Who are the key vendors in the Industrial Robotics Market?

The competitive landscape of the global industrial robotics market is characterized by intense rivalry and a diverse array of key players vying for market share in this rapidly evolving industry. These players compete based on factors such as product portfolio, technological advancements, pricing strategies, and market reach. They use their huge experience and smart technology to give a wide range of robotics solutions. These big players in the industry always put their money into research and development. They do this so they can create new sensor technologies, keeping them ahead of what's popular in the market. Market players focus on strategic collaborations, partnerships, and mergers and acquisitions to expand their market presence and gain a competitive edge. 'ABB Ltd (Switzerland) ', 'Fanuc Corporation (Japan) ', 'Yaskawa Electric Corporation (Japan) ', 'Kuka AG (Germany) ', 'Kawasaki Heavy Industries Ltd (Japan) ', 'Mitsubishi Electric Corporation (Japan) ', 'Denso Corporation (Japan) ', 'Epson Robots (Japan) ', 'Staubli International AG (Switzerland) ', 'Nachi-Fujikoshi Corporation (Japan) ', 'Universal Robots A/S (Denmark) ', 'Comau S.p.A. (Italy) ', 'Omron Adept Technologies Inc. (U.S.) ', 'Yamaha Robotics (Japan) ', 'FANUC India Private Limited (India) ', 'Rethink Robotics Inc. (U.S.) ', 'Adept Technology Inc. (U.S.) ', 'NACHI ROBOTICS SYSTEMS INC. (Japan) ', 'Toshiba Machine Co. Ltd. (Japan) ', 'Precise Automation Inc. (U.S.) ', 'Kawasaki Robotics (USA) Inc. (U.S.) ', 'KUKA Robotics Corporation (U.S.)'

What is the key driver of Industrial Robotics Market?

The demand for industrial robotics is increasing in emerging economies such as China, India, and Brazil, due to the growth of the manufacturing sector in these countries. This is expected to provide significant growth opportunities for the industrial robotics market in the coming years. Governments across the world are promoting the use of industrial robotics to increase productivity and competitiveness in the manufacturing sector. For instance, in the US, the government has launched the National Robotics Initiative to support research and development in robotics and automation.

What is the key market trend for Industrial Robotics Market?

Industry 4.0 named cyber-physical systems, IoT, and big data analysis is also affecting the industrial robotics market. This trend is based on the automation of manufacturing processes by using intelligent technologies, and all manufacturing systems are closely connected and can work simultaneously. With the help of such technologies developed and the further continuation of Industry 4. It has created a possibility to establish smart factories with improved performance and productivity as well as flexibility. Robotics is at the center of this change with robotic systems including sensors and connectivity features that make data collection for performance enhancement and to augment volatile production demands easy to achieve.

Which region accounted for the largest share in Industrial Robotics Market?

In 2023, the Asia Pacific region dominated the industrial robotics market, accounting for a share of over 65%. Throughout the forecast period as well, the region is anticipated to dominate the industrial robotics market. In Asia Pacific region, key players are increasingly adopting robotics technologies to automate the production process. Economies such as China, India, South Korea and Japan have experiencing rapid growth within the Industrial robotics market. Overall, the regional market has a significant opportunity and has growth due to the rising trend towards automation, artificial intelligence, and other cutting-edge technologies.

Industrial Robotics Market Size, Share, Growth Analysis, By Component(Robot Arm, Robot Accessories, Additional Robotic Hardware, System Engineering), By Payload(16.00 kg, 16.01–60.00 kg, 60.01–225.00 kg, and more than 225.00 kg), By Application(Handling, Assembling & Disassembling, Welding & Soldering, Cleaning), By End Use(Automotive, Electrical & Electronics, Metals & Machinery, Plastics), By Region - Industry Forecast 2024-2031

Report ID: SQMIG20I2180 | Region: Global | Published Date: July, 2024
Pages: 202 | Tables: 163 | Figures: 80

Industrial Robotics Market Dynamics

Drivers

Investments in Industrial Automation

Almost all industrial establishments are investing heavily in the development and adoption of novel automation solutions to maximize their efficiency and productivity in the future. This is slated to majorly boost industrial robotics demand outlook going forward.

Competitive Pressure

Leading industries are already using robots extensively to improve their product quality, and this is putting competitive pressure on other companies to do the same thereby driving sales of industrial robotics around the world.

Restraints

Resistance to Change

Industrial workers are still not ready to accept robots as concerns regarding workforce displacement arise. This resistance to change is also expected to impede industrial robotics adoption on a global level.

Maintenance and Support Requirements

The dearth of skilled professionals required to maintain and support industrial robotics is projected to lead to high costs of maintenance. These higher costs add up to the initial costs and slow down market growth potential.

Industrial Robotics Market Report Snapshots

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FAQs

Industrial Robotics Market size was valued at USD 14.7 Billion in 2022 and is poised to grow from USD 16.6 Billion in 2023 to USD 44.87 Billion by 2031, at a CAGR of 13.2% during the forecast period (2024-2031).

Industrial robotics market analysis players can target the development of novel and advanced robots with better functionalities. Integration of artificial intelligence and other technologies will also help in creating more advanced and autonomous robots. Industrial robotics companies can also target the development of collaborative robots to improve their business scope in the long run as demand for Cobots matures in the industrial landscape. 'KUKA Robotics ', 'ABB Robotics ', 'Fanuc Robotics ', 'Yaskawa Electric Corporation ', 'Kawasaki Robotics ', 'Universal Robots ', 'Rethink Robotics ', 'Fetch Robotics ', 'Clearpath Robotics ', 'GreyOrange ', 'Swisslog Holding AG ', 'Honeywell Intelligrated ', 'Dematic Corporation ', 'IAM Robotics ', 'Locus Robotics ', '6 River Systems ', 'Geek+ Robotics ', 'Balyo ', 'Magazino GmbH ', 'SSI Schaefer AG'

Almost all industrial establishments are investing heavily in the development and adoption of novel automation solutions to maximize their efficiency and productivity in the future. This is slated to majorly boost industrial robotics demand outlook going forward.

Customization: Industrial requirements are always evolving as per changing standards and regulations, which is why the demand for customizable industrial robots is projected to surge in the future. Industrial robotics companies can jump on the bandwagon early to make the most of this trend in the long run.

Asia Pacific is expected to emerge as the dominant market for industrial robotics companies. The presence of key robot manufacturers in this region and a strong industrial infrastructure are contributing to the high demand for industrial robotics in this region. India, China, and Japan remain at the forefront in terms of industrial robotics adoption in the Asia Pacific region. Rising labor costs and growing acceptance of robotics are also expected to help this region maintain its dominance over the coming years.

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