iCrowdNewswire Jan 14, 2021 6:00 AM ET
Market Research Future (MRFR) highlights that the global Industrial Robotics Market valuation is projected to reach USD 81 BN by 2022, growing at approximately 14% CAGR throughout the review period (2016 – 2022). The COVID 19 pandemic has accelerated the digital transformation, promoting social distancing. The epidemic has also fostered automation in distinct technology areas, increasing uses of technologies such as 5G, cloud/edge, and artificial intelligence.
The industrial robotics market is garnering substantial traction, mainly due to the rapid industrialization across the globe. Besides, the market growth mainly attributes to the rising demand for automated, programmable machines to reduce the tiring efforts of producing & manufacturing consumer goods. Moreover, rising uptake of articulated, SCARA, and Cartesian robots across the rapidly growing industries escalate market growth.
Additionally, the high demand for robotics, especially in manufacturing sectors, and growing investments in the automotive industry, boost the growth of the market. Also, growing technological advances and adoption of robotics in small & medium size organizations accelerate market growth. Furthermore, the advantages of articulated robots, such as the reduced overall production cost, substantiate the size of the market.
Highly competitive, the industrial robotics market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, players incorporate strategic initiatives such as collaborations, mergers & acquisitions, expansion, and product/ technology launch. They make substantial investments in new product developments and geographical expansion. Industrial robotics market trends include relentless innovations and new products, resulting in intense competition among manufacturers.
Players leading the global industrial robotics market are Denso Corporation (Japan), ABB Ltd. (Switzerland), Kuka AG (Germany), Bosch GmbH (Germany), Kawasaki Heavy Industries Ltd. (Japan), Yaskawa Electric Corporation (Japan), Mitsubishi Electric Corporation (Japan), Fanuc Corporation (Japan), Toshiba Corporation (Japan), and Rockwell Automation, Inc. (US), among others.
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By Types: Cartesian, Articulated, SCARA, Delta, Redundant, 6-Axis Robots, Dual-Arm & Parallel Robotics, and others.
By Application: Welding, Material Handling, Assembling, Painting, Palletizing, and others.
By End-Users: Electronics, Automotive, Rubber & Plastic, Food & Beverage, Entertainment, Pharmaceuticals, and others.
By Regions: Asia Pacific, Americas, Europe, and Rest-of-the-World.
The Asia Pacific region dominates the global industrial robotics market. The market growth attributes to the strong presence of several notable players and well-established development centers, allowing advances in robotics and the early uptake.
Japan is the leading market of industrial robotics, followed by China and India, respectively. With its vast investments in the development of articulated robotics and the manufacturing processes, India demonstrates the maximum potential to grow during the assessment period. Furthermore, the rising demand for new autonomous technology from the burgeoning automotive and aircraft sectors fosters the growth of the regional market.
Europe, with more than 50% of industries, stands second in the global industrial robotics market. Maximum industries in the region have implemented robotics technology to operate their activities. The market growth is driven by the strong presence of auto manufacturers and the need for automated vehicle manufacturing processes.
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Major Highlights of TOC Covers:
- Executive Summary
- Key Business Trends
- Regional Trends and Growth
- Product Trends
- End-use Trends
- Definition and Forecast Parameters
- Industrial Robotics Market Segmentation
- Industrial Robotics Market Landscape
- Vendor Matrix
- Company Profiles
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