Pune, May 12, 2023 (GLOBE NEWSWIRE) -- “The Industrial Robotics Market was valued at USD 25.45 billion in 2022, and it is projected to grow at a compound annual growth rate (CAGR) of 11.3% over the forecast period of 2023-2030, reaching a value of USD 59.93 billion by 2030, as reported by SNS Insider.”
Market Overview
Industrial robotics refers to the use of programmable robots or machines in manufacturing and industrial processes. These machines are designed to automate repetitive or dangerous tasks that are traditionally performed by human workers, with the goal of improving efficiency, productivity, and safety in industrial settings. Industrial robots are typically used in manufacturing facilities for tasks such as welding, painting, assembly, and material handling.
Market Analysis
As electric automobiles continue to gain popularity among new car owners, the impact of this trend on the industrial robotics market is significant. Car manufacturers are adopting automated robotic systems for the high-volume production of vehicles, reducing costs and increasing efficiency. This trend is expected to continue as more manufacturers realize the benefits of automation. In addition to the automotive industry, the use of industrial robotics is also expanding in other sectors. For example, in the healthcare industry, robots are being used for surgery and patient care, while in agriculture, drones are being used for crop monitoring and management. These technologies are improving the quality of life for people worldwide, and they are contributing to a more sustainable future.
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Key Company Profiles Listed in this Report are:
Major key players included in this report are ABB (Switzerland), DÜrr (Germany), FANUC (Japan), YASKAWA (Japan), KUKA (Germany), Denso Corporation (Japan), Mitsubishi Electric (Japan), Kawasaki Heavy Industries (Japan), Universal Robots A/S, NACHI-FUJIKOSHI (Japan), Panasonic Corporation, Rockwell Automation, Inc. (U.S.), Bosch GmbH (Germany), Yaskawa Electric Corporation (Japan), Toshiba Corporation (Japan), Seiko Epson (Japan) & More
Impact of Recession on Industrial Robotics Market Demand
Recessions can have both positive and negative impacts on the industrial robotics market. While the demand for industrial robots may decrease during an economic downturn, factors such as the need for efficiency and productivity, the COVID-19 pandemic, and government policies can also contribute to the market's growth.
Industrial Robotics Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 25.45 Billion |
| Market Size by 2030 | US$ 59.93 Billion |
| CAGR | CAGR of 11.3% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Industrial Robotics Market: Key Segmentation | • By Application (Palletizing, Assembling, Welding, Material Handling, Painting) • By Types (6-Axis Robots, SCARA, Cartesian, Articulated, Redundant, Delta, Dual-Arm, and Parallel) • By End-user (Entertainment, Electronics, Automotive, Rubber & Plastic, Food & Beverage, Pharmaceuticals) • By Component (Robotic Arms, End Effectors, Drive Units, Robot Accessories, Controllers, Vision Systems, Sensors) |
| Key Regional Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Key Regional Developments
The Asia Pacific region is at the forefront of the global industrial robotics market. With the rise of industries and factories that utilize industrial robots for manufacturing processes, the region has become a hub for innovative and advanced automation technologies. This trend is expected to continue as more businesses seek to increase efficiency and reduce costs through automation. The use of industrial robots has become increasingly popular in the region due to their ability to handle repetitive and dangerous tasks with precision and speed. With the advancements in artificial intelligence and machine learning, these robots are becoming even more sophisticated, capable of performing complex tasks that were once reserved for human workers.
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Key Takeaway from Industrial Robotics Market Study
- The palletizing segment is poised to dominate the market in the coming years, driven by the increasing demand for automation, advanced robotic technologies, and sustainability in manufacturing.
- The robotic arms segment is set to dominate the market in the coming years due to their versatility, cost-effectiveness, and ability to perform a wide range of tasks. As industries continue to adopt advanced manufacturing techniques and technologies, robotic arms will play an increasingly critical role in driving productivity and efficiency.
Recent Developments Related to Industrial Robotics Market
- ABB, one of the world's leading industrial robotics companies, has recently announced a partnership with Covariant, an AI startup focused on developing autonomous robotics technology. This partnership marks a significant step forward in the integration of AI and robotics, as both companies aim to create more advanced and efficient robotic systems for industrial use.
- Rapid Robotics, a company that specializes in the development of easy-to-use robotic automation solutions, has recently announced a new partnership with Yaskawa Motoman, a leading manufacturer of industrial robotic arms. This collaboration will allow both companies to expand their range of offerings and provide more efficient and cost-effective solutions to the manufacturing industry.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Industrial Robotics Market Segmentation, by Application
9. Global Industrial Robotics Market Segmentation, by Type
10. Global Industrial Robotics Market Segmentation, by End-user
11. Global Industrial Robotics Market Segmentation, by Component
12. Regional Analysis
13. Company Profiles
14. Competitive Landscape
15. Conclusion
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SNS Insider is one of the leading market research and consulting agencies that dominate the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
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