Industrial Robotics Market Analysis
Global Industrial Robotics market will rise a little above US$ 51.78 billion by 2032 rise to US$ 26.43 billion in 2023 growing at a CAGR of 7.69% from 2024 to 2032. This market is driven automotive industry is well-supported; the new F&B products are taking place; and the new technologies and products are emerging continuously.
Industrial Robotics Market Outlook
Industrial robotics is a concept that deals with the application of robotics in industrial relations through which humans perform several tasks. These robots are very accurate, fast and have high reproducibility, features that make them suitable for numerous applications in different operations.Automotive manufacturing is one of the largest segments of industrial robots where welding, painting, assembly, and material handling industries are popular uses. They increase productivity and output, save costs on employees, and considerably decrease the possibility of trademark infringement, employee mishaps, and occupational diseases. Humans cannot risk performing certain high precision operations such as welding, installation of microchips, and testing, hence, the use of robots in electronics manufacturing. Some of the other applications are in the packaging and palletizing industry uses the robot for repetitive work especially in the food and beverage industries, while in the metal fabrication industry, the robot is useful in cutting, grinding and polishing of various items. In pharmaceuticals robots assist in drug manufacture, packing, handling and dispensing of toxic products, a factor that helps in minimizing on dangers that may occur.
Driving Forces of the Global Industrial Robotics Market
Increasing demand for manufacturing automation enhances efficiency, reduces costs, and improves product qualityThe high demand for the application of automations in manufacturing processes is attributed to the possibility to enhance the efficiency, reduce the costs, and increase the quality of the final result. Industrial robots give a very impressive performance in terms of welding, painting, assembly, and material handling and the performance quality is equally impressive with high accuracy rates. The automation of these operations enables companies to enhance the stream of production and ultimately the operation, productivity and company cost savings increase while the quality of the product is consistently upheld. With the rise of the technologies in automation across the world, industrial robots play an important role in enhancing the manufacturing operations as well as enabling competitive innovations in different industries.
Rapid developments in robotics technologies, including artificial intelligence, machine learning, and advanced sensors
Recent technological development in applied fields, AI, machine learning, and modern sensors are changing the dynamics of industrial robots. These technologies enhance robustness of robots to operate independently, intelligently and especially in the complex production processes. Big data in the context of building AI capacity enables robots to come up with real-time decisions and adjust assembly, inspection and logistic processes in view of real-time insights, thus increasing precision and quality.
Cognitive robotics techniques also make use of machine learning framework where robots learn from the experience; learn from the previous interactions and the processes get better with time. Measuring devices such as vision and tactile improve a robot’s sensing ability to safely maneuver in these environments, or to manipulate objects with greater precision. Such technologies don’t only improve and complement the operations of the industrial robots but also widen the practical uses of the technology in the several industries. They introduce change, enhance production efficiency and allow the manufacturers to attain higher levels of responsiveness and profitability in the international markets.
Global market globalization and scalability demands are driving global industrial robot adoption.
The globalization of markets for coupled with the need for mass production solutions, is the reason as to why industrial robots are being adopted across the globe. Industrial robots are therefore useful in ensuring that companies are able to adopt efficient automation systems especially as they embark on global expansion. These robots help in mass production through the cutting down of costs occasioned by labor, proper utilization of time, and quality control. In this case, the use of industrial robots in manufacturing industries allows the producer to satisfy market needs regarding variety quickly and responses to a change in the economic environment quickly. Thus, the strategic incorporation of robotics in business is instrumental in driving productivity and operational flexibility that is crucial for prosperity in today’s globalized and highly competitive economy.
Asia Pacific Industrial Robotics Market
The Asia Pacific industrial robotics market is experiencing robust growth driven by rapid industrialization, technological advancements, and increasing automation across various sectors. Countries like Japan, South Korea, and China are at the forefront of this expansion.Industrial robotics is a continually evolving market worldwide and more specifically in the Asia Pacific making a fast and healthy growth rate because of increased industrialization, growth in technologies and automation across the industries. Major players involved in this expansion are the Asian countries such as Japan, South Korea, and China.
The occurrence of industrial robots installation is high in China due to its position as the largest manufacturing country in the world comprising of automotive, electronics, and logistics sectors. This growth is stimulated by the country’s commitment to automation to enhance efficiency and measures of quality.
Being one of the most technologically advanced nations in the world, Japan is not resting on its oars as regards industrial robotization; it has shifted a notch higher, especially in precision manufacturing and high level robotization in health and electronics sectors.
South Korea is another region that is strategically important and famous for its industries involved in Robotics and automation. Manufacturers in the country heavily use the robots in automobile production, microchips, and other electronic devices.
Global Industrial Robotics Company Analysis:
The leading players in the Industrial Robotics market include KUKA, iRobot Corporation, Intuitive Surgical Inc., Panasonic Corporation, Fanuc, ABB Ltd, and Stryker Corporation.Global Industrial Robotics Company News:
May 2024: At Automate 2024, ABB, a producer of industrial robots, presented its most recent modular giant robots. These robot arms now offer 46 different versions in addition to the previously introduced IRB 5710-5720 and IRB 6710-6740 models. These versions can handle weights between 70 and 620 kg or around 150 and 1,350 pounds.March 2024: The MiR1200 autonomous pallet jack is the newest product that Mobile Industrial Robots has released. The MiR1200 Pallet Jack is outfitted with cutting-edge 3D vision technology and is intended to simplify labor-intensive material handling tasks. This robot can dynamically modify its path to ensure navigation even in obstructions like loose items on the ground or impediments hanging overhead.
Segments - Market & Volume has been covered from 6 viewpoints:
1. Automotive Industry & Forecast2. Electrical & Electronics Industry & Forecast
3. Metal &Machinery Industry & Forecast
4. Plastic & Chemical Products
5. Food Industry & Forecast
6. Others
Countries - Market has been covered from 16 viewpoints:
- America
- United States
- Canada
- Mexico
- Others
- Europe
- France
- Germany
- Italy
- Spain
- Others
- Asia Pacific
- China
- India
- Japan
- Republic of Korea
- Thailand
- Others
- Rest of the World
Company Insights:
- Overview
- Recent Development & strategies
- Product Portfolio
- Financial Insights
Key Players Analysis:
1. KUKA2. iRobot Corporation
3. Intuitive Surgical Inc.
4. Panasonic Corporation
5. Fanuc
6. ABB Ltd.
7. Stryker Corporation
Table of Contents
1. Introduction2. Research Methodology3. Executive Summary5. SWOT Analysis
4. Market Dynamic
6. Market & Volume Analysis - Global Industrial Robotics
7. Share Analysis - Global Industrial Robotics
8. Segments - Industrial Robotics Market & Volume Analysis
9. By Region Industrial Robotics Market
10. Company Analysis
Companies Mentioned
- KUKA
- iRobot Corporation
- Intuitive Surgical Inc.
- Panasonic Corporation
- Fanuc
- ABB Ltd.
- Stryker Corporation
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 170 |
| Published | July 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 26.42 Billion |
| Forecasted Market Value ( USD | $ 51.78 Billion |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 7 |
