High accuracy, reliability, and affordability offered by industrial robots, rising demand for industrial robotics from small and medium industries, and intense competition are the key factors driving the growth of the global industrial robotics market. Industrial robotics consists of hardware component, software component, and control mechanism.
Industrial robots are widely used across different industrial sectors to perform complex and repetitive tasks with high accuracy and precision. With advancement in technology and decreasing cost, the small and medium industries are focusing on employing industrial robots to increase production and improve efficiency.
The emergence and adoption of combination robotics has significantly fueled the growth of industrial robots owing to reduced space requirement and high throughput in critical applications through human machine collaborative environment.
The COVID-19 pandemic is anticipated to cast significant impact on the global industrial robotic in coming years due to loss in productivity and changing demand patterns. The global industrial robotics market is anticipated to grow significantly during the forecast period.
Asia Pacific contributed the largest share to the global industrial robotics market in 2019 and is anticipated to be a dominating geography during the forecast period owing to expanding manufacturing industry, increased penetration of industrial robotics, and adoption across small & medium sized enterprises.
Shifting of manufacturing activities to major countries such as China, India, and South Korea and expanding semiconductor & electronics manufacturing industry in China, South Korea, Taiwan, and Singapore is expected to bolster the growth of Asia Pacific industrial robotics market in coming years.
Europe is anticipated to contribute a prominent share to the global market during the forecast period owing to the presence of leading robotics manufacturing companies and increasing investment in development of advanced robotic systems to improve productivity and efficiency.
The report titled “Industrial Robotics Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032” wherein 2021 is historic period, 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global industrial robotics market.
Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market. For instance, ABB reported revenues of USD 27,978 million in 2019 and the product segment analysis of the company indicates that Electrification business segment of the company dominated revenue in 2019.
The global industrial robotics market is segmented based on robot type, application, end use industry, and geography. Based on robot type, the global industrial robotics market is segmented into articulated, SCARA, cylindrical, Cartesian/linear, parallel, and others. Based on applications, the global industrial robotics market is segmented into pick & place, welding & soldering, material handling, assembling, cutting & processing, and others. Based on end use industry, the global industrial robotics market is segmented into automotive, metal & machinery, healthcare, food & beverages, chemicals, pharmaceuticals, aerospace & defense, transportation & logistics, semiconductor & electronics, and others. Based on geography, the global industrial robotics market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment, and would identify the segment of the company focusing on Industrial Robotics. Further, market share of prominent companies in the global Industrial Robotics market would also be estimated.
For instance, ABB operates through four business segments namely Electrification, Motion, Industrial Automation, and Robotics & Discrete Automation. The industrial robotics products are delivered under Robotics & Discrete Automation business segment of the company with revenue contribution of US$ 3,314 billion in 2019.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the Industrial Robotics companies. The global Industrial Robotics market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution.
Product portfolio would focus on all the products under the Industrial Robotics business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global Industrial Robotics market.
Major players active in the global industrial robotics market include ABB, DENSO Corporation, Seiko Epson Corporation, Fanuc Robotics, KUKA, Mitsubishi Electric Corporation, Omron Adept Technologies, Inc., Panasonic Corporation, Toshiba Machine Co., Ltd., and YRG, Inc.
Global Industrial Robotics Market Segmentation:
By Robot type
By End use industry
The Industrial Robotics analysis market has been assessed for the years 2023 to 2032.
Key Industrial Robotics market players are ABB, DENSO Corporation, Seiko Epson Corporation, Fanuc Robotics, KUKA, Mitsubishi Electric Corporation, Omron Adept Technologies, Inc., Panasonic Corporation, Toshiba Machine Co., Ltd., and YRG, Inc and others.
The global Industrial Robotics market size is estimated to reach USD 66.7 Billion by 2032.
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