The study of the "Global Industrial Robotics Market" provides the market size information and market trends along with the factors and parameters impacting it in both short and long term. The study ensures a 360° view, bringing out the complete key insights of the industry
The Global Industrial Robotics Market is valued at USD 42.12 billion in 2016 and is expected to reach a value of USD 88.39 billion by the end of 2022, growing at a projected CAGR of 11.17% during the forecast period of 2017 - 2022.
Industrial robots are widely used in end-user industries for a variety of tasks like metals machining, assembling in electronics and automobile sector, manufacturing of vehicles and electronic devices in which complex tasks should be performed with a very high degree of precision; healthcare, chemicals and plastic, and rubber industry.
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The rapid rise of automation adoption rate across various industries, vigorous efforts for creative technical improvement for speed enhancement, development of collaborative space enabling advanced hardware and software to allow robots and humans to work in close proximity, surge in demand from SMEs in developing countries, financial benefits for the industries using these robots due to reduced overheads, surge in productivity, effective waste reduction and flexibility are factors fueling the growth of this market. Apart from the robot units market, software and hardware for these robots, robot services, education and training, business consulting.
are also demonstrating great promise and opportunities.
Some of the obstacles within these markets are higher purchase and maintenance costs of technology, performance uncertainty, which implies more risk, lack of skilled workforce to work along with the automated manufacturing units.
Based on the type of industrial robot, articulated robots hold the major share in the current market and are expected to grow at the highest growth rate over the forecast period. By robot component, the market is segmented into controller, industrial robot arms, end-effector, drive, sensors.
By end-user industry, the automotive industry holds major market share and electrical & electronics industry is expected to grow at the highest rate over the forecast period. Assembling and disassembling, material handling, painting and dispensing, cutting and processing, soldering, and welding are different types of functions performed.
China, Japan, United States, the Republic of Korea and Germany are the top five markets. The Asia-Pacific region is expected to register the highest growth rate.
Key Industry Players
The market leaders include:
- Adept Technologies
Key Deliverables in the Study
- Market definition for industrial robots along with key drivers and restraints.
- Analysis with region specific competition.
- Analysis of instrumental factors which can change the market scenarios along with rising prospective opportunities.
- Identifying major companies, which influence the markets on a regional and global scale and analyzing their market shares and strategic initiatives.
- This report provides in-depth analysis of Porter's five forces of the market. All these five major factors in the market have been quantified using internal key parameters governing each of them.
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