NEWARK, Del, Aug. 24, 2023 (GLOBE NEWSWIRE) -- The global industrial robotics sector is poised to hit an impressive valuation of around US$ 220 billion by 2033, exhibiting a CAGR of 18.9% during the forecast period. This substantial surge in value marks a notable increase from its valuation of US$ 39 billion in 2023.
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Remaining competitive within the manufacturing sector hinges significantly upon the integration of automation. Therefore, the industrial robotics sector is currently undergoing a notable surge. The universal turbulence in the global economic landscape and the disruptive supply chain waves have substantially influenced the industrial robotics market. Furthermore, the rapid utilization of contemporary technological advancements has further bolstered the adoption of industrial robotics.
Numerous industries nowadays are dealing with two significant challenges: an ongoing shortage of skilled labor and the persistence of human errors. This has enormously propelled the adoption of industrial robots. Human-operated processes often struggle to match the efficiency and precision that robotics bring to the table. Therefore, industries are increasingly embracing automation to streamline operations, uplift productivity, and minimize human errors.
In July 2023, the article titled "UN Turns to AI-Powered Robots to Monitor Climate Change" discusses how the United Nations is using robots with AI capabilities to keep a close watch on the impacts of climate change. When it comes to data collection, these smart robots are really stepping it up. They are improving its accuracy, effectiveness, and safety, especially in difficult-to-reach places.
What Lies Ahead for the Future of Industrial Robotics?
The advent of Industry 4.0 has further spurred the emergence of novel technologies such as collaborative robots and AI-driven robotic systems. The emergence of AI-driven automation stands as a hallmark of this age. Given this advancement, industries can now employ robotics to streamline various processes. This move toward robotic integration has improved workplace security and boosted productivity. This has thereby prompted industries to make substantial investments in robotic systems.
The integration of industrial robots with the Internet of Things (IoT) starts a new age. This fusion enhances various aspects of robotics. This includes predictive maintenance, reduction of downtimes, and the optimization of overall robotic performance. Furthermore, the introduction of 5G technology is anticipated to stimulate the adoption of robotics within the manufacturing industry.
Key Takeaways
- The application of industrial robotics is rising in various sectors like food, electronics, and metalwork, where they're utilized for painting, welding, packaging, labeling, etc.
- Increasing vehicle demand, particularly in developing nations, fuels global passenger car sales and prompts manufacturers to adopt robotics for enhanced production.
- Articulated robots are becoming increasingly popular in pharmaceuticals, automotive, logistics, and more sectors.
A Closer Look at Country-wise Dynamics
Robot installations in the United States experienced a remarkable 14% surge, reaching a total of 41,624 units in 2022. This accomplishment really made that year stand out as a huge success in the industry. The future outlook is equally promising, with projected revenue of US$ 77.9 billion anticipated by 2033.
Since 2013, China has taken the lead as the world's prime industrial robots market. The core objective of "Made in China 2025" was to expand the industrial robotics market in China. Hence, the market in China is projected to surpass US$ 15.8 billion revenue by 2033.
Labor costs in the United Kingdom are on the rise. This is leading to a shortage of available workers. This has prompted a shift toward industrial robotics, backed by government investment to counter the issue. The valuation of the United Kingdom industrial robotics market is projected to reach US$ 9.3 billion by 2033.
| Attribute | Valuation | |
| The United States Industrial Robotics Market | ||
| CAGR (2023 to 2033) | 18.7% | |
| Market Size (2033) | US$ 77.9 billion | |
| The United Kingdom Industrial Robotics Market | ||
| CAGR (2023 to 2033) | 17.9% | |
| Market Size (2033) | US$ 9.3 billion | |
| Chinese Industrial Robotics Market | ||
| CAGR (2023 to 2033) | 18.2% | |
| Market Size (2033) | US$ 15.8 billion | |
| Industrial Robotics Market in Japan | ||
| CAGR (2023 to 2033) | 17.2% | |
| Market Size (2033) | US$ 12.9 billion | |
| South Korean Industrial Robotics Market | ||
| CAGR (2023 to 2033) | 16.4% | |
| Market Size (2033) | US$ 7.6 billion | |
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Which Segmentation is Taking the Lead?
SCARA robots are becoming really popular in the market. This segment is predicted to experience a remarkable 17.2% CAGR between 2023 and 2033, a notable increase from the 12.1% CAGR recorded between 2018 and 2022.
The assembly/disassembly application segment holds a prominent position in the industrial robotics market. Its widespread usage and adaptability across various industries is the reason behind this supremacy. This segment is expected to witness a CAGR of 16.9% through 2033.
A Glimpse into Recent Developments
In August 2023, Olis Robotics raised an extraordinary US$ 4.1 million in funding for its industrial robotics technology. The funding round was led by PSL Ventures, with additional support coming from Tectonic Ventures, Ubiquity Ventures, and certain notable angel investors.
In May 2023, FANUC CORPORATION America introduced an exciting development at Automate 2023. They unveiled two new collaborative robots designed to handle heavier loads. These new additions are designed to expand the CRX and CR cobot lines. These variations can handle all sorts of products, from as light as 4 kg to as heavy as 50 kilograms.
About the report
In this report, a comprehensive overview of the industrial robotics market has been analyzed. It provides valuable insights and analysis, covering a wide range of aspects. This includes in-depth market sizing and forecasts for industrial robotics, with detailed breakdowns of revenues. The projections extend over the next ten years, reaching through 2033.
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