Industrial Robotics Market : Overview Report by 2020, Covid-19 Analysis, Future Plans and Industry Growth with High CAGR by Forecast 2026

Industrial Robotics Market

Latest added Industrial Robotics Market research study by MarketDigits offers detailed product outlook and elaborates market review till 2026. The market Study is segmented by key regions that is accelerating the marketization. At present, the market is sharping its presence and some of the key players in the study are Comau S.P.A., Epson Robot, Fanuc Corporation, Kawasaki Robotics, Yaskawa Electric Corporation. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.

This report studies the Industrial Robotics Market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the Industrial Robotics Market by companies, region, type and end-use industry.

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Scroll down 100s of data Tables, charts and graphs spread through Pages and in-depth Table of Content on ”Global Industrial Robotics Market By Type (Articulated, Cartesian, SCARA, Cylindrical and Others), Industry (Automotive Industry, Chemical, Food & beverage, Heavy Engineering, Metal and Mining, Semiconductor and Electronics, and Others) and Geography – Global Forecast To 2026″. Early buyers will get 10% customization on study.

To Avail deep insights of Industrial Robotics Market Size, competition landscape is provided i.e. Revenue Analysis (M $US) by Company (2018-2020), Segment Revenue Market Share (%) by Players (2018-2020) and further a qualitative analysis is made towards market concentration rate, product/service differences, new entrants and the technological trends in future.

Unlock new opportunities in Wearable Industrial Robotics Market; the latest release from MarketDigits highlights the key market trends significant to the growth prospects, Let us know if any specific players or list of players needs to consider to gain better insights.

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Industrial Robotics Market – Key Research Findings

  1. The global industrial robotics market size in 2018 was ~US$ 17 Bn.
  2. The industrial robotics market is expected to grow at a CAGR of ~17% during the forecast period of 2019-2029.
  3. Increasing demand for articulated robots for applications such as assembly, welding, and packaging has been recently driving the sales of industrial robots.
  4. East Asia is likely to account for half of the revenue shares in the industrial robotics industry by the end of 2029.
    • East Asia, attributing to the rising automotive production will continue to be a prominent regional market for industrial robotic manufacturers.
  5. The automotive industry is expected to remain prominent end-use industry to invest in, for industrial robotics market players.
    • The automotive industry has witnessed significant growth over the recent past.
    • Noteworthy application potential of industrial robotics has been identified in handling operations, welding, and assembly/disassembly.

Increasing Labor Costs Creating Demand for Industry Automation and Industrial Robots

The cost of labor is rising at a significant rate even in traditional LCC (Low Cost Carrier) countries such as, India and China. Owing to the increasing labor cost around the world, the payback for industrial robots and industry automation is gaining more traction in the market.

Furthermore, countries such as Germany, South Korea, Japan, etc., are also among the top 5 in the industrial robotics market owing to the significantly high labor costs for skilled personnel in the industry. The consistently increasing labor costs and decreasing prices of industrial robots are expected to drive the market over the forecast period.

Increasing Product Innovations in the Industrial Robotics Market

In an intense competitive environment, manufacturers are focusing on distinguished product offerings to stand out from other manufacturers. Manufacturers are continuously investing in research and development activities to develop robots for new application areas in several industries. They are also focusing on continuously developing new products for gaining a competitive advantage in the market.

  • For instance, in April 2018, FANUC launched new robots with AI Bin Picking FIELD application, which is used to identify suitable picking order with a greater success rate.
  • In April 2018, Kuka launched new KMR iiwa mobile robot for electronics and automotive industry.
  • In September 2018, ABB launched a new ceiling mounted SCARA robot with improved flexibility.

Market Research Methodology – Perfected through Years of Diligence

A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.

Decreasing Prices of Industrial Robots

The industrial robotics market is growing at a significant rate globally. Owing to the significant demand and growing competition in the market, the cost of industrial robots is decreasing at a steady pace (~50% drop in average robotics cost since 1990). Manufacturers are focusing on decreeing the cost of production by increasing the production in low-cost regions.

By doing so, manufacturers are offering industrial robots at the lowest possible price to increase their sales in the market. Moreover, due to the decrease in prices, tier 2 and tier 3 industry manufactures are also inclined towards the automation and installation of industrial robotics in their industries.

Industrial Robotics Market Structure Analysis

  • The global industrial robotics market represents a fairly consolidated competition landscape, where a majority of key players maintain their strategic focus on the development of solid distribution partnerships and joint ventures, targeting a firmer global footprint.
  • The industrial robotics market has been relatively moderate in size, which remains a key factor for its dynamic competitive nature.
  • Prominent manufacturers of industrial robotics are currently prioritizing R&D and new product launches in North America, Europe, and East Asia.
  • Portfolio extension is also identified to remain one of the key developmental strategies adopted by manufacturers of industrial robotics.
  • For a stronger foothold in target markets, industrial robotic manufacturers will continue to rely on inorganic strategies, such as mergers and acquisitions.
  • Deeper understanding of the market trends and preferential shifts of end-use segments across various regions are likely to create a bottleneck for prominent players, looking forward to untapped opportunities in the industrial robotics market.

