The worldwide Industrial Robots market was valued at USD 27.87 billion in 2022 and is estimated to increase at a 10.6% CAGR during the forecast period. Industrial robots are devices made to carry out different industrial activities autonomously, taking the place of human labor in a number of production processes. Numerous industries, including the automotive, electronics, food and beverage, and pharmaceutical sectors, employ these robots extensively. Industrial robots are capable of carrying out a variety of jobs, including material handling, welding, painting, assembling, and packing.
All things considered, industrial robots are becoming more and more crucial to production operations since they provide advantages including higher productivity, better quality, more safety, and lower costs. It is anticipated that as technology develops, industrial robots’ capabilities will increase and they will be used more widely across a variety of sectors.
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Industrial Robots Market Segmentation
By Application
- Handling
- Assembling & disassembling
- Welding & Soldering
- Cleanroom
- Dispensing
- Processing
Regional Scope
- North America
- Europe
- APAC
- South America
- Middle East
- Africa
Key Players
- ABB Ltd.
- Yaskawa Electric Corporation
- Mitsubishi Electric Corporation
- Nachi-Fujikoshi Corp.
- Comau SpA
- KUKA AG
- Fanuc Corporation
- Denso Corporation
- Kawasaki Heavy Industries, Ltd.
- Omron Corporation
Market Driver
Robots may now be used by enterprises to simplify numerous processes, increase productivity, and reduce mistakes thanks to the development of new technologies made possible by Industry 4.0, such as AI-enabled robots and collaborative robots. For example, in July 2023, the article “UN Uses AI-Enabled Robots to Monitor Climate Change” describes how the UN uses robots with AI capabilities to monitor and control the effects of climate change. These robots improve the safety, efficiency, and accuracy of data collection in remote locations, allowing for effective mitigation tactics and real-time monitoring. Increased research and development is required to address the difficulties posed by climate change. One of the main factors propelling robotics growth across sectors and, therefore, the robotics market is the growing global use of Industry 4.0 in manufacturing.
Market Opportunity
The electronics sector is beginning to see the advantages of customization, which has long been standard in the car sector, as profit margins contract. Robots may be employed in every stage of the manufacturing cycle, from palletizing to assembly, and their employment is becoming more and more necessary as end effectors and vision systems become more advanced. By making investments in robotics, manufacturing staff will be able to concentrate on high-criticality jobs like quality control and final inspection. Robots that collaborate with people can be flexible and reusable while working side by side with them. Most electronics produced worldwide are made in Asia, and as labor prices rise, nations like China are investing in robots to preserve their cost advantages. Automation is expected to play a significant role in the electronics sector, particularly in areas where redundant and repetitive operations are involved. This will free up the current staff to focus on more sophisticated and hard projects.
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