Robotics technology is an interdisciplinary field that involves the integration of engineering, computer science and other fields of science to design, develop, and deploy robots. A report published by Allied Market Research states that the robotics technology industry generated $87.4 Billion in 2022 and is anticipated to generate $ 349.8 Billion by 2032, witnessing a CAGR of 15.2% from 2023 to 2032. The growth of the global robotics technology market is driven by the need for automation and safety in organizations, the availability of cost and energy-efficient robots, the increase in integration of robots in several industries, and the rise in labor and energy costs. High initial and maintenance costs and lack of awareness among SMEs are the major factors that impede the growth of the global market.
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