Westford, USA, June 11, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that industrial robotics market will attain a value of USD 44.87 billion by 2031, with a CAGR of 13.2% during the forecast period (2024-2031). The global demand for industrial robotics solutions is expected to surge due to the growing necessity for IoT security, streamlined processes supported by transparency and immutability, and the widespread adoption of blockchain-based solutions utilizing smart contracts and AI. High demand for decentralized systems and the growing adoption of IoT devices are projected to strengthen the growth of the industrial robotics market.
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Browse in-depth TOC on "Industrial Robotics Market"
- Pages - 202
- Tables - 163
- Figures – 80
Industrial Robotics Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 16.6 billion |
| Estimated Value by 2031 | USD 44.87 billion |
| Growth Rate | Poised to grow at a CAGR of 13.2 % |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Payload, Component, Application, End Use |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Robotics Driving Efficiency and Flexibility in Industry 4.0 Transformation. |
| Key Market Drivers | Growing Demand from Emerging Economies to Bolster Market Growth |
High Demand for E-Commerce Purchasing and Speedy Deliveries Driving the Dominance of Handling Robotics Segment
The handling robotics segment dominates the industrial robotics market due to the rapidly increasing demand for e-commerce buying and faster deliveries. Many companies are now extending their interests towards various automation technologies which can enhance the flow of business logistics because of the recent developments in the e-commerce industry. Advancements such as those by Amazon are now revolutionizing the handling and transportation of products within warehouses and fulfillment centers to an even greater level of speed and efficiency than ever before. As a result, robotic systems with their speed and accuracy can indeed help those high-volume organizations particularly in automobile and electronics industries in their business needs. Now, as more and more industries are trying to meet the consumer desire for fast delivery orders, leveraging robotics is becoming one of the key trends in the industrial robotics market throughout the world.
Processing Robotics Industrial Efficiency in its development makes it the market’s fastest-growing segment.
The processing robotics category gains the market’s highest CAGR due to its critical contribution to improving industrial performance. Growing at a compound annual growth rate of well over 20%, these robots are transforming processes including painting and cutting with near perfect accuracy. Programming enables it to work continuously, and because of this, it is almost impossible to replace robots in areas that humans cannot access. High adoption rates are such because it is the norm in the industry where organizations are shifting towards automation regarding their operations to enhance efficiency and effectiveness.
Growing Automation and Other Advanced Technologies Help Asia Pacific to gain a Significant Market Share
Various industries across the Asia Pacific have initiated the adoption of automation, AI and other cutting-edge technologies. Thereby fueling the growth of this market in this region. Due to the usefulness of robotics systems in enhancing effectiveness, production and profitability, there has been a move by businesses to adopt the system. Asia Pacific holds the maximum share of the industry due to its evolving manufacturing sector, along with favorable government initiatives and huge investments in robotics R&D activities.
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Drivers
- Growing Demand from Emerging Economies to Bolster Market Growth
- Advancements of Robotics Technology within Various Industries
Restraints
- High Implementation Costs
- Limited Skilled Workforce may hinder the market growth
Prominent Players in Industrial Robotics Market
- ABB Ltd
- Fanuc Corporation
- Yaskawa Electric Corporation
- Kuka AG
- Kawasaki Heavy Industries Ltd
- Mitsubishi Electric Corporation
- Denso Corporation
- Epson Robots
- Staubli International AG
- Nachi-Fujikoshi Corporation
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Key Questions Answered in Industrial robotics Market Report
- What drives the global industrial robotics market growth?
- Who are the leading industrial robotics providers in the world?
- Where will industrial robotics demand soar high?
This report provides the following insights:
- Analysis of key drivers (growing demand for better data security, rising adoption of Blockchain and IoT technologies, increasing use of decentralized systems in different industry verticals), restraints (interoperability issues with legacy systems, complexities in integration with existing infrastructure, concerns regarding scalability of industrial robotics systems), and opportunities (growing demand for data monetization, rising demand for transparent yet trusted transactions), influencing the growth of Industrial robotics market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Industrial robotics market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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