The Global Market for Industrial Robotics is Projected to Reach 938 Thousand Units by 2024

Focus on Enhancing Production Efficiencies & Improving Product Quality to Drive the Global Industrial Robotics Market, According to a New Report by Global Industry Analysts, Inc. 

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Industrial Robotics market. The global market for Industrial Robotics is projected to reach 938 thousand units by 2024, driven by the rise in automotive production, the upbeat semiconductor & electronics industry and opportunities in plastics, food & beverage, medical device manufacturing and pharmaceutical packaging industries.

Industrial robotics, comprising both traditional and collaborative robots (cobots), feature robots designed for use in assembly or manufacturing applications within machining industries including automotive and electronics among various others. Robotic systems are playing key role in industry transformation resulting in bringing about considerable improvement in efficiency and operational agility in both developed as well as developing markets. Innovators are developing robots capable of performing wider range of functions thus facilitating the adoption of robotic systems into a broader base of industries. Spurred by a mix of technology improvements, new use cases, and increased market acceptance, the worldwide market for robotic systems continues to experience significant growth. Electronics and automotive industries are the largest users of industrial robots. Robotic applications in the auto industry have been extended from spot welding to robot networking, while material handling generates substantial opportunities in this segment. Metal and machinery also account for a significant share of the industrial robots consumed. Also poised to drive future growth is increasing market penetration in non-conventional industries such as cosmetics, food and beverage, rubber and plastics industry. Robots are making inroads into labs, warehouses, research and exploration sites, energy plants, hospitals and outer space. Popularity of electronic products is driving an above average increase in demand for robotic systems within the electronics industry.

Convergence of robotics with cognitive science, artificial intelligence (AI), and information technology is now helping bring closer to reality multi-dimensional intelligent robots. With AI and sensors, industrial robots are expected to find wider applications. Today, imaginatively designed and collaborative robots can be trained easily, which has transformed and enhanced the application areas of industrial robots. AI offered by machine vision is expected to further strengthen the popularity and usage of robots in the coming years. Machine vision is critical in the semiconductor industry where identifying defects in miniaturized, sub-micron scale electronic components is critical in wafer level inspection for quality control. Other technology developments expected to benefit market growth include 3D Vision technology, distributed motion control and human-robot interaction technologies. A robot with 3D vision capability is taught to recognize an object and its correct placement in any given space. For the industrial sector, this is a revolutionary step, as in addition to saving the end user’s money, this also aids in saving time.

As stated by the new market research report on Industrial Robotics, Asia Pacific represents the largest market worldwide driven by robust manufacturing activity and falling prices of robots. In particular, China is historically the largest consumer of industrial robotics. South Korean, Japanese, US and German markets are the other leading global consumers of industrial robots. Latin America constitutes the fastest growing regional market with a CAGR of 22.4% over the analysis period.

Key players in the market include ABB Ltd., Denso Wave Inc., Dürr AG, FANUC Corp., FANUC America Corp., iRobot Corp., Kawasaki Robotics (USA) Inc., KUKA AG, Nachi-Fujikoshi Corp., Nachi Robotic Systems Inc., Omron Adept Technologies Inc., Panasonic Corp., ST Robotics, Stäubli International AG, YASKAWA Electric Corp., and Yaskawa America Inc., among others. 

The research report titled “Industrial Robotics: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the market, industry overview, trends, growth drivers, issues, and recent industry activity of major companies worldwide. The report provides market estimates and projections in units for major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (Australia, China, India South Korea, Taiwan and Rest of Asia-Pacific) Latin America (Brazil, Mexico and Rest of Latin America) and Rest of World. Key end-use applications analyzed include Assembly, Material Application, Material Handling, (Packaging/Picking, Plastic Molding, Molding, Others), Cutting/Polishing, Welding and Others.

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