The global industrial robotics market size was valued at US$ 38.34 Bn in 2017 and is expected to reach US$ 81.2 Bn by 2026 to exhibit a CAGR of 9.83 % during the forecast period.
Global industrial robotics market
The objective of the report is to present a comprehensive assessment of the Market and contains thoughtful insights, facts, historical data, industry-validated Market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global industrial robotics market dynamics, structure by identifying and analyzing the market segments and project the global Market size. Further, the report also focuses on the competitive analysis of key players by Type, price, financial position, Type portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global industrial robotics market.
An industrial robot is a system used for manufacturing. Industrial robots are automatic, programmable and capable of movement on three or more axes. Repeatability, precision, and accuracy is commonly the most important criterion for a robot. The setup and sequences for an industrial robot are normally trained by linking the robot controller to a laptop, desktop computer or network.
A rise in investments for automation in industries, increasing penetration of the IoT, rising demand for high-quality products, the necessity for energy conservation, and growth in the development of manufacturing capabilities are driving the growth of the market. Further robot help in enhancing productivity and decrease operational costs for manufacturers because of that is expected to increase the demand of the for industrial robotics market in upcoming years. Moreover, industrial robots can be mobile mounted at fixed positions for manufacturing works applications. They are used as transport devices in industrialized firms. Lightweight industrial robots are used in myriad applications across small-scale industries and the automotive sector.
High installation cost for low-volume production applications has hindered the growth of the market. Increase in demand for low-cost industrial robots capable of working in cooperation with humans is creating many opportunities in this market. Manufacturing advanced robotic systems that encounter requirements of consumers in the IoT and the need to securely handle industrial-grade processes are challenges the industrial robotics market.
Articulated robots are estimated to hold a large share of the market due to enlarged payload capacity, reliability, work envelope, and speed. Also, articulated robots are adopted for several industrial applications, such as welding, painting, assembly, packaging and so on. The growing rate of adoption of this robot for a myriad of applications is the important factor for the growth of the articulated robots market.
According to the global market analysis, the metals and machinery industry has multipurpose industries for automation solutions among all industries. It performs numerous functions from small details to higher performance in composite tasks. Metals and machinery industry is expected to grow at the highest rate during the forecast period owing to rising demand for machines in industries, like agriculture, packaging, and manufacturing, for various applications. In 2018 the automotive industry held the largest share of the industrial robotics market.
In 2018 the domestic service application is held the largest share of the robotics market and is expected to remain in the forecast period because of rising demand for domestic robots for domestic applications like vacuum cleaning and lawn mowing is the main factor driving the growth of the market. However, the market for entertainment, education, and personal applications are anticipated to develop at the highest rate in the coming years.APAC is expected to hold the largest share of the market in the forecast period owing to the low cost of production, allowing various manufacturers to set up their industrial units in APAC, specifically in countries such as China, Korea, and India. Automating the plant abilities is an additional crucial development adopted by manufacturers has increased the demand for industrial robots in the APAC.
The Scope of the Report for Global Industrial Robotics Market
Global Industrial Robotics Market, by Type
- Traditional Industrial Robots
o Articulated Robots
o SCARA Robots
o Parallel Robots
o Cartesian Robots
o Others
- Collaborative Industrial Robots
Global Industrial Robotics Market, by Industry
- Automotive
- Electrical and Electronics
- Plastics, Rubber, and Chemicals
- Metals and Machinery
- Food and Beverages
- Precision Engineering and Optics
- Pharmaceuticals and Cosmetics
- Others
Global Industrial Robotics Market, by Service Application
- Domestic
- Entertainment, Education, and Personal
- Defense, Rescue, and Security
- Field
- Medical
- Public Relations and Inspection
- Logistics
- Human Exoskeleton
- Construction
Global Industrial Robotics Market, by Region
- North America
- Europe
- Asia-Pacific
- Middle East & Africa
- South America
Key Players operating in the Global Industrial Robotics Market
- ABB Ltd.
- Kawasaki Heavy Industries, Ltd.
- Yaskawa Electric Corporation
- Fanuc Corporation
- Kuka AG
- Mitsubishi Electric Corporation
- Denso Corporation
- Nachi-Fujikoshi Corp.
- Comau S.P.A.
- Universal Robots A/S
- CMA Robotics S.P.A.
- Omron Adept Technologies, Inc.
- Panasonic Corporation
- ST Robotics
- Stubli International AG
- Yaskawa America, Inc.
- FANUC America Corporation
- iRobot Corporation
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