Industrial Robotics Market Set for Explosive Growth rate (CAGR) of 12.3% by 2030 | Emergen Research
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Growing penetration of the Industrial Internet of Things (IIoT) and Artificial Intelligence (AI) in industrial manufacturing
VANCOUVER, BC, CANADA, November 16, 2022 /EINPresswire.com/ -- The global industrial robotics market size reached USD 42.35 Billion in 2021 and is expected to register a revenue CAGR of 12.3% during the forecast period, according to latest analysis by Emergen Research. Rapid adoption of automation, IIoT, and AI in industrial manufacturing in combination with vision and other sensing systems, which enable robots to execute difficult tasks easily is one of the major factors driving revenue growth of the market. In addition, rapid growth of logistics and supply chain where warehouses and distribution centers are increasing demand for industrial robots owing to high priority for timely delivery as well as efficient and cost-effective manufacturing processes.
Rising demand for industrial robots by manufacturers for automation of tasks, improved worker safety, and increased overall production output with reduced wastage and cost-extensive operating costs is one of the key factors driving growth of the market. For instance, collaborative robots or Cobots when fitted with dispensing tools can be utilized for applying glue and other adhesives as well as can be fitted with a sanding kit can be utilized for polishing pieces for a bright and smooth finish. According to International Federation of Robotics (IFR), around 486,800 industrial robot units were shipped globally on 2022, which is an increase of 27% compared to previous year. Furthermore, Asia/Australia registered a significant growth rate with an increase in installations by 33%, reaching 354,500 units. The U.S. accounted up to 49,400 units of sale, which is 27% increase and Europe registered 15% growth rate with installation of 78,000 units.
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The global Industrial Robotics market report employs an extremely extensive and perceptive process that analyzes statistical data relating to services and products offered in the market. The research study is a pivotal document in understanding the needs and wants of the clients. The report is comprised of significant data about the leading companies and their marketing strategies. The Industrial Robotics industry is witnessing an expansion and change of dynamics owing to the entry of several new players.
The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
Key players involved:
ABB, FANUC Corporation, YASKAWA Electric Corporation., DAIHEN Corporation, Mitsubishi Electric Corporation, KUKA, DENSO Corporation, NACHI-FUJIKOSHI CORP, Seiko Epson Corporation, and Panasonic Holdings Corporation.
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Some Key Highlights From the Report
The SCARA robots segment accounted for moderate revenue share in 2021 due to growing need to reduce human efforts and errors in production process. SCARA robots are extensively used for pick-and-place or assembly processes requiring great speed and precision. In comparison, SCARA robot can operate quicker and fulfill optional cleanroom criteria. SCARA robot is suited for applications with a smaller field of action and limited floor space owing to compact design, making it easy to re-allocate in temporary or remote locations.
The material handling segment accounted for largest revenue share in 2021 owing to surge in demand for industrial robots from various industries such as food & beverages, electrical & electronics, automotive, and pharmaceutical, among others. Handling and transportation of dangerous chemical for humans is highly increasing demand for industrial robots. Both robotic material handling as well as machine tending systems provide reliable delivery of productivity gains in various applications, which is increasing demand for industrial robotics.
The electrical & electronics segment accounted for a significant revenue share in 2021. High demand for handling complicated consumer electronics, necessitate higher precision during assembly, which is one of the key factors driving revenue growth of this segment. Industrial robots are ideal for large and small electronics companies, which recognize that automation is the key to being globally competitive. It is essential for the electronics industry to have a robot with a soft and accurate arm to handle small and fragile parts. Industrial robots, such as SCARA robots, can achieve this low inertia and excellent precision while producing at high speeds.
The Global Industrial Robotics Market is further analyzed across the key geographical locations where the market has expanded to a significant size. The key region analyzed are North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report offers a country-wise analysis to provide a comprehensive analysis of the Industrial Robotics market in terms of production and consumption patterns, supply and demand ratio, import/export, revenue contribution, trends, and presence of prominent players in each region.
Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Emergen Research has segmented the global industrial robotics market based on type, application, end-user industry, and region:
Type Outlook (Revenue, USD Billion; 2019-2030)
SCARA robots
Cartesian robots
Articulated robots
Cylindrical robots
Collaborative robots
Others
Application Outlook (Revenue, USD Billion; 2019-2030)
Material handling
Welding & soldering
Assembling & disassembling
Dispensing
Processing
Others
End-User Industry Outlook (Revenue, USD Billion; 2019-2030)
Electrical & electronics
Automotive
Plastics, rubber & chemicals
Food & beverages
Precision engineering & optics
Metals & machinery
Others
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