The Global Industrial Robotics Market was valued at US$ 53,5 Million in 2021 and is expected to surpass US$ 94.1 Million by 2030, registering a CAGR of 6.7% during the forecast period (2022-2030), according to the Global Industrial Robotics Market, By Type (Cartesian, Articulated, Cylindrical, SCARA and Others), By Industry (Electrical & Electronics, Automotive, Machinery, Chemical, Rubber & Plastics, Food & Beverages, Metals, Precision & Optics and Others), By Function (Materials Handling, Milling, Cutting and Processing, Soldering and Welding, Painting and Dispensing, Assembling & Disassembling and Others), by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), published by Coherent Market Insights.
An industrial robot is an automatically controlled, mechanical device used in place of an individual to perform dangerous or repetitive tasks with high accuracy. Industrial robots can manipulate products quickly and delicately in applications such as pick and place from conveyor line to packaging. Its typical applications include welding, printing, painting, assembly, disassembly, product inspection, packaging, palletizing, and testing. According to the International Federation of Robotics (IFR), in 2020, around 1.64 million industrial robots were in operation globally.
The global industrial robotics market is estimated to account for US$ 94.1 Mn in terms of value by the end of 2030
Global Industrial Robotics Market - Impact of Coronavirus (Covid-19) Pandemic:
Due to the COVID-19 pandemic, players operating in the manufacturing industry have witnessed a significant shift in their business. Non-availability of labor and issues in the transportation of goods had increased the demand for industrial robots in the manufacturing industry. For instance, in March 2020, according to Coherent Market Insights, 140 million migrant people returned to their native hometowns from cities, due to the shortage of labor, there was a huge demand for industrial robots in order to minimize the cost of manpower and save time for each operation.
To minimize the transmission of viruses companies were using these robotics in order to contain the spread of coronavirus. Hence, the global industrial robotics market witnessed high growth during the pandemic.
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Key Trends and Analysis of the Global Industrial Robotics Market: