Global industrial robotics market was valued at $ 41.2 billion in 2022 and is likely to reach $ 170.5 billion by 2032, registering a CAGR of 14.7% over the forecast period of 2023-2032.
The industrial robotics market is experiencing a period of robust expansion, driven by a confluence of factors that are reshaping manufacturing and automation processes across the globe. With the relentless pursuit of enhanced efficiency, improved quality, and reduced operational costs, industries are increasingly turning to robotic solutions to optimize their production lines.
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Companies:
- Panasonic Corporation
- Mitsubishi Electric Corporation
- KUKA AG
- Denso Corporation
- ABB
- Seiko Epson Corporation
- NACHI-FUJIKOSHI CORPORATION (NACHI ROBOTIC SYSTEMS, INC.)
- Yaskawa Electric Corporation
- Kawasaki Heavy Industries, Ltd.
- FANUC Corporation
- Daihen Corporation Co., Ltd.
- Universal Robots A/S
Key Market Trends:
The industrial robotics market is characterized by several prominent trends:
- Increasing Focus on Human-Robot Collaboration: The development and adoption of cobots signify a growing emphasis on robots working alongside humans to augment productivity and handle physically demanding or repetitive tasks.
- Integration of Advanced Technologies: The incorporation of AI, ML, advanced vision systems, and sophisticated sensors is leading to smarter, more autonomous, and versatile industrial robots capable of complex tasks like real-time defect detection and dynamic decision-making.
- Growing Demand for Flexible and Customizable Solutions: As manufacturing evolves, there is an increasing need for robotic solutions that can be easily reprogrammed and adapted for different processes. Modular robotics offers this flexibility, allowing manufacturers to adjust robotic systems to handle varied tasks.
- Retrofitting Existing Robots: Companies are increasingly retrofitting their existing robotic systems with more sophisticated vision systems and sensors to improve precision and enable them to perform more complex tasks.
- Expansion into New Sectors: While the automotive and electronics industries have been traditional strongholds for industrial robots, newer sectors like agriculture, food processing, pharmaceuticals, and healthcare are increasingly adopting robotic technology for automation in areas like food packaging, robotic surgery, and handling hazardous materials.
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