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Industrial Robotics Market Trends – Rapid adoption of automation in various industries
Industrial Robotics Market Size – USD 42.35 Billion in 2021, Market Growth – at a CAGR of 12.3%, Market Trends – Rapid adoption of automation in various industries”
— Emergen Research
VANCOUVER, BC, CANADA, August 1, 2022 /EINPresswire.com/ — The global industrial robotics market size reached USD 42.35 Billion in 2021 and is expected to register a revenue CAGR of 12.3% during the forecast period, according to latest analysis by Emergen Research. Rapid adoption of automation, IIoT, and AI in industrial manufacturing in combination with vision and other sensing systems, which enable robots to execute difficult tasks easily is one of the major factors driving revenue growth of the market. In addition, rapid growth of logistics and supply chain where warehouses and distribution centers are increasing demand for industrial robots owing to high priority for timely delivery as well as efficient and cost-effective manufacturing processes.
Our experienced market research team has provided updated information on the ongoing COVID-19 pandemic and its adverse economic impact in the latter segment of the report. The coronavirus outbreak has led to drastic changes in the current Industrial Robotics business landscape, limiting the growth opportunities for various manufacturers and buyers for the next few years. Besides making speculations about the market’s post-COVID-19 scenario, the report discusses its existing situation. The report eventually offers conclusive data related to the Industrial Robotics market growth assessed on both regional and global levels.
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Some Key Highlights From the Report
The SCARA robots segment accounted for moderate revenue share in 2021 due to growing need to reduce human efforts and errors in production process. SCARA robots are extensively used for pick-and-place or assembly processes requiring great speed and precision. In comparison, SCARA robot can operate quicker and fulfill optional cleanroom criteria. SCARA robot is suited for applications with a smaller field of action and limited floor space owing to compact design, making it easy to re-allocate in temporary or remote locations. Moreover, provision of mixed-model assembly and customized products, as well as better downstream demand coordination is another factor driving growth of this segment.
The material handling segment accounted for largest revenue share in 2021 owing to surge in demand for industrial robots from various industries such as food & beverages, electrical & electronics, automotive, and pharmaceutical, among others. Handling and transportation of dangerous chemical for humans is highly increasing demand for industrial robots. Both robotic material handling as well as machine tending systems provide reliable delivery of productivity gains in various applications, which is increasing demand for industrial robotics.
The electrical & electronics segment accounted for a significant revenue share in 2021. High demand for handling complicated consumer electronics, necessitate higher precision during assembly, which is one of the key factors driving revenue growth of this segment. Industrial robots are ideal for large and small electronics companies, which recognize that automation is the key to being globally competitive. It is essential for the electronics industry to have a robot with a soft and accurate arm to handle small and fragile parts. Industrial robots, such as SCARA robots, can achieve this low inertia and excellent precision while producing at high speeds.
Market Scope:
One of the report’s central components is the broad Industrial Robotics market segmentation that includes the product type gamut, application spectrum, end-user industry landscape, significant geographical regions, and the top market contenders. The report contains unbiased …….