Global Industrial Robotics Market: Demand Analysis and Growth Forecast
Typically, an industrial robot would include functions such as painting, assembly, welding, pick and place, and packaging & labeling. Owing to the efficiency benefits that they offer, the increasing demand for industrial robotics is drastically observed in various industries such as heavy engineering and automobiles. Industrial Robotics Market is gaining traction from one of the largest sectors which is the automotive industry. General Motors was the first company that had installed industrial robots as a manufacturer in 1962, which was named as Unimate. This resonates with the recent business publication by IndustryARC, which evaluates the industrial robotics market size at $7,800 to $8,500 million in 2018, and projects the demand to grow at a CAGR of 3% to 5% during the forecast period of 2019 to 2025.
The report is titled “Industrial Robotics Market: By Configuration (Mounted, Mobile, Cobots); By Category (Articulated Robots, SCARA Robots, Cylindrical Robots, Cartesian or Gantry or Rectangular Arm Robots, Delta or Parallel Robots, Polar or Spherical Robots, Dual arm, Redundant, Human-assist robots , Firefighting robots); By Payload (0-20 KG, 20-80 KG, 80-300 KG, 300-1000 KG, 1000 – 3000 KG); By Components (Manipulator, Sensor Devices, Robot Tooling, RCU – Robot Controller Unit); By application (Welding, Material handling, Dispensing); By end user (Automotive, Food & beverages, Packaging, Pharmaceuticals); By Geography – Forecast (2019-2025)”. This report covers Industrial Robotics Market Size by category and applications, Industrial Robotics Market share by top 5 companies and also the market share by start-ups during the forecast period”
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Global Industrial Robotics Market: Leading Segment
APAC contributes to the largest share for the industrial robotics market owing to the increasing investments made by companies in smart factories and smart workplace. And it’s quite evident when APAC boasts of maximum manufacturing of automobiles that includes autonomous trucks and self-driven cars. APAC had a regional share of 40% to 50% in 2018, which is equivalent to the rest of the world’s total contribution. The major contribution in the APAC’s share is by China, Japan, and Korea. In 2017, Japan’s robot sales had increased by 18% to 45,566 units, and Korea’s installation peaked to 41,373 units, according to the International Federation of Robotics. The automotive sector application is continually driving growth for the industrial robotics market. With this sustained growth, the application CAGR is projected to grow at 2% to 5% through to 2025. This phenomenal growth is due to the reduction in customs duties and the evolution of robotics and artificial intelligence in industries.
Global Industrial Robotics Market: Market Trends
• The Era of Cloud Robotics
The cloud robotics concept is in the market since more than 8 years, but ever since Google and Amazon have announced their new cloud-based development services of robot applications and deployment application, cloud robotics has gauged attention in the industrial robotics market.
• Robot-as-a-Service Trends in 2019
Robot as a Service (RaaS) trend has already gained prominence in many companies. RaaS has also been adopted by a few small and medium-size companies for robotic automation. The functionalities are highly specialized and focused since the purpose of it is to be served in companies only.
• Drones for Industrial Applications
With the recent technological advancement, there is a significant evolution of aviation known as drones. Drones are rapidly becoming accessible in commercial, government, and industrial sectors as they enable capturing a 3D view. Some of the new drones that are commonly used in industrial sectors are known as Draganfly X6 &Airobotics UAV.
• Logistics and Supply Chain and Industrial Robots Continues to Move Together
Many companies like Amazon and KFC have already started using robots for their logistics and supply chain in their organizations. Today’s modern distribution centers and warehouse cannot function without industrial robots.
Global Industrial Robotics Market: Recent Developments
Some of the key companies identified in the report that are currently holding majority shares in the global industrial robotics market are Fanuc Corp, ABB ltd, Yaskawa electric Corp, Adept technology, Apex automation & robotics, Ellison, Kawasaki, Fujikosi, and Mitsubishi Electric Corp.
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