North America Robotics Technology Market Size, Share & Trends Analysis Report By Robot Type, By Component (Hardware, Software, and Service), By Application, By Country and Growth Forecast, 2024 - 2031
The North America Robotics Technology Market would witness market growth of 14.1% CAGR during the forecast period (2024-2031).
The US market dominated the North America Robotics Technology Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $59,321.9 million by 2031. The Canada market is experiencing a CAGR of 16.4% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 15.5% during (2024 - 2031).
This market has emerged as one of the most transformative and rapidly expanding industry sectors in recent years. This technology is revolutionizing how various sectors operate, making processes more efficient, cost-effective, and precise. At the centre of this market is the integration of robots designed to automate tasks traditionally performed by humans, ranging from manufacturing to healthcare, logistics, and entertainment.
This technology is applied across various industries, benefiting from increased productivity, enhanced precision, and reduced human error. The healthcare sector has seen a surge in the adoption of this technology for surgical procedures, rehabilitation, and patient care. Surgical robots, such as the da Vinci Surgical System, enable surgeons to perform minimally invasive procedures with greater precision, flexibility, and control.
Canada’s Aerospace Regional Recovery Initiative (ARRI), with a substantial budget of $250 million over a few years, represents a significant investment in the recovery and growth of the aerospace sector. The initiative, delivered by Canada’s regional development agencies (RDAs), aims to enhance the competitiveness of Canada’s aerospace industry, which is known for its advanced technological infrastructure. The US government is also instrumental in the growth of the robotics technology market by funding and supporting robotics development through initiatives like the National Robotics Initiative (NRI), launched by the National Science Foundation (NSF). The NRI fosters collaboration between government agencies, universities, and industry to advance robotics research and deployment in healthcare, manufacturing, and defense sectors. Thus, the USA and Canada are set for significant growth in this market, fuelled by innovation, investment, and increasing industry adoption.
Based on Robot Type, the market is segmented into Traditional Industrial Robots, Cobots, Professional Service Robots, and Other Robot Type. Based on Component, the market is segmented into Hardware, Software, and Service. Based on Application, the market is segmented into Manufacturing, Healthcare, Logistics, Aerospace & Defense, Media & Entertainment, and Other Application. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- Kuka AG (Midea Group Co., Ltd.)
- Hyundai Motor Company
- SoftBank Robotics Group (SoftBank Group Corporation)
- ABB Group
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- Microsoft Corporation
- Siemens AG
- CloudMinds Technology Inc.
- IBM Corporation
- Rockwell Automation Inc.
By Robot Type
- Traditional Industrial Robots
- Cobots
- Professional Service Robots
- Other Robot Type
- Hardware
- Software
- Service
- Manufacturing
- Healthcare
- Logistics
- Aerospace & Defense
- Media & Entertainment
- Other Application
- US
- Canada
- Mexico
- Rest of North America
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Robotics Technology Market, by Robot Type
- 1.4.2 North America Robotics Technology Market, by Component
- 1.4.3 North America Robotics Technology Market, by Application
- 1.4.4 North America Robotics Technology Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
- Chapter 4. Competition Analysis - Global
- 4.1 KBV Cardinal Matrix
- 4.2 Recent Industry Wide Strategic Developments
- 4.2.1 Partnerships, Collaborations and Agreements
- 4.2.2 Product Launches and Product Expansions
- 4.2.3 Acquisition and Mergers
- 4.2.4 Geographical Expansion
- 4.3 Market Share Analysis, 2023
- 4.4 Top Winning Strategies
- 4.4.1 Key Leading Strategies: Percentage Distribution (2020-2024)
- 4.4.2 Key Strategic Move: (Mergers & Acquisition : 2020, Feb – 2023, Oct) Leading Players
- 4.5 Porter Five Forces Analysis
- Chapter 5. North America Robotics Technology Market by Robot Type
- 5.1 North America Traditional Industrial Robots Market by Country
- 5.2 North America Cobots Market by Country
- 5.3 North America Professional Service Robots Market by Country
- 5.4 North America Other Robot Type Market by Country
- Chapter 6. North America Robotics Technology Market by Component
- 6.1 North America Hardware Market by Country
- 6.2 North America Software Market by Country
- 6.3 North America Service Market by Country
- Chapter 7. North America Robotics Technology Market by Application
- 7.1 North America Manufacturing Market by Country
- 7.2 North America Healthcare Market by Country
- 7.3 North America Logistics Market by Country
- 7.4 North America Aerospace & Defense Market by Country
- 7.5 North America Media & Entertainment Market by Country
- 7.6 North America Other Application Market by Country
- Chapter 8. North America Robotics Technology Market by Country
- 8.1 US Robotics Technology Market
- 8.1.1 US Robotics Technology Market by Robot Type
- 8.1.2 US Robotics Technology Market by Component
- 8.1.3 US Robotics Technology Market by Application
- 8.2 Canada Robotics Technology Market
- 8.2.1 Canada Robotics Technology Market by Robot Type
- 8.2.2 Canada Robotics Technology Market by Component
- 8.2.3 Canada Robotics Technology Market by Application
- 8.3 Mexico Robotics Technology Market
- 8.3.1 Mexico Robotics Technology Market by Robot Type
- 8.3.2 Mexico Robotics Technology Market by Component
- 8.3.3 Mexico Robotics Technology Market by Application
- 8.4 Rest of North America Robotics Technology Market
- 8.4.1 Rest of North America Robotics Technology Market by Robot Type
- 8.4.2 Rest of North America Robotics Technology Market by Component
- 8.4.3 Rest of North America Robotics Technology Market by Application
- Chapter 9. Company Profiles
- 9.1 Kuka AG (Midea Group Co., Ltd.)
