Industrial Robots Market Outlook
According to a new report by Expert Market Research titled, “Global Industrial Robots Market Size, Share, Trends, Growth, Key Players, Report and Forecast 2024-2032, the industrial robots market is projected to grow at a CAGR of 11.4% between 2024 and 2032. Aided by the increasing adoption of automation across various sectors and the expansion of the Internet of Things (IoT) and artificial intelligence (AI) technologies, the market is expected to grow significantly by 2032.
Industrial robots, often used in applications such as assembly, painting, welding, palletising, and product inspection, represent a revolutionary aspect of modern manufacturing and production industries. These robots are designed to perform tasks with high precision, speed, and efficiency, leading to increased productivity, enhanced safety, and reduced operational costs. They have applications across various sectors, including automotive, electronics, pharmaceuticals, food and beverage, and more.
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The rising trend towards automation in various industries is a key driver propelling the global industrial robots market growth. Companies are increasingly implementing automated systems to improve production efficiency, reduce human error, and decrease labour costs. Industrial robots, being integral parts of these automated systems, are witnessing a surge in demand.
Furthermore, the growing incorporation of IoT and AI technologies into industrial robotics is fostering the industrial robots market expansion. These technologies enable enhanced connectivity, improved decision-making, and autonomous functionality in robots, significantly increasing their efficiency and adaptability in diverse industrial applications.
The expansion of industrial robots across different sectors is also bolstering the industrial robots market development. In the automotive industry, these robots are extensively used for tasks such as welding, assembly, and painting due to their precision and speed. In the electronics sector, they handle delicate components, while in the pharmaceutical industry, they ensure sterility and accuracy. In the food and beverage sector, industrial robots are used for packaging, palletising, and sorting, among other applications.
In addition, the ongoing technological advancements and increasing research and development activities promise to mitigate these challenges and unlock new opportunities. Developments such as collaborative robots (cobots), capable of working alongside humans, and advances in machine learning and vision systems are expected to drive the future growth of industrial robots market.
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Industrial Robots Market Segmentation
The market can be divided based on robot type, industry, and region.
Market Breakup by Robot Type
Market Breakup by Industry
- Electrical and Electronics
- Healthcare and Pharmaceuticals
- Food and Beverages
- Rubber and Plastic
- Metals and Machinery
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global industrial robots companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- ABB Ltd
- Fanuc Corporation
- KUKA AG
- YASKAWA Electric Corporation
- Comau S.p.A.
- Seiko Epson Corporation
- Kawasaki Heavy Industries, Ltd.
- Mitsubishi Heavy Industries, Ltd.
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