According to a new report published by Introspective Market Research, titled, ?Industrial Robotics Market by Type, Application, Function: Global Opportunity Analysis and Industry Forecast, 2024?2032,?
global Industrial Robotics market size was valued at $21.50 billion in 2023, and is projected to reach $68.28 billion by 2032, registering a CAGR of 13.7% from 2024 to 2032.
Industrial robots, originally utilized for material handling at General Motors, have evolved significantly to become indispensable assets across multiple sectors like automotive, electronics, and aerospace. Their development has been propelled by advancements in machine learning, computer vision, and materials science. Equipped with various sensors and mechanical components, these programmable and reprogrammable machines perform tasks like assembly, welding, painting, and quality control with precision and efficiency. Industrial robotics aims to enhance productivity, reduce human labor, improve product quality, and streamline manufacturing processes.
The industrial robotics market has experienced substantial growth, transforming industries by optimizing manufacturing processes and operational efficiency. Technological advancements, including sensor refinement, AI-driven algorithms, and enhanced machine vision systems, have expanded the capabilities of industrial robots. Additionally, collaborative robots have emerged, promoting safer interaction between humans and machines and broadening the scope of applications across automotive, electronics, healthcare, and logistics sectors.
The integration of Artificial Intelligence (AI) and Machine Learning (ML) into industrial robotics has revolutionized the capabilities of these machines. Traditionally, industrial robots were programmed with explicit instructions for specific tasks. However, with AI and ML, robots can now learn from data, enabling them to recognize patterns and adapt their behavior accordingly. This shift reduces the need for explicit programming, making robots more flexible and adaptable to various tasks and environments. In dynamic industrial settings where lighting conditions and object positions may vary, AI-powered robots equipped with sensors can perceive their surroundings and adjust their actions in real time. This enhanced perception and adaptability enable robots to operate effectively in diverse conditions, improving overall efficiency and productivity in manufacturing and production environments.
Moreover, AI and ML empower robots to make intelligent decisions based on real-time data analysis. By leveraging information from sensors, cameras, and other sources, robots can determine the best course of action, even in complex scenarios. This capability allows robots to handle more intricate tasks that involve decision-making, fine-tuned movements, and interactions with humans or other machines. As a result, AI-enabled industrial robots are increasingly capable of performing tasks that were once deemed too complex or delicate for automation, further expanding their potential applications across industries such as automotive, electronics, healthcare, and logistics.
Global Industrial Robotics Market, Segmentation
The Industrial Robotics market is segmented on the basis of packaging type, application, and region.
Type:
Articulated robots have emerged as the dominant force in the global industrial robotics market, commanding a significant share due to their unparalleled versatility and adaptability across various manufacturing sectors. These robots, characterized by their multiple joints resembling a human arm, offer a wide range of motion, enabling them to perform complex tasks with precision and efficiency. Their flexibility makes them ideal for applications such as assembly, material handling, welding, painting, and packaging, among others, catering to the diverse needs of industries ranging from automotive and electronics to pharmaceuticals and food production. Advancements in robotic technology have led to improvements in accuracy, speed, and payload capacity, enhancing the overall performance of articulated robots and expanding their applicability in high-demand industrial settings. Additionally, the growing trend towards automation and Industry 4.0 initiatives has fueled the demand for flexible and intelligent robotic solutions, further boosting the adoption of articulated robots.
Application:
In the landscape of industrial robotics applications, the automotive sector emerges as the dominant force, wielding significant influence over the market due to its extensive reliance on automation for manufacturing processes. Within automotive manufacturing, robots play a pivotal role in various stages, including assembly, welding, painting, material handling, and quality control. This widespread utilization stems from the sector's high-volume production requirements, stringent quality standards, and the need for precision and efficiency.
