The Global Industrial Robotics Market size was valued at USD 32.32 billion in 2021 and is predicted to reach USD 88.55 billion by 2030 with a CAGR of 12.1% from 2022-2030. Industrial robots play a vital role in automating manufacturing processes across different industries. They can perform different industrial tasks such as loading, packaging, labelling, product inspection, and shifting among others. Industrial robot increases productivity and profitability of organizations by eliminating labour-intensive activities with high degree of accuracy and efficiency. Moreover, they can work in hazardous environment such as high-pressure or vacuum chambers, and areas where there are explosions, infections, and radiation among others. They are widely used in automobiles and heavy engineering industries. Market Segmentations and Scope of the Study: The industrial robotics market share is segmented based on type, industry, function, and geography. On the basis of type, the market is segmented into articulated, cartesian, SCARA, cylindrical and others. Based on the Industry, the market is segmented into automotive, electrical & electronics, chemical, rubber & plastics, machinery, metals, food & beverages, precision & optics and others. On the basis of function, the market is divided into soldering and welding, materials handling, assembling & disassembling, painting and dispensing, milling, cutting and processing and others. Based on the geography, the market is divided into North America, Europe, Asia-Pacific and RoW. Request free sample: https://www.nextmsc.com/industrial-robotics-market/request-sample Geographical Analysis: North America holds the lion share of the industrial robotics market at present. This is attributed to the factors such as increasing wages of workers and large-scale adoption of robots in various industries, such as entertainment, education and healthcare. Also, the U.S. has the largest defence budget globally. A large portion of this budget goes into military modernization and hardware upgrades. In recent times, there has been a substantial adoption of robots in the country’s military and defence industry, which in turn boosts the industrial robotic market demand. However, Asia Pacific is expected to show the fastest growth in terms of market share due to the rising inclination towards automation in countries such as Japan, China and India. China is expected to drive the market growth in this region. A strong financial position allows it to invest heavily in latest tools and hardware including robots to increase the efficiency and improve industrial production. Inquire before buying: https://www.nextmsc.com/industrial-robotics-market/inquire-beforebuying Competitive Landscape
Lucrative growth opportunities make the industrial robotic market extremely competitive. Some of the major players in the market are ABB, Fanuc, Omron, Denso Corporation, Kawasaki Heavy Industries, Brenton, LLC, Krones AG, Mitsubishi Electric Corporation, YASKAWA Electric Corporation, KUKA AG and Fanuc Corporation. Strategic alliances, acquisitions and innovations along with R&D are key strategies adopted by market players to maintain their market dominance. For instance, in September 2020, ABB launched IRB 1300 for confined spaces, which helps customers to meet the demand for more compact and faster robots. Also, in September 2020, KUKA launched a new SCARA robot that can perform tasks such as material handling, inspection tasks and small part assembly, with a payload upto 6 kg. About Us: Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics. We carefully analyse the historical data, augment it by constantly keeping an eye on the latest industry trends and estimate the future events to arrive at accurate market forecasts. For more insights, please visit, https://www.nextmsc.com
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