Fort Collins, Colorado, Sept. 28, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Industrial Robotics Market Size, Growth, Share, Statistics Report, By Component (Robotic Arm, Robot Accessories, Additional Robotic Hardware, System Engineering, and Software and Programming), By Payload, By Application, By End-use, By Region Forecasts, 2023-2032."
According to DataHorizzon Research, The industrial robotics market size was valued at USD 29.1 Billion in 2022 and is anticipated to reach USD 94.8 Billion by 2032 with a CAGR of 12.6%. Industry 4.0 is influencing the growth of the industrial robotics market. Many industries are witnessing the introduction of new technologies that create entirely new ways of serving existing needs. The key trend is the development of technology-based platforms, which combine demand and supply. These technology platforms are easy to use with the help of smartphones and convenient for people, assets, and data. As the trend of Industry 4.0 continues to make deeper inroads in the manufacturing sector, industrial robotics is gaining popularity globally.
In the automotive industry, assembly lines frequently encounter problems such as injury hazards, a slow production duration, and concerns regarding final product quality. Robots help in overcoming these glitches as they are cost-effective and quick at completing the required task. Robots are very efficient in their jobs, and any job that is deemed hazardous or manually difficult can be accomplished by robots. Therefore, robots are increasingly used to assemble parts, welding, painting, material removal, and part transfer in the automotive sector. Furthermore, collaborative robots operate alongside humans in the same workspace and can do several activities in the automotive sector. Therefore, these factors are fueling the market expansion.
With the improvement of industrial robotic technology and the integration of AI and 3D computer vision, these robots are utilized for various jobs in a manufacturing warehouse, such as completely automated depalletization and mixed product handling.
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Report Snapshot:
| Report Title | Industrial Robotics Market |
| Market Size in 2022 | USD 29.1 Billion |
| Market Size by 2032 | USD 94.8 Billion |
| CAGR from 2023 to 2032 | 12.6% |
| Largest Market | Asia Pacific |
| Forecast Period | 2023 to 2032 |
| Historic Period | 2021 |
| Base Year | 2022 |
| Report Scope & Coverage | Market Size, Market Estimations, Competitor Analysis, Trends and Growth Factors |
| By Component | Robotic Arm, Robot Accessories, Additional Robotic Hardware, System Engineering and Software and Programming |
| By Payload | Up to 16 kg, 16 kg – 60 kg, 60 kg – 225 kg and Above 225 kg |
| By Application | Handling, Assembling & disassembling, Welding & Soldering, Cleanroom, Dispensing, Processing and Others |
| By End-use | Automotive, Electrical/Electronics, Metal/Heavy Machinery, Chemical, Rubber, & Plastics, Food and Others |
| Region | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Countries Covered | U.S., Canada, U.K., Germany, France, China, Japan, India, South Korea, Brazil, Mexico, UAE, Saudi Arabia and South Africa |
| Major Market Players | ABB LTD. (ABB ROBOTICS), Daihen Corporation, Denso Corporation (Denso robotics), Fanuc Corporation, Kawasaki Heavy Industries Ltd., Kuka Robotics Corporation, Mitsubishi Electric Corporation, Nachi-Fujikoshi Corporation (Nachi Robotic Systems, Inc.), Panasonic Corporation, Seiko Epson Corporation |
Segmentation Overview:
The global industrial robotics market has been segmented as component, deployment, application, and region. The robotic accessories segment held the largest market share in 2022. Accessories for industrial robots include end-effectors, controllers, attachments, and sensors. The chemical rubber and plastics segment is expected to register a positive CAGR during the forecast period. The demand for robots in the chemical industry is increasing due to their ability to handle hazardous and toxic chemicals, with their precise and accurate operation in dispensing, mixing, and handling a variety of chemical compounds.
North America is also expected to hold a significant industrial robotics market share. With the increasing prominence of automation in the U.S. and Canada, the need for industrial robots and collaborative bots is rising, boosting market growth. The Middle East and Africa region is expected to grow at a high CAGR during the forecast period. With the advent of IIoT and the integration of Artificial Intelligence, robot use cases in the Oil and Gas industries have increased, boosting the market demand in this region.
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Industrial Robotics Market Report Highlights:
- The global industrial robotics market is projected at USD 94.8 Billion at a CAGR of 12.6% by 2032.
- The rise in the use of robotics for manufacturing technologies induces the industrial robotics market growth. Automotive is the highest consumer of industrial robotics and is projected to account for a significant market share in the forecast period.
- The robotic accessories accounted for a significant market share in 2022 and are projected to dominate in the forthcoming years.
- Based on the end-user, the electrical and electronics segment witnessed huge traction in 2022.
- Asia Pacific is a dominant market and accounted for a significant share in 2022. The presence of manufacturing hubs at a broad scale and the deployment of industrial robots is expected to play a vital role in developing regional markets.
- Some prominent players in the industrial robotics market report include ABB LTD. (ABB ROBOTICS), Daihen Corporation, Denso Corporation (Denso robotics), Fanuc Corporation, Kawasaki Heavy Industries Ltd., Kuka Robotics Corporation, Mitsubishi Electric Corporation, Nachi-Fujikoshi Corporation (Nachi Robotic Systems, Inc.), Panasonic Corporation, Seiko Epson Corporation, Universal Robots A/S and Yaskawa Electric Corporation.
Key Developments in the Industry:
- In December 2022, Intrinsic acquired Open Source Robotics Corporation. The acquisition aims to improve further the products and services offered in ROS, Gazebo, and Open-RMF.
- In March 2023, Smart Robotics launched an industrial robot pick and place station named Smart Mixed Case Palletizer. The system enables automated palletization of mixed products and allows distribution centers to pre-sort products for multiple destinations.
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Industrial Robotics Market Report Segmentation:
Industrial Robotics Market, By Component (2023-2032)
- Robotic Arm
- Robot Accessories
- Additional Robotic Hardware
- System Engineering
- Software and Programming
Industrial Robotics Market, By Payload (2023-2032)
- Up to 16 kg
- 16 kg – 60 kg
- 60 kg – 225 kg
- Above 225 kg
Industrial Robotics Market, By Application (2023-2032)
- Handling
- Assembling & disassembling
- Welding & Soldering
- Cleanroom
- Dispensing
- Processing
- Others
Industrial Robotics Market, By End-use (2023-2032)
- Automotive
- Electrical/Electronics
- Metal/Heavy Machinery
- Chemical, Rubber, & Plastics
- Food
- Others
Industrial Robotics Market, By Region (2023-2032)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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