Global Industrial Robotics Market Size & Share Report – Ken Research

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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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Industrial Robotics Market

Unveiling the Power of Robotics and Automation to Revolutionize Industry: Ken Research

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This piece uncovers the global industrial robotics market's ongoing interest, as companies exhibit significant confidence in automation and allocate a substantial portion of their capital spending to it

                                                              Storyline

1. Automation Trends: Retail & Logistics Lead Investments
2. Balancing Automation: Routine vs. Complex Tasks
3. Advantages & Limitations of Automation
4. As per Ken Research, the pros & cons of the industry trends have to be kept in mind by the industry players before diving too deep in the water.

Companies across the industrial world are showing significant confidence in robotics and automation, with many of them allocating a substantial portion of their capital spending, approximately 25 percent, over the next five years towards automated systems. Industrial-company executives anticipate various advantages, including improved output quality, enhanced efficiency, and increased uptime. Despite the optimistic outlook, there are still apprehensions among some executives. In this piece, we uncover the ongoing interest in the global Industrial robotics market.

1. Retail and Consumer Goods Lead the Automation Charge, While Logistics and Fulfillment Embrace the Robotic Revolution!

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Among the industrial sectors surveyed, the biggest spender on automation over the next five years is poised to be retail and consumer goods, with 23 percent of respondents from that sector planning to spend more than $500 million. That compares with 15 percent in food and beverage and 8 percent in automotive. On the other hand logistics and fulfillment players, automation will represent 30 percent or more of their capital spending in the next five years—the highest share among industrial segments surveyed.

2. Navigating the Automation Frontier: Unraveling Routine Tasks while Pioneering Human-Driven Complexities

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Certain aspects of productive activity present themselves more readily to automation, with routine tasks being the most suitable candidates, some of which include picking, packing, sorting, movement from one point to another, and quality assurance, which have already undergone partial automation and are expected to receive substantial investment in the future. On the other hand, activities demanding significant human involvement, such as assembly, stamping, surface treatment, and welding, are less likely to be automated in the short to medium term.

3. Embracing the Machine Age: Unleashing the Power of Automation for Smarter, Safer, and Speedier Operations

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Automation offers several advantages where operations can be automated, including increased speed and higher production capacity, along with the ability to maintain high-quality standards. Additionally, companies can experience cost savings, improved operational uptime, and enhanced safety measures. However, it's important to note that automation may have limited positive impacts on environmental and sustainability factors. While automation can optimize processes and reduce waste in some areas, its overall influence on environmental aspects may not be as pronounced as other benefits.

                                                          Conclusion

The survey depicts the journey towards automation is highlighted as far from simple. As per ken Research, participants point out two primary hurdles to adoption - the capital costs associated with robots and a general lack of experience within companies regarding automation, cited by 71% and 61% of respondents, respectively. Surprisingly, low business confidence in technology leads to challenges related to conviction and funding.

Another interesting revelation is that respondents' expectations of increased production and reliability through automation are tempered by concerns that such gains could result in job loss and impact existing contracts. However, it's essential to clarify that automation typically leads to changes in workplace roles rather than outright redundancies.

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Industrial Robotics Market