Industrial Robotics Market to Grow USD 63340 Million by 2028 with a CAGR of 7.4%
BANGALORE, India , Jan. 12, 2023 /PRNewswire/ -- The Global Industrial Robotics Market is Segmented by Type (Parallel Robots, Articulated Robots, SCARA Robots, Cylindrical Robots, Cartesian Robots</
BANGALORE, India , Jan. 12, 2023 /PRNewswire/ -- The Global Industrial Robotics Market is Segmented by Type (Parallel Robots, Articulated Robots, SCARA Robots, Cylindrical Robots, Cartesian Robots), by Application (Electrical and Electronics, AutomotiveChemical, Rubber and Plastic, Metal and Machinery, Food, Beverages and Pharmaceuticals): Opportunity Analysis and Industry Forecast, 2023–2028. It is published in Valuates Reports under the Robotics Category.
Due to the COVID-19 pandemic, the global Industrial Robotics market size is estimated to be worth USD 41270 million in 2022 and is forecast to be a readjusted size of USD 63340 million by 2028 with a CAGR of 7.4% during the review period.
Major factors driving the growth of the Industrial Robotics Market:
Industrial robots assist in boosting productivity by cutting costs and creating high-quality goods. The majority of industrial robots are made up of a controller, sensors, robotic manipulator, drive, and end-effector.
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TRENDS INFLUENCING THE GROWTH OF THE INDUSTRIAL ROBOTICS MARKET:
By providing characteristics like trainability, memory, dexterity, and sensing, the introduction of revolutionary industrial collaborative robots is bridging the gap between machines and humans. Innovative technologies like collaborative robots are rapidly being used across a variety of industries to improve precision and quality of work due to rising consumer demand for higher-quality products and increasing industrial productivity. This factor is expected to drive the growth of the Industrial robotics market.
Many manufacturing tasks are more expensive to handle by a person than by a robot. Additionally, this may free up personnel so they can apply their knowledge and abilities in fields like engineering, programming, and maintenance. Industrial robots can offer improved production quality and more precise and dependable operations when used in conjunction with other technology like the industrial internet of things (IIoT) or 3D printing robots. Reduced cycle times and real-time monitoring to enhance preventative maintenance procedures are further advantages. This factor is expected to further increase the Industrial robotics market size.
Because robots are suitable for simple and demanding working environments, they are used and introduced primarily in assembly, screw tightening, electronic parts insert, transfer, and inspection processes in the electrical and electronic industry. This helps to alleviate the labor shortage, increase productivity, and maintain quality. Robots can complete the same task faster than people by using heavy sprayers to clean residue from the walls and floors. Chemical plants adhere to OSHA safety regulations by utilizing robots to clean dangerous tanks. Additionally, since operators are still needed for the robots, people do not lose their jobs. These trends will further drive the growth of the Industrial robotics market size.
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INDUSTRIAL ROBOTICS MARKET SHARE
Between 2018 and 2023, APAC is anticipated to hold the highest geographic share of the industrial robotics market. The cheap cost of production is the primary factor driving the industrial robots market, allowing numerous manufacturers to locate their production facilities in APAC, particularly in nations like China, Korea, and India. Another significant trend that firms have taken is automating plant capacities, which has increased demand for industrial robots in the APAC area.
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EPSON Robots (Japan)
Omron Adept Technologies (US)
DENSO Robotics (Japan)
OTC Daihen (Japan)
Mitsubishi Electric (Japan)
Universal Robots (Denmark)
Hyundai Robotics (Korea)
Estun Automation (China)
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