Industrial Robotics Market

The industrial robotics market is estimated to be valued at USD 33.78 billion in 2024 and is expected to reach USD 82.39 billion by 2031, growing at a compound annual growth rate (CAGR) of 13.6% from 2024 to 2031.

Report Description:

The industrial robotics market has witnessed significant growth in the recent past. Industrial robotics involves the use of robots for manufacturing processes and related applications. Robots help improve productivity and quality by performing tasks that are tedious, repetitive, unsafe, or impossible for human workers to carry out. They can lift heavy payloads, operate in hazardous environments, work continuously without fatiguing, and ensure precision and accuracy in production processes. Robotic automation has been adopted across industries like automotive, electronics, pharmaceuticals, food and beverages, and others to reduce costs and meet rising demand. Advancements in robotics technology including artificial intelligence, machine learning, automation, and collaborative robots are expected to further fuel the adoption of industrial robotics solutions in the coming years.

Market Dynamics:

The global industrial robotics market is driven by factors such as growing labor costs, increasing demand for mass customization, rising labor shortage, and need for enhanced productivity and quality. Industrial robots help reduce costs associated with labor by automating repetitive and tedious tasks. Mass customization demands shorter production runs and frequent product changeovers which robots can easily perform. Moreover, an aging workforce and low unemployment rates have resulted in a shortage of labor in manufacturing industries. This has boosted the adoption of robotics to overcome dependence on human labor. Collaborative robots allow humans and robots to work side-by-side offering opportunities for augmented productivity. However, high initial installation and maintenance costs of robotics systems hamper the market growth to some extent. Furthermore, lack of standardization and interoperability challenges pose challenges. Meanwhile, growing automation across SMEs owing to declining robot prices and technological advancements in artificial intelligence, machine learning, and IoT present lucrative opportunities for market expansion.

Key features of the study:

• This report provides an in-depth analysis of the global industrial robotics market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global industrial robotics market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include ABB Ltd., Comau SpA, DAIHEN Corporation, Denso Wave Incorporated, Epson America, Inc., FANUC American Corporation, Hirata, Corporation, Kawasaki Heavy Industries Ltd, KUKA Robotics. Corporation, Mitsubishi Electric Corporation, OMRON Corporation, Panasonic Corporation, Seiko Epson Corporation, Teradyne Inc., Toshiba Machine Co. Ltd., Yamaha Motor Co., Ltd., and Yaskawa Electric Corporation.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global industrial robotics market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global industrial robotics market.

Market Segmentation

• Type Insights (Revenue, USD Bn, 2019 - 2031)
  • Cartesian
  • Articulated
  • Cylindrical
  • SCARA
  • Others.
• Industry Insights (Revenue, USD Bn, 2019 - 2031)
  • Electrical & Electronics
  • Automotive
  • Machinery
  • Chemical
  • Rubber & Plastics
  • Food & Beverages
  • Metals
  • Precision & Optics
  • Others
• Function Insights (Revenue, USD Bn, 2019 - 2031)
  • Materials Handling
  • Milling
  • Cutting and Processing
  • Soldering and Welding
  • Painting and Dispensing
  • Assembling & Disassembling
  • Others
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Key Players Insights
  • ABB Ltd.
  • Comau SpA
  • DAIHEN Corporation
  • Denso Wave Incorporated
  • Epson America, Inc.
  • FANUC American Corporation
  • Hirata, Corporation
  • Kawasaki Heavy Industries Ltd
  • KUKA Robotics Corporation
  • Mitsubishi Electric Corporation
  • OMRON Corporation
  • Panasonic Corporation
  • Seiko Epson Corporation
  • Teradyne Inc.
  • Toshiba Machine Co. Ltd.
  • Yamaha Motor Co., Ltd.
  • Yaskawa Electric Corporation