New York, USA, Nov. 03, 2021 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global industrial robotics market is expected to generate a revenue of $85.2 million by 2026, growing expeditiously at a CAGR of 8.6% during the forecast period 2019-2021. The comprehensive report provides a brief overview of the current scenario of the market, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the forecast period. The report also offers the market figures, which makes it easier and more beneficial for the new participants to understand the real-time scenario of the market.
Request to Download Sample Report of Global Industrial Robotics Market
Factors Influencing the CAGR Figures Pre and Post the COVID-19 Outbreak
The report reveals the real-time air compressor market CAGR registered of the market during the pandemic. According to the report, the market is predicted to grow at a CAGR of 8.8% during the forecast period, while it was anticipated to be 9.5% in the pre-COVID-19 scenario from 2019 to 2026. Most of the end-use industries and their operation of work were shut down, owing to the prevalence of lockdowns in various countries across the globe. In addition, high installation cost of industrial robots is further expected to hinder the growth of the global industrial market during the forecast period.
Factors Impacting the Market Size Pre and Post the COVID-19 Outbreak
According to the report, the real-time industrial robotics market size has significantly decreased compared to the pre-COVID-19 estimations. The real-time market size reached a revenue of $33.4 million in 2020, while its estimations were $51.4 million during the pre-COVID scenario. The technology used in the industrial robots need constant updates with latest improvements. In addition, its regular maintenance and high consumption of electricity is further expected to impede the growth of the market during the forecast period.
Get Access to Comprehensive Analysis of the Impact of Covid-19 on Industrial Robotics Market
Post Pandemic Insight
As per the report, the global industrial robotics market is expected to recover by 2nd/3rd quarter of 2022. However, rising adoption of automation in numerous end-use industries and implementation of AI and machine learning in industrial robots is expected to create immense opportunities for the growth of the market. In addition, various governments incessantly investing in these robots so as to design the production flow is further predicted to bolster the growth of the market during the forecast period.
The Major Players of the Industrial Robotics Market Include -
- Mitsubishi Electric Corporation
- Kobe Steel Limited
- Panasonic Corporation
- Daihen Corporation
- Kobelco Paint Robot
- Denso Corporation
- KUKA AG
- Yamaha Motor Company Ltd.
- Yaskawa Electric Corporation
These market players are concentrating on developing strategies such as new product launches, research and development, following trending market ideas, building product portfolio, mergers & acquisitions, collaborations, and business expansions. Inquire and Get Quick Access to Top Companies Development Strategies Summary Report
For instance, in March 2021, Accenture, an Irish-based multinational professional services company that specializes in IT services and consulting, acquired Pollux, a Brazil-based dominant provider of industrial robotics and automation solutions, in order to optimize Accenture’s manufacturing and logistics processes.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
Top Trending Reports -
- Collaborative Robot Market - Global Opportunity Analysis and Industry Forecast, 2019–2026 - Request PDF Sample
- Humanoid Robot Market - Global Opportunity Analysis and Industry Forecast, 2019–2026 - Request PDF Sample
- Agriculture Robot Market - Global Opportunity Analysis and Industry Forecast, 2018-2026 - Request PDF Sample
