Industrial Robotics Market size in APAC to increase by USD 17.57 billion from 2022 to 2027, Surge in demand for an industrial robot to drive the growth- Technavio

NEW YORK, Nov. 13, 2023 /PRNewswire/ -- The industrial robotics market in APAC is expected to grow by USD 17.57 billion from 2022 to 2027. However, the growth momentum of the market will be progressing at a CAGR of 13.52% during the forecast period. The market is segmented by application (Material handling, Welding and soldering, Assembling and disassembling, Painting and coating, and Others), and end-user (Automotive, Electrical and electronics, Metal and heavy machinery, Food and beverages, and Others). The report analyses the market size and growth and provides accurate predictions on the growth of the market. View Free PDF Sample 

The surge in demand for industrial robots notably driving the market growth. The industrial robotics market in the APAC region has witnessed robust demand for various industrial applications due to technological advancements and increased investments in robotics research and development. Industrial robots have been increasingly adopted to achieve enhanced production and operational efficiency, resulting in minimal error margins and improved employee safety. These robots are being utilized to enhance a wide range of applications, including welding, soldering, painting, assembly and disassembly, cutting, and milling, among others.

Key Highlights:

• The report recognizes the following as some of the key players in the industrial robotics market in APAC: ABB Ltd., Aurotek Corp. Inc., Daikin Industries Ltd., DENSO Corp., Durr AG, FANUC Corp., General Electric Co., Hans Laser Technology Industry Group Co. Ltd., Kawasaki Heavy Industries Ltd., KUKA AG, MIDEA Group Co. Ltd., Mitsubishi Electric Corp., NACHI FUJIKOSHI Corp., OMRON Corp., Panasonic Holdings Corp., Seiko Epson Corp., Stellantis NV, Universal Robots AS, Yamaha Motor Co. Ltd., and Yaskawa Electric Corp.
• The Industrial Robotics Market in APAC is fragmented in nature.
• Market to observe 13.0% YOY growth in 2023.

Market Dynamics:

Trend & Challenges 

Integration of IoT with robotics is an emerging trend shaping the market growth. The Internet of Things (IoT) involves connecting various devices, whether they are mechanical or digital, as well as objects, enabling the transmission of data from one end to another without the need for human intervention. With the emergence of Industry 4.0, IoT has been widely adopted across various domains, ushering in an industrial revolution.

The lack of skilled workers to operate industrial robots is a significant challenge hindering market growth. The introduction of industrial robots brings with it a multitude of applications. However, in the Asia Pacific (APAC) region, the growth of the industrial robotics market is hindered by challenges related to the demand for a highly skilled workforce. Robotic technology is a state-of-the-art approach to performing industrial tasks with precision, and its successful implementation depends on collaboration with proficient industrial workers capable of comprehending the data exchange between robots and the assembly line.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Keg Segments:

• The market share growth by the material handling segment will be significant during the forecast period. In the Asia Pacific (APAC) region, material handling plays a significant role in the fast-growing industrial robotics market. The thriving manufacturing and e-commerce sectors in the region are fueling the demand for effective automation solutions, consequently driving the growth of the APAC industrial robotics market. 

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Related Reports:

The industrial robotics services market is estimated to grow at a CAGR of 6.9% between 2022 and 2027. The size of the market is forecast to increase by USD 7,429.08 million. 

The industrial robotics market share is expected to increase by 145.02 thousand units from 2021 to 2026, at a CAGR of 6.62%.  

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by End-user

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio