Published: Oct, 2018
The global industrial robotics market is characterized with a high level of fragmentation, thanks to the presence of a large number of local as well as international players operating in it, states a new report by Transparency Market Research. The market players are making ardent efforts to expand their product portfolio by focusing on innovations and research and development activities. In addition to this, the rising number of mergers and acquisitions and the emergence of new models of industrial robots are estimated to propel the global industrial robots market throughout the forecast period. Moreover, the rising number of strategic collaborations and mergers is projected to support the market growth in the next few years. The key players operating in the industrial robots market across the globe are Kawasaki Robotics, Mitsubishi Electric Corporation, Invensys plc., Rockwell Automation Inc, Siemens AG, Schneider Electric SA, and Omron Corporation.
The global industrial robotics market is projected to reach a value of US$147.7 bn by the end of 2019. The market is estimated to register a healthy 6.20% CAGR between 2014 and 2020, states a new research report that has been recently presented by Transparency Market Research.
Rising Research Activities to Drive Asia Pacific Industrial Robotics Market
From a geographical viewpoint, Asia Pacific is projected to account for a large share of the global industrial robotics market and lead in the next few years. The strong growth of this region can be attributed to the significant rise in the research activities and the increasing contribution from Japan, Australia, China, and India. Moreover, the rise in the adoption of industrial robots in small and medium enterprises in the emerging economies of Asia Pacific is further expected to enhance market growth. Furthermore, North America and Europe are projected to witness steady growth throughout the forecast period, thanks to the presence of several leading players operating in these regions.
The global market for industrial robotics has been classified on the basis of application into oil and gas, semiconductors, chemicals, textiles, automotive, power, OEMs, printing and packaging, food processing, pharmaceuticals, plastics, and others. Among these, the automotive segment is anticipated to hold a large share of the global market in the next few years. A significant rise in the level of automation, especially in the automotive sector is expected to enhance the growth of this segment in the coming few years. Moreover, the rise in the research and development activities to accelerate market growth in coming few years.
Rising Demand for Human-interacting Robots to Encourage Growth
The rise in the demand for industrial robotics from SEMs, particularly in emerging economies is considered as the primary factor that is estimated to accelerate the growth of the market in the coming years. The increasing investments for innovations and automation in industries is further estimated to support the market growth in the coming years. Technological advancements and the growing demand for innovations and new products in this field are estimated to enhance the growth of the global industrial robotics market in the next few years.
On the flip side, the high cost of installation for the low-volume production applications is estimated to curb the growth of the global industrial robotics market throughout the forecast period. In addition to this, the growing need to safely handle the industrial robots is further estimated to hamper the market in the near future. Nonetheless, a significant rise in the demand for low-cost industrial robots that are capable of interacting and working with humans is projected to generate lucrative and promising growth opportunities for the market players throughout the forecast period.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Industrial Robotics Market - (By Types - Cartesian, Articulated, Cylindrical, SCARA, Others; by industry - Electrical & Electronics, Machinery, Automotive, Chemical, Rubber & Plastics, Food & Beverages, Metals, Precision & Optics, and Others; by function - Materials Handling, Milling, Cutting and Processing, Soldering and Welding, Painting and, Dispensing, Assembling & Disassembling, Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”
- The rising focus of leading players on the research activities and growing investments for the introduction of new products are predicted to accelerate market growth in the near future.
- The rising demand from emerging economies and the high rate of industrialization to propel global industrial robotics market in the near future.
The global industrial robotics market has been segmented as below:
Industrial controls and robotics market analysis, by type
- Industrial Control systems
- Field Devices
- Relay & Switches
- Motion Control & Drives Systems
- Machine Vision systems
- Manufacturing Execution Systems
Industrial controls and robotics market analysis, by application
- Printing and Packaging
- Oil & Gas
- Food Processing
Industrial controls and robotics market analysis, by technology
- Motion Control and Drives Systems
- Robotics Systems
- Integrated Manufacturing Systems
- Machine Vision Systems
- Manufacturing Execution Systems
- Programmable Logic Control System
Industrial controls and robotics market by Geography
- Rest of the World
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