Robotics industry set for explosive growth as innovation accelerates

• Key to the explosive growth is the integration of AI and cloud computing, which are fundamentally transforming how robots learn, adapt, and interact.
• Advances like neuromorphic processors, emulating the human brain, promise a future generation of robots that are both highly dexterous and intelligent.
• All signs point to a future where robots are not only more capable but also more ingrained in daily life—reshaping everything from work to home and challenging society to imagine new possibilities.

The global robotics industry is charging into a new era of expansion and innovation, with market forecasts predicting a surge from $90.2 billion in 2024 to a staggering $205.5 billion by 2030, according to GlobalData’s report.

The 15 per cent compound annual growth rate (CAGR) reflects the sector’s expanding influence across industries—from manufacturing to consumer services and healthcare.

Exoskeletons and drones lead the pack

One of the sector’s standout stories is the meteoric rise of exoskeletons. Although still a nascent segment at just $$0.6 million in 2024, exoskeletons are expected to grow at a remarkable 38 per cent CAGR through to 2030, driven by progress in rehabilitation, workforce support, and mobility solutions.

Drones are flying high as the second-fastest-growing segment (19 per cent CAGR), followed closely by logistics robots (18 per cent CAGR), both reflecting rapidly expanding commercial and industrial use cases.

Service robotics outpaces industrial counterparts

While industrial robots, long the industry backbone, will advance at a steady 7 per cent CAGR—growing from $24.6 billion to $36.7 billion by 2030—they’re now outshone by the broader service robot market.

Service robotics, already worth $65.6 billion in 2024,is set to reach $168.8 billion by 2030 (17 per cent CAGR), underlining increasing adoption in areas like healthcare, hospitality, and consumer robotics.

“With every leap in precision engineering and smart technology, robots are reimagining their role in society—from assisting in factories to supporting in hospitals,” observed Aisha U-K Umaru, Analyst at GlobalData.

Intelligent robotics

Key to this explosive growth is the integration of artificial intelligence (AI) and cloud computing, which are fundamentally transforming how robots learn, adapt, and interact.

Advances like neuromorphic processors, emulating the human brain, promise a future generation of robots that are both highly dexterous and intelligent.

“Robots aren’t just getting more dexterous, they’re also getting smarter,” Umaru noted. “The convergence of physical capability and AI-driven intelligence is unlocking unprecedented value for both workplaces and homes.”

Visionary automakers Tesla and Toyota, alongside startups Figure AI and Fourier Robotics, are at the forefront of developing robots that closely resemble humans—poised to address labor shortages and take on hazardous jobs. Despite the promise, high component costs, questions around utility, and concerns about social acceptance pose hurdles for widespread adoption.

Umaru concluded: “Progress in humanoid robotics is happening at a breathtaking pace. With AI advancing in parallel, the industry must now grapple with two profound questions: When will robots be indistinguishable from humans—and what comes next when they are?”