Market Research Report
Industrial Robotics Market, By Type, By Industry, By Function and by Region - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028
|Industrial Robotics Market, By Type, By Industry, By Function and by Region - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028|
Published: May 17, 2022
Coherent Market Insights
Content info: 135 Pages
Delivery time: 2-3 business days
An industrial robot is an automatically controlled, mechanical device used in place of an individual to perform dangerous, error-free or high accuracy operations. The industrial robots offer many benefits such as cost reduction, size reduction, improved manufacturing quality and flexibility. Industrial robotics are high on demand and used in various industries such as automotive, electronics, food & beverages and many others. According to the International Federation of Robotics (IFR), in 2020, around 1.64 million industrial robots were in operation globally.
Rapid industrialization and automation is expected to drive industrial robot market growth during forecast period. The increased adoption of industrial robots in many industries such as automotive, manufacturing, food & beverages, machinery industries for automated processes can lead to the increased efficiency, improve safety and minimize human errors. The surveillance and security systems has been improved with the implementation of drones. The industrial robots can deliver high quality product and services and provide better efficiency in the industry. Moreover, several industries are implementing industrial robots solutions in order to reduce labor cost and improve efficiency. These factors are expected to drive the demand for industrial robotics market.
Reduction of duties and increased investments on R&D is expected to boost the global industrial robotics market growth over the forecast period. The global economies especially the neo developed economies are opening up their markets to import capital goods. The custom duties have gone down to zero percent in many economies such as India and China for used capital goods. However, as old robots are refurbished and exported to neo developed countries such as India, the demand for refurbished robots is expected to hold a dominant position in terms of demands for newer industrial robots. Moreover, many key players are focused on new product development according to customer requirements. For instance, in 2013, Yaskawa Electric Corporation invested 10% of their overall income in the R&D process for developing new products. Therefore, these factors are expected to propel the global industrial robotics market growth over the forecast period.
This report segments the global industrial robotics market on the basis of type, industry, function and region. On the basis of type, the global industrial robotics market is segmented into cartesian, articulated, cylindrical, scara and others. On the basis of industry, the global industrial robotics market is segmented into electrical & electronics, automotive, machinery, chemical, rubber & plastics, food & beverages, metals, precision & optics and others. On the basis of function, the global industrial robotics market is segmented into materials handling, milling, cutting and processing, soldering and welding, painting and dispensing, assembling & disassembling and others. On the basis of region, the global industrial robotics market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
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