Industrial Robotics Market is estimated to be US$ 118.39 billion by 2030 with a CAGR of 12.3% during the forecast period
Industrial Robots offers extensive benefits, which include rate of operation, cost reduction, improved quality, size reduction, and improved efficiency and flexibility. Further, increasing awareness regarding industrial robots is also expected to foster the market. Advancements in Industrial robots such s human features such as intelligence, memory, object recognition, and learning ability is also expected to favor the growth of Industrial Robotics Market.
Moreover, in recent year industrial robots are been utilized in the healthcare, agriculture, manufacturing, food preparation, and military sectors.
Region Analysis:
Asia Pacific is expected to dominate the Industrial Robotics Market, due to increasing industrialization in China, Japan and India. Further, there has so been significant demand in wages, which is driving the manufacturers to automate the manufacturing processes to maintain cost efficiency. Further, the key players are also mostly located in Japan, supporting the growth of Industrial Robotics Market in Asia Pacific region.
Key Development:
· In February 2020 – FANUC and BMW AG signed a framework agreement wherein FANUC will supply 3,500 robots for new production lines and plants.
· In March 2020 – FANUC introduced the newest collaborative robot, the CRX 10-iA. The new robot can perform highly functional tasks under a flip motion to perform repetitive tasks.
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Segmentation:
The global Industrial Robotics Market accounted for US$ 37.3 billion in 2020 and is estimated to be US$ 118.39 billion by 2030 and is anticipated to register a CAGR of 12.3%. The global Industrial Robotics Market is segmented based on type, function, application, and region.
· On the basis of type the target market is categorized into Articulated Robots, Parallel Robots, SCARA Robots, Cylindrical Robots, and Cartesian Robots.
· On the basis of function, the Global Industrial Robotics Market is segmented into Soldering & Welding, Materials Handling, Assembling & Disassembling, Painting & Dispensing, Milling, Cutting and Processing.
· On the basis of application, the Global Industrial Robotics Market is segmented into Electrical & Electronics, Chemical, Rubber & Plastic, Metal & Machinery, Food & Beverages, and Pharmaceuticals.
· On the basis of region, the global Industrial Robotics Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Analysis:
The key players operating in the global Industrial Robotics Market includes ABB Ltd. KUKA AG Pvt. Ltd., Mitsubishi Electric Corp., FANUC Corporation, Kawasaki Heavy Industries Ltd., Yaskawa Electric Corporation, Seiko Epson Corporation, Stäubli International AG Corporation, NACHI-FUJIKOSHI Corp. DENSO CORPORATION (Japan), Comau SpA Ltd., DAIHEN Corporation, Omron Adept Technologies, Inc., Universal Robots A/S Corporation, and CMA ROBOTICS SPA Pvt. Ltd
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