PUBLISHER: Roots Analysis | PRODUCT CODE: 1721366
PUBLISHER: Roots Analysis | PRODUCT CODE: 1721366
As per Roots Analysis, the global industrial robotics market size is estimated to grow from USD 18.8 billion in current year to USD 39 billion by 2035, at a CAGR of 7.49% during the forecast period, till 2035.
Driven by the ability of industrial robots to provide optimal results in shorter periods, the demand for these robots is expected to grow in the near future. Moreover, the cost-effectiveness and minimized errors associated with these machines is making them an ideal option for automating production processes, thereby positioning the market for healthy growth during the forecast period.
The opportunity for industrial robotics market has been distributed across the following segments:
Type of Robot
Type of Traditional Industrial Robot
Payload
Mobility
Application Area
End-User
Geography
Leading Players
The fourth industrial revolution is transforming manufacturing processes for various organizations through the implementation of robotics and interconnected devices. In recent years, the global demand for consumer electronics and automobiles has surged. As a result, manufacturers are continuously employing industrial robots to automate numerous manufacturing tasks that require consistent repetition. Industrial robots are robust machines designed to enhance the efficiency of various manufacturing processes via automation. Further, industrial robots offer the versatility to function in a range of challenging environments, including high-pressure vacuum chambers and radiation zones, to minimize direct human contact.
It is worth noting that there are currently more than 3 million industrial robots functioning worldwide. These robots have the ability to generate throughput that is more efficient than that of human workers. As reported by the International Trade Administration (ITA), businesses that use automated labor have experienced a productivity increase of over 5%. Consumers are seeking more adaptable industrial robots that can handle a wider variety of payloads. For example, KUKA industrial robots can lift weights up to 500 kgs and have an arm reach exceeding 2,500 mm.
Based on the type of robot, the global industrial robotics market is segmented into traditional industrial robots and collaborative robots. Currently, majority of the market share is captured by traditional robots. However, collaborative robots' segment is expected to grow at a higher CAGR, owing to the increased demand for robots working in collaboration with humans.
Based on the type of payload, the global industrial robotics market is distributed across various payload capacities, including low payloads (<20 Kgs), medium payloads (20 to 150 Kgs) and high payloads (>150 Kgs). Currently, majority of the market share is captured by robots supporting low payloads (<20 Kgs). This can be attributed to their widespread adoption in the packaging processes within the medical devices, pharmaceuticals, and cosmetics industries.
Based on the level of intelligence, the global industrial robotics market is distributed across stationary robots and mobile robots. Notably, market share for mobile industrial robots is expected to grow at a higher CAGR during the forecast period. This can be attributed to their extensive deployment in autonomous operations across multiple sectors, particularly in the pharmaceuticals and cosmetics industries.
Based on the applications, the global industrial robotics market is distributed across handling, welding, assembling, cleanroom, dispensing, processing and other application areas. Currently, majority of the market share is captured by industrial robots utilized for handling operations. Moreover, it is worth noting that since 2019, the global installation of industrial robots for handling operations has experienced a significant growth rate (14%).
Based on the end-users, the global industrial robotics market is distributed across electronics industry, automotive industry, metal and machinery industry, plastics industry, food and beverages industry and other industries. Currently, majority of the market share is captured by industrial robots used in the electronics industry. However, industrial robots used in automotive industries are expected to grow at a higher CAGR during the forecast period.
Based on the geography, the global industrial robotics market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa and Rest of the World. According to our estimates, presently Asia-Pacific holds the highest share in the overall market. However, the industrial robotics market in Middle East and African region is anticipated to grow at a higher CAGR, during the forecast period.
The report on the industrial robotics market features insights on various sections, including:
industrial robot, [C] payload, [D] mobility, [E] application area, [F] end-user, [G] geography and [H] leading players