Westford, USA, Oct. 11, 2022 (GLOBE NEWSWIRE) -- Robots are increasingly becoming a staple in many industries as organizations strive to automate various tasks and processes. The global market for industrial robots is expected to grow significantly in the next few years. SkyQuest has released a detailed analysis of the global robot market, highlighting the current state of the market and future prospects. The report provides an in-depth look at the competitive landscape, with profiles of leading players and detailed insights into their business strategies. It also includes a comprehensive assessment of the key trends and drivers shaping the industry.
The report finds that the global robot market is currently worth around US$29.81 billion, with sales value expected to grow at a CAGR of 17.84% over the next seven years. North America and Europe are currently the largest markets for robots, accounting for around 60% of total demand. Asia-Pacific is expected to be the fastest-growing region, with sales forecast to increase at a CAGR of 23.8%.
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The industrial robotics segment is currently the largest application area for robots, accounting for 43% of total demand in 2021. The automotive sector is the second-largest user of robots, with a share of 30%. Robotics is increasingly being used in other sectors such as healthcare, food and beverages, consumer goods, and logistics.
One of the key trends driving growth in the robot market is the increasing adoption of collaborative robots (cobots). Cobots are designed to work alongside humans in manufacturing and other industrial applications. They are typically small and lightweight, making them safe to work with. The report finds that cobots are becoming increasingly popular as they offer a versatile and economical solution for automation needs.
The report on the global robot market discusses how the adoption of robotics is reshaping manufacturing, logistics and other industries. It also highlights the opportunities and challenges that businesses face as they seek to implement robotic solutions. In addition, SkyQuest provides recommendations on how companies can unlock the full potential of their businesses in the global robot market.
Robots to Account for 30% of all Manufacturing by 2030
SkyQuest analysis of the role of robots in industry 4.0 finds that robots will play an increasingly important role in the future of work. As industries become more automated, robots will take on more complex tasks and responsibilities, making them an indispensable part of the workforce.
Our analyst predicts that by 2030, 30% of all industrial tasks will be carried out by robots. This shift in the global robot market will require companies to adapt their business models and HR strategies to make the most of the opportunities presented by Industry 4.0. The rise of the robot workforce will bring a number of advantages for businesses, including increased productivity, efficiency and flexibility. However, companies will need to ensure that their employees are trained to work alongside robots, and that they have a clear understanding of the roles and responsibilities that each team member will play.
According to a recent report on robot market from SkyQuest, the adoption of Industry 4.0 technologies could increase global GDP by $2.7 trillion by 2025. The report forecasts that robotic manufacturing will account for the lion's share of this growth, with an estimated $1.6 trillion increase in output. Our analysis found that Industry 4.0 technologies could help manufacturers address some of the biggest challenges they face, including rising labor costs, declining productivity, and increasing competition from low-cost countries.
The study on robot market found that companies who adopt Industry 4.0 technologies can expect to see increased productivity, improved quality, and reduced waste. In addition, these companies will be better able to compete in global markets and tap into new customer segments.
South Korea, Singapore, Japan, Germany, and Sweden are Countries in Robot Market
In just the last four years, the global robot density – the number of robots per 10,000 workers – has increased from 66 to 74. This is an increase of more than 12%. The largest contributor to this growth is Asia, where robot density grew from 54 to 78 between 2016 and 2021. In China alone, the number of industrial robots in operation increased by almost 3 million in the last two years.
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The automotive industry remains the biggest user in the global industrial robot market, accounting for around 30% of the global total. Automotive robot density grew to 133 behind 10,000 employees and 2021. It has been found that the US automotive sector has over 1287 units installed behind 10,000 employees.
The next biggest users are the electronics (19%), food and beverage (16%), and metals and machinery (14%) industries.
As per SkyQuest’s recent findings, there are at least 126 robots behind 10,000 workers. The leading producers of robots are South Korea, Singapore, Japan, Germany, and Sweden. These countries produce over 70% of the world's robots. The Japanese Robot Association estimates that there are over 320,000 industrial robots in use in Japan. This is the highest number of any country.
Robots are used extensively in many different industries across different countries in the global robot market. In Japan, they are commonly used in the automotive industry. In China, they are used in electronics and other manufacturing industries. In the United States, industrial robots are used across a range of industries including automotive, food and beverage, plastics and chemicals. South Korea also has a very high density of industrial robots, 926 per 10,000 workers and they are used extensively in the automotive and semiconductor industries.
20 million Jobs to Lost to Robots by 2030
There are many reasons for why this trend is occurring in the global robot market. Firstly, robots are becoming more affordable as prices continue to drop. Secondly, they require less maintenance than human workers and can work for longer hours. Thirdly, robots are generally more accurate than humans, which is critical in many manufacturing processes.
Fourthly, manufacturers are under pressure to reduce costs and increase efficiency in the face of global competition. Automating with robots can help them to meet these challenges. Finally, there is a growing shortage of human workers available to do manual labor across global robot market, as people are becoming better educated and increasingly seeking white-collar jobs.
The rise of the robots is coming. By 2030, up to 20 million factory jobs around the world could be replaced by robots, according to a new report from SkyQuest. That’s about one-fifth of all manufacturing jobs that exist today. The impact will be felt most keenly in China, where 12 million to 13 million factory jobs could disappear by 2030. But the United States won’t be immune either: Up to 2 million manufacturing jobs in America could go away in the next decade or so.
The automation of factories has been underway for decades, of course in the global robot market. But what’s new is the accelerating pace of advancement in robotics and artificial intelligence that is making machines ever more capable and cheaper to use. prototypes of advanced robots are already being tested in factories across China and America. One example is a robot developed by Google’s parent company, Alphabet, that can be used for tasks such as moving heavy boxes and loading trucks. These so-called “co-bots” work alongside human workers rather than replacing them outright.
While manufacturing is expected to be the hardest hit sector in the robot market, other industries such as retail and healthcare are also at risk of seeing significant job losses to robots. However, it's not all doom and gloom, as the study also predicts that robots will create new jobs in different sectors as well as making existing ones more efficient.
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Key Players in Global Robot Market
- ABB Ltd
- Yaskawa Electric Corporation
- Denso Corporation
- Fanuc Corporation
- Kuka AG
- Kawasaki Heavy Industries Ltd
- Toshiba Corporation
- Panasonic Corporation
- Staubli International AG
- Nachi Robotic Systems Inc.
- Yamaha Motor Co. Ltd
- Seiko Epson Corporation
- Comau SpA (Stellantis N.V)
- Omron Adept Technologies Inc.
- Intuitive Surgical Inc.
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