The global industrial robotics market is predicted to register a CAGR of 18.9% over the forecast period, according to FMI’s analysis. The industry’s value is anticipated to increase from US$ 39 billion in 2023 to US$ 220 billion by 2033 end.
The growing demand for collaborative robots (cobots) across industries is expected to boost the industrial robotics sector throughout the allotted time period. Consider the Danish company Universal Robots, which provides the UR+ platform to enable an increasing number of users to simply programme robots. The platform also makes it possible to deploy a variety of vision systems, robot end effects, and add-on applications quickly and effectively.
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Cobots are being adopted by businesses of all sizes for both new and old applications. For instance, the UR10 robot from Universal Robots is used for glueing and dispensing tasks by BMW AG (Germany). The introduction of Industry 5.0 is also anticipated to be advantageous for the industry. According to the European Commission, Industry 5.0 seeks to restore the role of industry in society by going beyond productivity and efficiency as the only goals.
The worker’s health and welfare are given more consideration by emerging technology, which also makes use of new technologies for growth. In accomplishing all of this, it keeps output to a minimum on the globe. The goal of Industry 5.0 is to reintroduce the human touch into development and production. It is anticipated that technology will best utilise human creativity and intelligence. Therefore, it is anticipated that the emergence of Industry 5.0 will present cobots with profitable opportunities.
Key Takeaways from the Industrial Robotics Market:
- The United States is projected to assume leading disposition in the global industrial robotics market. The market is projected to be valued at US$ 77.9 billion by 2033, exhibiting a CAGR of 18.7% for the forecast period. The expanding demand for industrial robots from the high-tech electronics sector is supporting the market expansion.
- China is expected to be a significant market for industrial robotics in the forthcoming years. The market is anticipated to be valued at US$ 15.8 billion by 2033. The growth rate assumed by the country is estimated to be 18.2% CAGR in the next 10 years. The remarkable progress of the Chinese market can be attributed to the expansive growth of automotive industry.
- The Japan market is assessed to reach US$ 12.9 billion by 2033, registering a CAGR of 17.2% from 2023 to 2033. The long-term drivers for the market include increasing need for elderly care and yet-to-be retired baby boomers’ population.
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News Featuring Market Developments by Key Players of Industrial Robotics:
- In March 2022, Mitsubishi Electric Corporation unveiled the latest industrial robotics system that allows robots to execute industrial tasks in complex environments like food-processing plants. This new system integrates Mitsubishi Electric’s Maisart AI technologies, such as high-precision speech recognition, to commence work tasks. The operators can then fine-tune the movements of robots as per necessary requirements. The company plans to commercialize the innovation in 2023.
- In October 2022, YASKAWA ELECTRIC CORPORATION. opened its Robotics Technology Center in Istanbul, Türkiye. The center is situated in a major industrial park in the city, and it plans to exhibit demonstration machines and operate a system. The company is anticipated to keep on investing in Türkiye to ensure participation of customers in products, technologies, and solutions being developed in Europe.
Industrial Robotics Market by Category
By Product Type:
- SCARA Robots
- Delta Robots
- Cartesian Robots/ Gantry Robots
- Articulated Robots
- Collaborative Robots
- Dual-arm Robots
By Application:
- Assembly/Disassembly
- Clean Room
- Dispensing
- Handling Operations
- Processing/Cutting
- Welding
- Painting & Coating
- General Applications
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By End Use:
- Automotive Industry
- Electrical/Electronics Industry
- Rubber & Plastics Industry
- Metal & Machinery
- Food & Beverages
- Plastic & Auxiliary Chemical Products
- Auxiliary Industries
- Bulk Commodities & Materials
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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