The latest report by IMARC Group, titled” Industrial Robotics Market Report by Type (Articulated Robots, Cartesian Robots, SCARA Robots, Cylindrical Robots, Parallel Robots, and Others), Function (Soldering and Welding, Materials Handling, Assembling and Disassembling, Painting and Dispensing, Milling, Cutting and Processing, and Others), End Use Industry (Automotive, Electrical and Electronics, Chemical, Rubber, and Plastics, Machinery and Metals, Food and Beverages, Precision and Optics, Pharmaceutical, and Others), and Region 2024-2032“, offers a comprehensive analysis of the industry, which comprises insights on the market. The global industrial robotics market size reached US$ 18.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 49.7 Billion by 2032, exhibiting a growth rate (CAGR) of 11.95% during 2024-2032.Â
Factors Affecting the Growth of the Industrial Robotics Industry:
- Technological Innovations and Advancements
Technological innovations and advancements are pivotal in driving the growth of the industrial robotics industry. The development of more sophisticated and intelligent robots, equipped with artificial intelligence (AI), machine learning, and advanced sensors, has significantly enhanced their capabilities. These advancements enable robots to perform complex tasks with higher precision, adaptability, and efficiency, making them indispensable in manufacturing, logistics, and other industrial applications. Furthermore, innovations in collaborative robots (cobots) have facilitated safer and more seamless human-robot interactions, broadening their applicability across various sectors. Continuous investment in research and development (R&D) to improve robotic technologies and integrate them with emerging technologies like the Internet of Things (IoT) and 5G will further propel the industry forward.
- Labor Shortages and Rising Labor Costs
Labor shortages and rising labor costs are major factors driving the adoption and growth of industrial robotics. Many industries, particularly in developed countries, are facing significant challenges in finding and retaining skilled labor. The aging workforce and declining birth rates contribute to this issue, prompting companies to seek automated solutions to maintain productivity. Industrial robots offer a viable alternative, capable of operating continuously without fatigue and performing repetitive or hazardous tasks that are difficult for human workers. By adopting robotics, businesses can mitigate the impacts of labor shortages, reduce operational costs, and enhance overall efficiency, making robotics an attractive investment in the long term.
- Government Policies and Industry Standards
Government policies and industry standards play a crucial role in shaping the growth of the industrial robotics industry. Supportive policies, such as tax incentives, subsidies, and grants for automation and digitalization initiatives, encourage companies to invest in robotic technologies. Governments in various countries are also implementing strategies to promote Industry 4.0, smart manufacturing, and the adoption of advanced robotics to boost their industrial competitiveness. Additionally, the establishment of industry standards and regulations ensures the safe and effective deployment of industrial robots. These standards address issues such as safety, interoperability, and performance, fostering a conducive environment for the growth and acceptance of industrial robotics across different sectors.
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Leading Companies Operating in the Global Industrial Robotics Market
- ABB Ltd.
- DAIHEN Corporation
- DENSO Corporation
- FANUC
- Kawasaki Heavy Industries Ltd.
- KUKA AG
- Mitsubishi Electric Corporation
- Nachi-Fujikoshi Corp.
- OMRON Corporation
- Panasonic Corporation
- Seiko Epson Corporation
- Universal Robots A/S (Teradyne Inc.)
- Yamaha Motor Co. Ltd.
- Yaskawa Electric Corporation
Industrial Robotics Market Report Segmentation:
By Type:
- Articulated Robots
- Cartesian Robots
- SCARA Robots
- Cylindrical Robots
- Parallel Robots
- Others
Articulated robots dominate the market as they are highly versatile and capable of performing a wide range of complex tasks with precision.
By Function:
- Soldering and Welding
- Materials Handling
- Assembling and Disassembling
- Painting and Dispensing
- Milling, Cutting and Processing
- Others
Materials handling accounts for the largest market share as it is a fundamental process in manufacturing and logistics, where robots improve efficiency, accuracy, and safety in tasks such as sorting, packaging, and palletizing.
By End Use Industry:Â
- Automotive
- Electrical and Electronics
- Chemical, Rubber, and Plastics
- Machinery and Metals
- Food and Beverages
- Precision and Optics
- Pharmaceutical
- Others
Electrical and electronics represent the largest segment due to their precision, speed, and ability to handle delicate components, which are essential in the production of devices like smartphones and semiconductors.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia-Pacific’s dominance in the industrial robotics market is attributed to rapid industrialization, significant investments in automation, and the presence of major manufacturing hubs in countries such as China, Japan, and South Korea.
Global Industrial Robotics Market Trends:
The global industrial robotics market is experiencing significant growth, driven by rapid advancements in automation, AI, and machine learning technologies. Increasing demand for efficiency and precision in manufacturing processes is propelling the adoption of industrial robots across sectors such as automotive, electronics, and logistics. The rise of collaborative robots (cobots) is notable, facilitating safer and more flexible human-robot interactions. Additionally, government initiatives supporting Industry 4.0 and smart manufacturing are accelerating robotics integration. The market is witnessing a trend toward more versatile and application-specific robots, enhancing productivity and operational efficiency across diverse industries and thus fueling market growth.
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