At a compound annual growth rate of 14.3%, the industrial robot market size is expected to reach USD 30.8 billion by 2027 during this period. [2022-2027] globally

At a compound annual growth rate of 14.3%, the industrial robot market size is expected to reach USD 30.8 billion by 2027 during this period. [2022-2027] globally

MarketsandMarkets Research Pvt. Ltd.

CHICAGO, Nov. 18, 2022 (GLOBE NEWSWIRE) — Report Industrial robotics market By Type (Conventional and Collaborative Robotics), Component, Payload, Application (Handling and Processing), Industry (Automotive, Food and Beverage), and Region (North America, Europe, Asia-Pacific, Asia-Pacific) – Global Outlook to 2027″Rising demand for collaborative robots across industries, projected shortages of skilled labor in manufacturing industries, and growing reliance on Industry 4.0 are expected to drive the growth of the industrial robotics market in the next five years. However, the high cost of deployment for SMEs and safety concerns related to industrial robotics systems are expected to be the major challenges and limiting factors for industry players.

[383 Pages Report] According to MarketsandMarkets, the industrial robot market is expected to grow from US$15.7 billion in 2022 to US$30.8 billion by 2027; It is expected to grow at a compound annual growth rate (CAGR) of 14.3% from 2022 to 2027.

Major players in industrial robots industry

  • Maxar Technologies (USA),

  • Planet Labs BBC (USA),

  • L3 Harris Technologies (USA),

  • Airbus SE (Netherlands),

  • Trimble, Inc. (United States) among others

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ABB is a leading robotics, machine automation and digital services company, providing innovative solutions to a variety of industries, from automotive to electronics to logistics. The company is a leading supplier of industrial robots, modular manufacturing systems and services. Its operations are organized through four business divisions – Electrical, Motion, Industrial Automation, and Robotics and Discrete Automation. All industrial robots offered by the company are handled by the separate Robotics and Automation business segment. It is estimated that more than 300,000 ABB robots have been installed worldwide. Robotics solutions from ABB are used in industries such as automotive, metal fabrication, foundry, plastics, Food and drinks, chemicals, pharmaceuticals, consumer electronics, solar energy, and lumber. It is suitable for welding, material handling, coating, picking, packaging and palletizing applications.

Yaskawa It operates through four major business segments: motion control, robotics, systems engineering, and others. The Robotics division provides industrial robots for various manufacturing applications (such as material handling, welding, and coatings) and is currently the second largest business segment. The company introduced the first industrial robots in 1977 and serves them under the MOTOMAN brand. Yaskawa offers both traditional and collaborative industrial robots, including articulated and parallel robots. The load capacity of the robots ranges from 0.5kg to 900kg. The company also developed the i3-Mechatronics digital data solution for functions such as data visualization, automatic assignment of robot tasks and motion trajectory generation, artificial intelligence picking function, and centralized control of peripherals. Yaskawa industrial robots contribute to improving productivity and quality through the stable operation of customers’ production sites.

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Industrial robots market dynamics

Drivers: Increasing demand for collaborative robots across industries

Cobots are getting more intuitive and easier to program for novice users. For example, Universal Robots (Denmark) provides the UR+ platform to enable users to program the robot and use various robots Android end effectsand additional vision systems and software from other manufacturers, including Robotiq (Canada), Schunk (Germany), PIAB (Germany), OnRobot (Denmark), Cognex (US), and Energid (US). Peripherals and software offered by these companies are UR+ certified to reduce compatibility issues with robots manufactured by Universal Robots (Denmark). Companies of all sizes are adopting collaborative robots for new and existing applications. For example, BMW (Germany) deployed Universal Robots’ UR10 robot for sticking and other dispensing applications. These stronger, faster, and more capable cobots will accelerate the company’s expansion in high-growth sectors including electronics, healthcare, consumer goods, logistics, and food and beverage, meeting growing demand for automation in many industries.

