Industrial robot is an automatic robot system used for the purpose of manufacturing in various companies. These are programmable mechanical devices capable of performing repetitive and dangerous tasks eliminating the human workforce ensuring higher accuracy. Robots comprise of machine vision sub-systems that act as their visual sensors that are connected to powerful controllers, used for more precise directions. Industrial robots could be characterized into Gantry Robots, SCARA Robots, Cartesian Robots, Articulated Arm Robots, Human Assist Robots depending upon the type of application and tasks to be performed in different industries. Robotics also provides software programming, recommendations, and training along with information and resources for the companies to design systems, determine low-cost solutions, or provide retrofitting of the used systems of application.
Global Industrial Robotics Market is expected to project a notable CAGR in 2030.
Global Industrial Robotics Market to surpass USD XXXX million by 2030 from USD XXXX million in 2020 at a CAGR of XX% throughout the forecast period, i.e. 2020-30. Global Industrial Robotics Market is expected to observe growth in the future due to its advanced technologies offering a reduction in costs, increased rate of operations, improved quality, and manufacturing efficiency to the industries. The incorporation of Artificial Intelligence such as the development of self-programming robots and deep learning is expected to accelerate the growth of the industrial robotics market.
Recent Highlights in Global Industrial Robotics Market
In October 2019, ABB (Switzerland) announced investment in Shanghai, China worth USD 150 million for setting up an advanced robotics factory to manufacture robots that would be operational by the end of 2020.
Global Industrial Robotics Market: Segments
Articulated Robots segment to grow with the highest CAGR during 2019-30
Global Industrial Robotics Market is segmented by product type into SCARA Robots, Articulated Robots, Human-Assist Robots, Cartesian Robots. The articulated Robots segment held the largest market share of XX.X% in the year 2018 and is anticipated to dominate the global market throughout the forecast period. Articulated robots hold diverse uses such as assembling and packaging, welding, painting, palletizing, etc., and are not limited to move along a corresponding coordinate axis and have a flexible movement allowing them to perform complex tasks.
Handling segment to grow with the highest CAGR during 2019-30
Global Industrial Robotics Market is segmented by application into Handling, Dispensing, Welding and Soldering, Assembling & Disassembling and Others. The material Handling segment held the largest market share of XX.X% in the year 2019 and is expected to maintain this trend throughout the forecast period.
Automotive segment to grow with the highest CAGR during 2019-30
Global Industrial Robotics market is also segmented by end-users into Food and Beverage, Automotive, Healthcare and Pharmaceuticals, Electrical & Electronics, and Others. Automotive segment held the largest market share of XX.X% in the year 2018 and is anticipated to grow with the highest CAGR throughout the forecast period. Automotive industry is the largest user of industrial robots for manufacturing and assembling components such as chassis, engines, brakes, etc. Healthcare and pharmaceutical segment is also expected to witness growth since robotics applications enable us to work in sterile environments eliminating the possibility of contamination from environment or humans at the time of component transfer.
Automation and mounting industrialization
Government bodies and industries are implementing significant schemes for promoting advanced manufacturing technology by introducing automation which has simplified the production process and mostly eliminated the use of human labor in performing various operations, thus, leading to a fall in the costs of production. Rapid industrialization has also fostered the growth of the industrial robotics market.
Dearth of skilled workforce
Shortage of skilled workforce leads to higher labor costs which have encouraged industries to adopt industrial robotics solutions that tend to reduce their labor costs and offer high efficiency, productivity and profits. Tasks that face difficulty to be performed by human workforce favor the adoption of industrial robotics since it simplifies the operation and increases productivity.
High Investment Costs
Higher installation and investment costs are incurred for the functioning of industrial robots in various industries which is a key restraining factor for the growth of the industrial robotics market.
Impact of Covid-19 on Industrial Robotics Market
The implementation of lockdown throughout the world has caused disruption of activities among various industries which has hampered the growth of the industrial robotics market. Automotive industry majorly makes use of industrial robots in manufacturing and assembling processes of engines, axles, chassis, etc., pandemic has slowed down the production process considerably reducing consumer demand as a result of which a fall in the investment by vehicle manufacturers is anticipated to affect the industrial robots’ market. Shortage of skilled laborers due to the spread of coronavirus has encouraged manufacturers to turn to automation which would reduce the manufacturing costs, but high installation and investment costs are incurred for the functioning of industrial robots in various end-use industries which have adversely impacted the industrial robotics market.
Global Organic Market: Key Players
Key Product Offerings
Key Performance Indicators
Omron Adept (US)
Other Prominent Players
Global Industrial Robotics Market: Regions
Global Industrial Robotics market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.
Global Industrial Robotics market in Asia Pacific region held the largest market share of XX.X% in the year 2018 due to rising automation majorly in manufacturing industry. Additionally, rising disposable income and population of the economy have led to an increase in consumer demand and consumption, subsequently led to a rise in the production capacity that could be enhanced with the use of robots in industrial applications.
Global INDUSTRIAL ROBOTICS market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Industrial Robotics market report also contains analysis on:
Industrial Robotics Market Segments:
By Product Type
Welding and Soldering
Assembling & Disassembling
Food and Beverage
Healthcare and Pharmaceuticals
Electrical & Electronics
Industrial Robotics Market Dynamics
Industrial Robotics Market Size
Supply & Demand
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints