Enjoy complimentary customisation on priority with our Enterprise License!
The industrial robotics market size is forecast to increase by USD 16.71 billion at a CAGR of 13.26% between 2023 and 2028. The market is experiencing significant growth due to the increasing demand for robotics technology in various industries. Key trends include the integration of artificial intelligence and the Internet of Things (IoT) to enhance consistency, client satisfaction, and improve overall production quality. The market is witnessing a shift towards automation to address the challenge of labor shortages and the need for round-the-clock operations. Emerging markets are driving growth due to their large labor pools and lower labor costs. However, the high costs associated with purchasing and maintaining industrial robots remain a significant challenge. Competition is intensifying, with key players focusing on delivering innovative solutions to gain a competitive edge.
To learn more about the market trends and analysis report, Request Free Sample
Industrial robotics is a critical component of automation in various sectors, playing a pivotal role in enhancing productivity and efficiency in manufacturing processes. The market for industrial robots continues to develop, driven by advancements in technologies such as SCARA, cobots, and AI. These machines are utilized in material handling, welding, soldering, painting, and other tasks, enabling factories to increase capacity, flexibility, and product quality. The robot market encompasses a wide range of industries, including automotive, electronics, food and beverage, and pharmaceuticals.
Further, robots are integral to manufacturing processes, providing precision and consistency in production lines. They are also used in material handling vehicles, assembly lines, and supply chains to optimize labor costs and reduce maintenance. Industrial robots are increasingly being integrated with sensors and AI, allowing for real-time data collection and analysis, improving overall product quality and delivery. The role of industrial robots in Industry 4.0 is at the forefront, with forecasts indicating significant growth in the market. The flexibility and capacity of these machines are essential for industries looking to remain competitive in a rapidly evolving marketplace.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The articulated segment is estimated to witness significant growth during the forecast period. Industrial robots, particularly articulated robots, play a pivotal role in factories across India and South Africa, revolutionizing manufacturing processes with their precision and versatility. These robots, which offer multiple rotary joints and mimic human arm movements, are widely used in industries such as automotive, metals and machinery, and pharmaceuticals. The most popular configuration for articulated robots is the 6-axis model, which provides six degrees of freedom, enabling it to handle a variety of tasks with remarkable accuracy and dexterity. These robots are indispensable for tasks requiring high precision, such as soldering, painting, and vehicle assembly. The market features a significant segment for articulated robots due to their ability to handle complex tasks in confined spaces.
The growing demand for Industry 4.0 and the resulting digitalization of manufacturing processes is expected to further boost the sales of these robots. Despite the shortage of skilled labor in manufacturing industries, the adoption of industrial robots is increasing to meet the demands of modern manufacturing processes.
Get a glance at the market share of various segments Request Free Sample
The articulated segment was valued at USD 4.93 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market share of various regions Request Free Sample
The market in the APAC region is experiencing significant growth due to the region's rapid industrialization and the increasing demand for automation across various industries. India, as part of this dynamic region, is witnessing a wave in the adoption of industrial robots to handle manufacturing processes with precision. The market in India is expected to grow at a steady pace, driven by the automotive, electronics, and metal industries. Factors such as the shortage of skilled labor and the need for increased productivity are further fueling the demand for industrial robots in the country. In South Africa, the market is also gaining momentum, with applications ranging from soldering and painting to material handling and vehicle manufacturing.
Further, the implementation of Industry 4.0 technologies is further expected to revolutionize the market in South Africa and the APAC region as a whole. The variety of applications and industries served by industrial robots in APAC makes it a significant and growing segment in The market.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The tide in demand for industrial robots is the key driver of the market. The market is experiencing significant growth due to the automation of various tasks in different sectors. Technological advancements and research and development investments have led to increased demand for industrial robots in manufacturing processes. These robots offer numerous benefits, including enhanced productivity, minimal error margins, and improved employee safety. With the global working-age population expected to decrease significantly by 2050, particularly in countries like China, Japan, Germany, Russia, and France, companies are investing in automation technologies such as industrial robots to meet production demands and overcome labor shortages.
Moreover, key players in the market include Yaskawa Electric, with a focus on material handling, welding, and SCARA robots. The integration of these advanced technologies is set to revolutionize industries, particularly in sectors such as material handling and manufacturing, where efficiency and productivity are crucial.
Integration of IoT with robotics is the upcoming trend in the market. The market has experienced significant growth due to the increasing adoption of automation in various industries, particularly in France. IoT technologies have played a pivotal role in this development, enabling machines to communicate and exchange data in real-time, without human intervention. This automation trend is particularly prominent in sectors such as material handling, welding, and SCARA robots. Leading companies like Yaskawa Electric are at the forefront of this development, offering advanced robotic solutions with IoT capabilities. These capabilities provide valuable insights into machine performance, enhancing productivity and efficiency. For instance, in material handling, IoT-enabled robots can optimize inventory management and streamline logistics processes.
Similarly, in welding, IoT can enable predictive maintenance and improve overall production quality. The integration of IoT in industrial robots is a game-changer, offering numerous benefits such as improved accuracy, increased flexibility, and enhanced safety. As the market becomes increasingly competitive, companies are focusing on offering innovative solutions that cater to the evolving needs of industries. With IoT capabilities becoming a standard feature in industrial robots, the future of automation looks promising, with endless possibilities for optimization and innovation.
The lack of skilled workers to operate industrial robots is a key challenge affecting the market growth. Industrial robots have gained significant traction in various sectors due to their ability to enhance productivity and automate repetitive tasks. In France, for instance, industries such as material handling, welding, and SCARA are witnessing a notable increase in the adoption of industrial robots. Companies like Yaskawa Electric are at the forefront of this development, providing advanced technologies to streamline manufacturing processes. However, the market growth is hampered by the challenge of acquiring a skilled workforce capable of operating and managing these robots. The intricacies of data exchange between robots and the assembly line necessitate the involvement of trained engineers.
Consequently, regular workers without proper training cannot effectively utilize robotic solutions, posing a significant barrier to their adoption in industrial facilities.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market analysis and report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ABB Ltd. - The company offers industrial robotics such as SWIFTI CRB 1300, SCARA Robot IRB 930, GoFa CRB 15000, SWIFTI CRB 1100, and SCARA Robot IRB 920.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is witnessing significant growth due to the increasing automation of tasks in various sectors. The role of robotics technology in enhancing productivity and precision in manufacturing processes is becoming increasingly prominent. The market is driven by the needs of industries such as automotive, electronics, and metal fabrication, among others. SCARA robots, soldering robots, and welding robots are the major types of industrial robots in use. These machines offer flexibility, consistency, and integration with sensors and artificial intelligence for improved product quality and efficiency. The market is witnessing developments in areas such as material handling, painting, and vehicle manufacturing.
Further, the deployment of robotics technology in production lines is expected to continue, driven by the shortage of labor and rising labor costs. The market is forecasted to grow at a significant scale in regions such as China, India, South Africa, the Middle East, Brazil, and Singapore. The trend towards Industry 4.0 and the integration of robotics technology with supply chains and assembly lines is also driving growth. The market is characterized by advancements in robotics technology, including the development of cobots and the increasing use of artificial vision for monitoring and programming. The role of robotics technology in improving safety and reducing maintenance costs is also a major factor driving its adoption.
Moreover, the robot market is competitive, with major players such as Yaskawa Electric offering a variety of industrial robots. The market is expected to continue its growth trajectory, driven by the increasing needs of industries for automation solutions.
Market Scope |
|
Report Coverage |
Details |
Page number |
187 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 13.26% |
Market growth 2024-2028 |
USD 16.71 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
12.78 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 38% |
Key countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABB Ltd., b m surface systems GmbH, Comau Spa, DENSO Corp., Durr AG, FANUC Corp., Kawasaki Heavy Industries Ltd., MIDEA Group Co. Ltd., Mitsubishi Electric Corp., NACHI FUJIKOSHI Corp., OMRON Corp., Relay Robotics Inc., Rethink Robotics GmbH, Robert Bosch GmbH, Rockwell Automation Inc., Seiko Epson Corp., Shenyang Xinsong Robot Automation Co. Ltd., Staubli International AG, Teradyne Inc., and Yaskawa Electric Corp. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.