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Growing penetration of Industrial Internet of Things (IIoT) and Artificial Intelligence (AI) in industrial manufacturing

VANCOUVER, B.C., CANADA, January 24, 2023 /EINPresswire.com/ -- According to the most recent analysis by Emergen Research, the size of the worldwide industrial robotics market reached USD 42.35 billion in 2021 and is projected to grow at a revenue CAGR of 12.3% over the forecast period. One of the key drivers propelling the market's revenue growth is the quick uptake of automation, IIoT, and AI in industrial manufacturing, along with vision and other sensor systems that make it possible for robots to complete challenging tasks with ease. Furthermore, due to the high premium placed on on-time delivery as well as efficient and economical manufacturing processes, the demand for industrial robots is growing rapidly in warehouses and distribution centres along the logistics and supply chain.

One of the main drivers propelling market expansion is the increasing demand for industrial robots from manufacturers for the automation of activities, enhanced worker safety, and increased overall production output with reduced waste and expensive operational expenses. For instance, collaborative robots, or Cobots, can be used to apply glue and other adhesives when equipped with dispensing tools, and when equipped with a sanding kit, they can be used to polish objects for a bright and smooth finish. Around 486,800 industrial robot units were shipped globally in 2022, up 27% from the previous year, according to the International Federation of Robotics (IFR).

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Key Points Covered in This Section:

Regional contribution

Estimated revenue generation

Vital data and information about the consumption rate in all the leading regional segments

An expected rise in market share

Forecast growth in the overall consumption rate

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 Companies Profiled in the Report:

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. Moreover, provision of mixed-model assembly and customized products, as well as better downstream demand coordination is another factor driving growth of this segment.

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.

Segmental Analysis

The global Industrial Robotics market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Industrial Robotics sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.

Segments Covered in this report are:

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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The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market. 

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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