Robotics market to double to $205.5B by 2030, service robots lead growth

The global robotics market is projected to more than double from $90.2 billion in 2024 to $205.5 billion by 2030, representing a 15% compound annual growth rate, according to new research from GlobalData, a data and analytics company. This explosive growth is driven by robotics applications spanning multiple industries, with emerging segments like exoskeletons and drones leading the charge alongside established industrial and service robot markets.

The fastest-growing segments: Exoskeletons are expected to surge at a 38% compound annual growth rate through 2030, though from a minimal $0.6 million base in 2024.

• Drones will capture the second-fastest growth at 19% annual growth, followed by logistics robots at 18%.
• These emerging categories are outpacing traditional robotics segments as companies seek specialized automation solutions.

Service robots dominate the market: The service robot sector generated $65.6 billion in 2024, significantly outpacing industrial robots and maintaining its market leadership position.

• Service robots are projected to grow at 17% annually to reach $168.8 billion by 2030, remaining the larger of the two primary robotics markets.
• Industrial robot sales hit $24.6 billion in 2024 (27% of total market) and will grow to $36.7 billion by 2030 at a more modest 7% annual rate.

AI integration drives capabilities: Cloud computing and artificial intelligence enable robots to collaborate, access vast data streams, and make autonomous decisions with enhanced navigation capabilities.

• Neuromorphic processors—chips that mimic human brain structure—are emerging as power-efficient components for next-generation robotics.
• “Robots aren’t just getting more dexterous, they’re also getting smarter,” said Aisha U-K Umaru, GlobalData analyst. “The combined effect is that more value may be provided to humans in the workplace or at home, as robots can physically do more with heightened intelligence.”

Humanoid robots gain momentum: Major automotive companies like Tesla and Toyota are joining startups Figure AI and Fourier Robotics to develop human-like multipurpose robots.

• These humanoid systems aim to address labor shortages in developed economies and replace human workers in dangerous environments.
• However, high component costs, utility skepticism, and social acceptance questions remain significant adoption barriers.

What they’re saying: Industry experts see broad applications for robotics innovation across sectors.

• “Advancements in precision mechanical parts can enhance everything from care robots to humanoid robots,” Umaru explained. “The technology that enabled co-bots to work alongside humans in factories was refined to enable surgical robots to practice alongside healthcare professionals.”
• Looking ahead, Umaru poses critical questions: “When will robots be indistinguishable from humans? And when they are, then what?”