The industrial robotics market size is projected to reach US$ 48,166.9 million by 2025 from US$ 16,847.6 million in 2017; it is expected to witness healthy market growth of 14.2% CAGR during 2018–2025.
The expanding use of automation in the automobile production process and the use of digitization and artificial intelligence are the key reasons driving demand for industrial robots. The demand for automobiles is increasing, necessitating an increase in production. For instance, vehicle production climbed by 3.9% in May 2018, according to the Mexican Automotive Association (AMIA). Various governments in Latin America have taken significant steps to boost the use of electric vehicles, such as constructing convenient charging stations. These activities are projected to increase the adoption of automation by rising demand for electric vehicles. This is expected to accelerate the adoption of industrial robots in the automobile sector, leading to the industrial robotics market growth.
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The global industrial robotics market is segmented on the basis of types into articulated robots, cartesian robots, SCARA robots, collaborative robots, and others. The automotive sector was the largest user of industrial robotics; therefore, articulated robots captured a lion’s share of 42.3% in 2017. The global industrial robotics industry is further segmented by function into soldering & welding, material handling, assembling & disassembling, painting & dispensing, milling, cutting & processing, and others. The soldering & welding segment accounted for 35.1% share of the market, as they are generally used in automotive, electronics, and metal industries. Similarly, based on industry, the global industrial robotics market is segmented into automotive, medical & pharmaceuticals, electrical & electronics, chemical, rubber & plastics, metals and machinery, foods & agriculture, and others. Automotive OEM manufacturers heavily rely upon automation in their assembly line and automotive component manufacturers also depend upon robotics in their manufacturing processes. These reasons have led the automotive industry to hold 46.9% of the industrial robotics market share.
Furthermore, with the increasing integration of robotics for handling delicate semiconductors, hazardous chemicals in research & development centers, and other applications, the electrical & electronics, metals & machinery, rubber & plastic, and food & beverages segments in the market are expected to grow significantly in the future. Further, prospects of industrial robot adoption by SMEs in Asia Pacific's growing economies are fueling the growth of the market. The high return on investment of industrial robot deployment is attracting investors in the industrial robotics market.
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ABB Ltd; Kawasaki Heavy Industries, Ltd.; Yaskawa Electric Corporation; FANUC Corp; KUKA AG; Mitsubishi Electric Corporation; Denso Corp.; Nachi-Fujikoshi Corp.; Comau S.P.A.; and Universal Robots A/S are among a few key players operating in the market. In addition, several other important industrial robotics market players were studied and analyzed during the course of this study to get a holistic view of the global and regional market share and its ecosystem.
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Increasing inclination towards automation is projected to guide the growth trajectory of the market in the foreseeable future.
In the observation presented by Market Research Future MRFR, the global industrial robotics market is presumed to strike 14% CAGR across the forecast period 2016 to 2022.
Industrial sector is the backbone of an economy, which is why it is likely to attract investments over the next couple of years.The advent of Industry 4.0 is the primary driver of the industrial robotics market.
It has led to the availability of cost-effective automation solutions for different industry domains.
In addition, the end-user industries are investing in automation to gain edge over competitors as well as stay ahead of the curve.
The primary factor driving the global industrial robotics market growth is high demand of robotics products in industrial application especially in manufacturing sectors, growing adoption of robotics in small & medium size organizations and growing investment of by the automotive industry in technological advancement.Competitive DashboardABB Ltd. (Switzerland), Kuka AG (Germany), Denso Corporation (Japan), Kawasaki Heavy Industries Ltd. (Japan), Yaskawa Electric Corporation (Japan), Bosch GmbH (Germany), Fanuc Corporation (Japan), Rockwell Automation, Inc. (U.S.), Mitsubishi Electric Corporation (Japan), and Toshiba Corporation (Japan) are few of the key participants of the assessed to play developmental role in the industrial robotics market forecast.Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/1933 Market SegmentationOn the basis of type, the industrial robotics market has been segmented into Cartesian, articulated, delta, SCARA, 6-axis robots, dual-arm, parallel, redundant, and others.By application, the segmentation of the industrial robotics market covers material handling, assembling, welding, palletizing, painting, and others.On the basis of end-user, the industrial robotics market has been segmented into automotive, Rubber & plastic, entertainment, electronics, food & beverage, pharmaceuticals, and others.Regional AnalysisThe geographical analysis included in the global industrial robotics market reports has been covered for the following regions - North America, Europe, Asia-Pacific (APAC), and the Rest of the World (RoW).
