According to Future Market Insights (FMI), the global Industrial Robotics Market will be worth US$ 33.75 billion by 2022, growing at a CAGR of 19.2% between 2022 and 2028. A new market research report by Future Market Insights on the industrial robotics market includes global industry analysis and opportunity assessment 2022–2028. The report investigates the industrial robotics market and provides critical insights for the forecast period of 2019-2029.
The industrial robotics market is predicted to reach US$ 96.82 billion by the end of 2028. The market is growing as more attention is paid to enhancing the productivity of high-volume production lines, particularly in the manufacturing of semiconductors and electronic devices.
According to the report’s findings, the global industrial robotics market is anticipated to grow significantly over the forecast period due to a number of factors, including the adoption of the Internet of Things (IoT) in various industries and the expanding digitalization of the manufacturing sector globally.
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Industrial robots are automated machines, gaining immense popularity across industries such as food & beverage, electronics, metal & machinery, and semi-conductors owing to their benefits such as increasing rate of operation, cost reduction, and quality enhancement.
These technologies are increasingly being used for large number of applications including painting, assembly, welding, palletizing, packaging & labeling, and product inspection.
Driven by this, industrial robotics accounted for more than 40% of the sales in the global robotics technology market in 2020.
East Asia is estimated to hold significant market share in terms of value in the global industrial robotics market. However, the South Asia market is projected to project lucrative growth in the global industrial robotics market over the forecast period of 2022-2028. This growth is propelled by the rapid growth in the factory automation rate in countries of South Asia and East Asia such as China, India, and Vietnam, among others. The economic condition of these countries have been evolving positively.
Furthermore, macroeconomic factors such as growing population, rapid industrialization, and urbanization, are some of the factors driving the growth of the industrial robotics market. The automotive industry in East Asia has gained a considerably positive momentum over the past years, which has increased the adoption SCARA robots and articulated robots in the manufacturing process and is estimated to indicate the rewarding growth of industrial robotics market in the East Asia region.
Key Companies Profiled:
- Yaskawa Electric Corporation
- FANUC Corporation
- Kawasaki Heavy Industries Ltd
- Kuka AG
- Mitsubishi Electric
- Teradyne Inc. (Universal Robots)
- ABB Ltd.
- Yamaha Motor Co., Ltd.
- Hirata, Corporation
- Denso Wave Incorporated
- Toshiba Machine Co. Ltd.
- OMRON Corporation
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