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Industrial Robotics Market Trends

Report ID: GMI1729
Published Date: Sep 2023
Report Format: PDF

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Industrial Robotics Market Trends

Industry 4.0 and smart manufacturing emphasize the integration of automation & digitization throughout the production value chain. Industrial robots are at the forefront of this transformation, automating tasks that were previously manual, repetitive, and error prone. This automation not only improves efficiency but also reduces the likelihood of human errors, leading to higher product quality. Smart manufacturing requires production systems that can quickly adapt to the changing market demands and product variations.

Industrial robots excel in this aspect by being easily reprogrammable and capable of handling diverse tasks. This flexibility enables manufacturers to switch between different products and production processes without extensive downtime. The government initiatives are augmenting the adoption of Industry 4.0. For instance, the Government of India is taking initiatives, such as the National Manufacturing policy and the SAMARTH Udyog Bharat 4.0, to positively influence the nation’s adoption of factory automation techniques and industrial robots.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Global market for industrial robotics was valued at over USD 14.5 billion in 2022 and is anticipated to grow at a CAGR of over 12% between 2023 and 2032, owing to the growing adoption of collaborative robots or cobots.

The automotive segment held a market share of over 30% and was valued at USD 4 billion in 2022. It is expected to grow at a lucrative pace through 2032, favored by the shift toward Electric Vehicles (EVs) and Autonomous Vehicles (AVs) that require advanced manufacturing processes.

Asia Pacific industry is estimated to grow tremendously through 2032, attributable to the development of smart cities in China, South Korea, and Singapore with advanced IoT applications, along with the wider deployment of 5G networks.

ABB Group, Comau SpA, Denso Corporation, Epson America, Inc., Fanuc Corporation, HD HYUNDAI ROBOTICS, Kawasaki Heavy Industries, Ltd, KUKA AG, Mitsubishi Electric Corporation, Nachi Fujikoshi Corp, and OTC Daihen, Inc.