Industrial robot demand is anticipated to expand at a rate of 12%, reaching US$55.66 billion in 2032.
A recently published study by FMI expects the global industrial robots market to augment at a 12% CAGR from 2022 to 2032. By the end of the said assessment period, a valuation of US$ 55.66 Billion is expected for the market. Increasing adaption of industrial robots in end user industries such as automotive, food & beverage and pharmaceutical industry is positively influencing the growth of the market.
The sector expanded significantly between 2017 and 2021, recording a 9% value CAGR and reaching a peak of US$ 16 billion. Although the COVID-19 outbreak had an impact on the development of industrial robots, the demand for these devices is being driven by the need for automation. Industrial robots are also increasing productivity rates at manufacturing facilities while saving time. The dependence on industrial robots is the result of this.
The use of IoT devices, AI, and ML is accelerating the development of these technologies. Future industrial robot availability is predicted to increase, making installation simpler. Most industrial robots are also capable of handling many jobs at once. As a result, they are acquiring a lot of momentum as a result.
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Key Takeaways from the Market Study
Market Competition
Key players in the industrial robot market are Denso Corporation, Kawasaki Heavy Industries, Brenton, LLC, Krones AG, Mitsubishi Electric Corporation, YASKAWA Electric Corporation, KUKA AG, Fanuc Corporation and ABB Limited.
More Insights Available
FMI, in its new offering, presents an unbiased analysis of the global industrial robots market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of Product Type (Articulated Robots, SCARA Robots, Parallel Robots, Cartesian Robots, Cylindrical Robots, Others), by End Use (Automotive, Electrical & Electronics, Metals & Machinery, Chemicals, Plastic & Rubber, Food & Beverages, Healthcare, Construction, Others), by Application (Material Handling, Welding & Soldering, Assembly & Disassembly, Painting & Dispensing, Others), by technology (Automatic, Semi- Automatic, Manual) across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
About the Industrial Automation Domain at Future Market Insights
The industrial automation domain team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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Key Segments Profiled in the Industrial Robots Industry Survey
Industrial Robots by Product Type:
Industrial Robots by End Use:
Industrial Robots by Applications:
Industrial Robots by Technology:
Region:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Future Market Insights
Industrial Robots Market review , outlook , forecast , demand , size , share , keytrends , analysis , Research , overview
Jun 01, 2023
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