Global Industrial Robotics Market: the latest trends and beyond

Posted by kishore on January 22nd, 2020

Market Overview:

An industrial robot is an automatically controlled, reprogrammable and a multipurpose machine. The industrial robotics sector can be more practically described as the study, design and use of robot systems for manufacturing. Industrial robot technology is progressing rapidly where the robots of the future will far exceed the capabilities of today’s robots. Typical applications of industrial robots include painting, welding, assembling, pick and place, and testing, all accomplished with precision speed and high endurance. 

As per the report published earlier, the size & Growth of the Industrial Robotics Market is expected to reach 76.4 Billion USD by 2024, with a significant increase from 47.5 Billion USD in 2019, and is expected to grow at a CAGR of 9.5% during the forecast period.

Recent Trends:

The industrial robotics industry has already invested in sensor and data technology over the last years, and it is now moving rigorously towards advanced analytics and AI to factories. Hence, the adoption of artificial intelligence in factories and manufacturing will accelerate in future.

Another advancement is the application of AI for self-driving cars and other autonomous devices. AI will be applied to drones and other ground-moving vehicles – in agriculture, mining or places where autonomous vehicles can add value. 

Market Drivers and Restraints:

Industrial robots come with plenty of benefits, regardless of which type of industrial robot is being implemented. The market for industrial robots is enormous and proliferating. This industry is also majorly driven by a surge in labor charges worldwide, which in turn has enforced manufacturers to take over human labor with machines. 

But it can be challenging to keep up with the fast pace of change in the robotics industry. Furthermore, the high expenses of industrial robotics solutions is a significant drawback for the overall market growth.

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Report Segmented as:

By Type

• Collaborative Robots 
• Linea Robots 
• Cylindrical Robots
• Articulated Robots 
• Other Robots

By End-User

• Construction
• Automotive 
• Food and Beverage 
• Chemical 
• Other Industries 

By Application

• Material Handling
• Soldering and Welding
• Painting and Dispensing
• Milling
• Cutting and Processing 
• Others

Geographical Segmentation:

The Asia-Pacific region held the highest revenue in the global industrial robotics market in 2018. Germany in Europe, along with Japan dominate the robot market, closely followed by the U.S. and South Korea. These countries are highly industrialized and still have an extensive domestic automotive market for the integration of industrial robots.

Key market players:

1. YASKAWA
2. ABB
3. KUKA
4. DENSO
5. Mitsubishi Electric
6. FANUC
7. Durr & Epson
8. Kawasaki Heavy Industries

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Scope of the report:

The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along with this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level.

Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.

The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.

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