Global Industrial Robotics Market: Snapshot
The new innovative developments are turning manufacturing sectors more intelligent as far as effectiveness with limiting waste, defects, and downtime. So as to beat the hindrance of conventional work in industries and improve the capacity of operators, industrial robotics has been developed. Establishment of industrial robots also provided an upper hand by influencing business process to be more unique. Increasing focus on improving the productivity of large volume production, especially in the manufacturing of electronic gadgets and vehicles, is one of the patterns raising market development.
The global market for industrial robotics is prognosticated to project a steady CAGR of 6.2% within the forecast period from 2014 to 2020, with an estimated value of worth US$147.7 bn by end of 2019.
High Expense of Training Labors to Draw Attention Toward Industrial Robotics Market
The high expenses of utilizing manual labors, coupled with the related to giving advantages, for example, health and safety insurances and compensations, promotions, benefit packages, paid leaves, and surge in wages annually are the main consideration catalyzing the development towards the popularity of automation technology, fueling the growth of the industrial robotics market. Besides, the expenses of training and employing the labors and their substitutions is high. As per the intangible advantages, laborers can't work in inhospitable or harsh situations and have below the mark satisfaction in completing dull tasks rather than robots which have far lower limitations.
As the innovation is expected to keep on changing and evolving, the administrative structure is very complicated and updated time-to-time or altered to accommodate new advancements. A significant region of worry in the industrial robotics market is the wellbeing of the administrators, basically in collaborative robots which operate around humans.
Significant ROI of Business to Propel growth in Market
These robots give a high positive ROI to entrepreneurs and producers which are present over ever-increasing demand for industrial robotics in the global market. The underlying expenses of buying these gadgets is high and can be especially costly to organizations that purchase these gear in mass instead of a replacement purchase or one-time purchase. Besides, these costs are trailed by initial installation and training expenses and repeating costs for support and maintenance. Such high rates are exceptionally unfeasible to players having an extremely restricted spending plan.
Globally, Asia Pacific is expected to be quickest developing market to a great extent because of the rise in research and development activities in nations, for example, Australia, Japan, India, and China. The adoption and popularity of robotics in small and medium enterprises (SME's) is additionally anticipated to strengthen the industrial robotics market in the region of Asia Pacific. Also, the interest for industrial robots crosswise over real application sections, for example, consumer electronics, electrical, and automotives is additionally anticipated to boost the development of the market within the forecast period from 2014 to 2020.
Some of the key players operating in the global industrial robotics market are KUKA Robotics Corporation, FANUC Ltd., Denso Corporation, Yaskawa Motoman Robotics, and so on.
The rising demand for industrial robots across different industry verticals, regions and applications is propelling the industrial robotics market during the forecast period 2014 to 2020. Globally, Asia Pacific is analyzed to be fastest growing market largely due to the research and development infrastructure growth in countries such as Japan, Australia, China and India. The adoption of robotics in small and medium enterprises (SME’s) is further expected to bolster the industrial robotics market in the Asia Pacific region. Additionally, the demand for industrial robots across major application segments such as electrical, consumer electronics, and automotives is further expected to fuel growth over the forecast period 2014 to 2020. Countries such as Italy, Germany, France, and the U.K are expected to be key contributors to the growth of industrial robotics market in the European region. In North America, Mexico is expected to offer tremendous potential across varied application sectors in the coming years. Thus, the market for industrial robotics is expected to witness healthy growth across varied industry verticals and regions.
This market research studies the industrial robotics market on a global level and estimates the market in terms of revenue (USD billion) from 2014 to 2020. It identifies the drivers and restraints affecting the market and studies their impact over the forecast period 2014 to 2020. In addition, the report also analyzes the opportunities for growth in the industrial robotics market over the forecast period.
The report segments the industrial robotics market based on types of robots such as cylindrical robots, articulated robots, Cartesian robots, SCARA robots, and other types of robots. The market has further been segmented on the basis of industries served which comprises electrical & electronics industry, automotive industry, machinery industry, chemical, rubber & plastics industry, metals industry, precision & optics industry, food & beverages industry, and other types of industries. Besides, the report segments the market based on functions, which includes materials handling function, soldering and welding function, assembling & disassembling function, milling, cutting and processing function, painting and dispensing function, and other types of functions. Finally, the report segments the market on the basis of geography into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). All these segments have been further estimated in terms of revenue (USD billion).
A comprehensive analysis of the value chain offers an enhanced understanding of the market. A detailed Porter’s five forces analysis has been provided for a better perceptive of the intensity of competition in the industrial robotics market. The study further includes a market attractiveness analysis, wherein industrial robotics applications have been benchmarked based on their growth rate, market size, and overall attractiveness.
The industrial robotics market report provides company market share analysis of key players. These players have been profiled on aspects such as company overview, financial overview, business strategy, SWOT analysis, and recent developments in the market. Some of the key players profiled include Denso Corporation, KUKA Robotics Corporation, FANUC Ltd., and Yaskawa Motoman Robotics among others.
Industrial Robotics Market: By geography
- North America
- Asia Pacific
- Rest of the World
Industrial Robotics Market: By types
Industrial Robotics Market: By industry
- Electrical & Electronics
- Chemical, Rubber & Plastics
- Food & Beverages
- Precision & Optics
Industrial Robotics Market: By function
- Materials Handling
- Milling, Cutting and Processing
- Soldering and Welding
- Painting and Dispensing
- Assembling & Disassembling