- 9.1.1 Company Overview
- 9.1.2 Financial Analysis
- 9.1.3 Segmental and Regional Analysis
- 9.1.4 Research & Development Expenses
- 9.1.5 Recent strategies and developments:
- 9.1.5.1 Product Launches and Product Expansions:
- 9.1.6 SWOT Analysis
- 9.2 Hyundai Motor Company
- 9.2.1 Company Overview
- 9.2.2 Financial Analysis
- 9.2.3 Segmental and Regional Analysis
- 9.2.4 Research & Development Expense
- 9.2.5 Recent strategies and developments:
- 9.2.5.1 Product Launches and Product Expansions:
- 9.2.5.2 Acquisition and Mergers:
- 9.2.6 SWOT Analysis
- 9.3 SoftBank Robotics Group (SoftBank Group Corporation)
- 9.3.1 Company Overview
- 9.3.2 Financial Analysis
- 9.3.3 Recent strategies and developments:
- 9.3.3.1 Partnerships, Collaborations, and Agreements:
- 9.3.3.2 Product Launches and Product Expansions:
- 9.3.4 SWOT Analysis
- 9.4 ABB Group
- 9.4.1 Company Overview
- 9.4.2 Financial Analysis
- 9.4.3 Segmental and Regional Analysis
- 9.4.4 Research & Development Expense
- 9.4.5 Recent strategies and developments:
- 9.4.5.1 Acquisition and Mergers:
- 9.4.5.2 Geographical Expansions:
- 9.4.6 SWOT Analysis
- 9.5 Amazon Web Services, Inc. (Amazon.com, Inc.)
- 9.5.1 Company Overview
- 9.5.2 Financial Analysis
- 9.5.3 Segmental Analysis
- 9.5.4 Recent strategies and developments:
- 9.5.4.1 Product Launches and Product Expansions:
- 9.5.5 SWOT Analysis
- 9.6 Microsoft Corporation
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Segmental and Regional Analysis
- 9.6.4 Research & Development Expenses
- 9.6.5 Recent strategies and developments:
- 9.6.5.1 Partnerships, Collaborations, and Agreements:
- 9.6.5.2 Acquisition and Mergers:
- 9.6.6 SWOT Analysis
- 9.7 Siemens AG
- 9.7.1 Company Overview
- 9.7.2 Financial Analysis
- 9.7.3 Segmental and Regional Analysis
- 9.7.4 Research & Development Expense
- 9.7.5 SWOT Analysis
- 9.8 CloudMinds Technology Inc.
- 9.8.1 Company Overview
- 9.9 IBM Corporation
- 9.9.1 Company Overview
- 9.9.2 Financial Analysis
- 9.9.3 Regional & Segmental Analysis
- 9.9.4 Research & Development Expenses
- 9.9.5 Recent strategies and developments:
- 9.9.5.1 Partnerships, Collaborations, and Agreements:
- 9.9.5.2 Acquisition and Mergers:
- 9.9.6 SWOT Analysis
- 9.10. Rockwell Automation, Inc.
- 9.10.1 Company Overview
- 9.10.2 Financial Analysis
- 9.10.3 Segmental and Regional Analysis
- 9.10.4 Research & Development Expenses
- 9.10.5 Recent strategies and developments:
- 9.10.5.1 Partnerships, Collaborations, and Agreements:
- 9.10.5.2 Acquisition and Mergers:
- 9.10.6 SWOT Analysis
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