Global Industrial Robotics Market is Poised to Surpass US$ 69.1 Mn by the End of 2027, Says Coherent Market Insights (CMI)
SEATTLE–(BUSINESS WIRE)–#IndustrialAutomation–An industrial robot is an automatically controlled, multipurpose, reprogrammable device with three or more axes. Typical applications of industrial robots include painting, welding, assembly, palletizing, ironing, product inspection, testing, pick and place, and others with precision, speed, and high efficiency. There are different categories of industrial robots including SCARA robots, Cartesian robots, human-assist robots, gantry robots, and articulated arm robots. Industrial robots evolved over the years and have become far more efficient and accurate than their predecessors. Industrial robots enable humans to focus on a more critical part of the work such as R&D.
The global industrial robotics market is estimated to account for US$ 69.1 Mn in terms of value, growing at a CAGR of 6.4% during forecast 2020-2027.
- Rapid growth of automation across the electronic and automotive sectors in Asia Pacific is expected to accelerate growth of the global industrial robotics market during the forecast period.
- Proactive initiatives by the government is expected to boost the global industrial robotics market growth over the forecast period.
- Increasing automation in the electronics industry can present significant business opportunities in the global industrial robotics market.
- Advent of cobots can offer major market opportunities in the global industrial robotics market.
1. Increasing use of industrial robotics in the pharmaceutical sector is a key trend
The pharmaceutical sector is witnessing a massive shift in overall functioning with the advent of novel technologies such as artificial intelligence, Big Data, and industrial robotics. Many pharmaceutical companies have started adopting these technologies to further their R&D activities and boost production. Industrial robotics can be used in packaging and inspection, which saves workers from hazardous environments, repetitive tasks, eliminates human errors, and also potential human contamination.
2. Growing adoption in the food and beverage industry is another key trend
Many companies in the food and beverage sector are increasingly adopting industrial robotics to replace human intervention, reduce labor costs, and prevent human contamination. Key manufacturers in the robotics industry are focused on introducing specialty robots for the food and beverage sector, in order to accelerate production. For instance, in October 2018, ABB launched a new robotic system for the food and beverage industry at PackExpo in Chicago, U.S.
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Key players involved in the global industrial robotics market are KUKA Robotics Corporation, Daihen Corporation, Kawasaki Heavy Industries Ltd., Yaskawa Motoman Robotics, Mitsubishi Electric Corporation, Denso Corporation, FANUC Ltd., Denso Corporation, Nachi Robotic Systems, Inc., Universal Robots, Epson America, Inc., ABB Group, and Panasonic Corporation.
- For instance, in October 2020, ABB Group acquired Codian Robotics B.V., a provider of industrial robotics.
- For instance, in June 2018, Osaro, in collaboration with Denso Robotics, launched Osaro FoodPick, an automated system for food assembly tasks with deep learning and AI techniques.
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1. By Geography
- North America
- Asia Pacific
- Rest of the World
2. By Type
3. By Industry
- Electrical & Electronics
- Chemical, Rubber & Plastics
- Food & Beverages
- Precision & Optics
4. By Function
- Materials Handling
- Milling, Cutting and Processing
- Soldering and Welding
- Painting and Dispensing
- Assembling & Disassembling
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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.
Senior Client Partner – Business Development
Coherent Market Insights
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