Global Industrial Robotics Market to Exceed US$69.1 Million by the End of 2027, According to Coherent Market Insights

SEATTLE, February 8, 2022 /PRNewswire/ — According to Consistent market informationThe Global industrial robotics market was rated at US$49.0 million in 2019 and is expected to reach a value of US$69.1 million by 2027 to a 6.4% CAGR between 2020 and 2027.

When we talk about industrial robots, it is obvious that one will get the idea that it is mainly about manufacturing operations. But, there are also other parts of this great industry. There are automated control panels, which are controlled by industrial robots. Some of the industries that use industrial robots are oil refineries, chemical plants, packaging and filling companies, air conditioning, refineries, heavy equipment, fencing, etc.

Other parts of this industry that use industrial automation are computer, medical, electrical, electronic, mechanical engineering and even some computer industries. The most important part of any industry is undoubtedly the manufacturing section which deals with the production of various goods like cars, appliances, and gadgets. In all these industries, the production of a large number of articles is essential. So, the only way out for these industries is to employ the use of industrial robots which will enable them to be much more productive and efficient in their tasks.

Under the current scenario, the industrial robots have been programmed in such a way that they can perform all kinds of programmed tasks without getting tired. Scheduled tasks are generally jobs that can be scheduled to perform certain tasks repeatedly or can be scheduled to perform certain tasks flexibly. In fact, there are different types of industrial robots on the market that can be programmed in this way.

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Market factors:

The launch of fully autonomous 3D mobile scanning integration technologies is expected to propel the growth of the global market industrial robotics market. For example, in August 2020FARO Technologies, Inc. has released FARO Trek, a fully self-contained mobile 3D scanning integration designed in conjunction with the MassachusettsBoston-based robotics company Boston Dynamics.

Moreover, the increasing adoption of AI robotics in the industrial sector is also expected to contribute to the growth of the market. For example, in April 2020UST Global, a multinational digital technology and transformation provider, has partnered with GreyOrange, an AI robotics provider, to leverage AI and machine learning to optimize fulfillment operations.

Market opportunities

The increase in funding is expected to provide lucrative growth opportunities for players in the global industrial robotics market. For example, in February 2021Symbio Robotics, a US-based industrial robotics startup, raised $30 million in financing.

Additionally, increasing investment in packaging robot R&D is also expected to provide lucrative growth opportunities for players in the global industrial robotics market. For example, in November 2019Amazon announced plans to build a new state-of-the-art Amazon Robotics Innovation Center and invest more than $40 million in the new site.

Market trends

Major players operating in the global industrial robotics market are focusing on new product launches to expand their product portfolio. In March 2020Kindred announced the unveiling of the Kindred SORT 3.7, a part picker robot with 27 additional eight compartments, which supports a 42% increase in the number of items it can sort in distribution centers and warehouses of e-commerce, at MODEX 2020 in AtlantaWE

The Covid-19 pandemic has had a significant impact on the integration of robotics in the food and beverage sector. For example, according to a survey conducted by Deloitte and the Manufacturers Alliance for Productivity and Innovation, in August 2020, 38% of manufacturers (in the survey) had discontinued their investments in smart factories. However, 62% of manufacturers expressed interest in investing more in digital technologies. Such a scenario is expected to provide lucrative growth opportunities for market players.

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Competitive Landscape:

Key players operating in the global industrial robotics market include, Daihen Corporation, Denso Corporation, Epson AmericaInc., FANUC Ltd., KUKA Robotics Corporation, Kawasaki Heavy Industries Ltd., Mitsubishi Electric Corporation, Nachi Robotic Systems, Inc., Panasonic Corporation, Universal Robots and Yaskawa Motoman Robotics.

Market segmentation :

By type

  • Cartesian
  • Speak clearly
  • Cylindrical
  • Others

By industry

  • Electrical and Electronic
  • Automotive
  • Machinery
  • Chemicals, rubber and plastics
  • Food and drinks
  • Metals
  • Precision & Optics
  • Others

By function

  • Material handling
  • Milling, cutting and processing
  • Welding and Welding
  • Painting and distribution
  • Assembly and disassembly
  • Others

By region:

  • North America
  • Europe
    • By country:
      • UK
      • Germany
      • Italy
      • France
      • Spain
      • Russia
      • Rest of Europe
  • Asia Pacific
    • By country:
      • China
      • India
      • Japan
      • ASEAN
      • Australia
      • South Korea
      • Rest of Asia Pacific
  • Latin America
    • By country:
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
  • Middle East & Africa
    • By country:
      • GCC countries
      • Israel
      • South Africa
      • Rest of Middle East & Africa

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