Global Smart Robots market report 2024, Forecast To 2033

The smart robots market size has witnessed exponential growth, surging from $13.79 billion in 2023 to $17.46 billion in 2024 at a compound annual growth rate (CAGR) of 26.6%. The growth in the historic period can be attributed to the increasing demand for automation and labor cost reduction, expansion of industries requiring robotic automation, increased adoption of collaborative robots (cobots) for human-robot interaction, and advancements in sensing and perception technologies for robotics. Looking ahead, the smart robots market size is expected to experience exponential growth, reaching $39.49 billion in 2028 at a CAGR of 22.6%. This growth in the forecast period is associated with the adoption of robots in healthcare for surgical and rehabilitation applications, expansion of smart manufacturing and Industry 4.0 initiatives, research and development in swarm robotics and multi-robot systems, the need for robots in hazardous environments, and the emphasis on smart agriculture and autonomous farming practices. Major trends in the forecast period encompass AI-powered adaptive learning, natural language processing (NLP) and voice recognition, robotic process automation (RPA) in business processes, edge computing for real-time decision-making, emotional AI and social robotics, as well as augmented reality (AR) and mixed reality (MR) integration.