data published by the National Bureau of Economic Research, a non-profit organization, an estimated USD 1.75 trillion is lost by retailers annually as a result of out-of-stock, misplaced, or incorrectly priced merchandise. To solve this problem, Simbe Robotics, an automation company, created Tally, an autonomous robot that scans shelves.
• In May 2024, AutoStore, a technology company that develops order-fulfillment solutions, introduced Automated Storage and Retrieval Systems (AS/RS) for retailers. The Automated Storage and Retrieval Systems (AS/RS picks and packs items for online orders using a grid of robots that move over a 3D structure. The automated cube storage system's upward-building architecture that stacks cubes on top of one another can increase storage capacity and be added to any warehouse building.

Restraint

Challenges and high costs of automation

The challenges and limitations imposed by commercial robotics and the high initial cost for installation can restrict the growth of the global commercial robots market. Automation has several benefits, including lower costs, better quality, higher safety, increased efficiency, and data collecting and analysis. However, there are drawbacks as well, including initial investment, upkeep and repairs, less flexibility, less inventiveness, and possible job losses.

Quality assurance teams may easily interface with several systems and guarantee perfect synchronization with the help of automated retail software testing. Retail businesses mainly employ third-party interfaces to help them accomplish specific workflows on a daily basis, such as tax computations and fraud orders. Consequently, when third-party integrations are employed, the number of test cases required to test apps will increase. This is a serious problem for retail companies because it will cost more money and effort to carry out automation testing.

Opportunity

Increase in adoption of inorganic growth strategies.

Consumer or personal robots, such as adorable personal butler robots or automated floor cleaners, are not the same as commercial robots. Drones are one example of a robot form factor that can be used both for business and personal use. The key players operating in the market are focused on adopting inorganic growth strategies like partnership to increase rate of advancement and adoption of commercial robotics by industrial sector, which is expected to create lucrative opportunity for the growth of the global commercial robots market over the forecast period.

• In May 2024, Cicada Innovations, a science and innovation company; Australian Industry Group, business association, and Robotics Australia Group signed a partnership to assist the growth and scaling of robotics firms and the industry, and they acknowledge the introduction of the National Robotics Strategy. In line with the recently published National Robotics Strategy, the Robotics Growth Partnership (RGP) promotes the advancement, commercialization, scalability, and acceptance of robotics in Australia.

Type Insights

The autonomous guided robotics segment dominated the commercial robots market in 2023. A robot that is autonomous can function unsupervised on its own. It is more difficult than it would seem to accomplish that since it depends on a variety of inputs to understand what is happening in the environment around it. On the basis of these inputs, it must then make decisions.

In manufacturing plants, warehouses, and distribution centers, autonomous guided robotics systems facilitate product movement and transportation without the need for an operator or a fixed conveying system. It optimizes transport, pickup, and storage processes in a premium space environment with the use of programmable guide pathways.

Because the majority of the automatic guided vehicle systems (AGVs) were wired or fixed to the surface, they were fairly inflexible and expensive to install. Numerous advantages, such as fewer accidents, reduced labor costs, more output, and increased productivity and accuracy, may arise from this adaptability. Moreover, the field robots sub-segment is estimated to grow at a significant rate due to the increasing launch of the new corporate website, which is able to handle robots in the field with the integration of artificial intelligence.

• In October 2023, Amazon.com, Inc., an E-commerce company, announced the integration of the Digit and Sequoia systems, which will support and guide workplace safety and assist Amazon delivery to customers faster. The integration of the new technology named Sequoia has helped Amazon fulfill customer orders for holiday shopping in 2023 and 2024. Sequoia will enhance employee safety at company locations and help Amazon please consumers with faster delivery estimates and more accuracy.
• In June 2024, Realbotix company, a leading creator of humanoid robotics and relationship-based artificial intelligence, announced the launch of its new corporate website, Realbotix.ai. The new corporate site aligns with the company’s rebranding to Realbotix. Realbotix's dedication to robotics and artificial intelligence is reflected in the new domain and website, which guarantees a more unified and identifiable brand identity.

Application Insights

The medical & healthcare segment is expected to grow at a significant rate in the commercial robots market during the forecast period. Commercial robotics integrated with artificial intelligence is altering endoscopy and diagnostic imaging procedures, among other areas of medical technology. The expansion of its applications promises improved patient outcomes and precision. Each aspect of the medical field has been impacted by technology, including record administration, communication between medical teams, and diagnosis and treatment.

Hospital procedures have been expedited and enhanced by automated tools and systems, which have also decreased errors and maximized the use of resources. The key players operating in the market are adopting inorganic growth strategies like partnership and collaboration for the introduction and emergence of the healthcare robotic startup and setting new trends in the medical field, which is expected to drive the growth of the segment over the forecast period.

