The global industrial robotics market is estimated to grow at a CAGR of around 10% during the forecast period. The rapid technological innovations and advancements along with the decreasing costs are the primary factors that positively affect the growth of the global industrial robotics industry. Whereas, increasing manufacturing requirements are fueling the need for adoption automation, which in turn increases the demand for industrial robotics. In addition, the rising penetration of collaborative robots in various industries tends to expand the global industrial robotics market size.
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The increase in demand for automation and rapid growth in industrialization requires the industrial robots. There is an increasing adoption of industrial robots in various applications such as automotive, manufacturing, construction, and food & beverages industries for automating processes, which in turn leads to more efficiency, reduced human errors, and increased safety of the workforce that fuels the demand for the industrial robots. Also, the industrial robots provide high-quality products and services, increase the capabilities of manual labor in terms of efficiency, provide better customer services, and efficiently manage processes.
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The lack of a skilled workforce and high labor costs fosters the implementation of industrial robotics in various end-user industries in developed and developing countries. Although the initial and installation cost of implementing a robot is higher, nevertheless once implemented it delivers high productivity, efficiency, and profits. Many players have implemented industrial robotics solutions to reduce their labor costs and improve efficiency. Moreover, labor wages are on the rise, which is also expected to witness an upsurge in labor costs during the forecast period.
Current Market Trends Covered in the Global Industrial Robotics Market Report:
- Increased investments in the new technologies positively affecting the industrial robotics market growth.
- Shifting consumer preferences towards cost-effective automated services products is expected to provide a growth rate to the industrial robotics market.
- The Asia-Pacific region will register a significant growth rate in the market during the forecast period.
- The new service offerings and geographical expansions will be the key strategy adopted by the global industrial robotics industry players
Global Industrial Robotics Market – Segmentation
By Type
- Traditional Robots
- Collaborative Robots
By End-User Industry
- Automotive
- Chemical, Rubber, and Plastic
- Electrical &Electronics
- Food &Beverages
- Metal & Heavy Machinery
- Others
Global Industrial Robotics Market – Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- ABB Ltd.
- American Robot Corp.
- ARC Specialties Inc.
- AUBO Robotics Inc.
- Bosch Rexroth AG, aBosch Company
- Comau S.p.A
- DENSO Robotics
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