Industrial Robotics Market worth $32.5 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, July 27, 2023 /PRNewswire/ -- The Industrial Robotics market is projected to grow from USD 17.0 billion in 2023 and is projected to reach USD 32.5 billion by 2028; it is expected to grow at a CAGR of 13.8% from 2023 to 2028 according to a new report by MarketsandMarkets™. Growing demand for automation in manufacturing and logistics is one of the major drivers of the market.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=643

Browse in-depth TOC on "Industrial Robotics Market" 
384 – Tables
93 – Figures
482 – Pages

Industrial Robotics Market Report Scope:

Collaborative robots' segment is expected to grow at highest CAGR during the forecast period.

Continuous advancements in artificial intelligence, machine learning, and sensor tesschnologies are driving the ongoing development of collaborative robots. These advancements enable cobots to become more intelligent, adaptable, and skilled in handling complex tasks. As industries increasingly seek flexible automation solutions, cobots are set to revolutionize work environments, shaping the future of work and enhancing overall productivity and efficiency.

Upto 16.00 Kg segment in payload capacity is expected to have largest market share by 2028.

Robots with a payload-carrying capacity of up to 16.00 kg are mainly adopted in the automotive industry for arc welding and spot-welding applications, especially for 2-wheelers. In the electrical & electronics industry, these robots can be adopted for soldering and packaging electronic components. The increasing miniaturization of electronic components and chipsets has resulted in the large-scale adoption of robots with a payload-carrying capacity of up to 16.00 kg in the electrical & electronics industry. Such robots have also been widely adopted in the food & beverages industry in recent years for applications such as pick and place, sorting, and palletizing.

Processing segment is expected to grow at highest rate of CAGR during the forecast period.

Processing applications considered in this section are grinding, milling, and cutting. Grinding robots are used to quickly and efficiently process parts of objects, such as vehicle bodies and wooden planks. These robots save time and costs while machining complex designs while improving the uniformity of each workpiece. A force/torque sensor is used in conjunction with the end effector to apply the right amount of pressure needed. Automated grinding also reduces health risks associated with the metal dust affecting workers in a manual process. In automotive applications, robotic grinders are used for machining axle beams and connecting rods.

Automotive segment is expected to hold for largest share during the forecast period.

Automotive manufacturers strive for consistency and repeatability since any untoward issue can stop the workflow in a vehicle assembly line. There are two main stages in vehicle production: manufacturing and assembly. In manufacturing, spot welding and painting robots are used extensively. Assembly includes a mix of light and heavy tasks, such as screw driving, windshield installation, wheel mounting, and labeling. Articulated robots are generally used for most tasks; however, parallel robots assemble smaller components, such as pumps and motors.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=643

Asia Pacific region to have largest share of Industrial Robotics market during the forecast period.

Asia Pacific is considered one of the world's major manufacturing hubs and is expected to provide ample growth opportunities to the industrial robotics industry. Low production costs, easy availability of labor, lenient emission and safety norms, and government initiatives for foreign direct investments (FDIs) are some of the major factors accelerating the market growth in APAC. The aging population in China and Japan has resulted in rising labor costs, leading to the growing adoption of automation. The increasing population is also attracting companies to invest in APAC.

Key players in the industrial robotics companies include ABB (Switzerland), FANUC CORPORATION (Japan), Yaskawa Electric Corporation (Japan), KUKA AG (Germany), and Mitsubishi Electric (Japan). Other companies that have a significant presence in the industrial robotics market are Kawasaki Heavy Industries (Japan), DENSO Corporation (Japan), Nachi-Fujikoshi (Japan), Durr (Germany), and SEIKO EPSON (Japan).

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=643

Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

Smart Factory Market by Component (Industrial Sensors, Industrial Robots, Industrial 3D Printers, Machine Vision Systems), Solution (SCADA, MES, Industrial Safety, PAM), Industry (Process Industry, Discrete Industry) and Region - Global Forecast to 2027

Collaborative Robot Market by Payload (Up to 5 Kg, 5-10 kg, 10-20 kg, more than 20 kg), Component, Robotic Arm, End Effectors, Drives, Controllers, Sensors, Power Supply, Motors, Software), Application, Industry and Region - Global Forecast to 2029

Service Robotics Market by Environment (Aerial, Ground, Marine), Type (Professional, Personal & Domestic), Component, Application (Logistics, Inspection & Maintenance, Public Relations, Education) and Region - Global Forecast to 2028

Robot End Effector Market by Type (Grippers, Welding Guns, Tool Changer, Clamps, Suction Cups, Deburring, Soldering, Milling, & Painting Tools), Robot Type (Traditional, Collaborative), Application, Industry & Region - Forecast to 2028

Smart Manufacturing Market by Information Technology, Enabling Technology, Industry (Process and Discrete) and Geography (North America, Europe, Asia Pacific, Rest of World) (2021-2027)

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/industrial-robotics-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/industrial-robotics.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

SOURCE MarketsandMarkets