Towards the ‘Maturing’ Future of Manufacturing

The surging requirement of producing maximum units within limited timeframe is influencing manufacturers to bank on industrial robots such as, collaborative robots or cobots. Industrial robots exhibit the caliber to operate with mature manufacturing arrangements and operators, dismissing the need for further structural or infrastructural expenses. Industrial runners are incorporating industrial robots amongst the technicians and facilities owing to their small manufacturing footprint, eliminating the need for a separate chamber.

Automakers are implementing laser cutting operation and laser welding application at the plants with the assistance of industrial robots, on grounds of better positioning accuracy and higher speed. Robotic lasers adjust the beam focal length and working angle, resulting in faster laser welding at two laser stitches per second. Further, with the integration of sensor technology into industrial robots, industrial workers can detect moisture, or gas leakages in electric drive systems.

However, the number of skilled workforce is not able to equate the rising adoption of industrial robotics in automation bracket. Industry owners leveraging industrial robotics are observing concerns regarding personnel safety. Some robots, including fenced robots, can be dangerous if handled improperly due to human error, control error, unauthorized access, and mechanical failure.

Presence of skilled and educated labor can mitigate these mishaps. Furthermore, the integrators are performing risk evaluation sessions during the initial stage of design and distributing as a document throughout the product life.

Space-Age Solutions to Define Stakeholders’ Tactics

The global industrial robotics market is witnessing cut-throat competition with leading manufacturers, including Kuka AG, ABB Ltd., among others, accounting for about half of the total market revenue.

Robot makers are manufacturing end-of-arm-tools (EOAT) and end effectors, such as grippers, for handling large or delicate components. Key market participants are leveraging AI bin-picking technology for faster identification of suitable objects to be picked from a bin. Manufacturers are coming up with pepped-up robots for painting large work parts, such as automobile bodies, bumpers, or other construction equipment. In addition, major market contributors are designing hardware modules to access industrial robots via a machine controller.

Mature and emerging businesses are signing up for robots-as-a-service (RaaS) by leasing robotic devices and subscribing cloud-based services, thereby, initial investment and maintenance expenses. Further, manufacturers are turning to OLP (Offline Programming) for quicker deployment at a lower initial cost.

Market players are entering into mutually beneficial partnerships with their rivals for advanced automation and robotics incorporating human-robot interface for collaborative robots. Furthermore, market leaders and followers are cutting capital costs to penetrate into low and middle-income countries (LMIC), including India, and Vietnam, and witnessing the arrival of new markets.

How Growth Will Unfold

Digital technologies, including to Internet of Things (IoT), among others, as well as increasing production of regulatory-approved automobiles in countries across the globe are set to be the gold mines of growth for industrial robotics market worldwide. The prominence of the Fourth Industrial Revolution or Industry 4.0 is enhancing the human-machine interaction with cutting-edge technologies for instance, artificial intelligence, blockchain, and industrial internet of things (IIoT), to drive predictive maintenance, inventory planning, and autonomous decision-making.

Industrial robots are becoming commonplace in automobile bracket, with developed regions, such as Japan, and Europe, exhibiting vehicle production at a rate of about 5%. By next year, more than 3 million industrial robots are estimated to be employed globally, exceeding twice of that being used a couple of years ago. Furthermore, innovators have designed industrial robots that mimic the movements of dogs, cats, and humans with great accuracy.

The Industrial Robotics market research report makes an organization armed with data and information generated by sound research methods. This market analysis helps to get up to date about various segments that are relied upon to observe the rapid business development amid the estimate forecast frame. This market research report offers an in-depth overview of product specification, technology, product type and production analysis considering major factors such as revenue, cost & gross margin. Industrial Robotics market report plays very essential role when it is about achieving an incredible growth in the business.

Industrial Robotics Market Reports – Table of Contents

  1. Preface

1.1. Market Definition and Scope

1.2. Market Segmentation

1.3. Key Research Objectives

1.4. Research Highlights

  1. Assumptions and Research Methodology
  2. Executive Summary: Global Industrial Robotics Market
  3. Market Overview

4.1. Introduction

4.2. Overview

4.3. Market Dynamics

4.4. Porter’s Five Force Analysis

  1. Key Insights

5.1. Technological Advancements

5.2. Pricing Analysis

5.3. Recent Developments

  1. Global Industrial Robotics Market Analysis and Forecast, By Product
  2. Global Industrial Robotics Market Analysis and Forecast, By Detector
  3. Global Industrial Robotics Market Analysis and Forecast, By Technology
  4. Global Industrial Robotics Market Analysis and Forecast, By Application
  5. Global Industrial Robotics Market Analysis and Forecast, By End-user
  6. Global Industrial Robotics Market Analysis and Forecast, By Region
  7. North America Industrial Robotics Market Analysis and Forecast
  8. Europe Industrial Robotics Market Analysis and Forecast
  9. Asia Pacific Industrial Robotics Market Analysis and Forecast
  10. Latin America Industrial Robotics Market Analysis and Forecast
  11. Middle East & Africa Industrial Robotics Market Analysis and Forecast
  12. Competitive Landscape

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