DUBLIN, Dec. 19, 2022 (GLOBE NEWSWIRE) — The “Global Industrial Robotics Market, Size, Share, Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Company Analysis” The report has been added to ResearchAndMarkets.com Show.
This report provides a detailed analysis of the Industrial Robots industry. The global industrial robots market will reach US$43.95 billion by 2027, from US$25.69 billion in 2021.
|number of pages||190|
|forecast period||2021 – 2027|
|Estimated market value (in USD) in 2021||$25.69 billion|
|Projected market value (in USD) by 2027||$43.95 billion|
|The total annual growth rate||9.4%|
Robotics refers to the element of engineering and science where various robots are designed, manufactured and then employed to replace human participation in various applications.
Moreover, industrial robots are the most advanced reform in the industries where a programmable device or a mechanical machine is used to carry out daily activities, which is not easy for a human to operate as usual. Remarkably, the main advantage of the industrial robot system is the reduction of operational costs by reducing the time required to complete the work.
The industrial robotics industry is expected to expand worldwide at a compound annual growth rate of 9.4% during the period 2021-2027:
Advances in technology, growing demand for advanced products and components with high precision, and increasing professional work activity in remote and dangerous environments are important factors driving the growth of the global industrial robots market.
Moreover, robots are also used across the entire production cycle in assembling, distributing, grinding, inspecting, packaging and palletizing. Moreover, developments in final effectors and vision systems are also expected to drive the industrial robots industry.
By division: the auto industry takes the lion’s share:
By segment, the global industrial robots market is segmented into automotive industry, electrical and electronics industry, metallurgy and machinery industry, plastic and chemical products, and food industry. According to our analysis, the automotive segment of the global industrial robots market is expected to take the lion’s share.
Efficiency in vehicle manufacturing, inspection, and superior finishing, along with auditing, are some of the major factors contributing to the demand for industrial robots in the automotive market. According to the publisher, the global market size of industrial robots is estimated to be US$25.69 billion in 2021.
Asia and Australia have a dominant market in the global industrial robots market
Asia/Australia has become dominant in the global industrial robots market in recent years. The dominance of the Asian/Australian region has been attributed to the rise of automation in countries such as China, India, Japan, Republic of Korea and Thailand. Moreover, the increase in population and disposable income of individuals expand the consumption of consumer goods and other products, resulting in an increase in production capacity, thus complementing the size of the market. Hence, the adoption of robots in industrial applications is enriched to determine the demand.
Similarly, European countries such as France, Germany, Italy and Spain are expected to show an exponential increase due to the immediate emergence of Industry 4.0 and smart factories. In addition, the demand for customized and embedded robotic systems is increasing. Moreover, the United States, Canada, and Mexico, located in the American region, also showed great growth due to their demand across manufacturing horizons. Many suppliers are also planning to expand their business in the coming years across the region.
The industrial robots market is highly fragmented. Industry and digitization initiatives across regions provide lucrative opportunities in the industrial robots market.
The degree of transparency is high, considering the number of automated trade fairs across the regions that take place from time to time. In general, the competitive rivalry between existing competitors is high. Going forward, acquisitions and collaborations between large companies with startups are expected to focus on innovation.
The major players studied for 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 receives the prestigious “Best of the Best Red Dot” award for its unique design concept, which makes new robots attractive to users and efficient.
Impact of COVID-19 on Global Industrial Robotics Market Growth Trends:
In the midst of the COVID-19 era, it has been seen that the demand for industrial robots has slowed down. Moreover, to control the spread of the epidemic, many countries around the world have implemented strict lockdown standards, which has hampered all kinds of business activities.
The demand and supply of products, raw materials and manufacturing facilities have been completely disrupted by the epidemic, resulting in poor demand for industrial robots around the world. However, the market has grown at a healthy pace in 2021.
Main topics covered:
2. Research and methodology
3. Executive summary
4. Market dynamics
4.1 Growth drivers
5. Market and Volume Analysis – Global Industrial Robots
6. Stock Analysis – Global Industrial Robots
6.1 By sectoral market share
6.2 According to the size of the sector share
6.3 By Region Market Share
7. Segments- Industrial Robots Market and Size Analysis
7.1 Automotive industry
7.2 Electricity and electronics industry
7.3 Metallurgical and machinery industry
7.4 Plastic and chemical products
7.5 Food industry
8. Industrial robots market region
8.1.1 United States
8.3.4 Republic of Korea
8.4 Rest of the world
9. The Five Forces Porters
9.2 Buyers’ bargaining power
9.3 Bargaining power of suppliers
9.4 Competition score
9.5 Threat of Newcomers
9.6 Threat from Surrogates
10. Company analysis
10.1 iRobot Corporation
10.1.2 Latest Developments
10.1.3 Financial Information
10.2 Intuitive Surgical Firm
10.2.2 Latest Developments
10.2.3 Financial Information
10.3 Panasonic Corporation
10.3.2 Latest Developments
10.3.3 Financial Insights
10.4.2 Latest Developments
10.4.3 Financial Information
10.5 ABB Ltd
10.5.2 Recent Developments
10.5.3 Financial Insights
10.6 Stryker Corporation
10.6.2 Latest Developments
10.6.3 Financial Information
10.7 Yaskawa Electric Company
10.7.2 Latest Developments
10.7.3 Financial Information
For more information on this report visit https://www.researchandmarkets.com/r/xjeuk8
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