After COVID-19, the traditional covid-19 impact on the industrial robot market size (including peripheral, software and systems engineering prices) is expected to increase from $44.6 billion in 2020 to $73 billion in 2025. It is expected to grow at a CAGR of 10% over the forecast period. Projections for 2025 are expected to decline by about 3% compared to pre-Covid-19 estimates.
The lack of skilled labor and requests for proposals from governments and public and private companies to mitigate the adverse impacts of COVID-19 are the major drivers of the market. While the COVID-19 pandemic will have a negative impact on the market growth through the second or third quarter of 2020, the market is expected to grow from 2021 as players in the industrial robotics market can clear the backlog and start new orders. For example, in fiscal year 2019, the robotic division of KUKA (Germany) recorded an order balance of US$ 390 million (€270 million).
A full report of COVID-19 Impact on Global COVID-19 Impact on Industrial Robotics Market is available at: https://www.orionmarketreports.com/covid-19-impact-on-industrial-robotics-market/45773/
COVID-19 Impact on Global COVID-19 Impact on Industrial Robotics Market Segmentation
By Type:
• Articulated robots
• SCARA robots
• Parallel/delta robots
• Cartesian/gantry/linear robots
• Other robots (cylindrical, spherical, swing arm)
By Industry:
• Automotive
• Electrical and electronics
• Chemicals, rubber, and plastics
• Metals and machinery
• Food & beverages
• Precision engineering and optics
• Pharmaceuticals and cosmetics
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