The global industrial robotics market is expected to reach US$ XX Billion by 2022, growing at a double digit CAGR between 2017 and 2022.
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The demand for industrial robotics is anticipated to grow exponentially during the forecasting period driven by advantages such as cost reduction, improved quality, increased production, and improved workplace health and safety. The adoption of automation to ensure quality production and meet market demand, and the growing demand from small- and medium-scale enterprises in developing countries is fueling the growth of industrial robotics market globally.
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Industrial Robotics Market Segment Analysis
On the basis of segment, the automotive industry accounted for highest share of the industrial robotics market. The electrical and electronics segment is the second largest market for industrial robotics capturing XX% share in 2016.
The market for industrial robotics in the electrical and electronics industry is expected to grow at double digit CAGR between 2017 and 2022 owing to the introduction of new electronic products into the market, the miniaturization of electrical and electronics equipment, and complexity in manufacturing processes. The metal industry is the third largest market for industrial robotics.
Chemical, rubber and plastics industry is the fourth largest market for industrial robotics market, while food industry accounted for over XX% share of the global industrial robotics market.
Industrial Robotics Market Regional Analysis
In terms of region, the five major markets including China, South Korea, Japan, United States, and Germany accounts for around 74% of the total robotics sales volume in 2016. Asia/Australia is the world's largest market for industrial robots, driven by growing demand for industrial robots from small- and medium-scale enterprises in China, Japan, South Korea, and India.
Europe is the second leading region for industrial robotics market. Americas is the third largest market for industrial robots.
Global Robotics Market - Key Players Sales and SWOT Analysis:
- KUKA AG
- Adept Technology (Acquired by OMRON)
- iRobot Corporation
- Intuitive Surgical
- Yaskawa Electric Corporation
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