The Global Industrial Robotics Market was valued at USD 15.2 Bn in 2020 and is expected to reach USD 29.9 Bn by 2027, with a growing CAGR of 10.2% during the forecast period.
Industrial robots are machines that are used inside manufacturing units for performing numerous industrial processes like welding, painting, packaging and labeling, palletizing¸ product inspection, and testing. They are of various types which include articulated robots, cylindrical robots, SCARA robots, cartesian robots, and others.
An increase in demand for automation and fast growth in industrialization propels the growth of the industrial robotics market. Increased adoption of these robots in automotive, food & beverages, machinery, and precision & optics industries for automating processes, which results in improved efficiency, decreased human errors, and better safety of the workforce, has been observed. Some painting and pick & place capabilities are completed through robot arms, which lessen complexity and possibility of errors. Surveillance & security have stepped forward because of the implementation of drones. Industrial robots deliver exceptional products and services, increase the abilities of manual labor in terms of efficiency, offer higher consumer services, and effectively control processes. Thus, this will increase the demand for the industrial robotics market to a great extent in the coming years.
In addition, the increasing growth in the e-commerce industry is anticipated to drive the industrial robotics market during the forecast period. The growing trend of customers toward online shopping is fueling the e-commerce industry. The distribution centers, retailers, warehouses, and facility owners, are emphasizing incorporated automated robotics solutions. This demand is to gain on-time delivery, reduce labor costs, enhance efficiency, and productivity at every process. This is one of the important factors for industrial robots deployment. For instance, according to secondary sources, in 2020, around 2 bn people purchased goods or services online and e-retail sales surpassed USD 4.2 trillion across the globe.
By Industry Vertical
Based on the type, the articulated segment in the industrial robotics market is expected to hold the largest market share during the forecast period because it is broadly used in the automotive industry
Based on the type, the industrial robotics market has been segmented into articulated, scara, cylindrical, cartesian/linear, parallel, others. The articulated segment in the industrial robotics market is expected to hold the largest market share during the forecast period owing to the widely used articulated robots in the automotive industry. Articulated robots in the automotive industry includes variety of tasks such as handling, assembling, and disassembling, welding, dispensing (gluing and painting), and processing (cutting and polishing) as well as spot welding and painting. However, the pharmaceutical & cosmetic industries are witnessing an increasing demand for the adoption of articulated robots mainly in the present scenario, in which COVID-19 cases across the globe have led to an growing demand for checking out and manufacturing in which articulated robots can be deployed to obtain seamless automation throughout manufacturing processes in the pharmaceutical sector.
Based on payload, the 16 to 60 kg segment in the industrial robotics market show the highest growth rate during the forecast period due to the increasing demand for automation in the electrical and electronics industry
Based on payload, the global industrial robotics market has been segmented into up to 16 kg, 16 to 60 kg, 60 to 225 kg, More than 225 kg. The 16 to 60 kg segment in the industrial robotics market show the highest growth rate during the forecast period. The growth in this segment is attributed to the increasing demand for automation in the electrical and electronics industry. This payload included articulated, SCARA, parallel, and collaborative robots.
Based on region, North America to hold the significant market share in the industrial robotics market during the forecast period due to the leading innovators and pioneers in the adoption of robotics
Based on region, the global industrial robotics market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is predicted to hold a significant market share in the industrial robotics market during the forecast period owing to the leading innovators and pioneers in the adoption of robotics. Robots used in the region is expected to show constant growth, which is helping the US companies more competitive and leading to new job growth. Further, as per Robotic Industries Association (RIA), the most significant driver of the year-to-date increase of industrial robots turned around 83% growth in units that bought through automobile OEMs for process automation. Moreover, according to MIT, automotive manufacturing is accounted for a significant portion of the industrial robotics demand in the United States. Thus, proliferating the growth of the industrial robotics market in the region.
The report also provides an in-depth analysis of industrial robotics market dynamics such as drivers, restraints, opportunities, and challenges:
The COVID-19 pandemic has impacted various industries such as automotive, oil & gas, retail, and others. This is attributed to the strict lockdown imposed by the government to limit the spread of the COVID-19 pandemic. The industrial robotics market has also confronted a halt. Many of the customers had been not prepared to make investments in this services for diverse reasons. The COVID-19 has brought material shortage, labor shortage, health safety challenges, and other associated challenges. Therefore, the manufacturers are making plans to raise the increased customers’ demands for the robotics provider using cutting-edge technology to enhance the global sales generation. The pandemic outbreak has slowed down the global industrial robotics market economic growth, however, the key players have adopted appropriate measures to restore the situation for higher quality outcomes. This is expected to recover industrial robotics market in the coming years.
A detailed analysis specific to the industrial robotics market will be provided in the report.
The report also provides an in-depth analysis of key trends in the industrial robotics market:
The report also provides an in-depth analysis of recent news developments and investments:
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Market Overview & Competitive Landscape
Market Segmentation (Market Size and Share Analysis)
COVID – 19 Opportunity Mapping
Regional Market Analysis