The industrial robotics market size is projected to reach US$ 30.47 billion by 2030 from US$ 14.86 billion in 2022. The market is expected to register a CAGR of 9.39% during 2022–2030. The rising demand for 5G technology and edge computing is likely to remain a key trends in the market.
The evolution of the Industry 4.0 Concept and the growing demand for collaborative robots for enhancing operational efficiency are driving the market. The market is anticipated to grow during the forecast period due to the growing demand for automation in the manufacturing, warehouse, and logistics industries. Moreover, the integration of artificial intelligence technology in robotics is creating lucrative opportunities for the market.
Industrial robotics can be defined as robotic arms equipped with sensors and controls that can execute a variety of functions and operations in the creation of industrial products. They are programmed to perform repetitive tasks in cycles. These robots drastically reduce the human elements involved in production while also increasing processing speed, quality, and production capacity. The most significant component of the robot is undoubtedly the arm, which is made up of joints and connections. The end-of-the-arm tool (EOAT) is the most critical component of the robotic arm. They undertake a variety of tasks, including marking, cutting, welding, drilling, painting, and cleaning.
Industry 4.0 refers to the current industrial revolution, which is being driven by advances in robotics, automation, and the Internet of Things (IoT). The rise of industrial lot and artificial intelligence is likely to have a profound impact on robotics. Industry 4.0 technology enables new maintenance strategies, autonomous robots, and collaborative robotics technologies. New maintenance strategies and artificial intelligence are anticipated to have a substantial impact on robots. Industrial robots and Industry 4.0 technologies have the potential to alter businesses in the next years by improving machine management and automating formerly manual tasks, which is projected to fuel growth in the industrial robotics market
AI is driving remarkable progress in the robotics and automation sector. As AI in robotics evolves and blooms, numerous industries are capitalizing on these cutting-edge technologies, such as implementing intelligently automated processes to fuel sophisticated data collection and analysis, allowing businesses, services, and manufacturers to make data-driven decisions, or implementing self-learning robots to facilitate work processes and tasks. The adoption of AI-based self-learning robots is expected to create opportunities in the market during the forecast period.
Key segments that contributed to the derivation of the industrial robotics market analysis are type, function, and industry.
The geographic scope of the industrial robotics market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The market in Europe is projected to expand during the forecast period due to the increasing demand for industrial robots. Industrial robot installations climbed 33% in 2021 compared to 2020. In 2021, industrial robot usage increased by 22% in the electronics industry, 57% in the automotive industry, and 29% in the metal and machinery business, compared to 2020. According to IFR, in January 2023, China, Japan, and South Korea were among the top five most advanced countries in terms of yearly industrial robot installations, with China's industrial robotics market experiencing the highest development.
The regional trends and factors influencing the Industrial Robotics Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Industrial Robotics Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 14.86 Billion |
| Market Size by 2030 | US$ 30.47 Billion |
| Global CAGR (2022 - 2030) | 9.39% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Industrial Robotics Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Industrial Robotics Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The industrial robotics market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the industrial robotics market are listed below:
The “Industrial Robotics Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering below areas:
The List of Companies - Industrial Robotics Market
The rising demand for 5G technology and edge computing to play a significant role in the global industrial robotics market in the coming years.
The key players holding majority shares in the global industrial robotics market are ABB Ltd, Yaskawa Electric Corporation, Nachi-Fujikoshi Corp, Fuji Robotics, KUKA AG, Universal Robotics AS, Honeybee Robotics, COMAU SPA, and Clearpath Robotics Inc.
The global industrial robotics market is expected to reach US$ 30.47 billion by 2030.
The global industrial robotics market is estimated to register a CAGR of 9.39% during the forecast period 2022–2030.
Asia Pacific dominated the industrial robotics market in 2022.
The evolution of the Industry 4.0 Concept and the growing demand for collaborative robots for enhancing operational efficiency are the major factors that propel the global industrial robotics market.