Worldwide Industrial Robotics Industry is expected to expand with a CAGR of 9.4% during 2021-2027:
Advancement in technology, growing demand for sophisticated products and components with high accuracy, and increasing professional working activity in remote and hazardous environments are significant factors driving the growth of the global industrial robotics market. Moreover, robots are also being used across the entire production cycle in assembly, dispensing, milling, inspection, packaging, and palletizing. Further, advancements in end effectors and vision systems are also expected to contribute to the push for the industrial robotics industry.
By Segment: Automotive Industry Capture Lion’s Share:
By Segment, the global Industrial robotics market is segmented into Automotive Industry, Electrical & Electronics Industry, Metal & Machinery Industry, Plastic & Chemical Products, and Food Industry. As per our analysis, the automotive industry segment of the global industrial robotics market is projected to capture the lion’s share. The efficiency in vehicle manufacturing, inspection, and superior finishing, along with the review, are some of the prime factors contributing to the industrial robotics demand in the automotive market. According to the publisher, Global Industrial Robotics Market Size has reached US$ 25.69 Billion in 2021.
Asia & Australia has Dominant Market in the Global Industrial Robotics Market
Asia/Australia has become dominant in the global industrial robotics market in recent years. The dominance of the Asian/Australian region is ascribable to the rising automation in countries such as China, India, Japan, the Republic of Korea, and Thailand. Furthermore, the increasing population and disposable income of people expand the consumption of consumer goods and other products, owing to which the production capability is increasing, further supplementing the market size. Hence, the adoption of robotics in industrial applications is enriching to map the demand.
Similarly, European countries like France, Germany, Italy, and Spain are anticipated to show exponential augmentation due to the instantaneous emergence of industry 4.0 and smart factories. In addition, increasing demand for customized & compact robotic systems. Furthermore, the United States, Canada, and Mexico, located in the American region, have also shown substantial growth due to its demand across the manufacturing vistas. Numerous suppliers are also scheming to extend their business in the coming years across the region.
Competitive Landscape:
The industrial robotics market is highly fragmented. Industry and digitalization initiatives across regions provide lucrative opportunities in the industrial robotics market. The degree of transparency is high, considering the number of robotic trade shows across conducted areas from time to time. Overall, the competitive rivalry amongst existing competitors is elevated. Driving forward, acquisitions and collaboration of large companies with start-ups are anticipated to focus on innovation.
The key players studied in our report are iRobot Corporation, Intuitive Surgical, Inc, Panasonic Corporation, Fanuc, ABB Ltd, Stryker Corporation, and Yaskawa Electric Corporation. April 2021: ABB’s new ‘cobot GoFa ‘was awarded the prestigious - “Best of the Best Red Dot” award for its unique design concept, making new robots appealing to the users and efficient.
COVID-19 Impact on Global Industrial Robotics Market Growth Trends:
Amidst the COVID-19 era, it has been observed that the demand for industrial robotics had slowed down. Further, to control the spread of the pandemic, many countries across the globe implemented strict lockdown norms, which hampered all kinds of business activities. Demand & supply of products, raw materials, and manufacturing facilities have been completely disrupted due to the pandemic, which created weak demand for industrial robotics across the globe. However, the market grew at a healthy pace in 2021.
This latest research report “Industrial Robotics Market, Global Forecast By Segments (Automotive Industry, Electrical & Electronics Industry, Metal &Machinery Industry, Plastic & Chemical Products, and Food Industry), Region [America (the United States, Canada, and Mexico), Europe(France, Germany, Italy, and Spain) and(Asia/Australia (China, India, Japan, the Republic of Korea, and Thailand), Rest of The World], Companies (iRobot Corporation, Intuitive Surgical, Inc, Panasonic Corporation, Fanuc, ABB Ltd, Stryker Corporation, and Yaskawa Electric Corporation)” provides a detailed analysis of Industrial Robotics Industry.
Segments - Market & Volume Analysis have been covered from 6 viewpoints:
- Automotive Industry
- Electrical & Electronics Industry
- Metal & Machinery Industry
- Plastic & Chemical Products
- Food Industry
- Others
Region - Robotics Market have been covered from 4 viewpoints:
- America
- United States
- Canada
- Mexico
- Others
- Europe
- France
- Germany
- Italy
- Spain
- Others
- Asia/Australia
- China
- India
- Japan
- Republic of Korea
- Thailand
- Others
- Rest of The World
Company Insights:
- Overview
- Recent Development & Strategies
- Financial Insights
Company Analysis:
- iRobot Corporation
- Intuitive Surgical, Inc
- Panasonic Corporation
- Fanuc
- ABB Ltd
- Stryker Corporation
- Yaskawa Electric Corporation
What is the estimated value of the Global Industrial Robotics Market?
What is the growth rate of the Global Industrial Robotics Market?
What is the forecasted size of the Global Industrial Robotics Market?
Who are the key companies in the Global Industrial Robotics Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 190 |
| Published | February 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 25.69 Billion |
| Forecasted Market Value ( USD | $ 43.95 Billion |
| Compound Annual Growth Rate | 9.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 7 |
Table of Contents
Companies Mentioned
- iRobot Corporation
- Intuitive Surgical, Inc
- Panasonic Corporation
- Fanuc
- ABB Ltd
- Stryker Corporation
- Yaskawa Electric 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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