IMARC Group, a leading market research company, has recently releases report titled “Industrial Robotics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global industrial robotics market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Industrial Robotics Market?
The global industrial robotics market size reached US$ 15.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 34.4 Billion by 2028, exhibiting a growth rate (CAGR) of 13.98% during 2023-2028.
Industrial robotics comprises automated machines programmed to execute activities associated with industry production automatically. It assists in enhancing productivity and generating high-quality goods in automation applications while lowering costs. It is utilized for picking and placing objects, welding and soldering, assembling, material handling, and cutting and processing of goods. As a result, it is widely employed in automotive, food and beverages (F&B), healthcare, pharmaceutical, rubber and plastic, metals and machinery, and electrical and electronics industries across the globe.
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What are the growth prospects and trends in the industrial robotics industry?
Presently, the rising demand for industrial robots in the logistics sector to provide on-time delivery, reduce manual labor work and cost, and improve efficiency and production represents one of the key factors strengthening the market growth.
Moreover, the growing need for industrial robotics in the healthcare sector for cleaning and disinfection tasks, storage and distribution of medicines, and surgical assistance is offering a positive market outlook. In addition, the increasing demand for cost-effective and automated solutions for an effective workflow is bolstering the growth of the market.
Apart from this, the rising adoption of industrial robots in small and medium-sized enterprises (SMEs) around the world is offering lucrative growth opportunities to industry players. Furthermore, key players are introducing a series of selective compliance assembly robot arm (SCARA) robots that provide weighty payloads, high output, and smooth motion control, which is supporting the growth of the market.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Articulated Robots
- Cartesian Robots
- SCARA Robots
- Cylindrical Robots
- Parallel Robots
Breakup by Function:
- Soldering and Welding
- Materials Handling
- Assembling and Disassembling
- Painting and Dispensing
- Milling, Cutting and Processing
Breakup by End Use Industry:
- Electrical and Electronics
- Chemical, Rubber and Plastics
- Machinery and Metals
- Food and Beverages
- Precision and Optics
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
ABB Ltd., DAIHEN Corporation, DENSO Corporation, FANUC, Kawasaki Heavy Industries Ltd., KUKA AG, Mitsubishi Electric Corporation, Nachi-Fujikoshi Corp., OMRON Corporation, Panasonic Corporation, Seiko Epson Corporation, Universal Robots A/S (Teradyne Inc.), Yamaha Motor Co. Ltd. and Yaskawa Electric Corporation
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