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Summary
The global robotics market has demonstrated significant growth, with market revenues reaching €30.6 billion in 2022 and projected to grow at a CAGR of 4.96% during the 2023-2027 period. Service robotics dominates the market, accounting for 74.6% of the total revenue in 2022, with revenues expected to continue rising. The United States, China, and Germany are the top revenue-generating countries, with the United States leading at €6.3 billion in 2022.
Robotic Renaissance: Unpacking the Trends in Italy's Flourishing Robotics Sector
Italy's robotics market is experiencing an era of transformation and growth. With a vibrant mix of industrial and service robots, the market in Italy reflects global trends and innovations in the field, while navigating a post-pandemic world. Recognizing the potential, the Italian market embraces a diverse range of robotic applications, from automotive to healthcare, evidencing the adaptable nature of this technology. In recent times, Italy has seen revenues in the robotics market touching approximately €0.85 billion and is poised for a steady climb to reach around €0.91 billion the following year. Future projections estimate a continued ascent, with market volumes expected to surge by more than a third, compared to the figures from 2020. Notably, service robotics is the star of the sector, dominating with over 70% in revenue share and with commercial service robotics taking the lead within this segment. It's worth noting that within commercial service robotics, medical applications alone account for a substantial portion of the revenues. The market for industrial robots is also robust, with automotive robotics being a key revenue generator. After facing slowdowns due to supply chain disruptions and semiconductor shortages, the industry anticipates a recovery and positive growth. Furthermore, the average price for new industrial robots in Italy shows signs of an increase, reflecting a resurgent demand. Demographic factors like Italy's aging population foreshadow an increased need for medical and caregiving robots, and household expenditure trends indicate a proclivity toward sectors like car ownership which underscores the demand for automation in manufacturing. Determinants such as the rollout of 5G networks, which in Italy cover a substantial number of cities, and advancements in artificial intelligence promise to augment efficiency and expand capabilities, potentially furthering the demand for robotics. Additionally, Italy's commitment to cleaner energy and an increase in electric vehicle adoption signals potential growth in automotive robotics, linked to a broader global market expected to be worth several hundred billion dollars. Through this lens, the Italian robotics market exemplifies the intersection of technology, demand, and innovation, setting the stage for an era earmarked by robotic precision and efficiency. As Italy steers through the landscape of modern robotics, the convergence of demographic shifts, technological advances, and economic indicators suggests a vibrant future for robotics across the nation.
Key Players Shaping the Robotics Landscape
As we delve into the world of robotics, several pioneering companies emerge as influential players in the market, each carving out niches and pushing the boundaries of technological capabilities. Although their financial turnovers are not the focus here, their contributions and market positions are noteworthy.
- Mitsubishi Electric Corp. - Pioneering Precision and Innovation Japan's Mitsubishi Electric Corp. has established itself as a giant in the industry, known for its high-quality electrical and electronic equipment, including state-of-the-art industrial robots. The company's commitment to precision and innovation has made its robotic solutions a top choice in various manufacturing sectors, contributing significantly to the advancement of industrial automation.
- Kuka Ag - German Engineering at its Robotic Best Kuka Ag, headquartered in Germany, is recognized for its robotic arms and automation systems that serve a multitude of industrial applications. Their engineering prowess ensures that their robots are not only precise and reliable but also versatile, catering to sectors from automotive to healthcare with a focus on enhancing efficiency and productivity.
- ABB Ltd. - Powering Industrial Robotics Globally Switzerland's ABB Ltd. has carved a prestigious spot in the global market, offering a wide range of robotics solutions. From simple pick-and-place tasks to complex manufacturing processes, ABB's robots and software integration stand out, ensuring that industries benefit from the increased automation and digitalization.
- Boston Dynamics, Inc. - Pushing the Boundaries of Mobility Based in the United States, Boston Dynamics is known for creating some of the most advanced robots in terms of mobility and agility. Their robots, often resembling animals or humans, represent a leap forward in the field of robotics, combining sophisticated software with unique mechanical designs to tackle challenging terrains and environments.
- Irobot Corp. - Leading the Way in Consumer Robotics Also from the United States, Irobot Corp. has made a name for itself in the consumer robotics space, particularly known for its automated home cleaning devices. By integrating smart technology and user-friendly interfaces, iRobot has brought robotics into everyday life, showcasing the potential for robots to become our indispensable home companions.
- Intuitive Surgical - Revolutionizing Medical Robotics Intuitive Surgical stands at the forefront of medical robotics, offering systems like the da Vinci surgical system, which allows surgeons to perform minimal-invasive procedures with great precision. The company's pioneering work in this realm has not only improved patient outcomes but has also set new standards for what robotics can achieve in the operating room.
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- Last update : 12/07/2023
Summary and extracts
1 Market Overview
1.1 Definition and presentation
The robotics market is very diverse, but can be divided into two major areas: service robots and industrial robots. A service robot is a robot that can make decisions and act autonomously in real and unpredictable environments to complete tasks; they bypass manufacturing processes and are able to make decisions and act autonomously in real and unpredictable environments. Industrial robots, which are composed of several subgroups, may comprise robotic arms used in manufacturing applications in an industrial environment. Traditional industrial robots are characterized by a variety of factors, including type of motion (degrees of freedom), application (manufacturing process), architecture (serial or parallel), and brand. Then there is a new classification for collaborative or noncollaborative industrial robots.
The market is expected to grow at a CAGR of 5% during the forecast period 2023-2027. The robotics market in 2022 observed a growth spike of nearly 18 percent over 2021, reaching 30.66 billion.
According to the International Federation of Robotics (FIR), Italy occupied the sixth place in 2021 for largest number of industrial robotics installations in the world. China takes the first place with 268 thousand new industrial robots installed in 2021 alone.In 2020, the total number of Italian companies in the robotics and automation sector was 691, 25 percent more than 20 years earlier.
In Italy, the highest revenue sector isservice robotics, where robots find application in the commercial services industry (agricultural, logistics, medical and other services) and consumer services. Logistics service robotics has been the sub-segment most affected by the COVID-19 pandemic. Blockades disrupted supply chains, causing long lines of container ships, freight trains and trucks. To reduce their expenses, many logistics companies suspended the expansion of automation, causing revenues to drop. However, as of 2023, all segments of the market are expected to recover.
The robotics market will continue to grow in the future due to the development of the Internet of Things, 5G, artificial intelligence and other trends that will drive positive revenue growth rates.
List of charts
- Total robotics market revenues
- Shares by revenue from robotics market segments
- Robot volumes in the robotics market
- Comparison of revenues of major countries in the robotics market
- Revenues by segments of the robotics market
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Latest news
Brussels takes aim at Amazon's acquisition of iRobot - 10/07/2023
- The UK Competition and Markets Authority (CMA) has approved the acquisition.
- The European Commission has opened an in-depth investigation into the acquisition.
- This would be Amazon's fourth largest acquisition.
- Amazon's aim is to accelerate innovation in consumer robotics and extend its influence in connected objects for the home and artificial intelligence.
iRobot, Amazon and British competition - 18/06/2023
- Amount of iRobot acquisition by Amazon: $1.7 billion.
- IRobot products: Roomba vacuum cleaners, air purifiers, lawnmowers.
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