Industrial Robotics Market To Reach $70,715 Billion By 2023 | CAGR 9.4 Global Opportunity Analysis and Industry Forecast, 2017-2023
Industrial Robotics Market Overview: he Global Industrial Robotics Market was valued at $37,875 million in 2016, and is projected
to reach $70,715 billion by 2023, growing at a CAGR of 9.4% from 2017 to 2023. Global Industrial Robotics Market is majorly driven by a surge in labor charges worldwide,
which in turn has enforced manufacturers to replace human labor with machines. Asia and Europe are the key growth regions of the world, with leading players, namely ABB, Fanuc, KUKA, Kawasaki, and the Yaskawa Electric Corporation being based out in the region.
Download Sample Report: The global industrial production output is expected to witness moderate growth during the
forecast period. The demand for industrial robotics is majorly observed in industries such as automobiles and heavy engineering. However, increased need for automation in nonconventional areas, such as microelectronics, has increased the demand of industrial robotics. Hence, an auxiliary channel utilizing industrial robotics has surfaced in the recent years. The heavy engineering sector is also responsible for the increased demand of industrial robotics.
Rapid Industrialization And Automation  Increase in demand for automation and rapid growth in industrialization foster the use of
industrial robots. Increased adoption of these robots in automotive, food & beverages, machinery, and precision & optics industries for automating processes, which leads to increased efficiency, reduced human errors, and enhanced safety of the workforce, has been observed. Some painting and pick & place functions are carried out by robotic arms, which reduce complexity and possibility of errors. Surveillance & security have improved due to the implementation of drones. Industrial robots deliver high-quality products and services, increase the capabilities of manual labor in terms of efficiency, provide better customer services, and efficiently manage processes.
Key Benefits: This study provides the analytical depiction of the global industrial robotics market along with the trends and future estimations to depict the imminent investment pockets.. • The overall industrial robotics market potential is determined to understand the profitable trends to gain stronger coverage in the market. The report presents information regarding key drivers, restraints, and opportunities along with detailed impact analyses. • Quantitative analysis of the industrial robotics market for the period of 20172023 is provided to determine its financial competency. Porter’s five forces analysis of the global industrial robotics industry illustrates the potency of buyers and suppliers in the industrial robotics industry.
Industrial Robotics Market Key Segments:  The industrial robotics market is segmented based on type, industry, function, & geography.
By Type
By Industry
By Function
By Geography
Articulated
Automotive
Soldering and Welding
North America
Cartesian
Electrical & Electronics
Materials Handling
Europe
SCARA
Chemical, Rubber & Plastics
Assembling & Disassembling
Asia-Pacific
Cylindrical
Machinery
Painting and Dispensing
RoW
Others
Metals
Milling, Cutting & Processing
Food & Beverages
Others
Precision & Optics Others
Key Market Players Daihen Corporation Denso Corporation Epson America, Inc. Fanuc Ltd. Kawasaki Heavy Industries Ltd. KUKA Robotics Corporation Mitsubishi Electric Corporation Nachi Robotic Systems, Inc. Panasonic Corporation Universal Robotics Yaskawa Electric Corporation
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