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Industrial Robotics Market Segmentation: By Product Type (SCARA Robots, Articulated Robots, Human-Assist Robots, Cartesian Robots); By Application (Handling, Dispensing, Welding and Soldering,� Assembling & Disassembling and Others); By End Users (Food and Beverage, Automotive, Healthcare and Pharmaceuticals, Electrical & Electronics and Others) and Region - Analysis of Market Size, Share & Trends for 2014 - 2019 and Forecasts to 2030
[ 170 + Pages Research Report ] Industrial Robotics Market to surpass USD 19.82 Billion by 2030 from USD 6.5 Billion in 2020 at a CAGR of 11.40% throughout the forecast period, i.e. 2020-30.
An industrial robot is an automatic robot system used for manufacturing in various companies. These are programmable mechanical devices capable of performing repetitive and dangerous tasks eliminating the human workforce and ensuring higher accuracy. Robots comprise machine vision sub-systems that act as their visual sensors that are connected to powerful controllers, used for more precise directions. Industrial robots could be characterized into Gantry Robots, SCARA Robots, Cartesian Robots, Articulated Arm Robots, and Human Assist Robots depending upon the type of application and tasks to be performed in different industries. Robotics also provides software programming, recommendations, and training along with information and resources for the companies to design systems, determine low-cost solutions, or provide retrofitting of the used systems of application.
Global Industrial Robotics Market to surpass USD 19.82 Billion by 2030 from USD 6.5Billion in 2020 at a CAGR of 11.40% throughout the forecast period, i.e. 2020-30. Global Industrial Robotics Market is expected to observe growth in the future due to its advanced technologies offering a reduction in costs, increased rate of operations, improved quality, and manufacturing efficiency to the industries. The incorporation of Artificial Intelligence such as the development of self-programming robots and deep learning is expected to accelerate the growth of the industrial robotics market.
In October 2019, ABB (Switzerland) announced an investment in Shanghai, China worth USD 150 million for setting up an advanced robotics factory to manufacture robots that would be operational by the end of 2020.
The global Industrial Robotics Market is segmented by product type into SCARA Robots, Articulated Robots, Human-Assist Robots, and Cartesian Robots. The articulated Robots segment held the largest market share of XX.X% in the year 2018 and is anticipated to dominate the global market throughout the forecast period. Articulated robots hold diverse uses such as assembling and packaging, welding, painting, palletizing, etc., and are not limited to moving along a corresponding coordinate axis and have a flexible movement allowing them to perform complex tasks.
The global Industrial Robotics Market is segmented by application into Handling, Dispensing, Welding and Soldering, Assembling & Disassembling, and Others. The material Handling segment held the largest market share of XX.X% in the year 2019 and is expected to maintain this trend throughout the forecast period.
The global Industrial Robotics market is also segmented by end-users into Food and Beverage, Automotive, Healthcare and Pharmaceuticals, Electrical & Electronics, and Others. The automotive segment held the largest market share of XX.X% in the year 2018 and is anticipated to grow with the highest CAGR throughout the forecast period. The automotive industry is the largest user of industrial robots for manufacturing and assembling components such as chassis, engines, brakes, etc. Healthcare and pharmaceutical segment is also expected to witness growth since robotics applications enable us to work in sterile environments eliminating the possibility of contamination from the environment or humans at the time of component transfer.
Automation and mounting industrialization
Government bodies and industries are implementing significant schemes for promoting advanced manufacturing technology by introducing automation which has simplified the production process and mostly eliminated the use of human labor in performing various operations, thus, leading to a fall in the costs of production. Rapid industrialization has also fostered the growth of the industrial robotics market.
The dearth of skilled workforce
Shortage of skilled workforce leads to higher labor costs which have encouraged industries to adopt industrial robotics solutions that tend to reduce their labor costs and offer high efficiency, productivity and profits. Tasks that face difficulty to be performed by the human workforce favor the adoption of industrial robotics since it simplifies the operation and increases productivity.
High Investment Costs
Higher installation and investment costs are incurred for the functioning of industrial robots in various industries which is a key restraining factor for the growth of the industrial robotics market.
The implementation of lockdown throughout the world has disrupted activities among various industries which have hampered the growth of the industrial robotics market. The automotive industry majorly makes use of industrial robots in manufacturing and assembling processes of engines, axles, chassis, etc., pandemic has slowed down the production process considerably reducing consumer demand as a result of which a fall in the investment by vehicle manufacturers is anticipated to affect the industrial robots’ market. Shortage of skilled laborers due to the spread of coronavirus has encouraged manufacturers to turn to automation which would reduce the manufacturing costs, but high installation and investment costs are incurred for the functioning of industrial robots in various end-use industries which have adversely impacted the industrial robotics market.
YASKAWA
The global Industrial Robotics market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.
The global Industrial Robotics market in the Asia Pacific region held the largest market share of XX.X% in the year 2018 due to rising automation majorly in the manufacturing industry. Additionally, rising disposable income and population of the economy have led to an increase in consumer demand and consumption, subsequently leading to a rise in the production capacity that could be enhanced with the use of robots in industrial applications.
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
Industrial Robotics Market Segments:
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