Industrial Robotics Market Growth, Size, Share, Trends, Key Players Analysis, and Forecast by 2030

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.

Industrial Robotics Market Analysis

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 Market Overview

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.

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Industrial Robotics Market: Strategic Insights

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Industrial Robotics Market Drivers and Opportunities

Evolution of the Industry 4.0 Concept to Favor the Market

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

Integration of Artificial Intelligence Technology in Robotics

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.

Industrial Robotics Market Report Segmentation Analysis

Key segments that contributed to the derivation of the industrial robotics market analysis are type, function, and industry.

• Based on type, the industrial robotics market is divided into articulated, cartesian, SCARA, collaborative, parallel, and others. The articulated segment held a larger market share in 2022.
• By function, the market is segmented into soldering and welding, material handling, assembling and disassembling, painting and dispensing, milling, and cutting and processing. The material handling segment held a larger market share in 2022.
• On the basis of industry, the market is divided into automotive, medical & pharmaceuticals, electrical & electronics, rubber & plastics, metal & machinery, and food & agriculture. The food & agriculture segment held a larger market share in 2022.

Industrial Robotics Market Share Analysis by Geography

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.

Industrial Robotics Market Regional Insights

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.

Industrial Robotics Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

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:

1. ABB Ltd
2. Yaskawa Electric Corporation
3. Nachi-Fujikoshi Corp
4. Fuji Robotics
5. KUKA AG
6. Universal Robotics AS

Disclaimer: The companies listed above are not ranked in any particular order.

Industrial Robotics Market News and Recent Developments

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:

• ABB Ltd reaffirmed its commitment to one of its most important client markets, the US, by beginning construction on expanding its current robotics headquarters and production plant in Auburn Hills, Michigan. The project will be completed by November 2023 and is expected to cost US$ 20 million. The expansion will create 72 new highly skilled jobs in the area, backed by a US$ 450,000 performance-based grant from the Michigan Business Development Program. (Source: ABB Ltd, Company Website, March 2023)

Industrial Robotics Market Report Coverage and Deliverables

The “Industrial Robotics Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering below areas:

• Industrial robotics market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Industrial robotics market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Industrial robotics market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the industrial robotics market
• Detailed company profiles