• In January 2024, MassRobotics, an independent, non-profit hub that serves for automation of various industries, along with partners the MITRE Corporation, a non-profit organization; Novanta Inc., Mitsubishi Electric, an electronic company; and FESTO, a machine manufacturing company revealed the Healthcare Robotics Startup Catalyst III Cohort.

Regional Insights

Asia Pacific dominated the global commercial robots market in 2023. Asia Pacific is predicted to increase significantly due to the region's increasing levels of automation in industrial manufacturing and technological advancements. The significant and powerful economies of China, India, and Japan propel the Asia-Pacific market. The two key growth drivers driving industrial automation are also expanding government initiatives in the manufacturing sector and a heightened emphasis on economic diversification in developing countries.

The increasing density of commercial robots in the regional market is the most promising factor expected to propel the market's notable growth throughout the forecast period. The emergence of new market players for commercial robotics is expected to drive the growth of the commercial robots market in the region over the forecast period. Increasing innovation, research, and development activity for the introduction of commercial robots to the agriculture and forest sector in the region is expected to foster the growth of the commercial robots market in the near future.

• In April 2024, LionsBot International, a robotic solution-providing company based in Singapore, Malaysia, revealed the introduction of its newly launched state-of-the-art cleaning robot factory in Southeast Asia. The opening of this factory, which is Southeast Asia's largest manufacturing and research and development center for cutting-edge cleaning robotics technology, is a major step in positioning Singapore at the forefront of the cleaning robotics industry worldwide.

India has a long history of agriculture that dates back many centuries. Aside from that, there should be a way to supply food to meet the country's expanding demand, given its quickly expanding population. Often referred to as robots or agri-robots, agricultural robots are made to automate and improve various farming processes with the goals of maximizing resource use, lowering labor costs, and increasing efficiency. Depending on the particular function, these robots can work in outdoor, indoor, or greenhouse settings. India is a major agricultural force in the world. It boasts the greatest cattle herd (buffaloes), the largest area covered in wheat, rice, and cotton, and it is the world's largest producer of milk, pulses, and spices.

• In June 2024, Niqo Robotics, an automation company, revealed that the company is carrying out research and development for innovation of the precision artificial intelligence-based spot-spraying robot.
• In February 2024, the University of Kota (UOK) revealed that the students at the university received national recognition for developing AgRobot to revolutionize farming practices.

North America is expected to grow at a significant rate in the commercial robots market during the forecast period. This is on account of the launch of a new commercial robotics controlling platform and advanced technology adoption due to rapid automation of the industrial sector in the region. Moreover, in North America, major countries like the U.S. and Canada have designed and developed advanced manufacturing infrastructure, which continues to rely on automation solutions to enhance productivity and reduce production costs.

• In June 2024, ABB Robotics, a company providing technology solutions, revealed the launch of the OmniCore, an intelligent automation platform that is faster, more precise, more sustainable, and more precise to enhance, empower, and futureproof businesses. A step change to a modular and future-proof control architecture, the OmniCore platform is the product of more than $170 million invested in next-generation robotics. It will enable the full integration of AI, sensor, cloud, and edge computing systems to create the most sophisticated and autonomous robotic applications.
• In May 2024, Sanctuary AI, an automation and technology company based in Canada, collaborated with Microsoft Corporation, based in the U.S., for the development of artificial intelligence models for general-purpose humanoid robots, including Sanctuary AI’s Phoenix. Sanctuary AI will use Microsoft's Azure cloud resources for its AI workloads, and the two companies will collaborate to support artificial intelligence research and development.

Commercial Robots Market Companies

• ABB
• AeroVironment Inc.
• Accuray Inc.
• Fanuc
• Yaskawa Electric
• Omron Adept Technologies
• SoftBank Robotics
• JD.com
• Ecovacs
• Alphabet Inc.
• Omron Adept Technologies Inc.
• Kuka AG
• iRobot Corporation
• 3D Robotics Inc.
• Honda Motor Company Limited
• Northrop Grumman Corp.

Recent Developments

• In April 2024, BlackBerry Limited, a software company specializing in cybersecurity, collaborated with Advanced Micro Devices, Inc., an Information Technology corporation, to provide new levels of repeatable determinism, low latency, and jitter, revolutionizing next-generation robotic systems.
• In July 2024, according to the data published by the National Bureau of Economic Research, it was estimated that 52 robotic start-ups are being funded by Y Combinator Management, LLC, an American technology startup accelerator and venture capital firm, in the year 2024.
• In May 2024, Globant, a software development company, introduced its Robotics Studio. The new Robotics Studio offers solutions for robotic prototyping, robops, and autonomous machines.

Segment Covered in the Report

By Type

• Field Robots
• Medical Robots
• Autonomous Guided Robotics
• Drones
• Others

By Application

• Medical & Healthcare
• Defense & Security
• Agriculture & Forestry
• Marine
• Other

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa