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Forecasted Growth Sets Industrial Robotics Market at $32.7 Billion by 2029
Industrial Robotics Market: A Dynamic Landscape of Growth and Innovation
Introduction: Industrial Robotics Market Overview
The Industrial Robotics Market is experiencing significant growth, with projections suggesting that it will reach a value of $37.1 billion by 2031. This growth is driven by the increasing demand for automation in manufacturing, government support, and the rise of robotics in various sectors. According to a report by Meticulous Research® titled "Industrial Robotics Market—Global Opportunity Analysis and Industry Forecast (2024-2031)", the market is expected to grow at a compound annual growth rate (CAGR) of 6.8% from 2024 to 2031. This report highlights the various opportunities and challenges shaping the market, ranging from technological advancements to high initial investments.
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Government Support and Automation Drive
One of the key factors propelling the industrial robotics market is the increasing government support for automation. Governments around the world are pushing for the adoption of robotics to boost productivity, improve safety, and reduce labor costs. In regions like North America, Europe, and Asia-Pacific, various incentives and grants are being offered to industries adopting robotics in manufacturing processes. These efforts are aligning with broader trends of digital transformation, where automation is seen as a way to stay competitive in the global market. While the upfront cost of adopting industrial robots remains high, governments are assisting companies through subsidies and tax relief programs, encouraging widespread adoption.
The Growing Manufacturing Sector and Need for Automation
The manufacturing industry is at the heart of the industrial robotics boom. With industries like automotive, electronics, and consumer goods demanding higher production speeds, greater precision, and consistent quality, robots are becoming indispensable. Robots can perform repetitive tasks like assembly, welding, and material handling with minimal human intervention. This shift towards robotic automation is also motivated by the need to address labor shortages and the desire for safer working environments. Manufacturers are increasingly investing in robotics to streamline operations and maintain competitive advantages in terms of product quality, speed, and cost-efficiency.
Challenges in the Industrial Robotics Market
Despite the promising outlook for the industrial robotics market, challenges remain. One of the biggest obstacles is the high initial investment required to deploy robotic systems. Small and medium-sized enterprises (SMEs) often find it difficult to afford these advanced solutions, limiting their access to automation benefits. Additionally, robots can experience performance issues, such as system malfunctions or difficulties integrating with existing manufacturing processes. Overcoming these hurdles requires companies to invest not only in the hardware but also in training workers to manage, maintain, and troubleshoot robotic systems.
Exploring Opportunities in Automotive and Electronics Industries
Among the various sectors driving demand for industrial robots, the automotive and electronics industries stand out. The automotive sector has been an early adopter of robotics, with robots performing a variety of functions, such as painting, welding, and assembly. As vehicle manufacturers face increasing demand for electric vehicles (EVs) and the need to improve production efficiency, the role of robots in automotive manufacturing will grow even further. Similarly, in the electronics industry, robots are used for precision assembly and testing of small parts, where accuracy and speed are paramount.
The increasing demand for EVs and advanced electronic devices is likely to accelerate the adoption of industrial robotics. Manufacturers in both sectors rely heavily on automation to meet these growing demands while also adhering to strict safety and quality standards. Robotics enable manufacturers to maintain high throughput while ensuring minimal defects, particularly in industries where precision is critical.
The Rise of Collaborative Robots (Cobots)
Collaborative robots (cobots) are emerging as an important trend in the industrial robotics market. Cobots are designed to work alongside human operators in a shared workspace, performing tasks such as material handling, assembly, and testing. These robots are particularly advantageous for small and medium-sized enterprises that cannot afford to deploy fully automated robotic systems. Cobots offer a safer alternative to traditional robots, as they are designed with built-in sensors and safety mechanisms to prevent accidents when interacting with humans.
Cobots are versatile and can be deployed in a range of industries, from automotive to food processing. Their ability to assist human workers in completing complex tasks while minimizing the risk of injury has made them highly attractive to businesses looking to increase productivity without sacrificing safety. The growth of cobots is expected to continue as companies look for ways to automate tasks without completely replacing human labor.
Integration of IoT and Robotics
Another transformative trend in the industrial robotics market is the integration of Internet of Things (IoT) technology. The adoption of IoT devices allows manufacturers to remotely monitor and control robotic systems, leading to greater efficiency and fewer downtimes. IoT-enabled robots can send real-time data on their performance, including diagnostic information, which can be used to optimize processes and predict maintenance needs.
The use of IoT in conjunction with robotics creates a smarter, more connected production environment. This trend is expected to expand as industries increasingly rely on data-driven insights to improve operational efficiency. IoT-enabled robots will be able to adapt to changing conditions in the manufacturing environment, such as fluctuations in production volume or the introduction of new products, making them highly flexible and efficient in dynamic settings.
Component and Payload Segmentation in Industrial Robotics
The industrial robotics market can be segmented based on components, payloads, applications, and end-use industries. When it comes to components, robots themselves are expected to dominate the market in 2024, as they remain the core of industrial automation. The demand for robots is growing due to their ability to perform complex, repetitive, and hazardous tasks with precision and speed. Robots are increasingly used for assembly, packaging, and quality control tasks in industries ranging from automotive to electronics.
In terms of payloads, the up to 60 kg category is projected to lead the market. Robots with this payload capacity are used in a variety of applications, including assembly, material handling, and packaging. They are especially useful in industries like automotive manufacturing, where high payload capacity is necessary for handling heavy parts or components. These robots are also becoming increasingly popular in the logistics and food processing industries, further solidifying their position as a dominant segment in the market.
Material Handling and Automotive Applications
The material handling application is expected to lead the industrial robotics market in 2024. Material handling robots are used to automate the transport of materials, reducing the need for human labor in tasks such as lifting, stacking, and moving goods. These robots improve efficiency and reduce the risk of injury in warehouses, factories, and distribution centers. The growing demand for automation in warehouses and logistics centers is one of the key drivers of growth in this segment.
In the automotive industry, robots are used extensively in assembly lines to weld, install components, and conduct inspections. Industrial robots enhance efficiency in car manufacturing by performing high-speed, repetitive tasks that would otherwise be labor-intensive. As automakers shift towards electric vehicle production and strive for higher production volumes, the automotive sector will remain a key end-user of industrial robotics.
Asia-Pacific Region: A Global Leader in Robotics Adoption
The Asia-Pacific region is set to dominate the global industrial robotics market in 2024, driven by the widespread adoption of robotics in countries like China, Japan, South Korea, and India. Asia-Pacific is home to some of the world’s largest manufacturing hubs, particularly in the automotive, electronics, and consumer goods sectors. Rising labor costs and the need for greater efficiency are pushing manufacturers in the region to adopt industrial robots to maintain their competitive edge.
Countries like China have made substantial investments in industrial robotics as part of their broader "Made in China 2025" initiative, which aims to upgrade the country’s manufacturing capabilities through automation. The rapid pace of industrialization in India, coupled with rising demand for consumer goods, has also contributed to the growing adoption of robotics in the region. The favorable regulatory environment and government incentives are likely to further bolster the growth of industrial robotics in Asia-Pacific.
Conclusion: The Future of Industrial Robotics
The industrial robotics market is on a strong growth trajectory, fueled by technological advancements, government support, and the increasing need for automation across industries. Despite challenges like high upfront costs and performance issues, the market is expected to thrive as businesses continue to adopt robots to enhance productivity, improve safety, and reduce costs. The growth of collaborative robots, IoT integration, and the demand from key sectors like automotive and electronics will propel the market forward. As technology continues to evolve, the future of industrial robotics looks incredibly promising, offering vast opportunities for businesses and investors in this dynamic industry.
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Key Players:
The industrial robotics market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the industrial robotics market are ABB Ltd (Switzerland), Fanuc Corporation (Japan), YASKAWA Electric Corporation (Japan), KUKA AG (Germany), Mitsubishi Electric Corporation (Japan), Kawasaki Heavy Industries, Ltd. (Japan), Universal Robots A/S (A Part of Teradyne Inc,) (Denmark), Stäubli International AG (Switzerland), Techman Robot Inc (Taiwan), Denso Corporation (Japan), OMRON Corporation (Japan), HD Hyundai Co Ltd (South Korea), Bosch Rexroth AG (A Part of Robert Bosch GmbH) (Germany), Seiko Epson Corporation (Japan), Dürr Aktiengesellschaft (Germany), Comau S.p.A. (Italy), F&P Robotics AG (Switzerland), and Franka Robotics GmbH (Germany).
Key Questions Answered in the Report-
What is the value of revenue generated by the sale component, payload, application, and end-use industry?
At what rate is the global demand for industrial robotics projected to grow for the next five to seven years?
What is the historical market size and growth rate for the industrial robotics market?
What are the major factors impacting the growth of this market at global and regional levels?
What are the major opportunities for existing players and new entrants in the market?
Which offering segments create major traction in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the h industrial robotics market?
Who are the major players in the industrial robotics market? What are their specific product offerings in this market?
What recent developments have taken place in the industrial robotics market? What impact have these strategic developments created on the market?
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Industrial Robotics Market to Reach $32.7 Billion by 2029
Meticulous Research®, a renowned global market research firm, has released a comprehensive report entitled "Industrial Robotics Market by Component (Robots, Robot Accessories), Payload (Up to 60 kg, 60–100 kg, 100–225 kg, and Above 225 kg), Application, End-use Industry, and Geography - Global Forecast to 2029."
The global industrial robotics market is projected to expand significantly, reaching a value of $32.7 billion by 2029 with a compound annual growth rate (CAGR) of 6.2% from 2022 to 2029. In terms of volume, this market is expected to grow at an even faster pace, with a projected CAGR of 11.2% from 2022 to 2029, eventually reaching 950.1 thousand units by 2029. Several factors contribute to this impressive growth, including the increasing adoption of robotic automation in manufacturing, favorable government policies supporting the use of industrial robots, high labor costs in North America and Europe, and the rising number of small and medium-sized enterprises (SMEs) worldwide. Moreover, increased automation in the automotive and electronics sectors and the drive to reduce human labor in industries present significant opportunities for companies involved in the industrial robotics market.
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However, the market faces challenges, particularly in the need for highly skilled operators and safety concerns surrounding the use of industrial robots.
The report delves into various segments of the global industrial robotics market, analyzing key players, industry competitors, and providing regional and country-specific insights.
Segmented by components, the market is classified into robots, robot accessories, software, and controllers. In 2022, robots are expected to dominate the market, accounting for the largest share. The growing demand for robots stems from their ability to perform repetitive, hazardous tasks with precision, accuracy, and reliability. Robots can operate continuously, even in harsh environments, leading to enhanced productivity, reduced labor costs, and increased workplace safety.
In terms of payload, the market is divided into categories of up to 60 kg, 60–100 kg, 100–225 kg, and above 225 kg. The up to 60 kg segment is expected to experience the fastest growth during the forecast period, driven by the increased use of SCARA, articulated, and collaborative robots in the electrical and electronics industries. SCARA robots are ideal for tasks requiring high speed and precision, particularly in environments with limited floor space or specific cleanroom requirements. Their adaptability makes them suitable for various industrial applications, including those in the food and beverage sector.
The market is also segmented by application, including material handling, assembly & disassembly, welding & soldering, dispensing, processing, machine tending, inspection, and others. The material handling segment is expected to hold the largest share of the market in 2022, as material handling robots are increasingly used to automate monotonous, dangerous tasks in production lines, improving overall efficiency and customer satisfaction.
By end-use industry, the market is segmented into automotive, electrical & electronics, metal & machinery, plastics & chemicals, food & beverage, healthcare & pharmaceuticals, and other industries. The automotive sector is anticipated to lead the market in 2022, driven by the benefits of industrial robots in terms of cost efficiency, speed, precision, and worker safety. Robotics has become a key enabler for automotive manufacturers to accelerate production, enhance quality, and reduce operational costs.
Geographic Overview:
The global industrial robotics market is geographically segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, Asia-Pacific is expected to command the largest share of the market, with rising labor costs in the region prompting manufacturers to adopt automation to retain their competitive edge.
Key Players:
The key players profiled in the global industrial robotics market study include ABB Ltd (Sweden), Fanuc Corporation (Japan), Yaskawa Electric Corporation (Japan), KUKA AG (Germany), Mitsubishi Electric Corporation (Japan), Kawasaki Heavy Industries, Ltd. (Japan), Denso Corporation (Japan), Seiko Epson Corporation (Japan), Dürr Group (Germany), Universal Robots A/S (Denmark), Stäubli International AG (Switzerland), Comau S.p.A. (Italy), Hyundai Robotics (South Korea), SIASUN Robot & Automation CO., Ltd (China), OMRON Corporation (Japan), Techman Robot Inc. (Taiwan), FRANKA EMIKA GmbH (Germany), and F&P Robotics AG (Switzerland).
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Key Questions Answered in the Report:
Which are the high-growth market segments in terms of component, payload, application, end-use industry, and geography?
What is the historical market size for industrial robots across the globe?
What are the market forecasts and estimates for the period 2022–2029?
What are the major drivers, restraints, opportunities, and challenges in the global industrial robots market?
Who are the major players in the market, and what are their market shares?
How is the competitive landscape for the global industrial robots market?
What are the recent developments in the global industrial robots market?
What are the different strategies adopted by the major players in the market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the global industrial robots market, and how do they compete with other players?
