Global Industrial Robotics Market is projected to be valued $XX Billion by 2025; with a CAGR of XX% from 2017 to 2025. An industrial robotic system is intended to perform a variety of programmed tasks such as move materials or parts & tools from one place to another. These robots are extensively required in manufacturing and production unit for typical applications which include assembly, welding, painting, and materials handling, among others. Demand for these robots have increased across various industries such as, electricals & electronics, automotive, metals, rubber and plastics, and food & beverages, owing to its accuracy in performance. Moreover, in the chemical industry, these robots are demanded to perform duties that are dangerous or inapt for human workers.
Rise in demand for automation in various industries, evolving robotics & artificial intelligence (AI) industry, high usage of industrial robotics in the manufacturing industry, and reduction in custom duties are the major factors driving the growth of global industrial robotics market. However, high cost is acting as a restraint for the market. Growing demand for automation in non-conventional sectors, such as micro-electronics and growing innovations globally are some of the factors expected to provide growth opportunities for the market in the forecast period.
Type, industry vertical, function, and geography are the various classifications of the market covered in the report. By type the segmentations includes articulate, cartesian, SCARA, cylindrical, and other types. By industry vertical the market is segmented as chemical, rubber & plastics, machinery, metals, food & beverages, automotive, electrical & electronics, precision & optics, and other industry verticals. By function, the market is segmented into assembling & disassembling, painting & dispensing, soldering & welding, materials handling, milling, cutting & processing, and other functions.
North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the geographical classifications of the market. The U.S., Canada, and Mexico are covered under the North America market whereas Europe consist of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Major key players operating in the market include Kawasaki Heavy Industrials Ltd., Denso Corporation, Epson America, Inc., KUKA Robotics Corporation Mitsubishi Electric Corporation, Panasonic Corporation, Yaskawa Electric Corporation, Diahen Corporation, Universal Robotics, , and Fanuc Ltd., among others.
The key takeaways from the report
Scope of Global Industrial Robotics Market
By Industry Vertical