An industrial robot is a robot which is used in manufacturing industries and are programmable, automated, and has the ability to move in three or more axis. Some of the benefit of using industrial robot are it is highly accurate, it can be used in industrial work like packaging and labeling, printed circuit boards, palletizing, product inspection, and testing, it can faster than that of a human, and among others are responsible for the industrial robotic market growth.  Industrial Robotics Market size was valued at USD 43.3 million in 2020, and is projected to reach USD 105.5 million by 2030, growing at a CAGR of 9.3% during the forecast period.

Market Segmentation:

The global industrial robotics market can be segmented as follows: on the basis of type it is classified into traditional industrial robots, and collaborative industrial robots. Furthermore, based on application the market is classified into metals and machinery, rubber and chemicals, food and beverages, pharmaceutical and cosmetics automotive, electrical, electronics, and others. On the basis of region, the industrial robotics market is divided into North America, Asia Pacific, Europe, and ROW.

Market Dynamics and Factors:

Ability to increase production speed is one of the major driving factor for the growth of the industrial robotics market. Since, manufacturers focuses on their ability to produce product with less error and of high quality  on time it  increases the demand of industrial robot which result in the industrial robotics market growth. Lack of skilled workforce to operate the robots is one of the restraining factor for the industrial robotics market growth. The shift of automotive industries to u industrial robot for painting, welding, assembling, and others could act as an immense opportunity for the industrial robotics market growth. High cost of the system is one of the major challenge for the industrial robotics market growth.

Geographic Analysis:

Asia Pacific is the major revenue contributor and is expected to continue in the coming years. According research study, the Asia Pacific market is expected to grow by a CAGR of 10.86% during the forecast timeline. Some of the factors for the increase in the growth of the industrial robotics market are presence of large manufacturing industries in this region, increase in government support, lower labor cost as compare to other regions, and among others. North America is the second dominating region in industrial robotics market. And according to research study, the North America market is expected to grow by a CAGR of 8.39% and is anticipated to continue during the forecast timeline. Some of the factors contributing to the industrial robotics market growth are increasing requirement of automation, large investment, growth of research and development of robotics, and among others.

Competitive Scenario:

Some of the key players operating in industrial robotics market are ABB Ltd, Adept Technology Inc., Comau S.p.A, Daihen Corp., Denso Wave Inc., Ellison Technologies Inc., Epson Robotics, Fanuc Corp., Genmark Automation Inc., Kawasaki Robotics Inc., Mitsubishi Electric Corp., Nachi Fujikoshi Corp., Panasonic Corporation (Activelink), Pari Robotics, Rethink Robotics Inc., Robert Bosch GmbH, Rockwell Automation Inc., Schunk GmbH, Staubli International AG, Toshiba Machine Co. Ltd., Universal Robots, Yamaha Robotics, and Yaskawa Electric Corp.

Industrial Robotic Market Report Scope