Industrial Robotics Market Business Opportunities, Chain Structure Analysis and Industry Development Overview by 2030
Rise of manufacturing has led to increase in automation requirements as well as its extensive use in assembling of electronic products.
PORTLAND, OR, UNITED STATES, July 12, 2023/EINPresswire.com/ — Increase in demand for automation, high labor cost and dearth of skilled human workforce, rise in investments in R&D activities, and availability of affordable and energy-efficient robots drive the growth of the global industrial robotics market. On the other hand, High initial investment and installation costs impede the growth to some extent. However, rise in application areas, growth in emerging economies, and evolving robotics technology are expected to create lucrative opportunities in the industry.
The global industrial robotics market size was valued at $37.8 billion in 2020, and is expected to reach $116.8 billion by 2030, with a CAGR of 11.7% from 2021 to 2030.
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Furthermore, industrial robotics is expected to be used in alternative application areas in growing markets. Electronics is a key area for penetration of industrial robotics and is witnessing significant growth. Another key application of industrial robotics is in the healthcare industry. Nanorobotics, a part of industrial robotics, is gaining momentum in healthcare and other niche markets. Nano robots help in mixing the right compound as per instructions and result in decreasing lead time, which, in turn, helps the company to meet the demand for medicines they are manufacturing from the consumer in the market.
Covid-19 Scenario-
• The outbreak of the pandemic gave you to the closure of most of the industrial units across the world, which resulted in shortage of demand for industrial robotics, thereby impacting the market negatively, especially during the initial period.
• However, the market has already started recovering at a quick pace and is expected to cover up for the losses really soon.
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The global industrial robotics market is analyzed across type, end-user industry, function, and region. . Based on type, the articulated segment accounted for the major share in 2020, holding more than two-fifths of the global market. The cylindrical segment, however, would exhibit the fastest CAGR of 13.1% throughout the forecast period.
Based on industry, the electrical & electronics segment generated the highest share in 2020, accounting for nearly one-third of the global market. The food & beverages segment, on the other hand, would exhibit the fastest CAGR of 12.8% from 2021 to 2030.
Based on region, the market across Asia-Pacific held the lion’s share in 2020, garnering nearly three-fifths of the global market. The LAMEA region, on the other hand, is expected to cite the fastest CAGR of 13.2% by the end of 2030.
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Leading Players:
DAIHEN Corporation, Denso Corporation, Kobe Steel, Ltd., Epson America, Inc., ABB, Fanuc Corporation, Kawasaki Heavy Industries Ltd., Yaskawa Electric Corporation, Kuka AG, and Mitsubishi Electric Corporation. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
David Correa
Allied Analytics LLP
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