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The Global Industrial Robotics Technology Market Size is expected to reach $55,297.5 million by 2022, growing at a CAGR of 9.3% during 2016 -2022.
Robots come with exceptional computing abilities, with physical sensing and manipulation capabilities. The increasing demand for process automation has contributed to the growth of the robotics market globally. Repetitive tasks can be easily automated with the help of robots, enhancing the quality of work and significantly improving efficiency and product quality. The adoption of robots has also been increasing due to factors such as high labour cost, growing smart technologies, and the need for efficient solutions. However, the higher initial setup cost and stringent regulatory frameworks hamper the adoption of robots.
SMEs are cautious about implementing robotics technology largely due to complexity and cost associated with it. The Industrial Robotics technology finds space in wide range of applications such as automotive, healthcare, electronics, defense and security, aerospace, food and beverage, agriculture, etc. Automotive industry is the leading industry as robots are extensively used in the manufacturing processes, especially for automation. The report highlights the adoption of Industrial Robotics globally.
Based on Type, the market is segmented into Articulated Robots, Cartesian Robots, Scara Robots, Cylindrical Robots and Other Robots. Based on Application, the market is segmented into Automotive, Electrical & Electronics, Chemical, Rubber & Plastics, Machinery, Metals, Food & Beverages, Precision & Optics and Others. Based on Function, the market is segmented into Soldering & Welding, Materials Handling, Assembling & Disassembling, Painting & Dispensing, Milling, Cutting & Processing and Others. The geographies included in the report are North America, Europe, Asia-Pacific, & LAMEA (Latin America, Middle East and Africa).
For the better analysis, the geographies are segmented into countries. Key Companies profiled in the report includes ABB Group, Adept Technology, Yaskawa Electric Corp., Fanuc, Kuka AG., iRobot Corp., Intuitive Surgical, Honda Motor and Yamaha Corporation.