The Industrial Robots & Automation Market Is Estimated To Record a CAGR of Around 4.41% During The Forecast Period
Evolve Business Intelligence has published a research report on the Global Industrial Robots & Automation Market, 2023–2033. The global Industrial Robots & Automation market is projected to exhibit a CAGR of around 4.41%during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Industrial Robots & Automation Market: ABB (Switzerland), YASKAWA ELECTRIC CORPORATION (Japan), MITSUBISHI ELECTRIC CORPORATION (JAPAN), NACHI-FUJIKOSHI CORP. (Japan), Comau SpA (Italy), KUKA AG (Germany), FANUC CORPORATION (Japan), DENSO CORPORATION (Japan), Kawasaki Heavy Industries, Ltd. (Japan) and Omron Corporation (Japan).
Market Highlights
The Global Industrial Robots & Automation market is projected to be valued at USD 607.2Billion by 2033, recording a CAGR of around 4.41% during the forecast period. The industrial robots and automation market refers to the dynamic sector focused on the development, deployment, and integration of robotic systems and automated technologies in various industries. These technologies include robotic arms, drones, autonomous vehicles, and software systems designed to streamline and optimize manufacturing and other industrial processes. Industrial robots and automation solutions are used to increase efficiency, reduce labor costs, enhance precision, and improve overall productivity. This market has experienced substantial growth due to advancements in artificial intelligence, machine learning, and sensor technologies, allowing robots to perform a wide range of tasks with increased autonomy. Key industries benefiting from this market include manufacturing, logistics, healthcare, agriculture, and construction, among others. The demand for automation in these sectors continues to expand, making the industrial robots and automation market a vital driver of innovation and economic growth worldwide.
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The COVID-19 pandemic had a significant impact on the industrial robots and automation market. Initially, it disrupted supply chains, causing delays in manufacturing and deployment of automation solutions. However, it also highlighted the importance of automation in maintaining operations during lockdowns and social distancing measures, leading to increased interest and investments in robotic systems. Industries such as healthcare and e-commerce saw a surge in demand for automation to cope with the crisis. On the flip side, industries like automotive and aerospace, which were heavily impacted by the pandemic, temporarily slowed down automation adoption due to financial constraints. As the global economy recovers, the market is expected to rebound and grow as industries prioritize automation to enhance resilience and efficiency in a post-pandemic world
Segmental Analysis
The global Industrial Robots & Automation market has been segmented based on robot type, Application and Industry
Based on the robot type, the market is segmented based on SCARA, articulated, cartesian/linear, cylindrical, parallel, and others. Due to its capacity to perform precise motions frequently, which is employed in applications such as material handling, assembly, and others, articulating robots hold the biggest market share for industrial robots. The market is expanding due to the use of articulated robots in the food and beverage, pharmaceutical, and automotive industries. SCARA and cylindrical robots are expected to grow greatly throughout the course of the projection period since they were designed to do tasks in difficult environments.
Based on the Application, the market has been divided into welding & soldering, pick & place, assembling, material handling, cutting & processing, and others. Due to demand from the food and beverage, pharmaceutical, and electrical and electronics industries, material handling is projected to advance during the projection period. The chemical and pharmaceutical industries depend heavily on material handling since some chemicals are concentrated and convey hazardous ingredients. Robots are routinely utilised in such circumstances to reduce accidents and preserve staff safety.
Based on Industry, the market has been divided into electrical & electronics, automotive, food & beverages, healthcare & pharmaceutical, metals & machinery, rubber & plastic, and others. The market for pharmaceuticals and healthcare is expected to grow quickly. Growth is anticipated to be fueled by the growing practise of collaborating humans and robots to carry out a range of medical activities. This entails assisting surgeons with procedures that are often less intrusive. For extremely complex procedures, these robots use strong 3DHD technology to give the operator the spatial references they want. Furthermore, as industrial robot deployments increase, speed and accuracy are crucial qualities. These robots can handle liquids, powder, and even viscous materials in testing facilities and manufacturing facilities.
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Regional Analysis
The Industrial Robots & Automation market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, &Africa. Asia Pacific dominates the Industrial Robots & Automation market due to several factors. During the projected period, the Asia Pacific region is anticipated to dominate the global market. Growing automation, especially in Japan, China, and India, is anticipated to propel the sector’s expansion. Additionally, as the population and average household income expand, so does the demand for goods for consumption and other items, leading to an expansion of the industry’s production capacity. Similar to this, there is an increasing need for customised vehicles and machinery, which calls for high accuracy and quick manufacturing capabilities. In order to meet demand, the use of robots in industrial applications is expanding, further boosting the global market share. The North America region has been witnessing remarkable growth in recent years. North America is expected to grow significantly as industry 4.0 and the emergence of smart factories push the global market and raise demand for specialised and compact robotic systems. Furthermore, producers see an early return on investment (ROI) due to the accelerated manufacturing process and improved production capacity.
Collaborative robots are being developed and adopted by manufacturers in Europe, where industrial operations are being upgraded at an unprecedented rate. This market is expected to increase significantly over the coming years. These robots are specifically designed to work with people, and they are furnished with cutting-edge sensors that enable them to identify and communicate with them. These robots are used for labor-intensive jobs.
