In 2023, global industrial robot shipments exceeded 500,000 units, signaling a recovery from a low point that year, according to Interact Analysis. Although shipment volumes were similar to 2022, the average price of industrial robots decreased. The market had seen record highs in 2021, followed by lows in 2023.

Maya Xiao, a research manager at Interact Analysis, noted that industrial robot prices rose in 2022 due to the COVID-19 pandemic, high energy prices, and inflation. Although a price decline was expected in 2023, ongoing supply chain and inflation issues kept prices close to 2022 levels. Additionally, a trend towards heavier payload robots, which are more expensive, contributed to this price effect.

Despite these challenges, the long-term outlook is positive, with an expected annual market growth rate of 3.7% from 2024 to 2028. (Six Degrees of Robotics)