Contact Us:
Meticulous Research® Email- [email protected] Contact Sales- +1-646-781-8004 Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Industrial Robotics Market to Hit $32.7 Billion by 2029
Increasing Adoption of Industrial Robots
The Industrial Robotics Market is expected to reach $32.7 billion by 2029, at a CAGR of 6.2% from 2022 to 2029.
The last decade has witnessed a remarkable surge in the adoption of industrial robots, driven by their numerous advantages, including heightened productivity, consistent speed and quality, enhanced workplace safety, and optimized floor space usage. According to the International Federation of Robotics (IFR) in their World Robotics 2021 Industrial Robots report, a record 3 million industrial robots were operational in factories globally, marking a 10% increase from 2020. Despite the challenges posed by the global pandemic, the sale of new robots grew modestly by 0.5%, with 384,000 units shipped worldwide in 2020.
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Rebound in Robot Installations
The IFR projects a strong rebound in global robot installations, estimating a growth of 27% in 2022, surpassing the record levels of 2021. In 2022, a new high of 486,800 units was installed globally, reflecting a 27% increase compared to the previous year. The Asia/Australia region experienced the most significant growth, with installations rising by 33% to reach 354,500 units. Meanwhile, the Americas saw a 27% increase, with 49,400 units sold, and Europe experienced double-digit growth of 15%, resulting in 78,000 units installed.
Robotics: A Global Perspective
Robotics and control systems form the backbone of automation, with the International Monetary Fund (IMF) reporting that 1 million robots were utilized in Asia in 2018, establishing it as the global leader in robotics. Countries like Singapore, South Korea, Japan, Germany, Sweden, Denmark, Hong Kong, the U.S., Belgium, and Luxembourg are at the forefront of robotics and automation. According to the IFR, Singapore boasted the highest robot density in 2019, with 918 units per 10,000 employees in the electronics sector. South Korea and Japan followed closely, with densities of 868 and 365 units per 10,000 employees, respectively.
Versatility and Efficiency of Industrial Robots
Japan dominates the global robot manufacturing landscape, producing 45% of the world's supply. Various industries, including healthcare, agriculture, food and beverage, manufacturing, and processing, utilize robots for essential and time-consuming tasks. In healthcare, the adoption of advanced surgical robotics is on the rise, offering benefits such as shorter hospital stays and reduced pain post-surgery. The automotive sector relies on industrial robots for various assembly line tasks, including welding, painting, assembly, pick-and-place operations, packaging, and product inspection.
Industrial robots excel at performing precise tasks around the clock, minimizing human errors and fatigue through advanced learning models. Their ability to perform multiple tasks consistently and efficiently makes them increasingly sought after in both process and discrete industries. Moreover, industrial robots require less floor space compared to human workers, allowing businesses to repurpose that space for additional production processes.
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Conclusion
As technology continues to advance, robots are becoming more energy-efficient and easier to implement across diverse industries. Mobile robots equipped with sophisticated navigation systems are facilitating interaction with other robots and systems. Additionally, robots are expanding into new markets, including textiles, wood products, and plastics. Consequently, the growing adoption of robots within the manufacturing sector is significantly propelling the growth of the industrial robotics market.
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Industrial Robotics Market Worth $32.7 Billion by 2029
Meticulous Research®, a renowned global market research firm, has released a comprehensive report entitled "Industrial Robotics Market by Component (Robots, Robot Accessories), Payload (Up to 60 kg, 60–100 kg, 100–225 kg, and Above 225 kg), Application, End-use Industry, and Geography - Global Forecast to 2029."
The global industrial robotics market is projected to expand significantly, reaching a value of $32.7 billion by 2029 with a compound annual growth rate (CAGR) of 6.2% from 2022 to 2029. In terms of volume, this market is expected to grow at an even faster pace, with a projected CAGR of 11.2% from 2022 to 2029, eventually reaching 950.1 thousand units by 2029. Several factors contribute to this impressive growth, including the increasing adoption of robotic automation in manufacturing, favorable government policies supporting the use of industrial robots, high labor costs in North America and Europe, and the rising number of small and medium-sized enterprises (SMEs) worldwide. Moreover, increased automation in the automotive and electronics sectors and the drive to reduce human labor in industries present significant opportunities for companies involved in the industrial robotics market.
Download Sample Report Here: https://www.meticulousresearch.com/download-sample-report/cp_id=5278
However, the market faces challenges, particularly in the need for highly skilled operators and safety concerns surrounding the use of industrial robots.
The report delves into various segments of the global industrial robotics market, analyzing key players, industry competitors, and providing regional and country-specific insights.
