Industrial Robotics Market, Size, Share, Global Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Company Analysis

Industrial Robotics Market, Size, Share, Global Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Company Analysis

Global Industrial Robotics Market will reach US$ 43.95 Billion by 2027. Robotics refers to that element of engineering and science where diverse robots are designed, manufactured, and then employed to substitute human involvement in various applications. Further, industrial robotics is the most progressive reform in the industries where a programmable device or mechanical machine is used to execute the day-to-day activities, which are not easy for a human to function as usual. Remarkably, the main benefit of an industrial robotics system is to reduce operational costs by reducing the time required to complete the work.

Worldwide Industrial Robotics Industry is expected to expand with a CAGR of 9.4% during 2021-2027:

Advancement in technology, growing demand for sophisticated products and components with high accuracy, and increasing professional working activity in remote and hazardous environments are significant factors driving the growth of the global industrial robotics market. Moreover, robots are also being used across the entire production cycle in assembly, dispensing, milling, inspection, packaging, and palletizing. Further, advancements in end effectors and vision systems are also expected to contribute to the push for the industrial robotics industry.

By Segment: Automotive Industry Capture Lion’s Share:

By Segment, the global Industrial robotics market is segmented into Automotive Industry, Electrical & Electronics Industry, Metal & Machinery Industry, Plastic & Chemical Products, and Food Industry. As per our analysis, the automotive industry segment of the global industrial robotics market is projected to capture the lion’s share. The efficiency in vehicle manufacturing, inspection, and superior finishing, along with the review, are some of the prime factors contributing to the industrial robotics demand in the automotive market. According to Renub Research, Global Industrial Robotics Market Size has reached US$ 25.69 Billion in 2021.

Asia & Australia has Dominant Market in the Global Industrial Robotics Market

Asia/Australia has become dominant in the global industrial robotics market in recent years. The dominance of the Asian/Australian region is ascribable to the rising automation in countries such as China, India, Japan, the Republic of Korea, and Thailand. Furthermore, the increasing population and disposable income of people expand the consumption of consumer goods and other products, owing to which the production capability is increasing, further supplementing the market size. Hence, the adoption of robotics in industrial applications is enriching to map the demand.

Similarly, European countries like France, Germany, Italy, and Spain are anticipated to show exponential augmentation due to the instantaneous emergence of industry 4.0 and smart factories. In addition, increasing demand for customized & compact robotic systems. Furthermore, the United States, Canada, and Mexico, located in the American region, have also shown substantial growth due to its demand across the manufacturing vistas. Numerous suppliers are also scheming to extend their business in the coming years across the region.

Competitive Landscape:

The industrial robotics market is highly fragmented. Industry and digitalization initiatives across regions provide lucrative opportunities in the industrial robotics market. The degree of transparency is high, considering the number of robotic trade shows across conducted areas from time to time. Overall, the competitive rivalry amongst existing competitors is elevated. Driving forward, acquisitions and collaboration of large companies with start-ups are anticipated to focus on innovation.

The key players studied in our report are iRobot Corporation, Intuitive Surgical, Inc, Panasonic Corporation, Fanuc, ABB Ltd, Stryker Corporation, and Yaskawa Electric Corporation. April 2021: ABB’s new ‘cobot GoFa ‘was awarded the prestigious – “Best of the Best Red Dot” award for its unique design concept, making new robots appealing to the users and efficient.

COVID-19 Impact on Global Industrial Robotics Market Growth Trends:

Amidst the COVID-19 era, it has been observed that the demand for industrial robotics had slowed down. Further, to control the spread of the pandemic, many countries across the globe implemented strict lockdown norms, which hampered all kinds of business activities. Demand & supply of products, raw materials, and manufacturing facilities have been completely disrupted due to the pandemic, which created weak demand for industrial robotics across the globe. However, the market grew at a healthy pace in 2021.

Renub Research latest report “Industrial Robotics Market, Global Forecast By Segments (Automotive Industry, Electrical & Electronics Industry, Metal &Machinery Industry, Plastic & Chemical Products, and Food Industry), Region [America (the United States, Canada, and Mexico), Europe(France, Germany, Italy, and Spain) and(Asia/Australia (China, India, Japan, the Republic of Korea, and Thailand), Rest of The World], Companies (iRobot Corporation, Intuitive Surgical, Inc, Panasonic Corporation, Fanuc, ABB Ltd, Stryker Corporation, and Yaskawa Electric Corporation)” provides a detailed analysis of Industrial Robotics Industry.

Segments - Market & Volume Analysis have been covered from 6 viewpoints:

1. Automotive Industry
2. Electrical & Electronics Industry
3. Metal & Machinery Industry
4. Plastic & Chemical Products
5. Food Industry
6. Others

Region – Robotics Market have been covered from 4 viewpoints:

1. America

• United States
• Canada
• Mexico
• Others

2. Europe

• France
• Germany
• Italy
• Spain
• Others

3. Asia/Australia

• China
• India
• Japan
• Republic of Korea
• Thailand
• Others

4. Rest of The World

Company Insights:

• Overview
• Recent Development & Strategies
• Financial Insights

Company Analysis:

1. iRobot Corporation
2. Intuitive Surgical, Inc
3. Panasonic Corporation
4. Fanuc
5. ABB Ltd
6. Stryker Corporation
7. Yaskawa Electric Corporation