Industrial Robotics Category Is Expected to Grow at CAGR of 10.5% From 2023 to 2030Posted by rahul nikade on December 14th, 2023 Industrial Robotics Procurement Intelligence The global industrial robotics category is anticipated to grow at a CAGR of 10.5% from 2023 to 2030. Growth of the category can be attributed to increased focus on ensuring workplace safety, rising attention for increasing the productivity of assembly lines supporting high volumes, increasing need for collaborative robots across multiple industries, higher adoption of Industry 4.0, and stringent federal guidelines for handling dangerous goods and materials. However, challenges pertaining to integration and complexities associated with the product offered in the category may hinder the global demand. Interoperability is essential in any manufacturing facility and small & medium enterprises (SMEs) are particularly challenged by interoperability concernsbecause of their exceptional needs and staffing shortages when it comes to setting up sophisticated automation systems. Order your copy of the Industrial Robotics category procurement intelligence report 2023-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis Industrial Robotics Procurement Intelligence Report Scope The Industrial Robotics category is expected to have pricing growth outlook of 10% - 15% decrease (Annually) from 2023 to 2030, with below pricing models.
Supplier Selection Scope of Report
Supplier selection criteria of Report
Industrial Robotics Procurement Intelligence Report Coverage Grand View Research will cover the following aspects in the report:
Industrial Robotics Procurement Cost and Supplier Intelligence Purchase cost (cost of robot, cost of training, and extended warranty costs), power consumption, maintenance cost and downtime cost are the key components that constitutes the total cost of ownership for the products offered in this category. The purchase cost constitutes 50% - 80% of total cost, therefore, it is recommended to the product’s reliability into account because low reliability would result in significant downtime and spare component costs (which are included in maintenance costs) that increase overall operational costs. Without a robot downtime history record, it can be challenging to assess the cost of robot downtime. Purchasing a new industrial robot will cost over USD 24,900 for entry-level options and go up-to over USD 99,900 for higher tech versions. The price depends on number of factors, such as the end-of-arm tool (EOAT), software, teach pendant, controller, etc. The ultimate cost of a robot can be greatly influenced by any of these add-ons. Asia-Pacific region dominates the global industrial robotics category, holding over 64.9% of global market share. Many firms and sectors in this region utilize industrial robots in their manufacturing operations. Moreover, this region possesses substantial growth potential due to the increasing trend toward artificial intelligence, automation, and the development of other cutting-edge technologies. The Middle East & Africa region is anticipated to witness the fastest growth during the projected timeframe owing to the growing number of industrial initiatives being undertaken by the governments of various nations in this region. For instance, in 2022, the crown prince of Dubai launched a “robotic & automation program” with an objective to boost the adoption of robotics in the nation. Furthermore, assessing if the robotic solution offered by the supplier supports the required application area, thoroughly reviewing the warranty terms offered by the supplier, evaluating if the supplier is capable to offer technical support post sales, negotiating on the best pricing term for the product on offer are some of the best sourcing practices considered in this category. List of Key Suppliers
Add-on Services provided by Grand View Research Pipeline:
Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process
Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier
Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.
A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc. Browse through Grand View Research’s collection of procurement intelligence studies:
Brief about Pipeline by Grand View Research: A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions. Our services include (not limited to):
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