Global robotics market to hit $205.5B by 2030 with service robots leading

GlobalData, a data and analytics research firm, forecasts the global robotics market will grow from $90.2 billion in 2024 to $205.5 billion by 2030, representing a 15% compound annual growth rate. The expansion is being driven by rapid adoption across diverse applications, with exoskeletons, drones, logistics robots, and consumer robots leading the charge as the fastest-growing segments.

The big picture: Service robots are dominating the market landscape, generating $65.6 billion in 2024 compared to industrial robots’ $24.6 billion, and this gap is expected to widen significantly by decade’s end.

Key growth drivers: Four robotics segments are experiencing explosive expansion, though from varying market positions.

• Exoskeletons top the growth charts with a projected 38% CAGR through 2030, despite starting from a modest $0.6 million revenue base in 2024.
• Drones follow with 19% growth, while logistics robots are expanding at 18% annually.
• Industrial robots, though representing the largest single segment at 27% of total market share, are growing more modestly at 7% CAGR to reach $36.7 billion by 2030.

Service robots lead the charge: The service robotics sector significantly outpaces industrial applications and will maintain its dominance throughout the forecast period.

• Service robot revenues of $65.6 billion in 2024 are expected to surge to $168.8 billion by 2030 with a 17% CAGR.
• This sector’s growth reflects robots’ expanding roles beyond manufacturing into healthcare, consumer applications, and specialized services.

AI integration accelerates capabilities: Cloud computing and artificial intelligence are fundamentally transforming robotic functionality and decision-making processes.

• AI enables robots to operate autonomously, make independent decisions, and navigate complex environments with improved precision.
• Neuromorphic processors—computer chips that mimic human brain architecture—represent the next frontier for power-efficient robotic intelligence.

Humanoid robots gain momentum: Major automotive companies are joining specialized robotics startups to develop human-like robots for addressing labor challenges.

• Tesla and Toyota are collaborating with companies like Figure AI and Fourier Robotics on multi-purpose humanoid development.
• These robots could potentially address labor shortages in developed economies and replace human workers in hazardous environments.

What they’re saying: Industry analysts emphasize the cross-pollination of robotic innovations across sectors.

• “Advancements in precision mechanical parts can enhance everything from care robots to humanoid robots,” said Aisha U-K Umaru, analyst at GlobalData. “The technology that enabled co-bots to work alongside humans in factories was refined to enable surgical robots to practice alongside healthcare professionals.”
• “Robots aren’t just getting more dexterous, they’re also getting smarter,” Umaru added. “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.”

Challenges remain: Despite promising growth projections, humanoid robotics faces significant adoption hurdles including high component costs, utility skepticism, and questions around social acceptance that could impact widespread deployment timelines.