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The global robotics technology market is expected to reach $349.8 billion by 2032, witnessing a CAGR of 15.2% from 2023 to 2032. The rise in the need for automation and safety in organizations, the rise in availability of cost and energy-efficient robots, the increase in integration of robots in several industries, and the rise in labor and energy costs are the major factors that drive the growth of the global robotics technology market. High initial and maintenance costs and lack of awareness among SMEs are the major factors that impede the growth of the global market.
