Industrial Robotics Market
Industrial Robotics Market (Type: Cartesian, Articulated, Cylindrical, SCARA, and Others; Industry: Electrical & Electronics, Machinery, Automotive, Chemical, Rubber & Plastics, Food & Beverages, Metals, Precision & Optics, and Others; and Function: Materials Handling, Milling, Cutting & Processing, Soldering & Welding, Painting & Dispensing, Assembling & Disassembling, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Press Release :
Industrial Robotics Market: Overview
New innovative developments are positively impacting the manufacturing sector in terms of limiting waste, defects, and downtime. Industrial robotics overcomes the shortcomings of conventional work in industries and improves the capacity of operators. Industrial robots also provide an upper hand by influencing business processes 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 factors influencing market development.
The global market for industrial robotics is predicted to witness a CAGR of ~9% during the forecast period from 2019 to 2027, with an estimated value of ~US$ 297 Bn by end of 2027.
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Growing Demand for Collaborative Robots to Drive Industrial Robotics Market
Collaborative robots are built to work alongside human beings through interaction in a shared workspace. Collaborative robots have the ability to automate the work easily and hence, are used across a variety of applications such as packaging, pick and place, screw driving, assembly, lab testing, and quality inspection. Furthermore, collaborative robots help companies to enhance the production output with better work safety, as these robots can perform repetitive work at a faster pace. Demand for collaborative robots is continuously on the rise from different industry verticals including retail, healthcare, automotive manufacturing, and others, owing to their numerous benefits and associated applications. Several manufacturers operate in the industrial robotics domain such as Universal Robots, KUKA AG, and Franka Emika GmbH, offering a wide variety of collaborative robots for various industries.
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Significant ROI to Propel Market Growth
Industrial robots provide a high ROI to entrepreneurs and producers operating in the industrial robotics marketplace around the world. However, underlying expenses of buying these gadgets is high and can be especially costly to organizations that purchase these gear in bulk instead of a replacement purchase or one-time purchase. Besides, these costs are followed by initial installation and training expenses and repeated cost for support and maintenance. These high rates are unfeasible to players having an extremely restricted spending plan.
Globally, Asia Pacific is expected to be the fastest developing market to a great extent due to the rise in research and development activities in Australia, Japan, India, and China. 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. Additionally, the application of industrial robots is growing across a large number of applications; for instance, consumer electronics, electrical, and automotive is additionally anticipated to boost the development of the market during the forecast period from 2019 to 2027.
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Some of the key players operating in the global industrial robotics market are
- KUKA Robotics Corporation
- FANUC Ltd.
- Denso Corporation
- Yaskawa Motoman Robotics
These players are introducing novel and technologically advanced industrial robots to capture a prominent portion of market share around the world. For instance, in 2020, KUKA AG, an industrial robot manufacturer, launched a novel industrial robot named “KR IonTec” for payload capacity of 30-70 kg.
Industrial Robotics Market - Scope of the Report
The rising demand for industrial robots across different industry verticals, regions, and applications is expected to propel the industrial robotics market during the forecast period 2019– 2027. Globally, Asia Pacific is analyzed to be the fastest growing market largely due to research and development infrastructure growth in countries such as Japan, Australia, China, and India. 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, demand for industrial robots across major application segments such as electrical, consumer electronics, and automotive is expected to fuel growth over the forecast period 2019– 2027. Countries such as Italy, Germany, France, and the U.K. are expected to be key contributors to the growth of the industrial robotics market in Europe. 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 industry verticals and regions.
This market research studies the industrial robotics market on a global level and estimates the market in terms of revenue (US$ Bn) from 2019 to 2027. It identifies the drivers and restraints affecting the market and studies their impact over the forecast period 2019 to 2027. In addition, the report 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 into 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 comprise electrical & electronics, automotive, machinery, chemical, rubber & plastics, metals, precision & optics, food & beverages, and others. Besides, the report segments the market based on functions, which includes materials handling; soldering and welding; assembling & disassembling; milling, cutting and processing; painting and dispensing; and others. Finally, the report segments the market on the basis of region into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). All these segments have been further estimated in terms of revenue (US$ Bn).
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 in the report include Denso Corporation, KUKA Robotics Corporation, FANUC Ltd., and Yaskawa Motoman Robotics.
Global Industrial Robotics Market: Segmentation
Industrial Robotics Market, by Type
Industrial Robotics Market, by Industry
- Electrical & Electronics
- Rubber & Plastics
- Food & Beverages
- Precision & Optics
Industrial Robotics Market, by Function
- Materials Handling
- Cutting & Processing
- Soldering & Welding
- Assembling & Disassembling
Industrial Robotics Market, by Region
- North America
- Asia Pacific
- Rest of the World