The automotive sector's scale of production necessitates efficient and cost-effective manufacturing solutions, driving the adoption of robotics to streamline processes and enhance productivity. Additionally, the industry's continuous pursuit of innovation and optimization to meet evolving consumer demands and regulatory standards fuels the demand for advanced robotic technologies. Furthermore, the rise of electric vehicles (EVs), autonomous vehicles, and lightweight materials introduces new complexities to manufacturing processes, further driving the need for robotics to address these challenges effectively.
Region:
The North American industrial robotics market stands out for its strong focus on automation across key sectors such as automotive, electronics, and manufacturing, driven by the technological prowess of countries like the United States and Canada. Collaborative robots have gained popularity due to their versatility and safety features, enabling seamless interaction with human workers. Industrial robots, known for their precision and speed in executing repetitive tasks, bolster efficiency and productivity, particularly in mass production scenarios. North America's leading position in innovation and research, supported by renowned universities and a robust entrepreneurial culture, ensures continuous advancements across various fields. With diverse economies spanning manufacturing, technology, finance, agriculture, and entertainment, the region benefits from economic resilience and sustained growth.
Key Players in the Global Industrial Robotics Market
Some of the leading Industrial Robotics market players are
- ABB(Switzerland)
- Comau (Italy)
- Denso Robotics (US)
- Fanuc (Japan)
- Kuka (Germany)
- Mitsubishi (Japan)
- Omron (Japan)
- Staubli (Switzerland)
- Universal Robots (Denmark)
- Yaskawa Electric Corporation (Japan)
- Epson (US)
- Nachi-Fujikoshi (Japan)
- Adept Technology (US)
- TM Robotics (UK)
- Siasun (China)
- EFORT Robot (China)
- Hiwin (Taiwan)
- Robotiq (Canada)
- Aethon (US)
- Grey Orange (INDIA)
- Agility Robotics (US)
- Boston Dynamics (US)
- Anybots (US) and Other Major Players.
Key Industry Developments
- In May 2023, at the Automate 2023 event, FANUC CORPORATION America unveiled two new collaborative robots with enhanced payload capacities. These additions to the CRX and CR cobot lines featured expanded payload capabilities ranging from 4 to 50kg. Demonstrations highlighted the CRX-25iA cobot, capable of handling up to 30 kg, and the CR-35iB cobot, boasting a hefty 50 kg payload capacity. FANUC emphasized the reliability, flexibility, and maintenance-free operation of their CRX cobots, while spotlighting the industry-leading strength and compact footprint of the CR-35iB cobot.
- In May 2023, Yaskawa Electric Corporation Electric Corporation forged a capital and business alliance with Oishii Farm Corporation, a US-based startup specializing in strawberry cultivation. This strategic partnership aimed to position Yaskawa Electric Corporation as a global leader in agricultural and food automation by equipping Oishii with automation systems based on Yaskawa Electric Corporation's "i?-Mechatronics" solution concept. Together, they aspired to contribute to a sustainable society by ensuring a stable food supply and realizing fully automated strawberry production.
Key Findings of the Study
- The global industrial robotics market, valued at $21.50 billion in 2023, is projected to reach $68.28 billion by 2032, with a CAGR of 13.7% from 2024 to 2032, showcasing significant growth potential over the forecast period.
- Articulated robots dominate the market due to their versatility and adaptability across various manufacturing sectors, offering precise and efficient performance in tasks ranging from assembly to packaging.
- The automotive sector emerges as a major application area for industrial robotics, leveraging automation for various stages of manufacturing such as assembly, welding, painting, and quality control, driven by high-volume production requirements and the need for precision.
- North America leads the industrial robotics market, particularly in sectors like automotive, electronics, and manufacturing, benefiting from technological advancements and a culture of innovation, with collaborative robots gaining traction for their versatility and safety features.
- Integration of Artificial Intelligence (AI) and Machine Learning (ML) into industrial robotics revolutionizes their capabilities, enabling robots to learn from data, make intelligent decisions, and operate effectively in dynamic environments, thereby enhancing overall efficiency and productivity in manufacturing processes.
