ANALYSIS AUTOMATION ROBOTICS INDUSTRY

Size of the global market for industrial robots

Excelling in tasks with precision

Automation and robotics excel at tasks that require precise movement, measurement, and repeatability. Human workers can have inherent limitations in repetitive tasks, leading to variations in quality and consistency. However, robots can always perform tasks with submillimetre accuracy and maintain the same level of precision throughout the manufacturing process.

For example, in industries like electronics and automotive manufacturing, automated systems can precisely place components on circuit boards or assemble intricate parts with high accuracy, ensuring consistent quality and reducing the chance of errors.

Automation and robotics generate large amounts of data throughout the manufacturing process. This data can be used to uncover valuable insights and make data-driven decisions that optimize operations and drive continuous improvement. Manufacturers can use machine learning algorithms to analyze the collected data and identify patterns, anomalies and opportunities for improvement.

This approach enables manufacturers to make proactive decisions to increase productivity, reduce waste, and optimize resource allocation. Additionally, predictive maintenance is another valuable application of data analytics in manufacturing.

By monitoring equipment performance and analyzing data from sensors and automation systems, manufacturers can predict potential equipment failures and proactively plan maintenance activities, minimizing unplanned downtime and maximizing production availability.

Industrial robotics’ market trends

The global industrial robotics market size was $37,876.0 million in 2020 and is expected to reach $116,848.7 million by 2030 with a CAGR of 11.7% from 2021 to 2030. Meanwhile, labour costs across the United Kingdom are increasing by over 12% each year, leading to a shortage of labour. To overcome such problems, market players are investing in industrial robotics. For example, in January 2022, the government invested in robotics to help the British people and economy deal with the inflationary crisis caused by labour shortages. In addition, it is estimated that US labour costs will increase by over 20%. This is therefore leading to an increase in industry initiatives to adopt robots to offset the labour costs and shortages that are driving the industrial robotics market. In addition, according to data from North America Factories and Industries, manufacturers and industrial users ordered more than 25,000 robots in 2021 compared to 2019.

High imports of robots are attributed to their use in the microelectronics industry, where small robots are used to pick and place small components. According to the trends, the global microelectronics industry has grown by more than 10% since 2010. Therefore, the growth in the microelectronics industry, which requires a larger number of robots, is expected to drive the industrial robot market.