What Is The Size Of Global Industrial Robotics Industry?
Global E-Bike Market is growing at a CAGR of ~% in 2017-2022 and is expected to reach USD ~ Bn by 2027.
The Global E-Bike Market is largely Factors such Rising penetration of the IoT and investments in robotics across regions have been major contributors to the market's growth. For instance, the “Made in China 2025” announcement aimed to broadly upgrade the Chinese industry by moving toward quality-focused and innovation-driven manufacturing. However, high cost of investment hinders the market growth. Furthermore, improvement in automation infrastructure is expected to offer lucrative opportunities for the industrial robotics market growth. Governments of various countries are taking initiatives to improve the automation sector by encouraging R&D in the industry alongside inviting investments.
Industry 4.0, the newest industrial revolution, has fueled the development of new technologies, like collaborative robots, AI-enabled robots, etc., and has enabled industries to use robots to streamline many processes, increase efficiency, and eliminate errors. Increased workplace safety and improved production capabilities have further driven industries to invest in robotic systems.
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Global Industrial Robotics Market segmentation by Robot type
The Global Industrial Robotics Market is segmented by type into Linear Robots, Articulate Robots, SCARA, Cylindrical Robots & Others. The Articulate robot type accounted for the largest share of market whereas the cylindrical segment is expected to witness growth at the highest CAGR during the forecast period.
Global Industrial Robotics Market Segmentation By End-User
The Global industrial Robotics Market is segmented by End-user type into Automotive Industry, Chemical Construction Industry, Construction Chemical, Food & Beverage Industry, Pharmaceutical Industry & Others. The Automotive Industry accounted for the major chunk of market share.
Global Industrial Robotics Market Segmentation By Region
The Global Industrial Robotics Market is segmented by region into Asia Pacific, Europe, Latin America, Middle East, North America Others. The Asia Pacific dominated the industrial robotics industry in 2022 and contributed toward a share of over 65%. The region is expected to dominate throughout the forecast period as well.
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Competition Scenario In Global Industrial Robotics Market
The Global Industrial Robotics market is a highly competitive and diverse industry with many major players operating in the region. Here are some of the leading catering companies in the global Industrial Robotics Market. Top players such as ABB Ltd, Yaskawa, Denso Corporation, Fanuc Corporation, Kuka AG market is largely driven by rising demand for automation.
What Is The Expected Future Outlook For The Industrial Robotics Market Across The Globe?
The Global E-Bike Market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2027, witnessing a CAGR of ~% during the forecast period 2022-2027. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Industrial Robotics Market is driven by rising penetration of the IoT and investments in robotics across regions. For instance, the “Made in China 2025” announcement aimed to broadly upgrade the Chinese industry by moving toward quality-focused and innovation-driven manufacturing.
Some of the major factors driving the market include rising demand for high-quality products (which need proper end-to-end visibility in the manufacturing process), the need for energy conservation, and rising focus on workplace safety. Incremental advancements in technology, coupled with a sustained increase in the development of manufacturing facilities, are also expected to drive this market, for instance, according to the Association for Advancing Automation (A3), which monitors industrial robot sales in North America. Companies ordered 44,196 robots in 2022, 11% more than in 2021.
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