The industrial robotics market report, brought to you by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—proffers comprehensive insights and meticulous analysis of the industrial robotics market. Embracing the scope and essence of the research, this report meticulously investigates the driving catalysts, market size, and predictive data for industrial robotics. It offers intricate revenue and shipment breakdowns, with a projection spanning a decade until 2033. Moreover, the document assesses significant industry players, their market shares, the competitive framework, and regional insights.
The global industrial robotics sector is poised to hit an impressive valuation of around US$ 220 billion by 2033, exhibiting a CAGR of 18.9% during the forecast period. This substantial surge in value marks a notable increase from its valuation of US$ 39 billion in 2023.
Remaining competitive within the manufacturing sector hinges significantly upon the integration of automation. Therefore, the industrial robotics sector is currently undergoing a notable surge. The universal turbulence in the global economic landscape and the disruptive supply chain waves have substantially influenced the demand for industrial robotics. Furthermore, the rapid utilization of contemporary technological advancements has further bolstered the adoption of industrial robotics.
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Numerous industries nowadays deal with two significant challenges: an ongoing shortage of skilled labor and the persistence of human errors. This has enormously propelled the adoption of industrial robots. Human-operated processes often need help matching the efficiency and precision of robotics. Therefore, industries increasingly embrace automation to streamline operations, uplift productivity, and minimize human errors.
In July 2023, the article “UN Turns to AI-Powered Robots to Monitor Climate Change” discusses how the United Nations is using robots with AI capabilities to keep a close watch on the impacts of climate change. When it comes to data collection, these intelligent robots are stepping it up. They are improving its accuracy, effectiveness, and safety, especially in difficult-to-reach places.
What Lies Ahead for the Future of Industrial Robotics?
Industry 4.0 has further spurred the emergence of novel technologies such as collaborative robots and AI-driven robotic systems. The emergence of AI-driven automation stands as a hallmark of this age. Given this advancement, industries can now employ robotics to streamline various processes. This move toward robotic integration has improved workplace security and boosted productivity. This has thereby prompted industries to make substantial investments in robotic systems.
Integrating industrial robots with the Internet of Things (IoT) starts a new age. This fusion enhances various aspects of robotics. This includes predictive maintenance, reduction of downtimes, and the optimization of overall robotic performance. Furthermore, introducing 5G technology is anticipated to stimulate the adoption of robotics within the manufacturing industry.
“Industrial robotics is at the forefront of manufacturing and automation. These advanced machines are revolutionizing industries worldwide, enhancing productivity, precision, and efficiency in tasks ranging from assembly lines to complex manufacturing processes, and shaping the future of industrial production.” – opines our Lead Analyst, Future Market Insights, Inc.
Key Takeaways From the Industrial Robotics Market Report:
- The application of industrial robotics is rising in various sectors like food, electronics, and metalwork, where they’re utilized for painting, welding, packaging, labeling, etc.
- Increasing vehicle demand, particularly in developing nations, fuels global passenger car sales and prompts manufacturers to adopt robotics for enhanced production.
- Articulated robots are becoming increasingly popular in pharmaceuticals, automotive, logistics, and more sectors.
A Closer Look at Country-wise Dynamics
Robot installations in the United States experienced a remarkable 14% surge, reaching 41,624 units in 2022. This accomplishment made that year stand out as a massive success in the industry. The future outlook is equally promising, with projected revenue of US$ 77.9 billion anticipated by 2033.
Since 2013, China has taken the lead as the world’s prime industrial robots market. The core objective of “Made in China 2025” was to expand the industrial robotics market in China. Hence, the market in China is projected to surpass US$ 15.8 billion in revenue by 2033.
Labor costs in the United Kingdom are on the rise. This is leading to a need for more available workers. This has prompted a shift toward industrial robotics, backed by government investment to counter the issue. The valuation of the United Kingdom industrial robotics market is projected to reach US$ 9.3 billion by 2033.
Which Segmentation is Taking the Lead?
SCARA robots are becoming popular in the market. This segment is predicted to experience a remarkable 17.2% CAGR between 2023 and 2033, a notable increase from the 12.1% CAGR recorded between 2018 and 2022.
The assembly/disassembly application segment is prominent in the industrial robotics market. Its widespread usage and adaptability across various industries is the reason behind this supremacy. This segment is expected to witness a CAGR of 16.9% through 2033.
A Glimpse into Recent Developments
In August 2023, Olis Robotics raised an extraordinary US$ 4.1 million in funding for its industrial robotics technology. The funding round was led by PSL Ventures, with additional support from Tectonic Ventures, Ubiquity Ventures, and confident notable angel investors.
In May 2023, FANUC CORPORATION America introduced an exciting development at Automate 2023. They unveiled two new collaborative robots designed to handle heavier loads. These new additions are designed to expand the CRX and CR cobot lines. These variations can handle all sorts of products, from as light as 4 kg to as heavy as 50 kilograms.
List encompassing key players operating in the industrial robotics market
- Yaskawa Electric Corporation
- FANUC Corporation
- Kawasaki Heavy Industries Ltd
- Kuka AG
- Mitsubishi Electric
- Teradyne Inc.
- ABB Ltd.
- Yamaha Motor Co., Ltd.
- Hirata, Corporation
- Denso Wave Incorporated
- Toshiba Machine Co. Ltd.
- OMRON Corporation
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Industrial Robotics Market Segmentation:
By Product Type:
- SCARA Robots
- Delta Robots
- Cartesian Robots/ Gantry Robots
- Articulated Robots
- Collaborative Robots
- Dual-arm Robots
- Clean Room
- Handling Operations
- Painting & Coating
- General Applications
By End Use:
- Automotive Industry
- Electrical/Electronics Industry
- Rubber & Plastics Industry
- Metal & Machinery
- Food & Beverages
- Plastic & Auxiliary Chemical Products
- Auxiliary Industries
- Bulk Commodities & Materials
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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