Industrial robotics is a rapidly growing market that is set to revolutionize the manufacturing and production sectors. According to RationalStat’s market report, the global industrial robotics market is currently valued at approximately US$17.7 billion in 2023 and is projected to experience a significant CAGR of 12.8% from 2023 to 2030.
Industrial robots are programmable mechanical devices designed to carry out tasks with precision, accuracy, and repeatability in industrial settings. These robots are revolutionizing the manufacturing and production processes by automating repetitive, dangerous, and precise tasks that were previously performed by humans. This automation is driven by the pursuit of increased operational efficiency and cost-effectiveness.
With rising labor costs in many regions, industrial robots are becoming an attractive alternative. They can work around the clock without fatigue or the need for benefits, reducing labor expenses. Additionally, industrial robots can perform tasks with precision and speed, minimizing human error and increasing productivity.
The global industrial robotics market has been analyzed based on various market segments, including drive system, type, application, end user, and geography/regions. The report provides market size data for the historical period of 2019-2022 and the forecast period of 2023-2030. It covers market intelligence, customer sentiments, pricing, cost structures, financial assessments, key developments, import-export data, and more.
FAQ
1. What are industrial robots?
Industrial robots are programmable mechanical devices designed to perform tasks with precision, accuracy, and repeatability in industrial settings.
2. What are the drivers of the industrial robotics market?
The primary drivers for the industrial robotics market are increased automation, operational efficiency, cost-effectiveness, and the need for precise and repetitive tasks.
3. How do industrial robots benefit the manufacturing sector?
Industrial robots automate repetitive, dangerous, and precise tasks, reducing the need for human labor and increasing productivity in the manufacturing sector.
4. Which region dominates the industrial robotics market?
North America is expected to dominate the industrial robotics market due to rising labor costs and increasing industrial automation in the region.
5. What are the leading companies in the global industrial robotics market?
Leading companies in the global industrial robotics market include ABB, Mitsubishi Electric Corporation, FANUC, NACHI-FUJIKOSHI CORP., YASKAWA ELECTRIC CORPORATION, KUKA AG, Universal Robots A/S, OMRON Corporation, DENSO, Kawasaki Heavy Industries, Ltd., Epson, COMAU, and Schneider Electric, among others.
Sources: RationalStat Global Industrial Robotics Market Report