The industrial robotics market is garnering substantial traction, mainly due to the rapid industrialization across the globe. Besides, the market growth mainly attributes to the rising demand for automated, programmable machines to reduce the tiring efforts of producing & manufacturing consumer goods. Moreover, rising uptake of articulated, SCARA, and Cartesian robots across the rapidly growing industries escalate market growth. According to Market Research Future (MRFR), the global Industrial Robotics Market valuation is projected to reach USD 81 BN by 2022, growing at approximately14% CAGR throughout the review period (2016 – 2022). The COVID 19 pandemic has accelerated the digital transformation, promoting social distancing. The epidemic has also fostered automation in distinct technology areas, increasing uses of technologies such as 5G, cloud/edge, and artificial intelligence.
Additionally, the high demand for robotics, especially in manufacturing sectors, and growing investments in the automotive industry, boost the growth of the market. Also, growing technological advances and adoption of robotics in small & medium size organizations accelerate market growth. Furthermore, the advantages of articulated robots, such as the reduced overall production cost, substantiate the size of the market.
Conversely, high initial costs and complexities involved in the development and installation of industrial robots are major factors anticipated to impede market growth. Nevertheless, the industrial revolution 4.0 would support market growth throughout the review period, creating a substantial demand for automation across industries such as automotive, aerospace, pharmaceuticals, and electronics.
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Industrial Robotics Market - Competitive Landscape
Highly competitive, the industrial robotics market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, players incorporate strategic initiatives such as collaborations, mergers & acquisitions, expansion, and product/ technology launch. They make substantial investments in new product developments and geographical expansion. Industrial robotics market trends include relentless innovations and new products, resulting in intense competition among manufacturers.
Players leading the global industrial robotics market are Denso Corporation (Japan), ABB Ltd. (Switzerland), Kuka AG (Germany), Bosch GmbH (Germany), Kawasaki Heavy Industries Ltd. (Japan), Yaskawa Electric Corporation (Japan), Mitsubishi Electric Corporation (Japan), Fanuc Corporation (Japan), Toshiba Corporation (Japan), and Rockwell Automation, Inc. (US), among others.
Global Industrial Robotics Market - Segments
The report is segmented into four dynamics;
By Types: Cartesian, Articulated, SCARA, Delta, Redundant, 6-Axis Robots, Dual-Arm & Parallel Robotics, and others.
By Application: Welding, Material Handling, Assembling, Painting, Palletizing, and others.
By End-Users : Electronics, Automotive, Rubber & Plastic, Food & Beverage, Entertainment, Pharmaceuticals, and others.
By Regions: Asia Pacific, Americas, Europe, and Rest-of-the-World.
Global Industrial Robotics Market - Regional Analysis
The Asia Pacific region dominates the global industrial robotics market. The market growth attributes to the strong presence of several notable players and well-established development centers, allowing advances in robotics and the early uptake. Besides, the growing industrialization and production drive the growth of the market. Moreover, rapid economic growth and increased R&D activities increase the size of the market.
Japan is the leading market of industrial robotics, followed by China and India, respectively. With its vast investments in the development of articulated robotics and the manufacturing processes, India demonstrates the maximum potential to grow during the assessment period. Furthermore, the rising demand for new autonomous technology from the burgeoning automotive and aircraft sectors fosters the growth of the regional market.
Europe, with more than 50% of industries, stands second in the global industrial robotics market. Maximum industries in the region have implemented robotics technology to operate their activities. The market growth is driven by the strong presence of auto manufacturers and the need for automated vehicle manufacturing processes. Additionally, increasing R&D activities to develop robotics, act as major tailwinds for the market growth in the region. Germany, heading with both flourishing industries and the availability of futuristic technologies, lead the regional market.
North America also shows substantial growth in the industrial robotics market. Factors such as the increasing development in automation and the high adoption of automation in production units substantiate market growth. Furthermore, the growing demand for industrial robotics from burgeoning industries in the region propels the growth of the market. Moreover, the increasing focus on enhancing communication capabilities, especially for the defense sector in the region, pushes the industrial robotics market size.
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Industry/ Innovation/ Related News
October 02, 2020 ----- ABB (Switzerland), a multinational corporation automation company, announced the acquisition of Codian Robotics B.V. (Netherlands), a leading provider of delta robots, to enhance its portfolio of high-speed industrial robots. Codian Robotics offers delta robots primarily for high-precision pick and place applications, including a hygienic design line, ideal for hygiene-sensitive industries like food & beverage and pharmaceuticals.
With the transaction, ABB is accelerating its engagement in the growing field of delta robots. The acquisition signed and closed on October 1, 2020, underscores ABB’s focus on breakthrough technology, helping customers with automation and increases their flexibility in a rapidly changing business landscape. Codian’s Robotics and industry expertise are the perfect addition to ABB’s suite of F&B, pharmaceutical, service robotics, and logistics solutions, supporting its machine-centric robotics offering.