Segmented by components, the market is classified into robots, robot accessories, software, and controllers. In 2022, robots are expected to dominate the market, accounting for the largest share. The growing demand for robots stems from their ability to perform repetitive, hazardous tasks with precision, accuracy, and reliability. Robots can operate continuously, even in harsh environments, leading to enhanced productivity, reduced labor costs, and increased workplace safety.
In terms of payload, the market is divided into categories of up to 60 kg, 60–100 kg, 100–225 kg, and above 225 kg. The up to 60 kg segment is expected to experience the fastest growth during the forecast period, driven by the increased use of SCARA, articulated, and collaborative robots in the electrical and electronics industries. SCARA robots are ideal for tasks requiring high speed and precision, particularly in environments with limited floor space or specific cleanroom requirements. Their adaptability makes them suitable for various industrial applications, including those in the food and beverage sector.
The market is also segmented by application, including material handling, assembly & disassembly, welding & soldering, dispensing, processing, machine tending, inspection, and others. The material handling segment is expected to hold the largest share of the market in 2022, as material handling robots are increasingly used to automate monotonous, dangerous tasks in production lines, improving overall efficiency and customer satisfaction.
By end-use industry, the market is segmented into automotive, electrical & electronics, metal & machinery, plastics & chemicals, food & beverage, healthcare & pharmaceuticals, and other industries. The automotive sector is anticipated to lead the market in 2022, driven by the benefits of industrial robots in terms of cost efficiency, speed, precision, and worker safety. Robotics has become a key enabler for automotive manufacturers to accelerate production, enhance quality, and reduce operational costs.
Geographic Overview:
The global industrial robotics market is geographically segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, Asia-Pacific is expected to command the largest share of the market, with rising labor costs in the region prompting manufacturers to adopt automation to retain their competitive edge.
Key Players:
The key players profiled in the global industrial robotics market study include ABB Ltd (Sweden), Fanuc Corporation (Japan), Yaskawa Electric Corporation (Japan), KUKA AG (Germany), Mitsubishi Electric Corporation (Japan), Kawasaki Heavy Industries, Ltd. (Japan), Denso Corporation (Japan), Seiko Epson Corporation (Japan), Dürr Group (Germany), Universal Robots A/S (Denmark), Stäubli International AG (Switzerland), Comau S.p.A. (Italy), Hyundai Robotics (South Korea), SIASUN Robot & Automation CO., Ltd (China), OMRON Corporation (Japan), Techman Robot Inc. (Taiwan), FRANKA EMIKA GmbH (Germany), and F&P Robotics AG (Switzerland).
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Key Questions Answered in the Report:
Which are the high-growth market segments in terms of component, payload, application, end-use industry, and geography?
What is the historical market size for industrial robots across the globe?
What are the market forecasts and estimates for the period 2022–2029?
What are the major drivers, restraints, opportunities, and challenges in the global industrial robots market?
Who are the major players in the market, and what are their market shares?
How is the competitive landscape for the global industrial robots market?
What are the recent developments in the global industrial robots market?
What are the different strategies adopted by the major players in the market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the global industrial robots market, and how do they compete with other players?
Contact Us:
Meticulous Research® Email- [email protected] Contact Sales- +1-646-781-8004 Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
The industrial robotics market is projected to reach $32.7 billion by 2029, at a CAGR of 6.2% from 2022 to 2029. By volume, this market is e
According to this latest publication from Meticulous Research®, the Industrial Robotics Market is expected to reach $32.7 billion by 2029, a
Palletizing Robots & Depalletizers for Beverage Pallets
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Palletizing Your Products for Safe and Stable Pallets
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High Level Palletizer
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These directions improve the programming and grant a bed to be laid out by three educated positions. These three positions will precisely make up for any skewness or inclined beds.
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See the example code on the left which can be downloaded in your convenience.
Palletizing presents an intriguing microcosm of advanced change, the spot data about items, machine effectiveness and guide work must work in live performance.
In little scope tasks, instructing all the focuses in a plate works pleasant, insofar as these elements never show signs of change and your bed is small.
Of course palletizing isn't only an outbound procedure, Khodl provides.
Kawasaki can give a response to give your assembling line the adaptability and item value it must contend in at present's economy.
Depalletizing of Telescope-Type Boxes
The appearance of items inside a request and inside a bed issues, he gives. Contingent upon what outbound burdens seem, by all accounts, to be, the information will help educate a fitting amount regarding computerization to make it work.
What Is Palletizer?
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Floor Level Palletizer
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