Industrial robots have a vital role to play in automation of industries, as several key operations are taken care of by industrial robots in several industries. Economic development in various countries offers promising growth opportunities to the global industrial robotics market. Rapid expansion of e-Commerce activities coupled with phenomenal growth of automotive and electronics industries is an added impetus to the global industrial robotics market.
Some of the renowned market players analyzed in the report on the global industrial robotics market are Yaskawa Motoman Robotics, Kawasaki Heavy Industries, Denso Corporation, Toshiba Machine Co., Ltd., Fanuc Robotics, and KUKA Robotics. The global industrial robotics market is projected to reach US$ 297 Bn by 2027. The market is likely to grow at a CAGR of ~9% from 2019 to 2027.
Growing Demand for Collaborative Robot to Drive Industrial Robotics Market
Collaborative robots are built to work alongside human beings through interaction in a shared workspace. Collaborative robots have the ability to automate the work easily and hence, are used in variety of applications such as packaging, pick and place, screw driving, assembly, lab testing, and quality inspection. Furthermore, collaborative robots help companies to enhance the production output with high levels of work safety, as these robots can perform repetitive work at a faster pace.
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Demand for collaborative robots is continuously on the rise in different industry verticals including retail, healthcare, automotive manufacturing, and several others, owing to their numerous benefits and associated applications. Several manufacturers operate in the industrial robotics domain such as Universal Robots, KUKA AG, and Franka Emika GmbH, who offer a wide variety of collaborative robots for various industries.
Extensive Deployment of Industrial Robots in Manufacturing Units Drives Market in North America
Based on region, the global industrial robotics market has been segmented into Latin America, Middle East & Africa, Asia Pacific, Europe, and North America. Regional segmentations are likely to facilitate better understanding of market dynamics at play in each of the regions during the forecast period.
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