Westford,USA, Jan. 08, 2024 (GLOBE NEWSWIRE) -- The global Industrial Robots market size is expected to reach USD 56.12 billion by 2030 and exhibit a CAGR of 11.22% in the forecast period (2023−2030), according to Skyquest's latest research report. The increased operational efficiency in manufacturing and industrial processes, cost reduction through labor savings and decreased error rates, the demand for high precision and consistency in tasks, and the ability of industrial robots to handle hazardous or repetitive tasks, thereby enhancing worker safety, fueling the market's growth.
According to SkyQuest's latest global research of the Industrial Robots market, increasing adoption of collaborative robots (cobots) that can work alongside human workers, the rise of smart manufacturing, and the Industrial Internet of Things (IIoT) leading to interconnected and data-driven robotic systems, a growing focus on sustainability and energy efficiency in robotic designs, the expansion of robotics in logistics and e-commerce to handle order fulfillment and warehousing tasks, and the development of artificial intelligence and machine learning applications that enable robots to learn and adapt to changing environments are the trends that aid in the market's growth.
Browse in-depth TOC on "Industrial Robots Market"
- Pages - 157
- Tables - 69
- Figures -77
Industrial robots are programmable machines that can perform a variety of tasks in manufacturing and other industries. They are typically used to automate repetitive and dangerous tasks, such as welding, painting, and assembling products. Industrial robots can be programmed to perform complex tasks with a high degree of accuracy and precision.
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Prominent Players in Industrial Robots Market
- ABB
- Yaskawa
- FANUC
- Kawasaki Heavy Industries
- Kuka
- Mitsubishi Electric
- Nachi Robotics
- Stäubli Robotics
- Denso
- Epson
- Omron Adept Technologies
- Universal Robots
- Comau
- Stäubli Robotics
- Hiwin Technologies
- Hyundai Robotics
- Nachi Robotics
- Panasonic Robotics
- Reis Robotics
- SCARA Robotics
- Yaskawa Motoman
- AUBO Robotics
- SIASUN Robot
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 26.52 Billion |
| 2030 Value Projection | 58.95 Billion |
| CAGR | 10.5% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Articulated Robots Demand to Grow Substantially in the Forecast Period
Articulated Robots dominates the global online market as they have multiple joints and can mimic the movements of a human arm. This flexibility makes them suitable for various applications, including welding, assembly, material handling, and painting. As industries like automotive, electronics, and manufacturing increasingly require robots that can perform multiple tasks and adapt to different product lines, articulated robots have become a preferred choice. They offer precision, dexterity, and the ability to work in confined spaces, which are valuable attributes in manufacturing and industrial settings.
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The Automotive Industry is the Leading Application Segment
In terms of application, the automotive industry is the leading segment as they are essential for automating complex and repetitive tasks, enhancing production efficiency, and ensuring quality control. As the automotive sector evolves with the introduction of electric vehicles and autonomous driving technologies, the demand for industrial robots in manufacturing and assembly processes will continue to grow. Furthermore, the automotive industry's cyclical nature drives the need for flexible automation solutions, which industrial robots can provide.
North America is the leading Market Due to Technological Advancements
Region-wise, North America is one of the largest growing markets with a significant emphasis on technological advancements. The region is a manufacturing hub with a strong presence in automotive, electronics, and other industries that heavily rely on industrial robots for automation. The region's rapid industrialization high demand for consumer electronics, and automotive production have driven the need for automation solutions. Moreover, government initiatives to promote advanced manufacturing and Industry 4.0 have accelerated the adoption of industrial robots in the Asia-Pacific region.
A recent report thoroughly analyzes the major players operating within the Industrial Robots market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Industrial Robots.
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Key Developments in Industrial Robots Market
- In April 2023, Fanuc announced the launch of its new M-20iA robot. The M-20iA is a high-payload robot that is designed for a variety of applications, including welding and material handling.
- In March 2023, Universal Robots announced the launch of its new UR10e robot. The UR10e is a lightweight robot that is designed for a variety of applications, including machine tending and packaging.
Key Questions Answered in Industrial Robots Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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