Limitations: High cost of deployment for small and medium businesses

A robotic automation project can be challenging, especially for companies with no prior experience. Replacing human workers may not always reduce an organization’s operational costs. A single collaborative bot system can cost anywhere from $3,000 to $100,000. The price of the industrial automated system ranges from 15,000 USD to 150,000 USD. The cost of industrial robots, along with integration costs and the cost of peripherals such as final effectors and vision systems, makes automation an expensive investment for small and medium businesses, especially when they are involved in low-volume production. The price issue is most acute for companies involved in seasonal or inconsistent production schedules.

Opportunities: The emergence of Industry 5.0

Industry 5.0 is a relatively new concept. According to the European Commission, Industry 5.0 presents a vision of industry that aims beyond efficiency and productivity as the sole goals and strengthens the role and contribution of industry to society. It puts worker welfare at the center of the production process and uses new technologies to provide prosperity beyond jobs and growth while respecting the production frontiers of the planet. Complements Industry 5.0 Industry 4.0 An approach by specifically placing research and innovation at the service of the transition to a sustainable, human-centered and resilient European industry. Industrial robots will be a critical component of the Fifth Industrial Revolution. They will help close the design loop. By fully and effectively automating the entire production process, humans will be left free to create and innovate without having to worry about production limitations. Unlike Industry 4.0, Industry 5.0 aims to bring the human touch back into development and production. The creative intellectual capacity of man is expected to be used optimally. Thus, the emergence of Industry 5.0 will create a lucrative opportunity for collaborative bots.

Challenges: Safety concerns related to industrial robotics systems

Many safety issues are associated with industrial robots. Some robots, particularly those in a traditional industrial setting, are fast and powerful. This increases the potential for injury because a single swing of a robotic arm, for example, can cause serious bodily harm. There are additional risks when the robot breaks down or requires maintenance. A malfunctioning robot is usually unpredictable and can cause injury to workers. For example, a robotic arm that is part of an automobile assembly line may experience a jammed engine, and a worker repairing a jam may strike the arm when it becomes unblocked. Likewise, a worker standing in an area that interferes with nearby robotic arms may be injured by other moving equipment. Several Indian companies have reported crushing and trapping incidents, and crashes or collisions caused by malfunctioning mechanical parts of industrial robots. For example, in 2020, a 44-year-old welder at Automotive Stampings & Assemblies Ltd (Asal) in Pune (India) was killed after being hit in the head and neck by a robotic robotic arm.

Automotive is witnessing a large share in the industrial robots market

Automotive has a large share in the industrial robot industry. The automotive industry is one of the largest users of industrial robots, although it is gradually losing share to other industries. Manufacturers such as BMW AG (Germany), Nissan (Japan), and Bajaj Auto (India) have either introduced or replaced traditional industrial robots with collaborative robots for applications such as material handling and dispensing. The Gestamp (Spain) plant in Bielefeld uses a fully automatic arc welding system from KUKA Systems to ensure the quality of manufacture of metal automotive components. KUKA (Germany) supplies no fewer than 18 robots to the auto industry that do everything from laser welding and washing to creating seat elements for BMW cars using 3D engineering. Acieta (USA) has installed more than 4,400 of its industrial vehicle manufacturing robots across all plants in North America.

Related reports:

  1. The Service robotics market It is expected to grow from US$36.2 billion in 2021 to US$103.3 billion by 2026; It is expected to grow at a compound annual growth rate (CAGR) of 23.3% from 2021 to 2026.

  2. The Robot Effector end market It is expected to grow from US$1.9 billion in 2021 to US$4.4 billion by 2026; It is expected to grow at a compound annual growth rate (CAGR) of 18.8% from 2021 to 2026.

  3. The Collaborative Robot Market (Cobot) It is expected to grow from US$ 1.1 billion in 2022 to US$ 9.2 billion by 2028, at a compound annual growth rate of 41.5% over the forecast period of 2022 to 2028

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